Airfloa Rail Technology Fined ₹1.8 Cr for CSR Non-Compliance

Airfloa Rail Technology Limited has received adjudication orders from the Regional Director, Southern Region, Chennai, regarding delays in transferring unspent Corporate Social Responsibility (CSR) amounts for FY 2019-20 to FY 2022-23. The company's appeals were dismissed, and the monetary penalty was enhanced to approximately ₹1.8 crores. This penalty is separate from any levied on directors. The company states the issue is procedural and does not impact operations, execution, or growth outlook. Management is evaluating legal remedies. Despite this, Airfloa reported record Q1 FY27 revenue of ₹100.7 crores, a 200% YoY increase, and remains on track for its ₹500 crores revenue target.