Omax Autos Limited reported a robust financial performance for the fiscal year ended March 31, 2026, with net profit after tax (PAT) surging 72% year-on-year to ₹37.04 crore. Revenue from operations expanded by 31% to ₹484.50 crore, reflecting strong demand in the commercial vehicle segment and improved operational leverage. The company’s earnings per share rose to ₹17.32 from ₹10.07 in the previous year, signaling enhanced value creation for shareholders amidst rising industry volumes.

The Board of Directors, in its meeting held on July 24, 2026, recommended a final dividend of ₹2.50 per equity share of ₹10 each, subject to shareholder approval at the upcoming Annual General Meeting (AGM). This recommendation complements the interim dividend of ₹2.50 per share already paid in May 2026. The AGM is scheduled for August 29, 2026, to be conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM). Shareholders will also vote on the re-appointment of directors and the ratification of cost auditor remuneration.

Financial Performance Highlights

The company’s financial results for FY26 demonstrate significant improvement across key metrics compared to FY25. Total income reached ₹519.99 crore, up from ₹393.69 crore in the prior year. While total expenses increased to ₹468.51 crore from ₹376.43 crore, the operating efficiency improved, leading to a substantial jump in profitability.

Operational Drivers and Margin Expansion

The growth was primarily fueled by better business operations and increased turnover. EBITDA without other income rose to ₹49.68 crore from ₹32.22 crore, expanding the EBITDA margin by 162 basis points to 10.25%. This margin expansion highlights the company’s ability to manage costs effectively despite elevated raw material prices. Other income contributed ₹35.50 crore, including rental income and treasury operations on liquid surplus.

Finance costs declined approximately 19% to ₹16.44 crore due to reduced debt levels, further boosting bottom-line results. Depreciation expenses moderated by 10% to ₹17.17 crore following property, plant, and equipment retirements. The return on capital employed (ROCE) improved significantly to 16% from 8% in the previous year, while the debt-to-equity ratio decreased to 0.18x from 0.27x, indicating a stronger balance sheet.

Corporate Governance and AGM Agenda

Pursuant to Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Annual Report for FY26 has been filed with stock exchanges. The forthcoming AGM will address several key governance matters:

• Director Re-appointments: Shareholders will vote on the re-appointment of Tavinder Singh as Whole-Time Director and Nipun Khurana as Independent Director. Nikhel Kochhar retires by rotation and seeks re-appointment.
• Remuneration Approval: The meeting will approve the revision of remuneration for Managing Director Devashish Mehta, increasing the ceiling to ₹2 crore per annum for three years starting April 1, 2026.
• Cost Auditor Ratification: Remuneration of ₹2.50 lakh plus taxes and out-of-pocket expenses for M/s JSN & Co., Cost Auditors, for FY27 requires ratification.

The record date for dividend entitlement is August 21, 2026. Dividend payments will be made within 30 days of declaration to members holding shares as of this date. Remote e-voting facilities are available from August 26 to August 28, 2026.

Omax Autos Limited has scheduled its 43rd Annual General Meeting (AGM) for Saturday, August 29, 2026, at 11:00 A.M. (IST) via Video Conferencing/Other Audio Visual Means. The Board seeks shareholder approval for a final dividend of ₹2.50 per equity share for the financial year ended March 31, 2026, alongside significant revisions to executive remuneration and the re-appointment of key board members. The meeting aims to ratify governance structures and financial distributions following a year where profit after tax rose to ₹37.04 crore from ₹21.55 crore in the prior year.

The ordinary business includes adopting the audited financial statements for FY26 and declaring the dividend. Shareholders will also vote on the re-appointment of Mr. Nikhel Kochhar and Mr. Tavinder Singh, who retire by rotation. Under special business, the Board proposes ratifying the remuneration of M/s. JSN & Co. as Cost Auditors for FY27 at ₹2,50,000 plus applicable taxes, pursuant to Section 148 of the Companies Act, 2013.

A key resolution involves the re-appointment of Mr. Tavinder Singh as Whole-Time Director for one year commencing October 29, 2026. His remuneration is capped at ₹85,00,000 per annum. The Board highlights his over 40 years of experience in production and material procurement, noting his role in managing plant operations across North India. The resolution ensures his designation as Key Managerial Personnel under Section 203 of the Act.

The most material remuneration change concerns Mr. Devashish Mehta, Managing Director. The Board seeks approval to raise his maximum annual remuneration ceiling from the existing limit to ₹2,00,00,000 for three years, effective April 1, 2026. This increase aligns with his expanded responsibilities in the Non-2W business segment. In FY26, Mr. Mehta drew ₹84,49,000. The revised package includes salary, allowances, perquisites, and performance-linked incentives, subject to Section 197 and Schedule V of the Companies Act, 2013.

Mr. Nipun Khurana is proposed for re-appointment as an Independent Director for five consecutive years from August 8, 2027. His expertise in finance and audit, including prior consultancy with the World Bank, supports his continued tenure. The AGM will be conducted virtually as permitted by MCA Circular No. 03/2025 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2024/133. Remote e-voting opens on August 26, 2026, and closes on August 28, 2026.

Financial Performance Context

The explanatory statement discloses standalone audited financials indicating growth in profitability despite elevated raw material costs. The table below outlines the key financial metrics for the past three fiscal years:

Figures in ₹ lakhs

What the Numbers Show

While profit after tax increased significantly in FY26, the Board notes that profits remain inadequate for managerial remuneration under Schedule V of the Companies Act, 2013. This necessitates the special resolutions for remuneration approvals. The company attributes its operational resilience to overhead reduction and strong brand value, despite the adverse impact of raw material costs on production expenses.