Albert David Limited has informed the Exchange regarding Outcome of Board Meeting held on May 12, 2026.
ALBERTDAVD · price
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Albert David Limited's board meeting on May 12, 2026 resulted in several key outcomes. The board appointed Mr. Amit Mahla as the new CEO effective immediately, filling the vacancy created when Mr. Umesh Manohar Kunte resigned as Managing Director & CEO from December 18, 2025. The company also approved audited financial results for FY2026, showing a significant decline with net profit of Rs. -149.47 Lacs compared to Rs. 1,720.08 Lacs in FY2025, despite total income of Rs. 34,105.14 Lacs. The board recommended a final dividend of Rs. 5 per share (50%) for FY2026, subject to shareholder approval at the 87th AGM scheduled for August 6, 2026. Additionally, PwC was reappointed as internal auditors and S. Gupta & Co. as cost auditors for FY2026-27. The statutory auditors issued an unmodified opinion on the financial statements.
The appointment of a new CEO with extensive pharmaceutical industry experience (28+ years across Cipla, Sun Pharma, JB Pharma) may provide stability following the prior CEO's departure. However, shareholders should note the significant decline in profitability for FY2026, though the dividend recommendation provides some return to investors.