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.

Omax Autos reported a standalone net profit of ₹106 crore for the quarter ended June 30, 2026 (Q1FY27), marking a 48.5% increase from ₹71 crore in the corresponding period of FY26. Revenue from operations rose 22.4% year-on-year to ₹1,219.90 crore, driven by higher volumes in sheet metal components and assemblies. The Board of Directors also recommended a final dividend of ₹2.5 per equity share for FY26, subject to shareholder approval at the Annual General Meeting on August 29, 2026.

The results were approved during the Board meeting held on July 24, 2026, pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The unaudited financial statements were reviewed by statutory auditors BGJC & Associates LLP, which issued a limited review report confirming compliance with Ind AS 34 and SEBI regulations. The Board also fixed August 21, 2026, as the record date for ascertaining eligibility for the final dividend, which will be paid within 30 days of declaration.

Financial Performance

The company’s top-line growth was supported by improved operational efficiency and margin expansion. EBITDA stood at ₹135 crore in Q1FY27, compared to ₹84 crore in Q1FY26, resulting in an EBITDA margin of 11.04%, up from 8.39% in the prior year quarter. This represents a margin improvement of 265 basis points. The following table summarises the key financial metrics for the quarter:

Corporate Governance and Appointments

In addition to approving the financial results, the Board reappointed M/s. JSN & Co., Cost Accountants (Firm Registration No. 000455), as Cost Auditors for the financial year 2026-27. The appointment is subject to ratification by shareholders at the AGM.

The Board also approved the reappointment of two directors:

• Tavinder Singh as Whole Time Director for a one-year term commencing October 28, 2026.
• Nipun Khurana as Independent Director for a five-year term commencing August 8, 2027.

What the Numbers Show

The significant margin expansion indicates effective cost management amidst rising material costs. The surge in EBITDA outpacing revenue growth suggests operating leverage is improving. The dividend recommendation reflects management's confidence in cash flows and commitment to returning value to shareholders. With no associate, joint venture, or subsidiary companies as of June 30, 2026, the consolidated and standalone figures remain identical, simplifying the performance analysis.