Appointment of Mr. Sanjay Gupta as Chairman and Non Executive Director
APOLLOPIPE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Apollo Pipes Ltd's Board meeting on May 7, 2026 approved multiple items including audited financial results for FY2026 (standalone net profit of Rs. 12.19 crore vs Rs. 30.82 crore in FY2025, indicating a significant decline). The Board appointed Mr. Sanjay Gupta (DIN: 00233188), brother of Managing Director Mr. Sameer Gupta, as Additional Director (Non-Executive, Non-Independent) and Chairman of the Board effective May 8, 2026. Mr. Sameer Gupta will step down as Chairman but continue as Managing Director. Simultaneously, Mr. Ashok Kumar Gupta resigned as Non-Executive Non-Independent Director citing pre-occupation with other professional commitments, effective May 8, 2026. The Board also approved a Stock Appreciation Rights Scheme-2026 with a pool of 25 lakh SAR units and recommended a final dividend of Rs. 0.70 per share (7% on face value).
The appointment of promoter family member Sanjay Gupta as Chairman represents a governance change with potential succession planning implications. The resignation of Ashok Kumar Gupta, combined with the Q4/FY profit decline and lower dividend (vs Rs. 1.25 last year), may signal caution to investors. The SAR scheme could help retain employees but involves share dilution.