Automobile Corporation of Goa Limited has formally addressed a compliance delay regarding the submission of related party transactions disclosure for the half year ended September 30, 2025. The company's Board of Directors convened on January 19, 2026, to review the matter following correspondence from BSE Limited dated December 16, 2025.

Board Response to Compliance Delay

The Board of Directors acknowledged the inadvertent delay of one day in submitting the disclosure of Related Party Transactions under Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory requirement mandates timely disclosure of related party transactions to ensure transparency and compliance with listing obligations.

Financial Penalty and Remedial Actions

The company has taken immediate corrective measures to address the compliance lapse:

Strengthening Internal Controls

Recognizing the importance of regulatory compliance, the Board has advised the management to strengthen internal controls to avoid recurrence of such instances in the future. This proactive approach demonstrates the company's commitment to maintaining high standards of corporate governance and regulatory adherence.

Regulatory Context

The disclosure pertains to Regulation 23(9) of SEBI LODR Regulations, which requires listed companies to submit related party transactions disclosures within specified timelines. The company's prompt acknowledgment and corrective action reflect its dedication to transparency and compliance with regulatory frameworks.

The communication was signed by Company Secretary Mitesh Gadhiya and submitted to BSE Limited on January 21, 2026, ensuring all stakeholders are informed of the company's response to the compliance matter.

Automobile Corporation of Goa has announced significant corporate developments alongside its strong third-quarter financial performance. The Board of Directors approved audited financial results for Q3FY26, declared an interim dividend of ₹5 per equity share, and appointed two new independent directors during its meeting held on January 19, 2026.

Strong Financial Performance Continues

The company's third-quarter results demonstrate sustained growth momentum across key financial metrics:

Operational Excellence and Digital Transformation

Automobile Corporation of Goa delivered 1,660 bus bodies during the quarter compared to 1,065 units in the corresponding previous year quarter, representing significant volume growth driven by State Transport Undertaking and export bus bodies. The company advanced its digital transformation initiatives by digitizing Human Resource Management processes and implementing Product Lifecycle Management as a design tool.

Corporate Actions and Dividend Declaration

The Board declared an interim dividend of ₹5.00 per equity share for FY26, maintaining consistency with the previous year's comparable period. The dividend payment will result in a cash outflow of approximately ₹30.44 crores, with the record date set for January 29, 2026, and payment scheduled on or before February 13, 2026.

Board Strengthening with New Independent Directors

The company appointed two distinguished professionals as Additional Directors and Independent Directors for five-year terms from January 20, 2026, to January 19, 2031:

Regulatory Impact and Future Outlook

The company reported an exceptional item of ₹32.86 crores related to the implementation of new Labour Codes notified by the Government of India on November 21, 2025. This one-time impact includes incremental gratuity and long-term compensated absences provisions arising from changes in wage definitions. The company remains committed to Net Zero sustainability initiatives and continues strengthening its capabilities for emerging opportunities in institutional procurement processes.