Automotive Axles Ltd

AGM details

• AGM held on 12 August 2026 at 3:00 p.m. via VC/OAVM.
• Remote e-voting from 9–11 August 2026; record date 5 August 2026.

Resolutions

• Adoption of standalone financial statements for year ended 31 March 2026.
• Declaration of final dividend of Rs 32 per equity share.
• Re-appointment of Kenneth James Hogan as director retiring by rotation.

Voting results

• Adoption of financial statements passed; 99.99% in favour.
• Final dividend passed; 99.99% in favour.
• Director re-appointment passed; 99.62% in favour.

Dividend

• Final dividend of Rs 32 per equity share approved.

Director changes

• Kenneth James Hogan re-appointed as director retiring by rotation.

AGM details

• Held on 12 August 2026 at 3:00 PM via VC/OAVM.
• Concluded at 3:50 PM IST.
• Deemed to be conducted at registered office; quorum ensured by 114 members.

Resolutions

• Ordinary: Adoption of Audited Financial Statements for year ended 31 March 2026.
• Ordinary: Declaration of Final Dividend of Rs 32 per equity share.
• Ordinary: Re-appointment by rotation of Kenneth James Hogan as director.

Voting status

• Voting results not disclosed in the filing; to be announced to stock exchanges and on the company site.

Dividend

• Final dividend of Rs 32 per equity share declared for FY2025-26.

Director changes

• Kenneth James Hogan retires by rotation; eligible for re-appointment.

Auditor

• Statutory auditor attended the AGM; no change in appointment disclosed.

Financial Performance

• Q1 FY27 revenue Rs. 527 crores, down from Rs. 669 crores prior quarter.
• EBITDA Rs. 702 million; margin about 13.6%.
• Profit after OCI Rs. 452 million (8.7%); total Rs. 455 million.
• Other income Rs. 103 million in the quarter.
• Raw materials cost about 65% of revenue.
• Exports were 13% of quarterly revenue.
• Q1 EPS around Rs. 30; highest quarterly EPS in four years.

Operations and Capex

• Capex Rs 120 crore program; Phase-1/1A ~40% complete.
• Phase-1 CAPEX already enabling production; Q4 demand expected stronger.
• Capex aims to add capacity for next 2-3 years.
• Automation expansion underway with automated lines.

Partnerships and Customer Dynamics

• Meritor HVS India collaboration extended to 2027; licensing and testing ongoing.
• Meritor aids India-specific product adaptation and go-to-market strategy.
• Ashok Leyland share target: aim for single-source for new products.
• OEMs typically adopt dual sourcing; current share varies.

Market Outlook and Guidance

• FY27 industry volumes expected 5-10% lower; best case match last year.
• Q2 expected to be in line with Q1; Q4 likely to peak.
• Exports in the year expected to remain in the 8-12% range.

Q&A Highlights

• Execution priorities: ready capacity via Phase-1/1A CAPEX; accelerate automation.
• Regulatory trends: BS-VI and OBD updates; products aligned.
• Meritor extension to 2027; collaboration to shape product strategy.
• CAPEX break-up not disclosed; focus on capacity for 2-3 years.
• Exports now 13% in quarter; annual range 8-12%.

Regulatory notice on STP effluent compliance (Mysuru plant)

• KSPCB issued notice on 4 Aug 2026 for STP treated water parameter exceedance.
• Company must bring effluent within standards and submit action taken report within 7 days.
• Company responded on 7 Aug 2026; STP analyses show parameters within prescribed limits.
• Delay in disclosure due to internal communication lapse; internal processes strengthened to prevent recurrence.
• Annexure-1 provides details; no quantified financial impact disclosed.

Meeting Details

• Analyst/Investor Conference Call on 6 August 2026 at 09:00 IST, organised for 1QFY27 update.

Participants

• Key participant: Company Secretary & Compliance Officer.

Purpose

• Discuss 1QFY27 financial performance.

Additional Notes

• Audio recording available on company website.

Financial results approved

• Board approved unaudited quarterly results for quarter ended 30 June 2026.
• Revenue from operations ₹5,168.21 million; total income ₹5,271.67 million.
• Profit after tax ₹455.96 million; basic EPS ₹30.17.
• Comparative quarter: revenue ₹6,642.99 million (Q4 2025-26).

Auditor's review

• Independent auditor stated no material misstatement in the unaudited results.
• Review conducted per SRE 2410; report issued with board-approved results.

Labour Codes impact

• Labour Codes impact: gratuity and leave liabilities increased by INR 119.87 million.
• Presented as exceptional item in year ended 31 March 2026.

Governance

• Board met on 5 August 2026 to approve the results.

Meeting Details

• Date: 5 August 2026.
• Time: not disclosed.
• Location: not disclosed.

Key Agenda Items

• Consider and approve unaudited financial results for quarter ended 30 June 2026.

Other Notes