Re-appointment of Non-Executive Independent Director
APLAPOLLO · price
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APL Apollo Tubes reported strong FY26 results with consolidated revenue of ₹23,079 crore (up 11.5% from ₹20,690 crore), net profit of ₹1,203 crore (up 59% from ₹757 crore), and EPS of ₹43.34. The Board recommended a final dividend of ₹8.50 per share (425% on ₹2 face value). Four independent directors were re-appointed for second 5-year terms: Mrs. Asha Anil Agarwal and Shri Upendra Kamath (from Oct 30, 2026), and Shri Rajeev Anand and Shri Dinesh Kumar Mittal (from May 11, 2027). The Board also approved voluntary liquidation of APL Apollo Mart Limited (non-operational subsidiary contributing only 0.04% to revenue) and granted in-principle approval to divest Blue Ocean Projects Private Limited to unlock capital for the core steel tube manufacturing business.
Strong financial performance with 59% profit growth is positive for shareholders. The restructuring through subsidiary liquidation and divestment signals focus on core business, which could improve operational efficiency and capital allocation.