Highway Infrastructure Limited will hold its 21st Annual General Meeting (AGM) on Thursday, September 24, 2026. The company has confirmed the schedule and provided web links for shareholders to access the meeting notice and the Annual Report for FY26.

The meeting will be conducted via video conferencing or other audio-visual means (OAVM) starting at 3:00 pm IST. The company disclosed this information in a regulatory filing dated August 24, 2026, pursuant to SEBI Listing Regulations. Shareholders who have not registered their email addresses will receive letters containing the weblink to the notice and annual report.

Key Agenda Items

The AGM notice outlines specific resolutions for shareholder approval:

• Reappointment of Director: Shareholders will consider the reappointment of Mr. Anoop Agrawal (DIN: 00006120), who is retiring by rotation under Section 152(6) of the Companies Act, 2013.
• Secretarial Auditor Appointment: The company seeks approval to appoint M/s. Ritesh Gupta & Co., Practicing Company Secretaries, as secretarial auditors for a term of five consecutive years, from FY27 to FY31.

Auditor Details and Remuneration

M/s. Ritesh Gupta & Co. holds a valid peer review certificate and has confirmed no conflict of interest in the appointment. The Board approved the firm's selection based on its expertise in corporate governance and regulatory compliance.

• Tenure: Five years (April 1, 2026 to March 31, 2031)
• Remuneration: ₹1,00,000 for FY27, with subsequent years' fees to be mutually agreed upon.

Voting and Participation

Shareholders can cast votes through remote e-voting via Central Depository Services (India) Limited (CDSL). The e-voting period runs from Monday, September 21, 2026, at 9:00 am to Wednesday, September 23, 2026, at 5:00 pm. Only shareholders on record as of September 18, 2026, are eligible to vote.

Participants can join the virtual meeting 15 minutes before the scheduled start time. The facility is available to at least 1,000 members on a first-come, first-served basis, excluding large shareholders holding 2% or more, promoters, and institutional investors, who have unrestricted access.

Accessing Annual Report

The Annual Report for FY26 is available on the company website at www.highwayinfrastructure.in under the Investor Information section. It is also accessible on the BSE and NSE websites. Shareholders without registered email addresses are advised to update their details with their Depository Participants or the Registrar and Share Transfer Agent to receive future communications electronically.

Highway Infrastructure posted a 170.6% year-on-year revenue surge to ₹304.3 crore for the quarter ended June 30, 2026. However, profitability contracted as EBITDA fell to ₹4.8 crore and net profit dropped to ₹1.1 crore, weighed down by temporary tolling disruptions.

The company attributed the margin pressure to lower traffic volumes at the Moti Naroli toll project due to geopolitical developments and global trade disruptions. Management noted that these factors were temporary and localized to the first quarter, with traffic trends showing signs of recovery in July 2026.

Financial Performance

Revenue growth was driven by steady execution across its diversified verticals, including engineering, procurement, and construction (EPC), tollway collection, and real estate. The consolidated order book stood at approximately ₹778 crore as of June 30, 2026, providing visibility for future execution.

Order Book and Pipeline

Management highlighted a healthy bidding pipeline and recent wins in the toll segment. In July 2026, the company secured a new tollway collection contract valued at approximately ₹28.7 crore for the Kozhinjipatti toll plaza in Tamil Nadu. It also received a letter of acceptance for operations at a fee plaza on NH-44 with a contract value of approximately ₹80 crore.

Saurabh Mittal, Joint Chief Financial Officer, stated that including recent wins, the total work order stands at ₹900 crore, with EPC comprising nearly ₹500 crore. The company targets a turnover of ₹850 crore for FY27, with ₹700 crore expected from the toll segment.

What the Numbers Show

The divergence between the 170.6% revenue growth and the sharp contraction in profitability highlights the sensitivity of the tolling business to external shocks. While top-line expansion suggests robust order conversion or higher throughput in other segments, the low EBITDA of ₹4.8 crore indicates that the toll segment’s contribution to margins was severely impacted by the temporary traffic drop. This structural vulnerability underscores management’s stated strategy to diversify geographically into states like Tamil Nadu and Andhra Pradesh to hedge against regional risks.

Strategic Outlook

Riddharth Jain, Director and Chief Executive Officer, emphasized a shift toward technology integration to improve efficiency and reduce manpower costs. The company is focusing on leveraging data analytics and AI to manage pan-India projects from a central location.

In the EPC segment, the Beverly Hills project, valued at approximately ₹70 crore, commenced execution this quarter. Management expects this project to contribute around 40-45% of EPC revenue over the next 15 to 16 months. The company aims to increase its pre-qualification (PQ) to bid for larger tenders independently or through joint ventures.