Auro Impex & Chemicals Limited (AUROIMPEX)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Auro Impex's revenue was ₹115 Cr (-17.3% year on year, -14.8% on the previous half-year), and net profit ₹3.0 Cr (+50.0% year on year); the operating margin was 4.3%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹115 | -17.3% | -14.8% |
| Operating profit | ₹5.0 | +25.0% | +25.0% |
| Net profit | ₹3.0 | +50.0% | +50.0% |
| EPS (₹) | 2.08 | +16.2% | +56.4% |
| Operating margin | 4.3% | — | — |
📢 Recent Corporate Announcements
Auro Impex & Chemicals Limited announced the results and Scrutinizer's report for its Extraordinary General Meeting (EGM) held on October 15, 2026. Shareholders approved all three special resolutions, including changing the company name to 'Auro Impex & Power Limited' with 100% votes in favor (88,07,200 votes). Additionally, members approved the alteration of the Main Object Clause of the Memorandum of Association and a revision in remuneration for Managing Director Mr. Madhusudan Goenka (passed with 99.69% votes in favor).
- Special resolution to rename the company to 'Auro Impex & Power Limited' passed with 100% approval (88,07,200 votes in favor)
- Alteration of the Main Object Clause of the Memorandum of Association passed with 100% approval
- Revision of MD Madhusudan Goenka's remuneration approved with 99.69% majority (5,28,400 votes in favor vs 1,600 against)
- A total of 88,07,200 votes were polled across 25 members out of 1,116 shareholders on the cut-off date of October 08, 2026
Auro Impex & Chemicals Limited has issued an Extraordinary General Meeting (EGM) notice scheduled for October 15, 2026, to seek shareholder approval for corporate alterations. The key proposals include renaming the company to 'Auro Impex & Power Limited' and significantly altering its Main Objects clause to include power equipment, transformers, pipes, batteries, and related products. Additionally, the EGM will address the remuneration and terms for Promoter Director Madhusudan Goenka, who holds a 62.94% equity stake (76,79,600 shares). Financial disclosures in the notice show FY26 revenue from operations at Rs 145.90 Cr and net profit at Rs 4.00 Cr, compared to Rs 163.72 Cr and Rs 4.28 Cr in FY25.
- EGM scheduled for October 15, 2026, with cut-off date for e-voting set to October 8, 2026
- Special resolution proposed to change name to 'Auro Impex & Power Limited'
- Main Objects clause being expanded to include electrical transformers, ferro-alloys, pipes, and energy equipment
- Promoter Madhusudan Goenka holds 76,79,600 shares (62.94%), with past remuneration noted at Rs 23,14,308 per annum
- FY26 standalone revenue from operations reported at Rs 14,589.77 Lacs with profit after tax of Rs 400.16 Lacs
Auro Impex & Chemicals Limited responded to an NSE surveillance inquiry dated September 18, 2026, regarding recent equity share price movement. The company confirmed that it has made all necessary disclosures under Regulation 30 of SEBI LODR and that there is no pending undisclosed price-sensitive information. It noted that the stock's price fluctuation is driven by market dynamics beyond management control. Auro Impex currently trades around ₹30.6 with a market capitalization of ₹38 crore.
- Clarification submitted in response to NSE letter Ref. No. NSE/CM/Surveillance/17567 dated 18th September, 2026
- Company confirmed no pending material or price-sensitive developments under Regulation 30
- Share price movement attributed purely to market dynamics and external factors
- Company market capitalization stands at ₹38 Cr with TTM revenue of ₹513 Cr
Auro Impex & Chemicals Limited reported the scrutinizer's report and voting results for its 33rd Annual General Meeting held on September 12, 2026. All 12 resolutions were approved with overwhelming majorities (>99% of votes cast), supported by promoter voting power (promoter holding stands at ~71.6%). Approved items include the adoption of financial statements, re-appointment of Managing Director Madhusudan Goenka, continuation of Executive Director Praveen Kumar Goenka, appointment of Whole-Time Director Vanshika Jain, higher loan/investment limits under Sections 185 and 186, and an increase in authorized share capital.
- All 12 resolutions passed at the 33rd AGM held on September 12, 2026
- Total of 1,094 shareholders recorded as of the September 5, 2026 cut-off date
- Special resolutions including alteration of AoA/MoA and increasing authorized share capital passed with 99.98% votes in favour
- Managing Director Madhusudan Goenka re-appointment passed with 99.70% votes in favour
Auro Impex & Chemicals concluded its 33rd Annual General Meeting on September 12, 2026, conducting 12 agenda items via e-voting. Key special resolutions presented include increasing the company's borrowing limits under Section 180(1)(c) and hiking authorized share capital. In addition, shareholders voted on the re-appointment of Managing Director Madhusudhan Goenka for a 5-year term. Final e-voting results and scrutinizer reports will be submitted separately.
- 33rd AGM held on September 12, 2026, concluding at 01:35 PM IST
- Total of 20 shareholders attended the meeting via video conferencing
- 12 agenda items transacted, including higher borrowing limits under Section 180(1)(c)
- Proposed re-appointment of Managing Director Madhusudhan Goenka for a 5-year term
Auro Impex & Chemicals Limited announced that its Board has approved a revision in the terms of remuneration for Managing Director Mr. Madhusudan Goenka, subject to shareholder approval. The company will convene an Extra-Ordinary General Meeting (EGM) on 15 October 2026 via audio-visual means to seek approval. The cut-off date for remote e-voting and voting at the EGM has been set as 08 October 2026. The specific quantum or financial details of the remuneration revision were not disclosed in the filing.
- Board approved revision in terms of remuneration for MD Mr. Madhusudan Goenka on 11 September 2026
- Extra-Ordinary General Meeting scheduled for 15 October 2026 at 12:00 Noon via OAVM
- Cut-off date for e-voting eligibility set for 08 October 2026
- Board meeting commenced at 11:00 A.M. and concluded at 12:40 P.M.
Auro Impex & Chemicals Limited announced that its Board has decided to withdraw and cancel the addendum to the 33rd Annual General Meeting (AGM) notice approved on September 2, 2026. The original AGM notice dated August 11, 2026, circulated on August 20, 2026, remains effective without any changes. The proposals to change the company name to 'Auro Impex & Power Limited' and alter the Main Object clause of the Memorandum of Association will now be presented at an upcoming Extra-Ordinary General Meeting (EGM).
- Cancelled the addendum to the 33rd AGM notice approved on 02-09-2026
- Original 33rd AGM notice dated 11-08-2026 remains fully in force
- Proposed name change to 'Auro Impex & Power Limited' deferred to an upcoming EGM
- Alteration of Main Object clause of MOA also moved to the upcoming EGM
Auro Impex & Chemicals Limited announced that its Board of Directors has approved a proposal to change the company's name to 'Auro Impex & Power Limited', subject to regulatory and shareholder approval at the upcoming AGM on September 12, 2026. The Board also approved significant additions to the Memorandum of Association (MOA) Main Object clauses to include transformers, railway spares, ferro-alloys, auto components, and transport logistics. Additionally, the terms of appointment of Managing Director Mr. Madhusudan Goenka were amended. These resolutions are enabling corporate actions and do not involve immediate capital expenditure or firm business contracts.
- Board approved changing name from 'Auro Impex & Chemicals Limited' to 'Auro Impex & Power Limited'
- Main Object Clause III(A) of the MOA altered to add six wide-ranging business verticals, including power equipment, ferro-alloys, and logistics
- Shareholder approval scheduled to be sought at the 33rd Annual General Meeting on September 12, 2026
- Amended the terms and conditions of appointment for Managing Director Mr. Madhusudan Goenka (DIN: 00146365)
Auro Impex & Chemicals Limited held a board meeting on September 02, 2026, approving a proposal to change the company name to 'Auro Impex & Power Limited'. The board also approved broadening the Memorandum of Association (MOA) Main Objects clause to encompass electrical equipment, ferro alloys, automotive parts, and transportation. Furthermore, amendments to the terms of appointment of Managing Director Mr. Madhusudan Goenka were approved, with all proposals subject to shareholder approval at the AGM scheduled for September 12, 2026.
- Proposed company name change to 'Auro Impex & Power Limited' subject to ROC and shareholder approvals.
- Expanded Main Objects Clause III(A) of MOA across six extensive categories including transformers, ferro alloys, and logistics.
- Approved amendment of terms and conditions for Managing Director Mr. Madhusudan Goenka.
- Shareholder voting scheduled at the 33rd Annual General Meeting on September 12, 2026.
Auro Impex & Chemicals Limited has informed the exchange regarding the dispatch of letters on August 21, 2026, to shareholders whose email addresses are not registered. The communication provides the web link and path to access the Annual Report for FY 2025-26. The company's 33rd Annual General Meeting (AGM) is scheduled to be held via Video Conferencing on Saturday, September 12, 2026, at 01:00 PM IST.
- 33rd Annual General Meeting scheduled for September 12, 2026, at 01:00 PM IST via Video Conferencing
- Notice and Annual Report dispatched electronically to shareholders registered as of August 14, 2026
- Physical intimation letter dispatched on August 21, 2026, providing web link access to unregistered email holders
Auro Impex & Chemicals Limited has dispatched the Notice of its 33rd Annual General Meeting (AGM) along with the Annual Report for FY26 to shareholders. The AGM is scheduled to be held virtually via Video Conferencing on Saturday, September 12, 2026, at 1:00 PM IST. The cut-off date for voting eligibility is September 5, 2026, and the remote e-voting window runs from September 9 to September 11, 2026.
- 33rd AGM scheduled for September 12, 2026, at 1:00 PM IST via VC/OAVM
- Cut-off date to determine voting entitlement is September 5, 2026
- Remote e-voting window opens September 9, 2026 (9:00 AM IST) and closes September 11, 2026 (5:00 PM IST)
- Shareholder speaker registration deadline is September 7, 2026 (5:00 PM IST)
Auro Impex & Chemicals Limited has issued the notice for its 33rd Annual General Meeting (AGM), scheduled for September 12, 2026, at 1:00 PM IST via video conferencing. The company has also released its Annual Report for FY 2025-26. Key agenda items include the adoption of FY26 standalone and consolidated financial statements, ratification of the cost auditor's remuneration of Rs 50,000 per annum, and regularization of a non-executive non-independent director. This is a routine annual compliance filing.
- 33rd Annual General Meeting scheduled for Saturday, September 12, 2026, at 1:00 PM IST via VC/OAVM
- Annual Report for the financial year 2025-26 submitted under SEBI Listing Regulations
- Proposed ratification of cost auditor remuneration of Rs 50,000 per annum plus taxes
- Proposal for regularization of Mr. Niladri Choudhury as Non-Executive Non-Independent Director
Auro Impex & Chemicals Limited has signed a Leave and License Agreement with Success Commodeal Private Limited for a new 15,400 sq. ft. manufacturing and storage facility in Serampore, Hooghly, West Bengal. The agreement commenced on July 1, 2026, and the company has taken possession of the premises situated along NH-2 (Delhi Road). Phased integration is underway, with full operations targeted for the upcoming quarter of FY 2026-27. This expansion aims to enhance production capacity, storage, and order fulfillment capabilities for its ESP components and fabrication business.
- Secured 15,400 Sq. Ft. of manufacturing and storage space in Serampore, Hooghly, West Bengal
- Executed Leave and License Agreement with Success Commodeal Private Limited effective July 1, 2026
- Facility is scheduled to become fully operational during the upcoming quarter of FY 2026-27
- Strategically located on National Highway-2 (Delhi Road) for improved logistical efficiency
Auro Impex & Chemicals has executed a Leave and License Agreement with Success Commodeal Private Limited for a new 15,400 sq. ft. manufacturing and storage facility in Serampore, Hooghly (West Bengal). The agreement commenced on July 1, 2026, and the company has taken possession of the property on NH-2 (Delhi Road). The facility is slated to become fully operational in the upcoming quarter of FY 2026-27, supporting near-term capacity additions and faster order fulfillment. This lease-based expansion allows the ₹33 Cr market-cap company to expand warehousing and production capabilities to service growing industrial demand.
- Acquired 15,400 sq. ft. facility on Leave and License from Success Commodeal Private Limited
- Possession assumed following the official agreement commencement date of July 1, 2026
- Facility expected to become fully operational in the upcoming quarter of FY 2026-27
- Strategically situated on NH-2 (Delhi Road) in Serampore, Hooghly to optimize logistics
Auro Impex & Chemicals has approved an increase in its authorized share capital to ₹20 crore, divided into 2 crore equity shares of ₹10 each. This procedural move was approved by the board on August 8, 2026, and will be put to a shareholder vote at the 33rd Annual General Meeting (AGM) on September 12, 2026. The company has fixed September 5, 2026, as the cut-off date for e-voting eligibility. While no specific fundraise was detailed, this expansion of the capital limit provides the necessary headroom for future equity issuance or corporate actions.
- Authorized Share Capital increased to ₹20,00,00,000 (₹20 crore) from the previous limit
- Total authorized equity shares set at 2,00,00,000 with a face value of ₹10 each
- 33rd Annual General Meeting (AGM) scheduled for September 12, 2026
- Cut-off date for remote e-voting eligibility fixed as September 5, 2026
- Board meeting concluded on August 8, 2026, after a 70-minute session
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew by 53.4% YoY from INR 151.85 Cr in FY22 to INR 232.97 Cr in FY23. However, standalone revenue for FY25 showed a significant decline of 32.5%, falling to INR 164.97 Cr from INR 244.26 Cr in FY24, primarily due to cyclicality in end-user industries like power and steel.
Geographic Revenue Split
Not disclosed in available documents. The company operates manufacturing units in West Bengal and serves domestic industries including power, iron, steel, and cement.
Profitability Margins
Net Profit Margin (NPM) improved from 1.51% in FY22 to 2.58% in FY23. On a standalone basis, the Net Profit Ratio declined from 3% in FY24 to 2% in FY25, reflecting a 33.3% decrease in margin efficiency due to lower revenue absorption of fixed costs.
EBITDA Margin
Consolidated EBITDA margin improved from 4.34% in FY22 to 5.47% in FY23, a growth of 113 basis points. Standalone EBITDA for FY25 was INR 8.04 Cr, a 26% decrease from INR 10.87 Cr in FY24, as the company faced pricing pressure from raw material volatility.
Capital Expenditure
The company reported fixed assets of INR 9.10 Cr and Capital Work-in-Progress (CWIP) of INR 2.75 Cr in FY23. Total non-current assets increased by 33.4% YoY to INR 12.42 Cr, indicating ongoing investment in manufacturing infrastructure for Electrostatic Precipitators.
Credit Rating & Borrowing
Crisil reaffirmed a 'BBB-/Stable' rating in April 2025. However, Infomerics downgraded the long-term rating to 'IVR BB-/Negative' and CARE assigned 'CARE BB-; Stable' in late 2025, both under 'Issuer Not Cooperating' categories due to lack of information. Total debt increased by 52.4% from INR 29.42 Cr in FY24 to INR 44.83 Cr in FY25.
Operational Drivers
Raw Materials
Steel is the primary raw material, representing the bulk of the Raw Material Cost (RMC) which was INR 211.94 Cr (91% of total income) in FY23.
Import Sources
Not disclosed in available documents; however, the company is noted for importing components for Electrostatic Precipitators (ESP) and exporting battery industry parts.
Capacity Expansion
Current installed capacity is 17,500 M.T. as of FY23. The company operates 24/7 to meet demand for air pollution control equipment.
Raw Material Costs
Raw Material Costs (RMC) stood at INR 211.94 Cr in FY23, a 52.5% increase from INR 138.93 Cr in FY22. The commodity nature of steel exerts pricing pressure, leading to margin volatility of approximately 4-4.5% on a consolidated level.
Manufacturing Efficiency
Capacity utilization is supported by 24/7 operations. Inventory turnover ratio improved significantly by 65.5%, from 5.72 in FY24 to 9.47 in FY25, indicating faster movement of stock.
Strategic Growth
Growth Strategy
Growth is driven by increasing environmental regulations requiring thermal plants to install or upgrade Electrostatic Precipitators (ESP). The strategy involves leveraging 30+ years of promoter experience, maintaining long-term relationships (5+ years) with top clients, and providing customized fabrication solutions.
Products & Services
Internal parts of Electrostatic Precipitators (ESP), full ESP units, air pollution control equipment, and fabrication services for the battery industry.
Brand Portfolio
Auro Impex, Auro Industries.
New Products/Services
The company expanded from manufacturing internal ESP parts (2011) to full Electrostatic Precipitators (2017).
Market Expansion
The company is focusing on the power sector, which currently originates a significant portion of its revenue, and is expanding its presence in the iron, steel, and cement industries.
Strategic Alliances
The company operates as the 'Auro Group' by combining business profiles with Auro Industries Limited under common management.
External Factors
Industry Trends
The industry is shifting toward stricter emission norms for thermal power plants, which is growing the market for ESP technology. The company is positioned as a technology provider for air pollution reduction.
Competitive Landscape
The company competes with other fabrication and air pollution control equipment manufacturers serving OEMs in the power and steel sectors.
Competitive Moat
The moat is built on 30+ years of industry presence and deep technical expertise in ESP manufacturing. Sustainability is supported by long-term client relationships (5+ years) and the high cost/technical barrier for customers to switch pollution control vendors.
Macro Economic Sensitivity
High sensitivity to industrial CAPEX cycles in India. A slowdown in infrastructure or power sector spending directly reduces demand for air pollution control equipment.
Consumer Behavior
Not applicable as the company is a B2B industrial manufacturer.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013 and SEBI (LODR) Regulations. As an SME-listed entity, certain corporate governance reports (Regulation 27(2)) are not applicable.
Environmental Compliance
The company's core business is providing environmental compliance solutions (ESPs) to other industries to meet government pollution norms.
Taxation Policy Impact
The company provided for INR 2.28 Cr in taxes in FY23 on a PBT of INR 8.28 Cr, representing an effective tax rate of approximately 27.5%.
Legal Contingencies
The company received a cautionary email from the National Stock Exchange (NSE) in October 2025 for a delay in submitting proceedings of an Extraordinary General Meeting (EGM) beyond the 12-hour limit prescribed by SEBI. The company attributed this to technical issues on the NEAPS portal.
Risk Analysis
Key Uncertainties
The primary uncertainty is the 'Issuer Not Cooperating' status from multiple credit agencies, which could impact the company's ability to secure future financing or result in higher borrowing costs.
Geographic Concentration Risk
Manufacturing is concentrated in West Bengal, making the company sensitive to regional labor or regulatory changes in that state.
Third Party Dependencies
High dependency on steel suppliers; volatility in steel prices can squeeze EBITDA margins, which are already relatively thin at 4-5.5%.
Technology Obsolescence Risk
Risk of newer air filtration technologies (like fabric filters) replacing ESPs in certain industrial applications.
Credit & Counterparty Risk
Trade receivables stood at INR 14.95 Cr in FY23. The trade receivable turnover ratio improved from 7.46 in FY24 to 17.00 in FY25, suggesting improved collection efficiency.
