Maharashtra Scooters Ltd

AGM Details

• 51st AGM held on 29 July 2026 at 10:45 a.m. IST via VC/OAVM (e-AGM).
• Record/cut-off date for voting: 22 July 2026; shareholders on cut-off: 25,287.

Key Resolutions

• Item 1 (Ordinary): Adopt audited financial statements for year ended 31 March 2026.
• Item 2 (Ordinary): Declare final dividend of Rs 60 per equity share for year ended 31 March 2026.
• Item 3 (Ordinary): Appoint Ravikumar Srinivasan as director (re-appointment by rotation).

Dividend

• Final dividend of Rs 60 per equity share approved.

Director Changes

• Ravikumar Srinivasan retires by rotation and is re-appointed.

Voting Results

• Item 1 passed; 99.996% in favour, 0.004% against.
• Item 2 passed; 99.996% in favour, 0.004% against.
• Item 3 passed; 99.6181% in favour, 0.3819% against.

Financial results

• Unaudited Q1 2026 results approved; Board reviewed; limited review on quarter ended 30 June 2026.

MOA amendments and new business

• MOA to delete scooter clauses; insert investment clause; subject to Members' approval.

Name change

• Board approved change of name; subject to regulatory and Members' approvals.

Regulatory/compliance context

• Maintain Unregistered CIC status; align new business with RBI Master Directions; pursue renewable energy opportunities.

Auditor remarks

• Independent auditor's review: no material misstatement; not an audit; limited review.

Dematerialisation processing status

• Demat requests processed within 15 days of receipt; decisions were approved or rejected.
• Securities dematerialised were listed on the stock exchanges where the earlier issued securities are listed.
• Physical certificates were mutilated and cancelled after due verification.
• Depository names were substituted in the register of members as registered owner for approved demat.

Meeting Details

• Board meeting scheduled for July 29, 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve unaudited financial results for the quarter ended 30 June 2026.

Other Notes

• Trading window closed 1 July to 31 July 2026 for designated persons and relatives.

Overview

• Standalone BRSR for FY2025-26; main activity: investment in securities (non-operating holding).
• One office in Pune; no plants or international operations; boundary is standalone.
• SGS India conducts reasonable assurance for core indicators and limited assurance for non-core indicators.
• CSR: CSR applicable; turnover ₹31,324 lakh; net worth ₹68,877 lakh.

Key ESG Risks & Opportunities

• High concentration of related-party transactions: purchases 38.35%, sales 97.01%, investments 99.11%.
• No material RB issues identified; governance via Code of Ethics and Personal Conduct; no ESG committee.
• Board oversight via Joint Managing Director; engagement with investors/government/employees/society on a need basis.
• Assurance by SGS enhances data reliability; no penalties or disputes disclosed.

Governance & Policy Highlights

• No dedicated sustainability committee; BR policy overseen by the Board via Joint MD.
• Policies include Responsible and Sustainable Business Conduct Policy; Code of Ethics and Personal Conduct; Whistleblower policy; anti-bribery measures; approved Oct 2022.
• No fines or penalties recorded for FY2026.
• SGS India independent assurance; core indicators reasonably assured; non-core limited assurance.
• Shareholders reported 52 complaints in FY2026; 27 in FY2025; all resolved; no pending.
• Bajaj Holdings & Investment Ltd holds 51%; not participating in BR initiatives.

Social Responsibility & Workforce

• Total employees: 5 permanent; all male.
• 100% health and accident insurance coverage for employees.
• 5 employees trained on health, safety, and code of conduct.
• Grievance mechanisms include Whistle Blower Policy and Prevention of Sexual Harassment framework.
• No POSH complaints in FY2026 or FY2025.
• CoEPC provides equal opportunity and disability inclusion; office premises are accessible.

Environmental Performance

• Energy use from own operations is nil; host facility accounts for energy consumption.
• Scope 1 and Scope 2 emissions are nil.
• Water withdrawal and consumption nil.
• No waste generated due to absence of own manufacturing; office/shared premises omit waste data.
• No environmental certifications or targets reported.

Stakeholder Engagement & Complaints

• Key stakeholders: investors, government/regulators, employees, society; engagement annually or as needed.
• Channels include email, stock exchanges, website; purpose to inform major developments.
• Shareholders filed 52 complaints in FY2026; 27 in FY2025; all resolved.
• No unresolved complaints from employees, government, or society reported.
• Data privacy: no data breaches reported.

Other Notable Metrics

• RPT share in purchases 38.35%, sales 97.01%, investments 99.11%.
• 100% turnover from investments; single Pune office; no customer interface.
• Bajaj Holdings owns 51%; BR initiatives not pursued by the holdco.
• SGS assurance confirms BRSR and GHG inventory data; June 26, 2026 verification.
• No employees interface with external customers; operations hosted in shared workspace.

Overview

• BRSR for FY2026 filed with BSE and NSE; part of annual report.

Assurance & Accessibility

• Assurance provided by SGS India Private Limited; report available on company website.

Filing Context

• Regulation 34(2)(f) SEBI LODR requirement fulfilled.

Filing Details

• Issuer: Maharashtra Scooters Ltd.
• Filing date: 4 July 2026.

Financial performance

• FY2026 total income 31,324 lakh; FY2025 18,520.
• PAT 31,056 lakh; up from 21,435.
• EPS 271.7; up from 187.6.
• Interim dividend 160 per share; record date 22 Sep 2025.
• Final dividend proposed 60 per share; record date 30 Jun 2026; payable by 4 Aug 2026.
• Total dividend for FY2026: 25,142 lakh.
• Revenue mix: interest income 2,556; dividend income 28,602; FV changes 118.
• No borrowings; liquidity supported by cash and investments.

Capital structure & liquidity

• Equity share capital Rs 1,143 lakh; 11,428,568 shares.
• Promoter Bajaj Holdings 51% stake.
• Investments total Rs 30,758.6 crore; major Bajaj group equities.
• Cash and bank balances at year-end: 6 lakh cash, 752 lakh balances.
• No borrowings in FY2026.

Dividends & shareholding

• Shareholding: Bajaj Holdings 51%; FIIs 6.34%; Residents 27.41%; Others 3.94%.
• Dematerialisation: NSDL 84.32%; CDSL 14.59%; Physical 1.09%.
• Unclaimed dividends: suspense 4,461 shares across 42 holders; 6,944 shares transferred to IEPF.
• Shareholder complaints: 52 filed; 51 solved; 1 pending.

Governance & management

• Board: 6 directors; 2 Joint Managing Directors; 3 independent; chair Sanjiv Bajaj.
• Independent directors met 16 Mar 2026; independence confirmed.
• Audit Committee: independent directors; 5 meetings.
• Remuneration: Rs 100k per meeting; JMDs fixed remuneration; no stock options.

CSR & ESG

• CSR obligation 105 lakh; expenditure 106 lakh; no unspent CSR.
• CSR Committee: Mayur Patwardhan (Chair), Sanjiv Bajaj, Ravikumar Srinivasan.
• CSR projects: child education, child health, youth skilling.
• BRSR assurance: SGS; Core indicators verified; GHG nil.

Audit & risk management

• Statutory auditors KKC & Associates LLP; no qualifications.
• Secretarial auditors DVD; MR-3 unmodified; governance certificate.
• Internal controls adequate; audit committee reviews internal audit reports.