Maharashtra Scooters Limited has informed the Exchange regarding Change in Director(s) of the company.
MAHSCOOTER · price
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Maharashtra Scooters Limited has announced the appointment of two existing Non-Executive Directors — Shri V Rajagopalan and Shri S Ravikumar — as Joint Managing Directors, effective 1 August 2025, for a 5-year term ending 31 July 2030, subject to shareholder approval. Both are senior Bajaj Group executives (Rajagopalan heads Legal & Taxation at Bajaj Finserv; Ravikumar is Chief Business Development Officer at Bajaj Auto). The board also approved Q1 FY26 (quarter ended 30 June 2025) unaudited results: total income of ₹2,927 lakh, driven largely by ₹2,277 lakh in dividend income, and profit after tax of ₹3,536 lakh versus ₹826 lakh in the same quarter last year. The company has effectively become an investment company after closing its factory in the previous financial year.
The elevation of two senior Bajaj Group insiders to executive leadership strengthens group oversight at the company, which now operates mainly as an investment vehicle. The strong Q1 profit reflects dividend inflows from its investment portfolio rather than core business activity, so results may remain lumpy quarter to quarter.