Azad India Mobility Limited approved its Board Report for the fiscal year ended March 31, 2026, during a board meeting held on August 25, 2026. The company also fixed the date for its 65th Annual General Meeting (AGM).

The board scheduled the AGM for Monday, September 28, 2026, at 12:30 pm. The meeting will take place at The Kanara Saraswat Association in Mumbai. Shareholders are advised to note that the share transfer books will remain closed from September 22 to September 28, 2026.

Key Corporate Actions

The board approved several key administrative and compliance matters during the session:

• AGM Notice: The notice for the 65th AGM was approved alongside the date and venue fixation.
• E-voting Cut-off: September 21, 2026, was set as the cut-off date to determine eligibility for remote e-voting and voting at the AGM.
• Internal Auditor Re-appointment: The board reappointed M/s Pratik Satyuga & Company as the internal auditor for FY27, effective August 25, 2026.

Auditor Details

The re-appointment of M/s Pratik Satyuga & Company follows recommendations from the audit committee. The firm, led by Mr. Pratik Satyuga, brings eight years of experience in audit, assurance, and taxation services.

The company secretary confirmed that there are no relationships between the directors and the appointed auditor. The meeting concluded at 5:00 pm.

Azad India Mobility Limited reported a marked improvement in its financial results for the first quarter ended June 30, 2026 (Q1FY27), driven by strong top-line growth and significant margin expansion. The company’s net profit rose sharply to ₹0.78 crore, up from ₹0.07 crore in the corresponding period of the previous year. This represents more than a ten-fold increase in bottom-line earnings, indicating substantial operational leverage as the business scales.

Revenue growth accompanied the profit surge, with total income reaching ₹16.77 crore in Q1FY27, compared to ₹7.70 crore in the prior year. This implies that revenue more than doubled, outpacing the proportional increase in net profit, which suggests that cost structures scaled efficiently relative to sales volume. For the full year FY26, total income stood at ₹64.94 crore, approximately seven times the prior year, with a net profit of ₹2.39 crore.

Financial Performance Overview

The quarter’s results highlight a dual expansion in both revenue and net income, alongside a notable improvement in profitability margins. Below is a summary of the key financial metrics disclosed:

What the Numbers Show

The divergence between revenue growth and net profit growth is notable. While revenue increased by approximately 118%, net profit expanded by over 1,000%. This suggests that fixed costs remained relatively stable or decreased as a percentage of revenue, allowing a larger share of incremental revenue to flow directly to the bottom line. The expansion in net profit margin from 0.90% to 4.65% reflects improved absorption of fixed costs, a richer product mix, and tighter procurement discipline as build volumes rise.

Order Book and Business Highlights

The company holds confirmed orders equivalent to approximately 24 months of production from intercity and fleet operators including Fresh Bus, Zing Bus, and Payanam. AIML is also in advanced-stage discussions with a State Transport Undertaking, which would represent its first institutional public-transport engagement. Furthermore, the company is exploring export opportunities, including discussions for a potential supply of more than 2,000 electric buses to Indonesia over a three-year horizon, though no binding agreement has been executed.

Management expects total income to exceed ₹150 crore in FY27, with deliveries weighted towards the second half of the financial year. This outlook is supported by the scheduled release of the confirmed order book and the commissioning of additional production capacity.