OMAXAUTO - Omax Autos
📢 Recent Corporate Announcements
Omax Autos reported a strong performance for Q3 FY26, with revenue from operations growing 32.4% YoY to ₹122.18 crore. Net profit saw a significant jump of 326% YoY, reaching ₹12.22 crore compared to ₹2.87 crore in the same quarter last year. The company's operational efficiency improved as Profit Before Tax (PBT) rose to ₹15.86 crore from ₹3.62 crore YoY. For the nine-month period, revenue grew by 21.6% to ₹310.09 crore, reflecting robust demand in the sheet metal components segment.
- Revenue from operations increased by 32.4% YoY to ₹12,217.58 lakhs in Q3 FY26.
- Net Profit (PAT) for the quarter stood at ₹1,222.13 lakhs, up from ₹286.63 lakhs in Q3 FY25.
- Earnings Per Share (EPS) improved significantly to ₹5.71 from ₹1.34 in the corresponding quarter of the previous year.
- Finance costs decreased to ₹379.72 lakhs in Q3 FY26 from ₹491.20 lakhs in Q3 FY25, indicating improved debt management.
- The company recognized a one-time impact of ₹44 lakhs due to the new Labour Code on Wages under employee benefit expenses.
Omax Autos Limited has reported the resignation of its Internal Auditor, M/s. Singhi Chugh & Kumar, effective January 14, 2026. The Board of Directors formally took note of this resignation during their meeting held on January 27, 2026. The firm was previously appointed to conduct internal audits for the Financial Year 2025-26. While the company has complied with SEBI disclosure norms, no specific reason for the resignation was provided in the filing.
- M/s. Singhi Chugh & Kumar (FRN: 013613N) resigned as Internal Auditor effective January 14, 2026
- The Board of Directors officially acknowledged the resignation in a meeting on January 27, 2026
- The resignation pertains to the audit tenure for the Financial Year 2025-26
- Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
Omax Autos Limited has appointed M/S T S A Business Advisors Private Limited as the company's Internal Auditor for the fourth quarter of FY 2025-26. The appointment was approved during a board meeting on January 27, 2026, following recommendations from the Audit Committee. The firm, originally established in 2012, brings expertise in tax advisory, internal audits, and strategic financial services. Concurrently, the board also approved the unaudited financial results for the quarter and nine months ended December 31, 2025.
- Appointment of M/S T S A Business Advisors Private Limited as Internal Auditor effective January 27, 2026.
- The auditor is appointed specifically for the 4th quarter of the financial year 2025-26.
- Board approved unaudited financial results for Q3 and the nine-month period ending December 31, 2025.
- T S A Business Advisors is a professional firm established in 2012 with a focus on compliance and strategic services.
Omax Autos Limited held a board meeting on January 27, 2026, to approve its unaudited financial results for the quarter and nine months ended December 31, 2025. Along with the earnings approval, the board appointed M/s. T S A Business Advisors Private Limited as the Internal Auditors for the fourth quarter of FY 2025-26. This appointment follows the recommendation of the Audit Committee to oversee professional financial and advisory compliance. Investors should review the detailed financial annexures to assess the company's operational performance during the period.
- Board approved unaudited financial results for the quarter and nine months ended December 31, 2025.
- M/s. T S A Business Advisors Private Limited appointed as Internal Auditors for Q4 FY 2025-26.
- The board meeting commenced at 12:45 P.M. and concluded at 3:30 P.M. on January 27, 2026.
- The newly appointed internal audit firm is an outgrowth of Tarun Subhash Arora & Co., established in 2012.
Omax Autos Limited has announced the resignation of its Internal Auditor, M/s. Singhi Chugh & Kumar, effective January 14, 2026. The auditing firm was appointed for the Financial Year 2025-26 but has stepped down mid-term. The company has filed this disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015, and the resignation is effective immediately from the close of business hours on the date of the letter.
- M/s. Singhi Chugh & Kumar (FRN 013613N) resigned as Internal Auditors on January 14, 2026.
- The resignation is effective from the close of business hours on the date of the announcement.
- The firm was responsible for the internal audit of the company for the 2025-26 fiscal year.
- The disclosure was made in compliance with SEBI Master Circular dated November 11, 2024.
Omax Autos Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that all share dematerialization and rematerialization requests for the quarter ended December 31, 2025, were processed within the mandated timelines. It verifies that security certificates were mutilated and cancelled after due verification, and depository records were updated accordingly. This is a standard procedural filing required by all listed companies to ensure the integrity of electronic shareholding records.
- Compliance certificate submitted for the quarter ended December 31, 2025
- Confirmation provided by Registrar and Share Transfer Agent, MUFG Intime India Private Limited
- Verification that securities received for dematerialization were processed and listed on stock exchanges
- Confirmation that security certificates were mutilated and cancelled within prescribed SEBI timelines
Omax Autos Limited has informed the exchanges that its trading window will be closed starting January 1, 2026, for the quarter and nine months ending December 31, 2025. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the financial results are declared. The specific date for the board meeting to approve these results will be announced at a later date.
- Trading window closure begins on January 1, 2026, for the Q3 FY26 reporting period.
- Closure applies to all designated persons and their immediate relatives under SEBI regulations.
- The window will reopen 48 hours after the official declaration of financial results.
- The board meeting date for result approval is yet to be finalized and communicated.
Financial Performance
Revenue Growth by Segment
Total Operating Income grew 24.00% YoY to INR 300.78 Cr in FY23, driven by the commencement of production at the Long Member Plant. The company operates in a single segment of metal sheet components and parts.
Geographic Revenue Split
Not disclosed in available documents. Manufacturing units are located in Uttar Pradesh and Haryana.
Profitability Margins
Operating Profit Margin was 22.87% in FY25, a slight decline of 1.16% from 23.14% in FY24. Net Profit Margin improved significantly by 78.04% to 5.84% in FY25 from 3.28% in FY24.
EBITDA Margin
EBITDA margin was 4.60% (INR 13.83 Cr) in FY23, recovering from -11.30% (INR -25.12 Cr) in FY22. Core profitability improved due to the operationalization of the Long Member Plant.
Capital Expenditure
Not disclosed in available documents, though significant investment was made in the Long Member Plant which commenced production in FY23.
Credit Rating & Borrowing
Credit rating was IVR BB-/Stable (Long term) and IVR A4 (Short term) as of January 2024, subsequently reaffirmed and withdrawn at the company's request. Interest coverage ratio improved 30.48% to 2.74 in FY25.
Operational Drivers
Raw Materials
Sheet metal (Steel) is the primary raw material used for manufacturing automobile and railway components. Specific cost percentages are not disclosed.
Capacity Expansion
The company commenced production at its Long Member Plant in FY23, which was the primary driver for the 24.00% revenue growth that year.
Raw Material Costs
Raw material price increases adversely impacted the Railway business due to the fixed-price nature of railway contracts, squeezing margins when input costs rose.
Manufacturing Efficiency
Inventory turnover ratio improved 26.06% to 28.15 in FY25, indicating higher operational efficiency in moving stock.
Strategic Growth
Expected Growth Rate
24%
Growth Strategy
Growth is driven by the Commercial Vehicle (CV) segment revival in construction and mining, and the operationalization of the Long Member Plant. The company leverages a 30-year relationship with Tata Motors Limited to secure repeat orders and maintain a healthy market share in frame assembly.
Products & Services
Sheet metal components, long members for trucks/buses, frame assemblies for medium and heavy trucks, and frame assemblies for CNG intermediate CVs.
Brand Portfolio
Omax Autos Limited.
New Products/Services
Frame assembly for intermediate CVs running on compressed natural gas (CNG).
Market Share & Ranking
Healthy market share with Tata Motors Limited in long-member manufacturing and frame assembly for medium and heavy trucks and buses.
External Factors
Industry Trends
The CV industry is growing due to infrastructure revival and reopening of schools/tourism. There is a technology shift toward CNG for intermediate commercial vehicles.
Competitive Moat
Moat is built on a 30-year established relationship with Tata Motors and specialized manufacturing capabilities for heavy CV frame assemblies, which are difficult for new entrants to replicate quickly.
Macro Economic Sensitivity
Sensitive to infrastructure segments (construction, mining, highway construction), RBI interest rate changes, and general economic revival affecting fleet operator profitability.
Consumer Behavior
Revival in tourism and reopening of schools is driving demand for buses and related frame assemblies.
Regulatory & Governance
Industry Regulations
Compliance with the Companies Act, 2013 and Indian Accounting Standards (Ind AS). GST regulations under the CGST Act, 2017.
Taxation Policy Impact
The company faced a demand for tax with interest and penal action under Section 74(1) of the CGST Act, 2017, for alleged intent to evade tax.
Legal Contingencies
A penalty proceeding for a total demand of INR 125,55,66,334 (approx. INR 125.56 Cr) was dropped by the Commissioner (Appeals), Lucknow, on November 18, 2025.
Risk Analysis
Key Uncertainties
High customer concentration (95%) and volatility in raw material prices for fixed-price contracts are the primary business risks.
Geographic Concentration Risk
Manufacturing is concentrated in Uttar Pradesh and Haryana.
Third Party Dependencies
Critical dependency on Tata Motors Limited for the majority of the CV segment revenue.
Technology Obsolescence Risk
Risk of failing to keep pace with fast-changing technology and new product development requirements from major automotive customers.
Credit & Counterparty Risk
Receivables quality is high as indicated by a 101.22% improvement in the Debtors Turnover ratio to 104 in FY25.