Annual Report for the FY 2024-25
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Azad India Mobility Ltd (formerly Indian Brightsteel Co. Ltd) filed its 64th Annual Report for FY 2024-25. Total revenue stood at ₹10.06 crore, described as substantially higher than previous years. The company returned to profitability with a Profit After Tax of ₹7.21 lakhs, after incurring losses in prior years. Basic earnings per share improved to ₹0.02. The company has pivoted its business towards manufacturing, assembly, and trading of electric buses, and maintains a nearly debt-free position with a debt-to-equity ratio of 0.05. During the year, it acquired 100% of NAE Mobility Private Limited, making it a wholly owned subsidiary. The 64th AGM is scheduled for September 26, 2025.
The return to profitability and business transition into electric mobility are positive signals, though the PAT of ₹7.21 lakhs is very small relative to the revenue base. Shareholders should note two material related party transactions seeking approval at the AGM — up to ₹100 crore with NAE Mobility and ₹200 crore with Azad Coach Builders Pvt Ltd — both linked to the same promoter group. These large RPT limits relative to the company's small turnover warrant attention from minority shareholders.