Blue Dart Express Ltd

Pricing update

• General price increase across domestic portfolio ranges from 9% to 12%.
• Customers signing up between Oct 1 and Dec 31, 2026 will be exempt.
• The increase funds continued investment in service quality and network capabilities.

MD appointment process

• Board approved postal ballot to seek member approval for Mr. R. S. Subramanian as Managing Director.

Independent director tenure and resignation

• Kavita Nair’s tenure as Independent Director expires September 25, 2026.
• Charles Simon Dobbie resigns as Non-Executive Director effective September 25, 2026.

New Non-Executive Chairman

• Sebastian Paeßens appointed Non-Executive Chairman effective September 26, 2026.

Independent director appointments

• Rajat Kumar Jain and Avijit Mukerji appointed as Independent Directors.

Committee reconstitution and governance impact

• Committees reconstituted with new Independent Directors, effective Sept 26, 2026.
• Board-approved revised committee composition across Audit, NRC, Risk, CSR, and SRC.

AGM Details

• Date and time: 22 September 2026, 12:00 IST.
• Mode: VC/OAVM.
• Record date: 15 September 2026; shareholders on record: 39,058.
• Attendance via VC/OAVM: promoters 2, public 50; no physical attendance.
• Remote e-voting window: 17–21 September 2026.

Resolutions

• Resolution 1 (Ordinary): Adopt audited standalone and consolidated financial statements; passed.
• Resolution 2 (Ordinary): Dividend of Rs 25 per equity share declared; passed.
• Resolution 3 (Ordinary): Re-appoint Sebastian Paelsens as Director (retire by rotation); passed.
• Resolution 4 (Ordinary): Revise remuneration of Managing Director; passed.
• Resolution 5 (Ordinary): Approve commission to Non-Executive Directors for five years; passed.
• Resolution 6 (Ordinary): Appoint Charles Simon Dobbie as Director, liable to retirement by rotation; passed.
• Resolution 7 (Special): Appoint Rajat Kumar Jain as Independent Director for five years; passed.
• Resolution 8 (Special): Appoint Avijit Mukerji as Independent Director for five years; passed.

Dividend

• Dividend of Rs 25 per equity share approved.

Director changes

• Sebastian Paelsens reappointed as Director (retire by rotation).
• Charles Simon Dobbie appointed as Director (retire by rotation).
• Rajat Kumar Jain appointed Independent Director for five years.
• Avijit Mukerji appointed Independent Director for five years.

Material Related Party Transactions

• No material related party transactions approved.

agm details

• AGM held on 22 Sep 2026 via VC/OAVM; 12:00–14:18 IST.

key resolutions

• Adoption of standalone financial statements for year ended 31 Mar 2026 (Ordinary) — approved.
• Adoption of consolidated financial statements for year ended 31 Mar 2026 (Ordinary) — approved.
• Dividend declaration of Rs 25 per equity share for FY 2026 (Ordinary) — approved.
• Re-appointment of Sebastian Paellens (DIN 09058693) as Director (Ordinary) — approved.
• Remuneration revision for MD Balfour Manuel (DIN 08416666) for 01 Apr 2026–31 Mar 2027 (Ordinary) — approved.

voting results

• All resolutions passed; no material dissent reported.

director changes

• Sebastian Paellens re-appointed as Director; retires by rotation.

auditors / other approvals

• No auditor appointments; reports of auditors presented with financial statements.

Leadership transition

• R.S. Subramanian appointed Managing Director effective 30 November 2026, subject to approvals.
• Balfour Manuel to step down as MD on 29 November 2026; will serve as advisor until May 2027.
• Subramanian currently Senior VP, DHL Express South Asia and MD, DHL Express India; board member since 2019.
• Ensures continuity across strategic priorities through transition.
• Appointment subject to requisite approvals.

Director / KMP changes

• Resignation of Mr. Balfour Manuel as Managing Director effective Nov 29, 2026.
• He will serve as Senior Strategic Advisor to the MD until May 15, 2027.
• Waiver of six-month notice period approved for his MD termination.
• Appointment of Mr. R. S. Subramanian as MD from Nov 30, 2026 to May 25, 2030.
• Subject to shareholders and other statutory approvals.
• Mr. Subramanian, 61, is SVP South Asia and MD of DHL Express India.
• No inter-se relatedness with other Directors.
• Not debarred from holding office by SEBI or other authorities.
• Balfour Manuel ceases as Director of Blue Dart Aviation Ltd from Nov 29, 2026.

Resignation of MD – Balfour Manuel

• Resignation: Mr. Balfour Manuel to resign as MD effective close of business on November 29, 2026.
• Waiver of six-month notice period approved.
• Reason: to enable smooth succession due to personal commitments.
• Manuel confirms no other material reasons for resignation.
• Manuel will serve as Senior Strategic Advisor to the MD until May 15, 2027.

Appointment of MD – R. S. Subramanian

• Appointment: Mr. R.S. Subramanian appointed MD from Nov 30, 2026 to May 25, 2030, subject to approvals.
• Effective date: November 30, 2026.
• Term: Nov 30, 2026 to May 25, 2030.
• Profile: SVP South Asia and MD, DHL Express India; 30+ years' experience.
• Disclosures: No inter-se relationship with other directors.
• Not debarred from holding office.

AGM & Annual Report Access

• 35th AGM scheduled for 22 September 2026 at 12:00 IST via VC/OAVM.
• Annual Report FY2025-26 available online; link provided on company site.
• Letter to members without registered email IDs issued; email-registration cut-off on August 21, 2026.
• Intimation also uploaded on Blue Dart's website.

KYC & Shareholder Communications

• Reminder to update KYC and dematerialise physical securities per SEBI Circular 2024.
• SEBI circular requires PAN, address, mobile, bank details, signature, and nomination for physical holders.
• Folio holders lacking updated details will receive payments only electronically from April 1, 2024.
• KYC formats and related material available on MUFG Intime portal.

Key financials & operations

• Revenue from operations: ₹6,14,088 lakh in FY26 (YoY ~7.4%).
• EBITDA: ₹64,918 lakh.
• PAT: ₹23,969 lakh; prior year ₹24,463 lakh.
• EPS: ₹101.0; vs ₹103.1 prior year.
• Net cash from operating activities: ₹81,025 lakh.
• Final dividend: ₹25 per share; record date Sep 15, 2026.
• Domestic shipments: 4,034.21 lakh; International shipments: 5.62 lakh.
• Total shipment weight: 14.38 lakh tonnes.
• EV fleet: 599 vehicles.
• North Integrated Ground Hub at Pataudi operational.