Ucal Limited reported a significant turnaround in profitability for the quarter ended June 30, 2026, with standalone net profit rising to ₹5.87 crore from ₹32.41 lakh in the corresponding period of FY25. This marks a year-on-year increase of over 1,700%, driven by higher revenue and improved operational margins.

Consolidated revenue from operations grew 4.4% to ₹203.15 crore, up from ₹194.52 crore in Q1FY25. The group posted a consolidated net profit of ₹5.84 crore, reversing a net loss of ₹6.01 crore recorded in the same quarter last year. Standalone revenue also expanded sharply by 44.2% to ₹201.38 crore from ₹139.60 crore.

Financial Highlights

The company’s financial performance for Q1FY26 compared to Q1FY25 is detailed below:

Standalone total income reached ₹202.85 crore, while total expenses were ₹195.04 crore. Profit before tax stood at ₹7.82 crore. In the consolidated books, total income was ₹204.85 crore against total expenses of ₹196.95 crore, resulting in a profit before tax of ₹7.90 crore.

What the Numbers Show

A key divergence exists between standalone and consolidated results regarding exceptional items. While the standalone statement showed no exceptional items for the quarter, the consolidated results included a ₹15.21 crore loss due to dilution in the prior quarter (Q4FY25), which contributed to the previous quarter's consolidated loss. For Q1FY26, no such exceptional losses were recorded, aiding the return to profitability. Additionally, finance costs remained stable at ₹6.89 crore (standalone) and ₹6.99 crore (consolidated), indicating controlled borrowing costs despite revenue growth.

Corporate Developments

During its meeting on August 13, 2026, the Board of Directors approved several administrative changes:

• CEO Appointment: Adithya Srivatsa Jayakar, currently Deputy Managing Director, was appointed as Chief Executive Officer with effect from August 13, 2026. He will continue to serve as DMD while discharging CEO responsibilities. The appointment aims to provide continuity in executive leadership and management. Mr. Jayakar possesses extensive experience in the automotive industry, including general management, sales, marketing, operations, and supply chain management. He is the son of Mr. Jayakar Krishnamurthy, the Managing Director.
• Cost Auditor: Mr. L. Thriyambak was appointed as Cost Auditor for FY27, subject to member approval at the Annual General Meeting.
• AGM Date: The 40th Annual General Meeting is scheduled for September 29, 2026, to be held via Video Conferencing or Other Audio-Visual Means.

The unaudited financial results were reviewed by R. Subramanian and Company LLP, Chartered Accountants.

Ucal Limited has confirmed the dispatch of its postal ballot notice to seek shareholder approval for the re-appointment of its Managing Director and other key directors. The company has completed the dispatch of the notice by electronic means only to members whose names appeared in the Register of Members as on July 3, 2026. The voting process will be conducted exclusively through remote e-voting from July 15, 2026, to August 13, 2026.

The Board of Directors has recommended the re-appointment of Mr. Jayakar Krishnamurthy as Chairman and Managing Director for a term of five years from September 1, 2026, to August 31, 2031. His remuneration will be denominated in USD, comprising a basic salary of USD 13,750 per month, a special allowance of USD 13,750 per month, and a house rent allowance of USD 5,500 per month, among other perquisites. The Board also seeks approval for the continuance of his employment beyond the age of 70 years.

Shareholders are also requested to approve an increase in the managerial remuneration of Mr. Adithya Srivatsa Jayakar, Deputy Managing Director, effective from July 1, 2026. The revised remuneration includes a basic salary of ₹3,30,000 per month and allowances of ₹3,15,601 per month. Additionally, the re-appointment of Mr. Ram Ramamurthy as Whole-time Director for two years from September 4, 2026, to September 3, 2028, has been proposed, with a basic salary of ₹4,25,000 per month.

The notice includes resolutions for the re-appointment of Mr. Ramachandran Sundar as Non-Executive and Independent Director for a second term of five years from November 13, 2026, to November 12, 2031. Mr. Abhaya Shankar has been proposed for re-appointment as Non-Executive and Non-Independent Director for two years from November 14, 2026, to November 13, 2028, with a monthly remuneration of ₹2,00,000.

Director Profiles and Tenures

Regulatory Disclosures

The postal ballot notice is issued pursuant to Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. P. Muthukumaran of M/s P Muthukumaran & Associates has been appointed as the Scrutinizer for the e-voting process. The results of the postal ballot will be announced on or before August 17, 2026.