Precision Camshafts Limited has scheduled its 34th Annual General Meeting (AGM) for Thursday, July 30, 2026, at 3:00 PM IST, to be conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). The meeting will consider adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026, declaration of a final dividend, and several special business items including ratification of cost auditor remuneration and approval of executive director remuneration for FY27.

Dividend and Share Capital

The Board of Directors has recommended a final dividend of ₹1 per equity share of ₹10 each for FY26. The record date for determining shareholder eligibility is Thursday, July 23, 2026, and the Register of Members and Share Transfer Books will remain closed from Friday, July 24, 2026, to Thursday, July 30, 2026 (both days inclusive). If approved at the AGM, the total cash outflow towards dividend would be ₹949.86 Lakhs. The dividend will be paid on or before August 28, 2026, subject to deduction of Tax Deducted at Source (TDS). The Company's issued, subscribed, and paid-up equity share capital stands at ₹9,498.58 Lakhs, divided into 9,49,85,835 equity shares of ₹10 each.

FY26 Financial Performance

The Company's financial performance for FY26 reflected challenging business conditions, including a decline in export sales, volatility in raw material prices, and the impact of exceptional items related to the impairment of its investment in MFT Motoren und Fahrzeugtechnik GmbH, Germany, a step-down subsidiary that initiated insolvency proceedings. The following table summarises the key financial results:

On a standalone basis, total revenue for FY26 stood at ₹57,754.77 Lakhs, a decline of 5.63% over the previous year's ₹61,200.09 Lakhs. Profit after tax (PAT) attributable to shareholders was ₹578.39 Lakhs, registering a decline of 21.38% over the previous year's ₹735.75 Lakhs. The decline in profitability was primarily attributable to lower revenue and the impact of exceptional items, including an impairment provision of ₹3,000 Lakhs on the Company's investment in PCL International Holdings B.V. and an impairment provision of ₹2,745 Lakhs on loans given to the subsidiary.

Business Operations and Strategic Developments

Precision Camshafts maintained healthy volumes in its core camshaft business, supported by strong domestic OEM demand. The Company significantly expanded its long-term order book with new programs from Maruti Suzuki, Hyundai India (through a Tier 1 supplier), Mahindra, and UzAuto, providing business visibility through 2032. To support these programs, the Company initiated capacity expansion at its Solapur facility with a planned investment of approximately ₹120 Crores. The Company also entered the assembled camshaft technology segment, securing a landmark order from Mahindra for its flagship engine platform. In the electric vehicle (EV) segment, the Company secured domestic orders to convert diesel vehicles into fully electric platforms across Mumbai, Pune, and Nagpur.

On the subsidiary front, MFT Motoren und Fahrzeugtechnik GmbH, Germany — a material step-down subsidiary — filed for insolvency proceedings before the Dresden District Court, with a provisional liquidator appointed on September 08, 2025. This resulted in the deconsolidation of MFT from the Group's consolidated financial statements, generating a gain of ₹935.04 Lakhs on deconsolidation. PCL (International) Holding B.V. (consolidated basis) reported total revenue of ₹14,222.52 Lakhs against ₹20,629.73 Lakhs in the previous year, with a net loss of ₹1,148.91 Lakhs. Memco Engineering Private Limited reported total revenue of ₹5,310.28 Lakhs against ₹4,711.07 Lakhs in the previous year, with a net loss of ₹68.01 Lakhs.

Key Financial Ratios (Standalone Basis)

The following table presents key standalone financial ratios for FY26 and FY25:

The decline in the Debt-Equity Ratio was primarily due to lower utilization of packing credit facilities attributable to a decrease in export sales during the year. The decline in Return on Investment was driven by decreased Net Asset Value (NAV) of mutual fund units, primarily due to market fluctuations and ongoing global geopolitical conflicts.

Special Business and Executive Remuneration

The AGM notice includes several special resolutions. The Company seeks ratification for the remuneration of M/s. S. V. Vhatte & Associates, Cost Accountants, appointed for the financial year ending March 31, 2027, at a proposed remuneration of ₹1,50,000 plus taxes and out-of-pocket expenses. The Company also seeks approval for remuneration paid to executive directors in excess of limits under Section 197 and Schedule V of the Companies Act, 2013 for FY26, as profits were inadequate. The Board further seeks approval for remuneration limits for FY27 in the event of inadequacy or absence of profits, as detailed below:

The aggregate remuneration paid to the Managing Director and Whole-time Directors for FY26 was ₹661.88 Lakhs, against an aggregate permissible limit under Schedule V of ₹530.00 Lakhs, resulting in excess remuneration of ₹131.88 Lakhs. The Company is in the process of seeking shareholder approval by way of special resolution for waiver of the excess remuneration.

E-Voting and Meeting Details

Remote e-voting will commence on Sunday, July 27, 2026, at 9:00 AM and conclude on Wednesday, July 29, 2026, at 5:00 PM. Shareholders whose names appear in the register of members as on the record date of July 23, 2026, are eligible to vote. Physical attendance is dispensed with, and no proxy appointments are permitted. The scrutinizer for the e-voting process is Mr. Jayavant B. Bhave, Proprietor of M/s J. B. Bhave and Co., Company Secretaries.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE484I01029/b6f7d19a-849d-4b35-a554-2082bf55ccd7.pdf

Precision Camshafts Limited reported a net profit of ₹13.2 crore for the quarter ended March 31, 2026 (Q4 FY26), a growth of approximately 38% compared to ₹9.5 crore in the previous quarter. The company attributed this improvement to higher revenues and better operating performance, despite an increase in raw material costs. For the full year FY26, the company reported a profit of ₹5.78 crore, which included an exceptional charge of ₹48.8 crore related to the impairment of investment in its step-down subsidiary, MFT, currently undergoing insolvency proceedings in Germany.

The standalone business grew by 6.5% quarter-on-quarter to ₹162 crore, with EBITDA margins at 15% and PAT margins at 8%. Consolidated revenue increased by 9% quarter-on-quarter to ₹205 crore, with EBITDA at ₹30 crore (15% margin) and a PAT margin of 4.9%. The company secured new business awards from leading OEMs, including Maruti Suzuki, Hyundai, and Mahindra & Mahindra, representing a cumulative lifetime revenue of approximately ₹1,500 crore.

Financial Performance – Standalone Q4 FY26

Financial Performance – Consolidated Q4 FY26

Operational Metrics and Expansion

The company reported a total camshaft volume of 2.21 million units in Q4 FY26. Machine camshafts volume increased to 0.66 million units, while camshaft casting volumes decreased to 1.55 million units. The contribution of machine camshafts to total volume rose to 30% from 26% in the previous quarter. To support growth, Precision Camshafts plans to invest over ₹100 crore in foundry and machine shop capacity expansion over the next three years, expecting incremental revenues of more than 2x the capex incurred.

The new Solapur manufacturing facility is expected to commence production in Q1 FY27, with a total capacity of 10 lines or approximately 200,000 machined camshafts per month. Current capacity utilization stands at over 80% in the foundry and 90% in the machine shop. The company also commissioned the second phase of its solar power project, taking total capacity to 29 megawatts, expected to generate annual savings of approximately ₹24 crore.

E-Mobility and Subsidiary Updates

Subsidiary MEMCO reported a revenue of ₹14 crore during Q4 FY26. The e-mobility subsidiary, EMOSS in the Netherlands, reported revenue of ₹29.47 crore compared to ₹23.9 crore in the previous quarter. In India, the company successfully developed an electric Heavy Commercial Vehicle (e-HCV) platform and delivered the first vehicle to a customer. Certification and homologation are expected to be completed during the current financial year, with commercial deployment planned from April next year. The company has an MOU for an annualized revenue of ₹60 crore to ₹70 crore from one customer for this product.