Bharat Seats Limited has announced its audited financial results for the quarter and financial year ended March 31, 2026, following a Board of Directors meeting held on May 6, 2026. The board approved the annual financial statements, recommended a final dividend, sanctioned capital expenditure for new programmes, and fixed the date for the 39th Annual General Meeting. The financial results were reviewed by the Audit Committee and approved by the Board, with an unmodified opinion issued by statutory auditors M/s S.R. Batliboi & Co., LLP, Chartered Accountants.

Financial Performance

Bharat Seats delivered strong revenue and profit growth for the full financial year. Revenue from operations rose to ₹1,95,095.14 lakhs from ₹1,28,882.47 lakhs in the previous year. Total income for the year stood at ₹1,95,623.38 lakhs compared to ₹1,29,241.04 lakhs previously. Net profit for the year grew to ₹4,223.12 lakhs from ₹3,270.03 lakhs, while total comprehensive income for the year was ₹4,201.52 lakhs against ₹3,275.03 lakhs in the prior year. Basic and diluted earnings per share (EPS) for the full year stood at ₹6.72, up from ₹5.21. For Q4, the company reported net profit of 132M rupees versus 114M rupees in the same quarter of the previous year, on revenue of 5.74B rupees compared to 3.93B rupees year-on-year. Q4 EBITDA stood at 296M rupees versus 227M rupees year-on-year, with EBITDA margin at 5.17% compared to 5.78% in the prior-year quarter.

The following table summarises the key financial metrics:

The table below captures Q4 EBITDA performance:

Balance Sheet Highlights

As at March 31, 2026, total assets stood at ₹73,665.04 lakhs compared to ₹64,770.38 lakhs as at March 31, 2025. Total equity increased to ₹22,965.99 lakhs from ₹19,455.27 lakhs. Cash and cash equivalents at year-end rose to ₹1,530.86 lakhs from ₹295.58 lakhs. Net cash flow from operating activities for the year was ₹10,670.87 lakhs, while net cash used in investing activities was ₹4,720.21 lakhs.

Dividend and Capital Expenditure

The Board has recommended a final dividend of 75%, amounting to ₹1.50 per equity share of face value ₹2/- each, aggregating to ₹942.00 lakhs, subject to shareholder approval at the ensuing Annual General Meeting. The record date for the purpose of dividend has been fixed as July 17, 2026. Additionally, the Board approved capital expenditure of approximately ₹86.61 crores for new programmes of Maruti Suzuki India Limited, for the company's plants at Kharkhoda and Gujarat Navyani, in the ordinary course of business.

Exceptional Item and Income Tax Matter

The financial results include an exceptional item of ₹137.37 lakhs recognised in the quarter ended December 31, 2025 and the year ended March 31, 2026, arising from the implementation of the New Labour Codes effective November 21, 2025. This amount covers incremental gratuity and compensated absences obligations. Separately, the company received demand orders from the Income Tax Department amounting to ₹2,243.72 lakhs (excluding penalties) for Assessment Years 2014-15 to 2024-25, along with a penalty demand of ₹524.28 lakhs for Assessment Year 2022-23. Following appeals, the Commissioner of Income Tax (Appeals) has reduced the demand to ₹245.25 lakhs for Assessment Years 2013-14 to 2024-25, except for Assessment Year 2022-23, for which the order is still awaited. The total demand for Assessment Year 2022-23 stands at ₹756.75 lakhs (including penalties). Management has expressed confidence in a favourable outcome, and no adjustment has been made to the financial results pending the outcome of appeal proceedings.

Director Re-appointment

The Board recommended to shareholders the re-appointment of Mr. Rishabh Relan (DIN: 07726444) as Whole Time Director for a further term of three years with effect from February 4, 2027 to February 3, 2030. Mr. Rishabh Relan, aged 35 years, has been associated with the company since August 2012 and has been Whole Time Director since February 2021. He holds a Bachelor's degree in Industrial Engineering from Georgia Institute of Technology, Atlanta, USA, and a Diploma in Six Sigma in lean manufacturing from the Institute of Industrial Engineering, United States. He is the son of Mr. Rohit Relan, Chairman and Managing Director of the company.

The board meeting commenced at 3:15 p.m. and concluded at 4:50 p.m. on May 6, 2026. The results were signed by Rohit Relan, Chairman and Managing Director, and the intimation was submitted by Ritu Bakshi, Company Secretary and Compliance Officer.

Bharat Seats Limited has announced a substantial acquisition disclosure regarding the acquisition of equity shares by Rohit Relan Family Trust during the financial year 2025-26. The company informed the stock exchange about this development on April 28, 2026, in compliance with regulatory requirements.

Acquisition Details

The disclosure reveals significant shareholding changes in the company's ownership structure:

Regulatory Compliance

The acquisition was conducted under specific regulatory provisions and exemptions. The trust operated under SEBI exemption order no. WTM/KCV/CFD/03/2025-26 dated September 4, 2025, issued under Regulation 11(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

As per the exemption order requirements, the trust obtained compliance certification from an independent auditor. The compliance certificate was issued on April 16, 2026, confirming adherence to the prescribed regulatory framework.

Disclosure Process

Bharat Seats Limited received the disclosure documents along with the compliance status certificate from Rohit Relan Family Trust. Company Secretary and Compliance Officer Ritu Bakshi (Membership No. F3401) signed the disclosure letter on behalf of the company.

The disclosure was made pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in substantial shareholding changes. The company has forwarded copies of the disclosure to both the stock exchanges and SEBI for their records and public dissemination.

Trust Information

Rohit Relan serves as the Managing Trustee of Rohit Relan Family Trust. The trust is based at 25, Sardar Patel Marg, Chanakyapuri, New Delhi - 110021. The acquisition represents a significant investment in Bharat Seats Limited, establishing the trust as a substantial shareholder in the automotive seating solutions company.