Appointment of Mr. Bhavik Chhajer (DIN: 08475397) as the Joint Managing Director of the Company with effect from May 15, 2026.
ARIHANTSUP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 5.0 pts less than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
The Board of Directors meeting on May 15, 2026 approved multiple items including audited financial results for FY2026 with unmodified opinion. For standalone, total income was Rs. 9,222.72 lakhs with PAT of Rs. 145.69 lakhs, down from Rs. 1,947.90 lakhs last year. Consolidated total income was Rs. 55,601.26 lakhs with PAT of Rs. 2,793.25 lakhs (after NCI), down from Rs. 4,123.96 lakhs. The Board recommended a final dividend of Rs. 0.25 per share (2.5%). Two key appointments were made: Mr. Parth Chhajer and Mr. Bhavik Chhajer, both sons of Chairman and MD Ashokkumar B. Chhajer, were appointed as Joint Managing Directors for 5 years subject to shareholder approval. Both are promoter group members and were previously Whole-time Directors. The company also approved sale of land at Village Dahivali to Dwellcons Private Limited (wholly-owned subsidiary).
The appointment of two promoter family members as Joint Managing Directors indicates further consolidation of family control in company management. The significant decline in profit after tax (standalone PAT down 93% YoY) may raise concerns about operational performance despite stable revenue growth.