India Motor Parts & Accessories Limited held its 72nd Annual General Meeting on July 21, 2026, through video conferencing, where shareholders approved the audited financial statements for the year ended March 31, 2026. The company reported a revenue growth of 6.12% for the financial year 2025-2026, despite competitive pressures and the West Asia crisis. To maintain market share, the firm expanded its distribution network by opening ten additional branches, bringing the total count to 80 branches across the country.

The Board recommended a final dividend of ₹23 per share, subject to shareholder approval. This follows an interim dividend of ₹10 per share paid in February 2026, aggregating the total dividend for FY26 to ₹33 per share. The company also approved a material related party transaction with Brakes India Private Limited valued at ₹500 crores.

Business Transacted

The meeting transacted four key resolutions, including the adoption of financial statements and the re-appointment of Srivats Ram as Director, who retires by rotation. The statutory auditors, Brahmayya & Co., presented an unmodified report on the financial statements. The scrutinizer for the e-voting process was M Damodaran of M Damodaran & Associates LLP.

Outlook

Looking ahead to 2026-27, the company expects sustained growth in the automotive aftermarket driven by expanding service networks and the increasing vehicle parc in both passenger and commercial vehicle segments. Management noted that liquidity remains tight but is expected to improve in the second half of the financial year. However, the El Nino phenomenon poses a potential risk to consumption in rural and farm sectors due to a delayed monsoon.

India Motor Parts & Accessories Limited reported a net profit of ₹96.55 crore for the financial year ended March 31, 2026, reflecting a 15.39% increase compared to the previous year. The company’s revenue from operations rose by 6.12% to ₹837.11 crore, driven by sustained operational excellence and an expanded branch network. Earnings per share (EPS) for the year stood at ₹77.36.

The Board of Directors has recommended a final dividend of ₹23 per equity share (230% on the face value of ₹10 each). This, combined with the interim dividend of ₹10 per share paid in February 2026, aggregates to a total dividend of ₹33 per share (330%) for FY26. The total dividend payout amounts to ₹41.18 crore, in accordance with the company’s Dividend Distribution Policy.

Financial Performance

The company’s total income for the year increased to ₹889.54 crore from ₹835.98 crore in the previous year. Profit before tax stood at ₹114.45 crore, while other income increased to ₹52.43 crore. The company maintained a strong financial position with a net worth of ₹2308.17 crore as of March 31, 2026.

Operational Highlights

India Motor Parts & Accessories operates through a network of 99 branches across 23 states, having added 10 new branches during the year under review. The company represents 28 leading manufacturers of the Indian Automobile Industry. It successfully implemented a new ERP system during the financial year to enhance operational efficiency.

Corporate Governance and Compliance

The Statutory Auditors, Brahmayya & Co, expressed an unmodified opinion on the financial statements. The company’s Secretarial Audit Report for FY26 contains no adverse qualifications. The Board has appointed M. Damodaran & Associates LLP as the Secretarial Auditors for a term of five years. The company has complied with all applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.