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21 Aug 2026 1 filing
Meeting Details
Date: Sep 1–2, 2026; Event: Ashwamedh – Elara India Dialogue; Mumbai; Physical.
Date: Sep 21–22, 2026; Conference: JP Morgan India Conference; Mumbai; Physical.
Date: Sep 22–23, 2026; Conference: BOFA Asia Pacific Conference; Hong Kong; Physical.
Date: Sep 24, 2026; Forum: CITIC CLSA Investors’ Forum; Hong Kong; Physical.
Participants
Key company participant: Company Secretary and Compliance Officer.
Purpose
Purpose: investor/analyst meetings to discuss publicly available information.
19 Aug 2026 2 filings
AGM details
Held on 19 Aug 2026 at 11:00 IST via Video Conferencing.
Ordinary business resolutions
Adopt Audited Financial Statements for FY ending 31 Mar 2026—passed.
Re-appoint Ram Kuppuswamy as director—passed.
Re-appoint Deloitte Haskins & Sells as Statutory Auditors—passed.
Special business
Extend ESOP Plan 2025 benefits to subsidiary employees—passed.
Voting status
All resolutions deemed passed subject to receipt of requisite votes.
AGM Details
AGM held on August 19, 2026 via Video Conferencing.
Record date set on August 12, 2026; total record shareholders 279,609.
Key Resolutions
Ordinary: Adopt audited financial statements for FY ending March 31, 2026.
Ordinary: Re-appoint director retiring by rotation.
Ordinary: Re-appoint auditors as statutory auditors.
Special: Extend ESOP plan benefits to subsidiary employees.
Voting Results
Resolution 1 passed; votes in favour ~99.97%.
Resolution 2 passed; votes in favour ~98.91%.
Resolution 3 passed; votes in favour ~99.9998%.
Resolution 4 passed; votes in favour ~86.46%.
Governance & Auditors
Director retirement by rotation offered for reappointment and approved.
Auditors re-appointment as statutory auditors approved.
ESOP & Subsidiary Matters
Extension of Amended ESOP Plan 2025 benefits to subsidiary employees approved.
14 Aug 2026 2 filings
Resolution 1: Preferential issue
Type: Special resolution for issuance of equity shares and convertible warrants.
Nature: Preferential issue of equity shares and convertible warrants.
Promoter group: 100% in favour.
Voting outcome: Approved with 97.72% in favour, 2.28% against.
Votes polled: 312,775,454; Outstanding shares: 394,493,184.
Record date: 7 Aug 2026; EGM date: 14 Aug 2026.
Purpose
Special resolution to approve issuance of equity shares and convertible warrants via preferential issue.
Resolution details
Type: Special.
Nature: Issuance of equity shares and convertible warrants via preferential issue.
Key terms: issue price, floor price, promoter holding changes.
Voting outcome
Outcome: deemed passed subject to receipt of requisite votes; formal results later.
Shareholding impact
Promoter holding changes highlighted as part of the proposed issue.
Management/Board changes
No changes to board or key managerial personnel were announced at the EGM.
7 Aug 2026 3 filings
Meeting Details
August 14, 2026: Emkay Confluence 2026: India: Full Throttle Ahead - Annual Investor Conference; Mumbai; Physical
August 18, 2026: Motilal Oswal 22nd Annual Global Investor Conference, 2026; Mumbai; Physical
Purpose
Discussions will be based on publicly available information; UPSI will not be shared.
Financial Performance
EBITDA for Q1 FY27 was Rs 9 crore, margin about 0.8%.
Gross margin exited Q4 2026 at 25.4%; Q1 AGM at 22.4%.
Commodity hit was 5.6% in Q1; price hikes and SKUs lifted ASP.
ASP rose to Rs 1.61 lakh across the country.
AtherStack Pro attach rate reached 94% in Q1 2027.
Wholesale volume grew 81% YoY to 83,000 units; registrations up 102% to 90,000.
Demand and Pricing
Inquiries rose 95% YoY; preorders up 158% to 1.5 lakh in Q1.
Dealer stocks fell from 14 days to 3 days.
EL scooter launch and pricing to uplift ASP with new SKU mix.
Subsidies: Q1 had partial subsidy; 15–20% of vehicles sold without subsidy.
Capacity and Projects
Hosur capacity currently 35,000 units/month; Aurangabad Phase-1 unlocks 5 lakh/year.
AURIC go-live expected later this calendar year, lifting total capacity to 9.2 lakh.
Phase-2 to add 5 lakh capacity; total 14.2 lakh; Phase-2 planning; no immediate start.
EL scooter production started; 60,000 units/month combined across Hosur and Aurangabad.
Funding and Capex
QIP of Rs 1,300 crore closed; Rs 1,200 crore via preference issue planned.
Total fundraise target of Rs 2,500 crore to support capacity expansion.
Guidance and Outlook
Commodity inflation may persist; risk of 100–200 bps further hit.
EL expected to lower cost structures; ASP increase partially offset by commodity.
Subsidy extension unclear; Q2 subsidies uncertain.
Phase-1 ramp to 42,000 units/month in four to five months; go-live by festive period.
Q&A Highlights
Commodity headwinds may continue; EL will lower cost structures in coming quarters.
Phase-2 timing is contingent on demand; cautious on precise timeline.
Non-vehicle revenue currently 14% of revenue; service revenue potential 2–3%, long-term upside.
Policies; Delhi EV policy supportive; Haryana following; PM-E-DRIVE extension uncertain.
Tier-2 and Tier-3 stores driving volumes.
EL geo strategy: rest of India first, then Middle India, then South India.
Objects clarified
Marketing expenditure clarified to INR 275 crore for branding and promotions.
Post-issue allottees and holdings
IJF post-issue: 24,091,463 shares, 6.02%.
Hero MotoCorp post-issue: 122,702,299 shares, 30.68%.
Mehta and Jain post-issue: 19,416,462 shares each, 4.85%.
Promoter status
IJF remains non-promoter; Hero MotoCorp and individuals remain promoters.
Annexures updated
Annexures A and B updated to reflect pre/post-issue holdings.
Corrigendum and timing
Corrigendum dated Aug 7, 2026 forms part of EGM Notice.
Assumptions for post-issue
Post-issue holdings assume full conversion of 79,36,507 warrants.