Maximus International Ltd (540401)

Maximus International announced the reappointment of Mr. Dipak Raval as Managing Director for a 5-year term from October 7, 2026, to October 6, 2031, without remuneration. The Board also approved the reappointment of Ms. Divya Zalani as Independent Director for a second 5-year term and appointed Mr. Ramesh Kheradia as an Additional Independent Director. Additionally, M/s Ambalal M. Shah & Co. was appointed as Statutory Auditor to fill the casual vacancy arising from the resignation of M/s Shah Mehta and Bakshi. Both Audit and Nomination & Remuneration Committees have been reconstituted accordingly, pending shareholder approval at the upcoming AGM.

• Re-appointment of MD Dipak Raval for a 5-year term (October 7, 2026 to October 6, 2031) without remuneration
• Re-appointment of Ms. Divya Zalani as Independent Director for a second 5-year term (December 31, 2026 to December 30, 2031)
• Appointment of Mr. Ramesh Kheradia as Additional Independent Director effective August 26, 2026
• Appointment of M/s Ambalal M. Shah & Co. as Statutory Auditor to fill casual vacancy and for a subsequent 5-year term (FY 2026-27 to FY 2030-31)

Maximus International announced the appointment of M/s. Ambalal M. Shah & Co., Chartered Accountants, as Statutory Auditors to fill a casual vacancy following the resignation of M/s. Shah Mehta and Bakshi, effective August 26, 2026, subject to shareholder approval. The Board also approved the re-appointment of Mr. Dipak Raval as Managing Director for a 5-year term from October 7, 2026, to October 6, 2031, without remuneration. Additionally, Mr. Ramesh Kheradia was appointed as an Additional Independent Director and Ms. Divya Zalani was re-appointed as an Independent Director for a 5-year second term. Key Board committees (Audit Committee and Nomination & Remuneration Committee) were reconstituted accordingly.

• Appointment of M/s. Ambalal M. Shah & Co. as Statutory Auditor to fill casual vacancy and proposed for 5 consecutive years from 11th to 16th AGM
• Re-appointment of Managing Director Mr. Dipak Raval for a 5-year term from October 7, 2026, to October 6, 2031, without remuneration
• Appointment of Mr. Ramesh Kheradia as Additional Independent Director with effect from August 26, 2026
• Re-appointment of Ms. Divya Zalani as Non-Executive Independent Director for a second 5-year term from December 31, 2026, to December 30, 2031

Maximus International announced the re-appointment of Mr. Dipak Raval as Managing Director for a five-year term from October 7, 2026 to October 6, 2031, without remuneration. The board also approved the re-appointment of Independent Director Ms. Divya Zalani for a second five-year term and appointed Mr. Ramesh Kheradia as an Additional Independent Director for five years. Furthermore, M/s Ambalal M. Shah & Co. has been appointed as Statutory Auditor to fill a casual vacancy and proposed for a five-year tenure (FY27 to FY31), subject to shareholder approval.

• Re-appointment of Managing Director Dipak Raval for a 5-year term from October 7, 2026 to October 6, 2031 without remuneration
• Appointment of Ramesh Kheradia as Additional Non-Executive Independent Director for a 5-year term effective August 26, 2026
• Re-appointment of Divya Zalani as Independent Director for a second 5-year term from December 31, 2026 to December 30, 2031
• Appointment of M/s Ambalal M. Shah & Co. as Statutory Auditor following the resignation of M/s Shah Mehta and Bakshi

Maximus International has approved the re-appointment of Mr. Dipak Raval as Managing Director for a 5-year term from October 7, 2026 to October 6, 2031, serving without remuneration. The board also appointed Mr. Ramesh Kheradia as an Additional Independent Director and re-appointed Ms. Divya Zalani as Independent Director for a second 5-year term. In addition, M/s Ambalal M. Shah & Co. was appointed as Statutory Auditor to fill a casual vacancy following the resignation of M/s Shah Mehta and Bakshi.

• Dipak Raval re-appointed as Managing Director for a 5-year tenure (October 7, 2026 to October 6, 2031) without remuneration
• Ramesh Kheradia appointed as Additional Non-Executive Independent Director for a 5-year term effective August 26, 2026
• Divya Zalani re-appointed as Independent Director for a second 5-year term (December 31, 2026 to December 30, 2031)
• Ambalal M. Shah & Co. appointed as Statutory Auditor to fill casual vacancy and proposed for 5 consecutive years from 11th AGM to 16th AGM

Maximus International has approved the appointment of Mr. Ramesh Kheradia as an Additional Non-Executive Independent Director for a 5-year term effective August 26, 2026. The board approved the re-appointment of Managing Director Mr. Dipak Raval for a 5-year term (October 7, 2026 to October 6, 2031) without remuneration, and re-appointed Independent Director Ms. Divya Zalani for a second 5-year term. In addition, M/s Ambalal M. Shah & Co. was appointed as Statutory Auditor to fill the casual vacancy caused by the resignation of M/s Shah Mehta and Bakshi, subject to shareholder approval at the upcoming 11th AGM.

• Mr. Ramesh Kheradia appointed as Additional Non-Executive Independent Director for a 5-year term w.e.f. August 26, 2026
• Mr. Dipak Raval re-appointed as Managing Director for 5 years (October 7, 2026 to October 6, 2031) without remuneration
• Ms. Divya Zalani re-appointed as Independent Director for a second 5-year term (December 31, 2026 to December 30, 2031)
• M/s Ambalal M. Shah & Co. appointed Statutory Auditor to fill casual vacancy from resignation of M/s Shah Mehta and Bakshi

Maximus International Limited's Board has approved the re-appointment of Mr. Dipak Raval as Managing Director for a 5-year term starting October 7, 2026, without remuneration. The Board also appointed Mr. Ramesh Kheradia as Additional Independent Director and re-appointed Ms. Divya Zalani as Independent Director for another 5-year term. Additionally, M/s Ambalal M. Shah & Co. was appointed as Statutory Auditor to fill a casual vacancy following the resignation of M/s Shah Mehta and Bakshi, subject to shareholder approval at the upcoming 11th AGM.

• Re-appointed MD Dipak Raval for a 5-year term from October 7, 2026, to October 6, 2031, without remuneration
• Appointed Ramesh Kheradia as Additional Independent Director for 5 years effective August 26, 2026
• Re-appointed Divya Zalani as Independent Director for a second 5-year term from December 31, 2026, to December 30, 2031
• Appointed M/s Ambalal M. Shah & Co. as Statutory Auditors to fill casual vacancy and proposed 5-year term (FY27-FY31)

Maximus International hosted its Q1 FY27 earnings call, highlighting a 51.6% YoY revenue growth to ₹59.91 Cr supported by volume scale-up in UAE and East African markets. Despite strong topline traction, EBITDA margins shrank from 9.81% to 7.64% due to higher input costs linked to Middle East geopolitical tensions, while net profit dipped slightly to ₹2.05 Cr (vs ₹2.33 Cr in Q1 FY26) on increased finance costs of ₹1.53 Cr. On expansion, the company plans to commission a new grease manufacturing facility at its Kenya plant in Q3 FY27 and is pursuing an inorganic acquisition as an associate. Management noted that top 10 customers/distributors contribute 70-75% of total sales, with a 3-year vision to achieve 75-80% revenue from manufacturing and toll blending.

• Consolidated revenue from operations rose 51.6% YoY to ₹59.91 Cr in Q1 FY27 from ₹39.52 Cr in Q1 FY26
• EBITDA increased 18% YoY to ₹4.58 Cr, but EBITDA margin contracted to 7.64% vs 9.81% in Q1 FY26
• Grease manufacturing facility at the Kenya plant scheduled for commissioning in Q3 FY27
• Finance costs increased to ₹1.53 Cr (up ₹0.61 Cr YoY) to fund scaling working capital requirements
• Top 10 customers/distributor channels account for roughly 70% to 75% of total company revenue

Maximus International Limited has made available the audio recording of its Q1 FY2026-27 earnings conference call on its website. The call was conducted on Wednesday, 19th August 2026 at 04:00 PM IST following the release of quarterly financial results. This filing fulfills standard compliance obligations under Regulation 30 and Regulation 46 of SEBI LODR Regulations.

• Weblink to audio recording of Q1 FY2026-27 earnings call uploaded on company website
• Earnings call held on 19th August, 2026 at 04:00 P.M. (IST)
• Filing submitted in compliance with SEBI LODR Regulation 30 and Regulation 46

Maximus International has re-issued its invitation for the Q1 FY27 earnings conference call scheduled for Wednesday, August 19, 2026, at 04:00 PM IST. The re-submission corrects a technical glitch in the investor registration link provided in its earlier intimation dated August 14, 2026. The call will be attended by senior management including Chairman & Managing Director Dipak Raval and CFO Milind Joshi to discuss recent quarterly performance (Jun 2026 revenue of Rs 59.91 Cr and net profit of Rs 2.05 Cr).

• Q1 FY27 earnings conference call scheduled for August 19, 2026, at 04:00 PM IST
• Updated registration link provided following a technical glitch in the August 14, 2026 invite
• Management representation includes CMD Dipak Raval, CFO Milind Joshi, and Director Aniruddh Gandhi
• Universal dial-in access numbers provided: +91 22 6280 1296 and +91 22 7115 8207

Maximus International has shared its Q1 FY27 investor presentation detailing operations across its 50,000 KL lubricant manufacturing capacity in the UAE and Kenya. The company highlighted FY26 consolidated revenue of ₹184.81 crore, supported by revenue concentration in the Middle East (58%) and East Africa (34%). Forward pipeline initiatives include commissioning a grease manufacturing facility at the Kenya unit in Q3 FY27 and setting up a warehousing/distribution base in Tanzania ahead of a planned blending plant. The company currently caters to 400+ customers across 25+ countries and 50+ end-use industries.

• Operates an aggregate 50,000 KL manufacturing capacity across plants in the UAE and Kenya
• Middle East represents 58% of geographical revenue, followed by East Africa at 34%
• Reported FY26 consolidated revenue of ₹18,481 lakh, reflecting a ~30% CAGR over FY24
• Targeting commissioning of a grease manufacturing facility at the Kenya plant in Q3 FY27
• Portfolio spans 200+ products catering to 400+ customers across 25+ countries

Maximus International Limited has scheduled its Q1 FY27 earnings conference call for Wednesday, August 19, 2026, at 4:00 PM IST. The call will feature Chairman & Managing Director Dipak Raval, CFO Milind Joshi, and Director Aniruddh Gandhi to discuss quarterly performance. In the recent June 2026 quarter, the company reported revenue of Rs 59.91 crore and net profit of Rs 2.05 crore, with TTM revenue standing at Rs 205 crore.

• Conference call scheduled for Wednesday, August 19, 2026, at 04:00 PM IST
• Meeting agenda focuses on the discussion of Q1 FY27 financial results
• Key management participants include CMD Dipak Raval, CFO Milind Joshi, and Director Aniruddh Gandhi

Maximus International reported a robust 51.59% YoY increase in revenue from operations to ₹59.91 Cr for Q1 FY27. Despite the top-line surge, EBITDA margins contracted to 7.64% (from ~9.8% YoY) due to geopolitical tensions in the Middle East impacting raw material and logistics costs. Consequently, Net Profit declined by approximately 12% YoY to ₹2.05 Cr compared to ₹2.33 Cr in the same quarter last year. The company is actively expanding its African footprint with new facilities in Tanzania and Kenya expected to be operational by Q3 FY27.

• Revenue from operations grew 51.59% YoY to ₹59.91 Crore in Q1 FY27.
• EBITDA increased by 18.15% YoY to ₹4.58 Crore, though margins were pressured by UAE logistics costs.
• Net Profit for the quarter stood at ₹2.05 Crore, down from ₹2.33 Crore in Q1 FY26.
• New grease manufacturing facility at the Kenya plant to be commissioned by Q3 FY27.
• Warehouse and distribution facility in Tanzania targeted to be operational by Q3 FY27.

Maximus International reported a strong 51.6% YoY increase in consolidated revenue to Rs 59.91 Cr for Q1 FY27. However, consolidated Net Profit declined by 12% YoY to Rs 2.05 Cr, down from Rs 2.33 Cr in the same quarter last year. This divergence was driven by a sharp rise in raw material costs, which more than doubled to Rs 49.69 Cr, and a 66% increase in finance costs to Rs 1.53 Cr. Standalone operations remain minimal, confirming that the bulk of the business is driven by its UAE and African subsidiaries.

• Consolidated Revenue from Operations rose 51.6% YoY to Rs 59.91 Cr from Rs 39.52 Cr.
• Consolidated Net Profit fell 12% YoY to Rs 2.05 Cr compared to Rs 2.33 Cr in Q1 FY26.
• Finance costs surged 65.8% YoY to Rs 1.53 Cr, impacting the bottom line.
• Cost of materials consumed increased significantly to Rs 49.69 Cr from Rs 22.10 Cr YoY.
• Consolidated EPS for the quarter stood at Rs 0.15 versus Rs 0.17 in the year-ago period.