Bharat Seats Limited has scheduled its 39th Annual General Meeting (AGM) for Friday, July 24, 2026, at 11 a.m. through Video Conferencing (VC) and Other Audio Visual Means (OAVM). The deemed venue for the meeting is the company's registered office in New Delhi. The primary agenda includes the adoption of the audited financial statements for the financial year ended March 31, 2026, and the declaration of a dividend.

The Board of Directors has recommended a dividend of 75%, amounting to ₹1.50 per equity share of ₹2 each, for the financial year 2025-26. The total payout is estimated at ₹942 lakhs. The record date to determine shareholder eligibility for the dividend has been fixed as July 17, 2026. If approved, the dividend will be credited or dispatched between July 25, 2026, and August 22, 2026.

Shareholders will also vote on the re-appointment of Mr. Rishabh Relan as a Whole Time Director for a period of three years, effective from February 4, 2027, to February 3, 2030. Additionally, the meeting seeks approval for material related party transactions with Suzuki Motorcycle India Private Limited, proposing an upper limit of ₹1,000 crores per annum for the sale or supply of goods and materials.

The remote e-voting period will commence at 9:00 a.m. on July 21, 2026, and conclude at 5:00 p.m. on July 23, 2026. Mr. R.S. Bhatia and Mr. Hardev Singh have been appointed as scrutinizers to oversee the e-voting process.

The annual report for the financial year 2025-26, which includes the audited financial statements and the Board's report, has been sent to shareholders and is also available on the company's website.

Bharat Seats received four penalty orders totaling Rs 271.48 lakhs from the Income Tax Department, Office of the Deputy Commissioner of Income Tax, Central Circle 19, Delhi, on June 24, 2026. The orders were issued under section 271 DA read with section 269ST of the Income Tax Act, 1961, covering assessment years 2019-20, 2020-21, 2021-22, and 2024-25. The company disclosed this information in a regulatory filing submitted to the exchanges on June 25, 2026.

Penalty Breakdown

The penalties are distributed across the specified assessment years, with the highest charge levied for A.Y. 2021-22. The total demand of Rs 271.48 lakhs is broken down as follows:

Company Response and Impact

Bharat Seats has confirmed that it will be filing appeals against the orders for all the mentioned assessment years. Management stated that based on its own assessment and legal advice received, it is confident of a favorable outcome in these appeals. Consequently, the company has stated that no impact is envisaged on its financials, operations, or other activities as a result of these orders. The disclosure was made within 24 hours of receiving the orders.