Apollo Pipes Limited has informed the Exchange about change in Management
APOLLOPIPE · price
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On the reaction day the stock moved 4.8 pts less than Nifty Microcap 250 and 4.9 pts less than its Plastic Products - Industrial peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Apollo Pipes Limited's Board meeting on May 7, 2026 approved several key items: (1) Appointment of Mr. Sanjay Gupta as Additional Director and Chairman (w.e.f. May 8, 2026), with Mr. Sameer Gupta stepping down as Chairman but continuing as Managing Director. Mr. Sanjay Gupta is the brother of Mr. Sameer Gupta and has over 30 years of steel industry experience. (2) Resignation of Mr. Ashok Gupta as Non-Executive Non-Independent Director (w.e.f. May 8, 2026) due to other professional commitments. (3) Recommended final dividend of Rs. 0.70 per share (7% on Rs. 10 face value) for FY 2026. (4) Approved Stock Appreciation Rights Scheme 2026 with a pool of 25 lakh SAR units. Financial performance showed significant decline: standalone net profit dropped to Rs. 121.85 Cr from Rs. 308.19 Cr in FY 2025, while consolidated net profit fell to Rs. 46.63 Cr from Rs. 340.87 Cr.
The appointment of a family member as Chairman while the MD continues may indicate planned succession within the promoter family. The substantial profit decline (60-86% drop) could negatively impact investor sentiment despite the dividend announcement.