Yash Highvoltage Limited has fixed Thursday, 27th August, 2026, as the record date for determining shareholder eligibility for the proposed final dividend of ₹1.40 per equity share for the financial year ended March 31, 2026 (FY26). This confirmation follows the company’s earlier dispatch of the notice for its 24th Annual General Meeting (AGM), scheduled for September 3, 2026, where shareholders will vote to approve the dividend distribution.

The dividend declaration is subject to member approval at the upcoming AGM, which will be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM). If approved, the dividend will be paid within 30 days of the declaration date to members whose names appear in the Register of Members or in the statement of beneficial ownership furnished by NSDL and CDSL as on the record date. The move reinforces the company’s commitment to returning value to shareholders while maintaining operational liquidity.

AGM Agenda and Key Resolutions

In addition to the dividend approval, the AGM will address several critical governance and compensation matters. Shareholders will consider ordinary and special business items, including the adoption of audited standalone and consolidated financial statements for FY26. A key special resolution involves the re-appointment of Mrs. Twinkle Keyur Shah (DIN: 03575362), a Non-Executive Director, who retires by rotation. Mrs. Shah has been associated with the company since September 11, 2017, and holds a shareholding of 5,48,000 shares (1.92%).

Executive Compensation and ESOP Modifications

The meeting will also seek approval for the remuneration of Mr. Keyur G. Shah, Managing Director, for the period from March 8, 2026, to March 7, 2028. The Board proposes a monthly remuneration of up to ₹25,00,000, along with permissible perquisites such as provident fund contributions, gratuity, and leave encashment. This structure was recommended by the Nomination and Remuneration Committee in December 2025 and approved by the Board in February 2026.

Furthermore, shareholders will vote on a modification to the 'Yash Highvoltage Employee Stock Option Scheme 2025'. The proposal extends the exercise period for vested options from two years to four years, aiming to enhance long-term employee retention and align wealth creation with the company’s sustained growth trajectory. All other terms of the ESOP scheme remain unchanged.

Voting Mechanism

Remote e-voting will be facilitated through Bigshare Services Pvt. Ltd. The e-voting window opens on Monday, 31st August, 2026, at 09:00 AM (IST) and closes on Wednesday, 2nd September, 2026, at 05:00 PM (IST). Only shareholders holding shares as of the cut-off date of August 27, 2026, are eligible to vote. The AGM notice and Annual Report for FY26 are available on the company’s website and the BSE platform.

What the Numbers Show

The fixation of the record date provides clarity on the timeline for dividend disbursement, allowing investors to plan their portfolios accordingly. With the dividend amount set at ₹1.40 per share against a face value of ₹5, the payout represents a significant return for long-term holders. The simultaneous focus on executive compensation stability and employee retention through ESOP modifications suggests management’s intent to secure leadership continuity and talent depth during a period of sustained operational growth.

Yash Highvoltage Limited delivered its strongest financial performance in two decades for FY26, reporting a 74% year-on-year jump in profit after tax (PAT) to ₹37.3 crore. Revenue from operations surged 57% to ₹235.2 crore, supported by robust demand across domestic and international markets. The company’s order book reached an all-time high of over ₹400 crore as of March 31, 2026, up 166% from ₹150 crore in the previous year, signaling sustained growth momentum.

The Board of Directors proposed a final dividend of ₹1.40 per equity share, subject to shareholder approval at the 24th Annual General Meeting (AGM) scheduled for September 3, 2026. The AGM will also address the ratification of cost auditor remuneration, approval of managing director remuneration, and modifications to the Employee Stock Option Scheme (ESOP) 2025. Remote e-voting commenced on August 31, 2026, and concludes on September 2, 2026.

Financial Performance

Yash Highvoltage’s financial results for FY26 reflect significant top-line and bottom-line expansion. EBITDA grew by 74.9% to ₹60.4 crore, with margins improving to 25.7% from 23.1% in FY25. The PAT margin expanded to 15.9% from 14.3%, demonstrating effective cost management and operational leverage. Basic earnings per share (EPS) rose 46.3% to ₹13.08 from ₹8.94 in the prior year.

Export revenue recorded a robust 123.38% growth, reaching ₹17.2 crore compared to ₹7.7 crore in FY25. Exports accounted for 43% of total sales for Oil Impregnated Paper (OIP) and High Current Bushings, underscoring the company’s deepening integration into global supply chains. The company entered 13 new geographies during the year, including the United States, Canada, and Spain.

Strategic Initiatives and Expansion

The company advanced its greenfield manufacturing facility in Vadodara, Gujarat, with an estimated investment of ₹153 crore. This facility aims to localize the production of resin-impregnated paper (RIP) cores, reducing dependency on imports which currently stand at 95% for these components. The new plant will add 6,000 RIP and RIS units per year, lifting total capacity to 15,000 units.

Yash Highvoltage also acquired a 50% stake in Sukrut Electric, Pune, alongside Quality Power, to broaden its presence in the transformer component ecosystem. Internationally, the company established Yash HV USA Inc., creating a direct sales presence in the United States. Strategic distribution partnerships were formed in Europe, North Africa, the United Kingdom, and Ireland to enhance global reach.

What the Numbers Show

The divergence between revenue growth (57%) and order book expansion (166%) indicates that Yash Highvoltage is capturing market share faster than it is currently converting orders into revenue. This backlog provides multi-year revenue visibility, insulating the company from short-term demand fluctuations. Furthermore, the significant rise in export contribution highlights a successful shift from a domestic specialist to a global player, reducing geographic concentration risk. The improvement in EBITDA margin despite higher raw material costs suggests effective pricing power and operational efficiencies gained from scale.

Operational Updates

Production efficiency improved by 35% from H1 to H2 FY26, measured in units produced, while labor productivity increased by 28%. On-time delivery performance rose from approximately 62% to 80%. The company executed over 200 High Current Bushings, generating ₹10 crore in revenue, compared to 80 units and ₹6 crore in the previous year. The retrofit division saw sales grow 60% to ₹16.0 crore.

A cyber fraud incident involving a supplier resulted in an exceptional loss of ₹2.10 crore, comprising ₹1.36 crore for materials received and ₹0.74 crore for materials not received. The company has lodged complaints with cyber crime authorities and is pursuing recovery through banking channels. Statutory auditors M/s. Shah Mehta & Bakshi confirmed that internal financial controls were operating effectively as of March 31, 2026.