Frontier Springs reported a 39.22% rise in revenue from operations to ₹322.06 crore for the fiscal year ended March 31, 2026, driven by broad-based growth across its coil springs, forging, and air springs divisions.

Profit after tax surged 76.88% to ₹61.31 crore, supported by a widening EBITDA margin that expanded by 533 basis points to 26.80%. The company entered the new fiscal year with an order book exceeding ₹370 crore.

The Board of Directors has scheduled the 46th Annual General Meeting for Tuesday, September 22, 2026, at 12:00 pm at Hotel Rajawat in Kanpur Dehat. Shareholders will vote on the adoption of audited financial statements and the re-appointment of Neeraj Bhatia as a director.

Financial Performance

Revenue growth was underpinned by higher volumes and improved pricing execution. Operating expenses rose at a slower pace of 29.69% to ₹236.88 crore, generating significant operating leverage. Return on capital employed improved by 823 basis points to 43.56%.

What the Numbers Show

The divergence between revenue growth (39%) and operating expense growth (30%) highlights strong operating leverage. Additionally, trade receivables increased to ₹60.89 crore from ₹38.44 crore, reflecting higher turnover as management attributes the rise to monthly sales volumes rather than collection delays.

Dividend and Capital Structure

The Board recommends a final dividend of ₹0.70 per equity share, subject to member approval at the AGM. During the year, the company issued 78,77,022 bonus shares in a 2:1 ratio, increasing paid-up capital to ₹118.16 crore. Total borrowings stood at ₹10.80 crore against cash balances of ₹3.50 crore, maintaining a low gross debt-to-equity ratio of approximately 0.06:1.

Strategic Developments

Frontier Springs scaled its air spring business for LHB coaches and commissioned a new 6-tonne hammer to expand forging capabilities. The company also received basic approval from the Research Designs and Standards Organisation for its indigenous Failure Indication and Brake Application system, aiming to replace imported safety components.

Frontier Springs Limited shareholders have approved the appointment of Sushil Kumar Luthra as an independent director through a postal ballot process. The special resolution was passed on August 26, 2026, following remote e-voting that concluded on the same date.

Frontier Springs disclosed the results on August 27, 2026, pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting process was conducted in compliance with Section 110 of the Companies Act, 2013.

Voting Results

The resolution required a special majority under Section 114(2) of the Companies Act, 2013. Shareholders holding approximately 52.34% of the paid-up equity share capital participated in the vote. Of the total votes cast, nearly all were in favour of the appointment.

S.K. Gupta & Co., the appointed scrutinizer, confirmed that the votes cast in favour exceeded three times the votes cast against, satisfying the requisite majority for a special resolution. No promoter or promoter group interest was disclosed in the agenda.

Process Details

The postal ballot notice was issued on July 25, 2026, and dispatched via email by National Securities Depository Limited (NSDL) to members registered as of July 24, 2026. The e-voting facility remained open from July 28, 2026, to August 26, 2026. Physical copies were not sent, adhering to exemptions provided under Ministry of Corporate Affairs circulars.