🔍

Sal Automotive Ltd (539353)

📊 BSE: 539353 🏢 Auto Components & Equipments 📢 Latest filing: 22 Sep 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Sal Automotive's revenue was ₹116 Cr (+15.8% year on year, +30.5% on the previous quarter), and net profit ₹2.0 Cr (+138.4% year on year); the operating margin was 3.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹116	+15.8%	+30.5%
Operating profit	₹4.5	+81.5%	+132.0%
Net profit	₹2.0	+138.4%	+120.4%
EPS (₹)	4.28	+139.1%	+120.6%
Operating margin	3.9%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Sal Automotive Approves ₹2.00 Dividend and Re-Appoints MD at 51st AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 22 Sep 2026, 04:46 PM

Sal Automotive Limited has declared the voting results and Scrutinizer's Report for its 51st Annual General Meeting held on September 21, 2026. All seven resolutions were approved with over 99.99% majority, including the adoption of FY26 financial statements and the declaration of a final dividend of ₹2.00 per share (20%). Shareholders also approved the re-appointment of Managing Director Rama Kant Sharma and Independent Director Uttam Sahay, alongside adopting a new Memorandum of Association. Total valid votes cast stood at 3,597,771, representing 75.03% of total outstanding shares, largely driven by 100% promoter participation.

Final dividend of ₹2.00 per equity share (20% on face value of ₹10) approved with 99.9996% votes in favour
Re-appointment of Mr. Rama Kant Sharma as Managing Director approved via special resolution with 99.999% support
Adoption of updated Memorandum of Association passed with 3,597,758 votes in favour vs 13 against
Total voting participation stood at 75.03% (3,597,771 total votes cast out of 4,795,426 shares)
Promoter group cast 3,596,570 votes, accounting for 99.97% of all votes polled

💡 Track the corporate dividend dispatch/payout timeline and monitor Q2 FY27 earnings for operational execution in railway and EV seat expansions.

Sal Automotive Adopts New Memorandum of Association at 51st AGM

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 22 Sep 2026, 04:39 PM

Sal Automotive Limited announced that shareholders approved the adoption of a new set of Memorandum of Association (MOA) during its 51st Annual General Meeting held on September 21, 2026. The change is aimed at aligning the company's charter documents with the provisions of the Companies Act, 2013 (Table A, Schedule I). This is a purely regulatory and administrative update with no direct impact on financial performance or operations. The company reported TTM revenue of Rs 400 Cr and net profit of Rs 5 Cr.

Shareholders approved the new Memorandum of Association at the 51st AGM held on September 21, 2026
AGM commenced at 3:00 P.M. (IST) and concluded at 04:00 P.M. (IST)
MOA updated to align with the Companies Act, 2013, primarily based on Table A under Schedule I
Filing follows prior corporate intimation dated August 13, 2026

💡 Track upcoming Q2 FY27 earnings to monitor operational margins and demand trends in the agricultural implements and automotive component segments.

Sal Automotive Re-Appoints Rama Kant Sharma as MD for 5-Year Term Starting Feb 2027

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 22 Sep 2026, 04:34 PM

Shareholders of Sal Automotive Limited approved the re-appointment of Mr. Rama Kant Sharma as Managing Director for a 5-year tenure effective February 4, 2027. Additionally, Mr. Uttam Sahay was re-appointed as an Independent Director for a second 3-year term effective January 31, 2027. Both approvals were finalized at the company's 51st Annual General Meeting held on September 21, 2026. The re-appointments provide leadership continuity for the micro-cap auto components maker (Rs 97 Cr market cap, Rs 400 Cr TTM revenue).

Re-appointment of Mr. Rama Kant Sharma as Managing Director for 5 consecutive years commencing February 4, 2027
Re-appointment of Mr. Uttam Sahay as Independent Director for a 3-year term from January 31, 2027 to January 30, 2030
Shareholder approval secured at the 51st Annual General Meeting concluded on September 21, 2026
Neither appointee is debarred from holding directorial office under any SEBI or statutory order

💡 Track operational execution under existing management, particularly margins in the tractor/agri implement segment (60% of revenue) and upcoming quarterly performance.

SAL Automotive Schedules 51st AGM for September 21, 2026; Issues Weblink Notice to Shareholders

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Aug 2026, 02:31 PM

SAL Automotive Limited has dispatched a formal communication to shareholders whose email addresses are not registered, providing weblinks to access the Annual Report and Notice for the 51st Annual General Meeting (AGM) for FY 2025-26. The 51st AGM is scheduled to take place on Monday, September 21, 2026, at 03:00 PM IST through Video Conferencing/Other Audio Visual Means. This filing is a standard compliance requirement under Regulation 36(1)(b) of SEBI LODR Regulations.

51st Annual General Meeting scheduled for Monday, September 21, 2026, at 03:00 p.m. IST via VC/OAVM
Issued under Regulation 36(1)(b) of SEBI LODR Regulations for shareholders without registered email addresses
Annual Report for FY 2025-26 and AGM Notice made available on company website links

💡 Shareholders without registered emails should update their contact details with their DP/RTA and review the AGM Notice and FY26 Annual Report ahead of the September 21, 2026 meeting.

Sal Automotive submits FY26 Annual Report; recommends Rs 2/share dividend, AGM on Sept 21, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Aug 2026, 10:39 AM

Sal Automotive Limited has released its Annual Report for FY 2025-26 and scheduled its 51st Annual General Meeting (AGM) for September 21, 2026. The Board has proposed a final dividend of Rs 2 per share (20% on face value of Rs 10). Key AGM resolutions include the re-appointment of Managing Director Rama Kant Sharma for a 5-year term starting February 4, 2027, at a monthly pay of Rs 9 lakh (Rs 3 lakh basic plus Rs 6 lakh allowances), and the re-appointment of Independent Director Uttam Sahay for 3 years.

51st Annual General Meeting scheduled for Monday, September 21, 2026, via Video Conferencing.
Recommended a final dividend of Rs 2 per equity share (20% on face value of Rs 10) for FY26.
Proposed re-appointment of MD Rama Kant Sharma for 5 years from Feb 4, 2027, with monthly salary and allowances of Rs 9,00,000.
Proposed re-appointment of Independent Director Uttam Sahay for a second term of 3 years from Jan 31, 2027.

💡 Track the AGM voting outcomes on September 21, 2026, and monitor record date announcements for the Rs 2 dividend payout.

Sal Automotive 51st AGM on Sept 21, 2026; Recommends ₹2/Share Final Dividend

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Aug 2026, 10:32 AM

Sal Automotive Limited has issued the notice for its 51st Annual General Meeting (AGM) to be held on September 21, 2026, via video conferencing. The agenda includes shareholder approval for a final dividend of ₹2 per share (20% on face value of ₹10) for FY26. Key special resolutions include the re-appointment of Managing Director Mr. Rama Kant Sharma for a 5-year term from February 4, 2027, with a monthly pay of ₹9 lakh (₹1.08 Cr annually), and the re-appointment of Independent Director Mr. Uttam Sahay for 3 years. The voting cut-off date is set for September 14, 2026.

51st AGM scheduled on September 21, 2026, with cut-off date for voting fixed at September 14, 2026
Final dividend proposed at ₹2 per equity share of face value ₹10 (20%) for FY26
Re-appointment of Mr. Rama Kant Sharma as Managing Director for 5 years from February 4, 2027, with monthly remuneration of ₹9,00,000 (Basic ₹3 lakh + Allowances ₹6 lakh)
Re-appointment of Independent Director Mr. Uttam Sahay for a second term of 3 years from January 31, 2027 to January 30, 2030
Adoption of a updated Memorandum of Association (MoA) aligned with the Companies Act, 2013

💡 Investors should track the outcome of the AGM voting on September 21, 2026, and note the dividend entitlement as per the record date.

138% YoY Profit Growth in Q1 FY27; MD Re-appointed for 5-Year Term

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 06:58 PM

Sal Automotive reported a strong start to FY27, with Q1 net profit jumping 138% YoY to ₹2.05 Cr compared to ₹0.86 Cr in the same quarter last year. Revenue from operations grew 15.8% YoY to ₹115.86 Cr, driven primarily by a 34% surge in the Automobile Components segment. The board has also secured leadership continuity by re-appointing Mr. Rama Kant Sharma as Managing Director for a five-year term starting February 2027, subject to shareholder approval.

Net Profit increased by 138% YoY to ₹2.05 Cr in Q1 FY27 from ₹0.86 Cr in Q1 FY26.
Total Revenue from operations rose 15.8% YoY to ₹115.86 Cr from ₹100.03 Cr.
Automobile Components segment revenue grew significantly to ₹58.83 Cr from ₹43.77 Cr YoY.
Managing Director Rama Kant Sharma re-appointed for a 5-year term effective February 4, 2027.
Inventory management efficiency reflected in a 29% improvement in turnover ratio to 13.46 times as per annual context.

💡 Investors should monitor the sustainability of the improved net profit margins (1.77% this quarter vs 0.86% YoY) and track the progress of the company's stated expansion into Indian Railways and EV seat components.

Sal Automotive to Align Memorandum of Association with Companies Act 2013

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 13 Aug 2026, 06:43 PM

Sal Automotive's Board has approved the adoption of a new Memorandum of Association (MOA) to align with the Companies Act, 2013, replacing the outdated 1956 Act framework. The changes involve updating legal references, restructuring object clauses, and merging 'Other Objects' into the main object categories as per Table A of Schedule I. This is a procedural regulatory update and does not impact the company's business operations or financial standing. The proposal is subject to shareholder approval at the upcoming 51st Annual General Meeting.

Board approved the alteration of the Memorandum of Association (MOA) on August 13, 2026
The new MOA will be based on Table A as set out under Schedule I to the Companies Act, 2013
Existing Clause III (C) regarding 'Other Objects' will be merged into Clause III (B)
The changes are subject to approval by members at the ensuing 51st Annual General Meeting

💡 Investors should note this as a routine administrative update; no action is required other than monitoring the voting results of the 51st AGM.

Sal Automotive Q1 Net Profit Rises 138% to ₹2.05 Cr; MD Re-appointed for 5 Years

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 06:36 PM

Sal Automotive reported a strong start to FY27 with Q1 revenue growing 15.8% YoY to ₹115.86 Cr. Net profit surged 138% to ₹2.05 Cr from ₹0.86 Cr in the year-ago period, driven by a 34% revenue jump in the Automobile Components segment. The Board has also approved the re-appointment of Mr. Rama Kant Sharma as Managing Director for a 5-year term starting February 2027, ensuring leadership continuity. Despite the profit jump, the company remains a micro-cap with thin operating margins (TTM OPM at 2.8%).

Q1 FY27 Revenue increased 15.8% YoY to ₹115.86 Cr compared to ₹100.03 Cr in Q1 FY26
Net Profit for the quarter grew 138% YoY to ₹2.05 Cr from ₹0.86 Cr
Automobile Components segment revenue rose 34.4% to ₹58.83 Cr from ₹43.77 Cr YoY
Managing Director Rama Kant Sharma re-appointed for a 5-year term effective February 4, 2027
Quarterly EPS improved significantly to ₹4.28 from ₹1.79 in the previous year's corresponding quarter

💡 Investors should monitor the sustainability of the margin improvement in the Automobile segment, which saw segment results jump to ₹4.28 Cr from ₹1.69 Cr YoY. The upcoming AGM will be the next key event for shareholder approval of management terms.

138% YoY Profit Growth in Q1 FY27; Revenue up 16% to ₹116.1 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 06:28 PM

Sal Automotive reported a strong start to FY27 with net profit jumping 138% YoY to ₹2.05 Cr, compared to ₹0.86 Cr in Q1 FY26. Total income grew 16% YoY to ₹116.10 Cr, driven by a robust 34.4% growth in the Automobile Components segment. The Agriculture Implements segment remained stagnant at ₹57.03 Cr. Notably, the company delivered over 50% of its previous TTM profit in this single quarter, though operating margins remain thin at approximately 2.4% at the PBT level.

Net profit surged 138% YoY to ₹2.05 Cr from ₹0.86 Cr in the year-ago period
Total income increased 16% YoY to ₹116.10 Cr, accounting for ~30% of TTM revenue
Automobile Components segment revenue grew 34.4% YoY to ₹58.83 Cr
Quarterly EPS rose to ₹4.28 from ₹1.79 in Q1 FY26
Managing Director Rama Kant Sharma re-appointed for a 5-year term effective February 2027

💡 Monitor if the Automobile Components segment can maintain its 30%+ growth rate to offset the stagnation in the Agriculture segment. Watch for margin improvements as the company scales its higher-value EV and Railway component businesses.

Sal Automotive Q1 FY27 Net Profit Jumps 138% YoY to ₹2.05 Cr; Revenue Up 16%

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 06:19 PM

Sal Automotive reported a strong start to FY27 with Q1 revenue growing 15.8% YoY to ₹115.86 Cr. Net profit surged 138% YoY to ₹2.05 Cr, a significant figure considering the total TTM PAT was ₹4 Cr. Growth was primarily driven by the Automobile Components segment, which saw a 34.4% YoY revenue increase. The board also secured leadership stability by re-appointing the Managing Director for a five-year term starting February 2027.

Revenue from operations increased 15.8% YoY to ₹115.86 Cr from ₹100.03 Cr.
Net profit after tax rose 138.4% YoY to ₹2.05 Cr compared to ₹0.86 Cr in Jun 2025.
Automobile Components segment revenue grew to ₹58.83 Cr from ₹43.77 Cr YoY.
Managing Director Rama Kant Sharma re-appointed for a 5-year term starting Feb 4, 2027.
Finance costs decreased to ₹0.70 Cr from ₹1.14 Cr in the preceding quarter (Mar 2026).

💡 Investors should monitor the sustainability of the margin improvement and the growth trajectory of the Automobile Components segment, which outperformed the Agriculture segment this quarter.

Sal Automotive Board Meeting Scheduled for August 13, 2026, to Approve Q1 Results

🟡 NEUTRAL ⭐ 2/10

BOARD_MEETING 📅 03 Aug 2026, 04:20 PM

Sal Automotive Ltd has announced its board meeting on August 13, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The company currently operates with a thin TTM net profit of Rs 4 Cr on a revenue base of Rs 384 Cr. Investors will be monitoring for margin improvements, as the operating profit margin stood at a low 2.8% in FY26. The stock has seen a significant 29.1% decline over the past 12 months, making the upcoming results critical for sentiment.

Board meeting scheduled for August 13, 2026, to approve Q1 FY27 results.
Trading window has been closed since July 1, 2026, as per insider trading regulations.
Company reported TTM revenue of Rs 384 Cr against a small market capitalization of Rs 88 Cr.
Previous quarter (Mar 2026) net profit was Rs 0.93 Cr on revenue of Rs 88.79 Cr.
Agricultural implements segment continues to be a major revenue driver, contributing approximately 60% of total turnover.

💡 Watch for the financial results on August 13, specifically focusing on whether the company can improve its 2.8% operating margin and if there is any update on the expansion into Indian Railways components.

Resignation of Finance Controller and KMP Kulvinder Singh, Effective September 30, 2026

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 28 Jul 2026, 01:07 PM

Sal Automotive Ltd has announced the resignation of Mr. Kulvinder Singh from his position as Finance Controller and Key Managerial Personnel (KMP). The resignation was tendered on July 27, 2026, with his last working day scheduled for September 30, 2026. The departure is attributed to external career opportunities and professional growth. Given the company's small-cap size (Rs 85 Cr market cap) and thin operating margins of 2.8%, the transition to a new financial head will be important for maintaining fiscal discipline.

Mr. Kulvinder Singh resigned as Finance Controller and KMP on July 27, 2026.
The effective date of cessation is the close of business hours on September 30, 2026.
The company reported a TTM revenue of Rs 384 Cr against a market capitalization of Rs 85 Cr.
Operating profit margins remain tight at 2.8% as of the latest trailing twelve months.
The outgoing KMP has committed to a notice period to ensure a smooth handover of responsibilities.

💡 Investors should watch for the announcement of a successor and ensure there are no delays in the company's quarterly financial reporting during this leadership transition.

View All 539353 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew 23% YoY to INR 379.49 Cr. Agriculture Implements revenue grew 38.2% to INR 222.47 Cr (driven by a 36.2% increase in Rotavators to INR 219.28 Cr). Automotive Components revenue grew 0.8% to INR 147.86 Cr, with Seats for Tractors & CVs growing 12.5% to INR 90.89 Cr, while Seat Mechanisms declined 28.1% to INR 16.30 Cr.

Geographic Revenue Split

Not explicitly disclosed by percentage, but the company identifies Western and Southern India as key manufacturing hubs where it is exploring new facilities.

Profitability Margins

Operating Profit Margin declined from 4.4% to 3.8% (an 18% decrease) due to higher revenue contribution from lower-margin segments and increased overheads. Net Profit Margin also declined 18% from 1.6% to 1.4%.

EBITDA Margin

Not explicitly disclosed as EBITDA, but Operating Profit Margin stood at 3.8% in FY25, down from 4.4% in FY24.

Capital Expenditure

Depreciation increased to INR 4.28 Cr from INR 4.11 Cr, primarily due to additional capital expenditure made during the year to support manufacturing hubs and agriculture implement capacity.

Credit Rating & Borrowing

Not disclosed in available documents; however, the Debt Equity Ratio improved by 19% to 0.51 primarily due to debt repayments.

⚙️ Operational Drivers

Raw Materials

Not explicitly named, but raw material costs represent 79.7% of net revenue from operations, up from 78.1% in the previous year.

Capacity Expansion

The company has enhanced capacity for manufacturing Agriculture implements (Rotavators) and is exploring new facilities near automotive hubs in Western and Southern India to strengthen its auto ancillary business.

Raw Material Costs

Raw material costs as a percentage of net revenue stood at 79.7% in FY25 compared to 78.1% in FY24. The increase was attributed to a surge in global demand and growth in sales volume of products with higher material costs.

Manufacturing Efficiency

Inventory Turnover Ratio improved by 29% to 13.46 times, indicating better control and efficiency in inventory management during the year.

Logistics & Distribution

Sales and distribution expenses are part of 'Other Overheads' totaling INR 63.80 Cr (up from INR 54.49 Cr).

📈 Strategic Growth

Growth Strategy

Growth will be achieved through expansion into Indian Railways coach components (seats and berths), development of seats for EV Commercial Vehicles, and setting up new facilities near automotive hubs in Southern and Western India. The company also leverages the 'Make in India' initiative and contract manufacturing for Rotavators, which now contributes 60% of revenue.

Products & Services

Seats, seat mechanisms, seat frames, Rotavators, planters, Rotary Tillers, Box Scrappers, EV Commercial Vehicle seats, and Railway coach berths.

Brand Portfolio

SAL Automotive Limited.

New Products/Services

New products include Veg Planters (contributing INR 6.77 Cr in FY25), EV Commercial Vehicle seats, and Indian Railways coach components.

Market Expansion

Targeting expansion in Western and Southern India near automotive manufacturing hubs and increasing presence in the Indian Railways sector.

Strategic Alliances

The company performs contract manufacturing for Rotavators, which accounts for 60% of its total revenue.

🌍 External Factors

Industry Trends

The Indian auto industry grew 9.1% in production (3.10 crore vehicles). The tractor industry grew 6.4% in production (10.08 lakh units), while the commercial vehicle segment saw a de-growth of 3.3%.

Competitive Landscape

Faces increasing competition in both automotive components and agricultural implements sectors.

Competitive Moat

Moat is based on being a preferred OEM supplier and a dominant player in the agricultural implement contract manufacturing space (60% revenue share). Sustainability is driven by diversifying into EV and Railway segments.

Macro Economic Sensitivity

Highly sensitive to rural demand and rainfall distribution, which directly affects the tractor and agricultural implement sectors.

Consumer Behavior

Shifts in buying patterns and replacement demand in the rural sector are key drivers for agricultural implements.

Geopolitical Risks

Influenced by global demand surges and commodity price fluctuations resulting from post-pandemic economic scenarios.

⚖️ Regulatory & Governance

Industry Regulations

Operations are influenced by government policies on procurement, safety regulations, and emission standards for the automotive and tractor industries.