Autoline Industries delivered its highest-ever annual revenue of ₹822.29 crore in FY26, up 25.17% YoY, while profit after tax more than doubled to ₹38.66 crore. The company has scheduled its 30th Annual General Meeting for September 26, 2026, via video conferencing.

The strong performance was driven by higher volumes across passenger vehicle and commercial vehicle programmes, successful ramp-up of the Sanand manufacturing facility, and improved capacity utilisation. Q4 FY26 revenue reached approximately ₹289 crore, reflecting 48.51% YoY growth over Q4 FY25. Net worth rose 33.25% YoY to ₹203.99 crore, strengthening the balance sheet for future growth.

Key Financial Performance

The following table summarises Autoline's standalone financial highlights for FY26 versus FY25:

On a consolidated basis, revenue reached ₹824.05 crore, up 25.13% from ₹658.55 crore in FY25, while consolidated PAT stood at ₹38.50 crore, up 112.59% YoY.

Five-Year Financial Trajectory

Autoline's revenue from operations has grown consistently over five years:

Revenue Mix and Customer Growth

Passenger vehicles emerged as the primary growth driver, contributing a record-high 33% share of overall revenue and achieving sales of ₹270 crore, reflecting 59% YoY growth. Business with Mahindra & Mahindra doubled from the FY25 base. Commercial vehicles delivered stable sales of ₹264 crore. The company supplied components across 25 vehicle variants in FY26, up from 5 variants in 2022.

The FY26 revenue mix by business division was as follows:

AGM Agenda and Director Reappointments

The 30th AGM, to be held on September 26, 2026 at 3:00 pm IST via video conferencing, will seek shareholder approval on the following key items:

• Adoption of audited standalone and consolidated financial statements for FY26
• Reappointment of Ms. Aishwarya Shivaji Akhade as Executive Director (retires by rotation)
• Payment of commission of ₹6,15,000 each to four non-executive directors for FY26
• Reappointment of Shivaji Tukaram Akhade as Managing Director for five years from October 1, 2026, with an annual CTC of ₹85,00,000
• Reappointment of Sudhir Vitthal Mungase as Whole-time Director for five years from October 1, 2026, with an annual CTC of ₹61,48,488

The non-executive director commissions approved by the Board on May 15, 2026 are as follows:

Remote e-voting opens September 23, 2026 at 9:00 am and closes September 25, 2026 at 5:00 pm, facilitated through NSDL. The cut-off date for voting eligibility is September 18, 2026.

Strategic Developments

The Board approved the Scheme of Amalgamation of wholly owned subsidiary Autoline Design Software Limited (ADSL) with Autoline Industries, subject to regulatory approvals, with an appointed date of April 1, 2025. The proposed merger is expected to integrate engineering, technology, and manufacturing capabilities. Total capex spend in FY26 stood at ₹119.82 crore. The company also completed the divestment of its entire stake in Autoline Industrial Parks Limited, generating a net exceptional gain of ₹2,184.21 lakh.

What the Numbers Show

The PAT margin improved to approximately 4.9% in FY26 from approximately 2.9% in FY25, reflecting operating leverage from higher volumes and improved product mix. The debt-to-equity ratio declined from 2.01 to 1.59, indicating a strengthening balance sheet. The EBITDA margin stood at 9.51% on a consolidated basis. The company's EPS of ₹8.62 in FY26 compares with ₹2.09 in FY22, reflecting a sustained multi-year profitability recovery.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE718H01014/777a28ff-0529-47a5-8652-4454af7823f1.pdf

Autoline Industries has received a ₹100 crore order from Tata Motors Passenger Vehicles Limited for supply of critical components for SUV applications, covering both ICE and EV vehicles. This is the company's second large order from the same entity in Q2FY27.

Order Details

Both orders are classified as Large. The August order was disclosed as a mobilisation or LNTP (Letter of Intent to Proceed) filing, representing a selection or pre-qualification stage rather than a confirmed work order. The September order terms, as disclosed, cover supply of critical components for SUV applications for ICE and EV vehicles.

Autoline Industries has now received orders exclusively from Tata Motors Passenger Vehicles Limited in the recent disclosed window, making it the sole awarding entity in the visible order book.

Order in Financial Context

The ₹100 crore new order, added to the previously disclosed ₹110 crore mobilisation order, brings total disclosed inflows from Tata Motors Passenger Vehicles Limited to ₹210 crore across Q2FY27. The company's average quarterly revenue stands at ₹239.75 crore.

For the earlier LNTP filing, the ₹110 crore figure primarily reflects advance engineering and tooling commitments. The recurring annual revenue stream of ₹80 crore from that order is contingent on future volume orders following formal contract issuance.

Company Order Track Record

The pre-computed quarterly order summary below reflects disclosed orders as of the prior filing. The new ₹100 crore order disclosed on 03 Sep 2026 is captured in the Order Details table above and falls within Q2FY27.

Execution and Revenue Quality

Consolidated revenue has shown volatility in recent quarters. Q4FY26 saw a spike in net profit driven partly by other income, while Q1FY27 net profit normalised on higher operating profit but lower other income. Operating Profit Margin (OPM) remained relatively stable between 7.22% and 9.84% over the last three quarters.

Revenue Growth

Annual revenue has grown from ₹662.60 crore in FY25 to ₹824.05 crore in FY26, representing a YoY growth of +24.4% based on the latest annual data. This acceleration follows a period of near-flat growth in FY24 and FY23.

Working Capital and Execution Capacity

The balance sheet signals tight liquidity. The current ratio stands at 0.79x, indicating that current liabilities exceed current assets. Total Liabilities/Equity is elevated at 2.80x, which includes trade payables and non-debt liabilities alongside any borrowings. Operating cashflow was positive at ₹66.20 crore in FY25, but free cashflow remained negative at -₹89.00 crore due to significant capex of -₹155.20 crore.

What to Watch

• Formal work order issuance: The August hatchback order remains at mobilisation stage. Revenue recognition for the annual recurring component begins only after the full contract is signed.
• SUV order execution: The September ₹100 crore order covers ICE and EV vehicle components; progress on supply commencement will be a key indicator.
• OPM trajectory: Watch if margins on these new components hold above the historical average of approximately 9%.
• Client concentration: Both disclosed orders are from Tata Motors Passenger Vehicles Limited, representing 100% of the visible order pipeline and creating high concentration in a single customer.

Key Observations

• Contract structure (August order): The ₹110 crore is a mobilisation or LNTP order. Revenue recognition begins only after formal work order issuance. The figure represents advance engineering costs and tooling, not the full confirmed contract value.
• New SUV order (September order): The ₹100 crore order covers supply of critical components for SUV applications for both ICE and EV vehicles, as disclosed in the filing.
• Valuation check (as of 03 Sep 2026): P/E of 9.7x against ROCE of 14.72%.
• Leverage flag: Total Liabilities/Equity of 2.80x; balance sheet carries elevated liabilities, and ability to fund working capital for the existing backlog should be monitored.
• Cash conversion: Free cashflow of -₹89.00 crore in FY25; backlog is not converting to cash efficiently due to high capex requirements.