Divgi TorqTransfer Systems Limited has announced that its board has formally accepted the resignation of Chief Information Officer Mr. Pulak Das during a board meeting held on March 25, 2026. The company has informed both BSE and NSE about this senior management change in compliance with regulatory requirements.

Board Meeting Outcome

The board of directors convened on March 25, 2026, from 12:30 PM to 1:07 PM to address the resignation matter. The board formally accepted and noted Mr. Pulak Das's resignation from his position as Chief Information Officer and Senior Management Personnel. His resignation became effective from the closing of working hours on March 25, 2026.

Timeline and Process

The resignation process followed a structured timeline with multiple regulatory touchpoints. The management initially accepted Mr. Das's resignation on March 23, 2026. Subsequently, the company intimated stock exchanges on March 24, 2026, under reference DTTS/Sec/25-26/92, before the formal board meeting on March 25, 2026.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive documentation including formal intimation to stock exchanges, detailed annexure with required information under SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015, and copy of the resignation letter.

Company Secretary and Compliance Officer Aniket Kokane (A51571) signed the regulatory filing with digital signature on March 25, 2026, at 1:16 PM, ensuring all necessary disclosures were made to maintain transparency with investors and stakeholders.

Company Information

Divgi TorqTransfer Systems Limited, incorporated in 1964 with CIN L32201MH1964PLC013085, operates from its facility at 75, General Block, MIDC Bhosari, Pune 411026. The company specializes in automotive components and maintains its corporate presence in the Indian manufacturing sector. The resignation represents a routine senior management change, with the company fulfilling all regulatory obligations for transparency and investor communication.

Divgi TorqTransfer Systems Limited delivered exceptional performance in Q3 FY26, achieving its highest ever quarterly total income while securing major export orders that position the company for sustained growth.

Record Financial Performance

The company reported outstanding financial results for Q3 FY26, surpassing its previous best performance from Q2 FY26. Key financial highlights demonstrate strong operational execution across business segments.

For the nine months of FY26, the company achieved total income of INR261.4 crores, marking a robust 48% year-on-year growth from INR176 crores in the corresponding period of FY25. This represents the highest ever nine-month performance in the company's history.

Major Export Order Wins

The company announced significant strategic developments with order confirmations from two key OEM customers for the Indonesian market. Mahindra & Mahindra and Tata Motors have each secured orders for 35,000 pickup trucks, totaling 70,000 units for export to Indonesia.

Under these exclusive arrangements, Divgi TorqTransfer Systems will serve as the sole supplier of transfer case systems and allied products to both OEMs. This represents a significant milestone in supporting Indian OEMs' global expansion journey and provides strong medium-term volume visibility for the Transfer Case business.

Segment-wise Performance Analysis

Transfer Case Business

The Transfer Case segment delivered strong performance with 58% year-on-year growth in the nine months of FY26. Current quarterly volumes average 13,500 to 15,000 units, with manufacturing capacity of up to 9,000 units per month across two assembly lines.

Components Business - Star Performer

The Components segment emerged as the standout performer, recording impressive growth of over 120% year-on-year in the nine months of FY26. Export revenues reached a quarterly run rate of approximately INR19 crores, compared to negligible levels in FY23.

Global Customer Expansion

The company strengthened its export footprint by commencing supplies to new geographies including Portugal and Europe. Key export customers include BorgWarner and Magna, reflecting growing acceptance within global supply chains.

Strategic Developments and Future Outlook

The company is progressing on multiple strategic initiatives, including engagement with a leading Japanese OEM for transfer case development with SOP expected in the first half of FY28. Additionally, the company has an exclusive distribution agreement with Toyota Tsusho India Private Limited for global market penetration.

Management expressed confidence in achieving the long-term growth aspiration of delivering 12% to 15% CAGR over five years with FY20 as the base year. The company is also evaluating feasibility for establishing a manufacturing footprint in the United States, with preliminary conclusions expected by end of Q1 FY27.

The quarterly revenue run rate is now approaching the range of INR90 crores to INR100 crores, signaling entry into an exciting phase of growth supported by sustainable business strategies and execution capabilities built over recent years.

Source: Divgi TorqTransfer Systems Limited Q3 and 9 months FY2026 Earnings Conference Call Transcript