Re-appointment of Internal Auditors for the F.Y. 2026-27
ALBERTDAVD · price
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Albert David Ltd's board meeting on May 12, 2026 approved several key items. Mr. Amit Mahla was appointed as CEO (effective same day), succeeding Mr. Umesh Manohar Kunte who resigned as Managing Director & CEO effective December 18, 2025. The company reported audited FY2026 results showing revenue of Rs 33,359.81 Lacs but a net loss of Rs 149.47 Lacs, a sharp decline from FY2025 profit of Rs 2,522.77 Lacs. The Q4 loss was Rs 2,143.44 Lacs. The board recommended a final dividend of Rs 5 per share (50% on Rs 10 face value) for FY2026, subject to shareholder approval at the 87th AGM scheduled for August 6, 2026. PwC Services LLP was re-appointed as Internal Auditors and M/s. S. Gupta & Co. as Cost Auditors for F.Y. 2026-27.
The company saw a significant turnaround from profit to loss in FY2026, requiring close monitoring. The appointment of an experienced pharmaceutical executive as CEO may provide strategic direction. The continuation of the dividend signals management confidence despite losses.