ATV Projects India Ltd (500028)
📢 Recent Corporate Announcements
ATV Projects India reported a 35.1% YoY increase in revenue from operations to ₹20.62 crore for Q1 FY27. Despite the strong top-line growth, net profit remained nearly flat at ₹2.03 crore (vs ₹2.01 crore YoY) as material costs rose to ₹12.53 crore. A major positive development is the resolution of a ₹21.59 crore GST demand dispute regarding leasehold premises, which was ruled in the company's favor on July 17, 2026. The company continues to avoid income tax provisions due to significant carried-forward losses and unabsorbed depreciation.
- Revenue from operations increased 35.1% YoY to ₹20.62 crore from ₹15.26 crore.
- Favorable order received for a ₹21.59 crore GST demand dispute, including a refund of ₹72.43 lakhs pre-deposit.
- Net profit for the quarter stood at ₹2.03 crore, a marginal 1% increase over the previous year's ₹2.01 crore.
- Cost of materials consumed rose to ₹12.53 crore, representing 60.7% of revenue.
- Earnings Per Share (EPS) remained stable at ₹0.38 for the quarter.
ATV Projects India reported a 35.1% YoY increase in revenue from operations to ₹20.62 Cr for Q1 FY27. Net profit remained largely flat at ₹2.03 Cr compared to ₹2.01 Cr in the year-ago period, as higher material costs offset revenue gains. A major highlight is the favorable appellate order regarding a ₹21.59 Cr GST demand related to its MIDC office, which has been allowed in the company's favor. The company continues to provision zero income tax due to carried forward losses and unabsorbed depreciation.
- Revenue from operations increased 35.1% YoY to ₹20.62 Cr from ₹15.26 Cr.
- Net profit for the quarter stood at ₹2.03 Cr, maintaining a net margin of approximately 9.8%.
- Favorable GST appeal order dated 17.07.2026 set aside a ₹21.59 Cr demand.
- Refund of ₹72.43 lakhs pre-deposit allowed following the successful GST appeal.
- Cost of materials consumed rose significantly to ₹12.53 Cr from ₹8.10 Cr in the previous quarter.
ATV Projects India Ltd conducted its 39th Annual General Meeting (AGM) on August 12, 2026, via video conferencing. The meeting focused on two primary resolutions: the adoption of audited financial statements for FY26 and the re-appointment of Director Mr. H.C. Gupta. For FY26, the company reported a revenue of ‑67.65 Cr and a PAT of ‑7.16 Cr. Management addressed shareholder queries during the 80-minute session, though specific operational updates on the non-functional TPE plant were not detailed in the summary.
- 39th Annual General Meeting held on August 12, 2026, concluding at 1:20 P.M.
- Adoption of FY26 Audited Financial Statements with revenue of ‑67.65 Cr and PAT of ‑7.16 Cr.
- Proposed re-appointment of Mr. H. C. Gupta (DIN-02237957) as a director retiring by rotation.
- Inventory levels reduced by 37.73% YoY to ‑2,096.45 Lacs as per financial context.
- Debt stands at ‑36 Cr against a net worth of ‑213 Cr.
ATV Projects India Ltd has scheduled a board meeting on August 12, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The company enters this quarter following a FY26 performance that saw revenue of ₹67.65 Cr and a net profit of ₹7.16 Cr. Investors will be monitoring if the company can maintain its operating profit margins, which stood at 12.1% TTM, amidst a challenging year where the stock price has declined by over 41%. The meeting will be held via audio-visual means.
- Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results
- Company reported a net profit of ₹2.01 Cr in the corresponding quarter of the previous year (June 2025)
- TTM revenue stands at ₹68 Cr against a market capitalization of ₹117 Cr
- Promoter holding has seen a marginal decline from 26.95% in Sep 2025 to 26.83% in Jun 2026
ATV Projects India Ltd is convening its 39th Annual General Meeting (AGM) on August 12, 2026, at 12:00 PM via video conferencing. The company has dispatched physical letters to shareholders whose email IDs are not registered, providing a QR code and web link to the FY 2025-26 Annual Report. The filing also highlights a SEBI-mandated window from February 5, 2026, to February 4, 2027, for re-lodging previously rejected physical share transfer requests. This is a standard regulatory procedure for annual shareholder engagement and compliance.
- 39th Annual General Meeting scheduled for August 12, 2026, at 12:00 Noon.
- Annual Report for the Financial Year 2025-2026 made available via digital links and QR codes.
- Special 12-month window for re-lodgement of physical share transfers from February 5, 2026, to February 4, 2027.
- Compliance with SEBI Master Circular dated May 07, 2024, regarding mandatory KYC updates for physical holders.
ATV Projects India Ltd has announced the closure of its Register of Members and Share Transfer books from August 6, 2026, to August 12, 2026. This procedural action is taken to facilitate the company's 39th Annual General Meeting (AGM). The filing is a standard regulatory requirement under Section 91 of the Companies Act, 2013, and SEBI (LODR) Regulations. No dividend or other financial payouts were mentioned in this specific announcement.
- Book closure period scheduled from August 6, 2026, to August 12, 2026 (both days inclusive)
- The closure is specifically for the purpose of holding the 39th Annual General Meeting
- Compliance filing pursuant to Section 91 of the Companies Act, 2013, and SEBI (LODR) Regulations
- Announcement dated July 14, 2026, providing advance notice to the exchange
ATV Projects India Ltd has announced its 39th Annual General Meeting (AGM) to be held on August 12, 2026, via video conferencing. The primary agenda includes the adoption of audited financial statements for the fiscal year ended March 31, 2026, and the re-appointment of Director Mr. H. C. Gupta, who is retiring by rotation. Shareholders holding shares as of the cut-off date of August 5, 2026, will be eligible to participate in remote e-voting.
- 39th Annual General Meeting scheduled for August 12, 2026, at 12:00 Noon
- Cut-off date for determining e-voting eligibility is August 5, 2026
- Register of Members and Share Transfer Books will be closed from August 6 to August 12, 2026
- Special window for processing pre-April 2019 share transfer requests remains open until February 4, 2027
- Participation facility at the AGM is limited to 1,000 members on a first-come, first-served basis
ATV Projects India Ltd has dispatched its Annual Report for FY 2025-26 and the notice for its 39th Annual General Meeting (AGM). The meeting is scheduled for August 12, 2026, at 12:00 Noon via video conferencing. The agenda includes the adoption of audited financial statements for the year ended March 31, 2026, and the reappointment of Director Mr. H. C. Gupta. Shareholders as of the cut-off date of August 5, 2026, are eligible for e-voting.
- 39th Annual General Meeting scheduled for August 12, 2026, via video conferencing
- Cut-off date for determining e-voting eligibility is August 5, 2026
- Register of Members and Share Transfer Books will be closed from August 6 to August 12, 2026
- Participation facility at the AGM is limited to 1,000 members on a first-come, first-served basis
- Reappointment of Mr. H. C. Gupta as Director is proposed as an ordinary resolution
Financial Performance
Revenue Growth by Segment
Total revenue from operations grew by 14.69% YoY, reaching INR 7,056.86 Lacs in FY25 compared to INR 6,153.15 Lacs in FY24. The revenue is derived from Project Management and Engineering Services, Project supplies, and industrial job execution, though specific percentage splits per segment were not disclosed.
Geographic Revenue Split
The company operates from its registered office in Mumbai, Maharashtra, and maintains a significant manufacturing and works facility in Mathura, Uttar Pradesh (Delhi-Agra Bypass). Regional revenue contribution percentages are not explicitly detailed.
Profitability Margins
Net Profit Margin stood at 10.49% for FY25 (INR 740.12 Lacs profit on INR 7,056.86 Lacs revenue). Profit before tax increased by 14.92% YoY from INR 640.41 Lacs to INR 735.97 Lacs.
EBITDA Margin
Estimated EBITDA margin for FY25 is approximately 11.95% (calculated as Profit Before Tax of INR 735.97 Lacs + Depreciation of INR 106.90 Lacs + Finance Costs of INR 0.65 Lacs over Revenue). This represents a slight improvement from the previous year's core profitability levels.
Capital Expenditure
Property, Plant and Equipment (PPE) stood at INR 21,346.21 Lacs as of March 31, 2025, a slight decrease from INR 21,405.06 Lacs in FY24, indicating minimal new capital expenditure and a focus on maintaining existing assets.
Credit Rating & Borrowing
Non-current borrowings decreased by 15.66% to INR 4,267.42 Lacs from INR 5,059.69 Lacs. Finance costs dropped sharply by 99.4% to INR 0.65 Lacs because the company has stopped providing for interest on certain unsecured loans and Sales Tax deferments currently under litigation.
Operational Drivers
Raw Materials
Cost of materials consumed represents the primary operational cost at INR 3,751.78 Lacs, accounting for 53.16% of total revenue from operations.
Capacity Expansion
The TPE (Thermoplastic Elastomer) Plant is currently not operational, and no depreciation is being charged on its building. No specific expansion plans were detailed in the provided documents.
Raw Material Costs
Raw material costs increased marginally by 1.25% YoY to INR 3,751.78 Lacs. As a percentage of revenue, material costs improved from 60.22% in FY24 to 53.16% in FY25, suggesting better procurement efficiency or higher value-added services.
Manufacturing Efficiency
Inventory levels were reduced by 37.73% from INR 3,366.76 Lacs to INR 2,096.45 Lacs, indicating a significant push toward leaner operations and faster project execution cycles.
Strategic Growth
Expected Growth Rate
14.7%
Growth Strategy
Growth is being driven by the execution of engineering and project management contracts for various industries. The company is also focusing on financial restructuring, evidenced by the repayment of INR 759.48 Lacs to strategic investor Seftech Phosphate Private Limited against unsecured loans taken for One Time Settlement (OTS) purposes.
Products & Services
Project Management Services, Engineering Services, Project Supplies, and industrial job execution services.
Brand Portfolio
ATV Projects India Limited.
Strategic Alliances
The company has a strategic relationship with Seftech Phosphate Private Limited, which provided unsecured loans of INR 3,988.04 Lacs (as of FY25) to facilitate debt settlements.
External Factors
Industry Trends
The engineering and project management industry is evolving toward integrated service delivery. ATV's positioning is currently focused on debt resolution and stabilizing core engineering operations to return to a growth trajectory.
Competitive Landscape
The company competes with other mid-sized Indian engineering and project supply firms.
Competitive Moat
The company's moat is based on its long-standing presence in the engineering services sector and its ISO 9001:2015 certified manufacturing capabilities in Mathura. However, sustainability is currently challenged by high debt levels and non-operational assets.
Macro Economic Sensitivity
The business is sensitive to industrial CAPEX cycles in India, as it provides engineering and project supplies to various industries.
Regulatory & Governance
Industry Regulations
Operations are subject to the Companies Act 2013 and SEBI (LODR) Regulations. The Mathura works must comply with industrial safety and environmental norms.
Environmental Compliance
The company spent INR 9.12 Lacs on Corporate Social Responsibility (CSR) in FY25, exceeding the statutory requirement of INR 8.51 Lacs by INR 0.61 Lacs.
Taxation Policy Impact
The company recognized a deferred tax credit of INR 4.15 Lacs in FY25. It maintains a net deferred tax liability of INR 5.20 Lacs.
Legal Contingencies
The company faces a pending litigation regarding a Sales Tax Deferment of INR 182.10 Lacs for the Mathura Workshop, currently subject to assessment by the Trade Tax Tribunal, Allahabad, and the Allahabad High Court. No interest provision has been made for this or for certain unsecured loans due to ongoing litigation.
Risk Analysis
Key Uncertainties
The primary uncertainty is the outcome of litigations regarding debt and tax deferments, which could result in significant interest liabilities if decided against the company. The non-operational TPE plant also represents a risk of asset impairment.
Geographic Concentration Risk
Operations are concentrated in Mumbai (Corporate) and Mathura (Works), making it susceptible to regional regulatory or economic shifts in Maharashtra and Uttar Pradesh.
Third Party Dependencies
High dependency on strategic investors (Seftech Phosphate Private Limited) for debt restructuring and OTS payments.
Technology Obsolescence Risk
The non-operational TPE plant suggests a risk of technological obsolescence or market misalignment for that specific product line.
Credit & Counterparty Risk
Trade receivables stood at INR 96.33 Lacs in FY25, up from INR 84.55 Lacs in FY24, representing a relatively low 1.36% of revenue, suggesting tight credit control.
