Change in Directorate
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Acknit Industries held its Board meeting on May 27, 2026, approving audited financial results for FY26. Revenue from operations remained flat at Rs 24,042.61 lakhs versus Rs 24,037.41 lakhs in FY25, while net profit declined to Rs 818.41 lakhs from Rs 899.51 lakhs. The Board also recommended a 15% dividend (Rs 1.50 per share) for FY26. Key director changes include the re-appointment of Mr. Rajarshi Ghosh as Independent Director for a second 5-year term effective June 30, 2026, subject to shareholder approval. Additionally, two Independent Directors — Mr. Mukul Banerjee and Mr. Jadav Lal Mukherjee — will cease their directorships on May 29, 2026, upon completion of their 2 consecutive terms. The company also announced progress on new business segments including commercial production of helmets and trial production of gloves at its Falta III expansion facility.
The departure of two Independent Directors represents a significant board-level change that may raise governance concerns among investors, though the company has indicated positions will be filled as per prescribed timelines. The flat revenue and declining profit margins could weigh on sentiment despite the dividend announcement.