Frontier Springs Limited has announced a board meeting scheduled for January 22, 2026, to consider several significant corporate actions. The company informed BSE Limited on January 14, 2026, about the upcoming meeting under Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Agenda Items

The board meeting will address four major proposals that could reshape the company's capital structure:

Share Capital Restructuring

The company plans to cancel 49,400 forfeited equity shares that remain unissued and form part of the issued and subscribed share capital. This action will require consequent alteration in the Articles of Association by inserting a new clause, subject to shareholder approval.

Additionally, the board will consider increasing the authorized share capital, which will necessitate alterations to Clause V of the Memorandum of Association relating to share capital.

Bonus Share Proposal

One of the most significant items on the agenda is the consideration and recommendation for issuing bonus shares to the company's shareholders. This proposal will also require approval from shareholders through the appropriate corporate governance processes.

Shareholder Approval Process

The board will consider and approve the notice of an Extraordinary General Meeting or Postal Ballot to seek shareholder approval for all the aforementioned proposals. This step ensures compliance with regulatory requirements and provides shareholders with the opportunity to vote on these important corporate decisions.

Regulatory Compliance

The announcement was made in accordance with Regulation 29 of the SEBI LODR Regulations, demonstrating the company's commitment to maintaining transparency and regulatory compliance. Company Secretary and Compliance Officer Dhruv Bhasin signed the official communication to BSE Limited on January 14, 2026.

All proposed changes are subject to shareholder approval, ensuring that stakeholders have a voice in these significant corporate restructuring decisions.

Frontier Springs Limited , a key supplier to the Indian Railways, has reported a robust financial performance for Q2 FY26, with significant growth across all key metrics. The company's strategic focus on railway sector modernization and its diversified product portfolio have contributed to its strong results.

Financial Highlights

Frontier Springs achieved a revenue of INR 82.74 crores in Q2 FY26, marking a substantial year-on-year growth of 58.39%. The company's EBITDA surged by 106.53% to INR 22.07 crores, while profit after tax more than doubled to INR 15.71 crores, representing a remarkable 115.5% increase compared to the same period last year.

For the first half of FY26, the company's performance was equally impressive:

Strong Order Book and Future Outlook

Frontier Springs maintains a healthy order book, providing substantial visibility for the remainder of the fiscal year. The company has set a target of INR 375 crores in gross revenue for FY26, driven by demand across its air springs, coil springs, and forging divisions.

Mr. Kapil Bhatia, Managing Director of Frontier Springs Limited, stated, "We focus on achieving a gross revenue amounting to INR 375 crores for the full Fiscal Year '25-'26 and further progressing to INR 500 crores gross revenue in the following year."

Product Portfolio and Market Position

Frontier Springs has a strong market presence in the railway sector:

• Coil Springs: Approximately 40% market share of Indian Railway demand
• Air Springs: Similar market share to coil springs
• Forgings: 20-25% of Indian Railway demand

The company is positioned to capitalize on the Government of India's railway modernization program, with its extended product range allowing it to capture new opportunities.

Innovative Product Development

Frontier Springs is advancing its air spring portfolio with the development of a Failure Indication and Brake Application (FIBA) system. This product aims to enhance operational safety by automatically applying service brakes in the event of air spring failure and providing real-time alerts to operators. The company anticipates securing RDSO approval shortly, with commercialization planned for the next financial year.

Expansion and Future Growth

The company is investing in capacity expansion to meet the increasing demand across its target sectors. A 6-tonne hammer project is progressing, with expectations for improved capacity utilization in the forthcoming quarter, which may strengthen operational efficiency.

Looking ahead, Frontier Springs is exploring new product lines and opportunities within the railway sector to drive future growth. The management expressed confidence in maintaining growth and potentially reaching INR 1,000 crores in revenue within the next five years, primarily driven by its core railway business.

As Frontier Springs continues to leverage its expertise and relationship with Indian Railways, the company appears positioned for growth and value creation for its shareholders.