Appointment of Mr. Parth Chhajer (DIN: 06646333) as the Joint Managing Director of the Company with effect from May 15, 2026.
ARIHANTSUP · price
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Arihant Superstructures Limited held its Board Meeting on May 15, 2026, approving audited financial results for FY2026. The company reported standalone PAT of Rs. 145.69 lakhs (down significantly from Rs. 1,947.90 lakhs in FY25) and consolidated PAT of Rs. 4,604.34 lakhs (vs Rs. 5,467.62 lakhs in FY25). The Board recommended a final dividend of Rs. 0.25 per share (2.5%) for FY25-26. The company reversed its earlier decision to appoint KFin Technologies as RTA and will continue with Adroit Corporate Services. The Board approved sale of land at Village Dahivali, Raigad to Dwellcons Private Limited (100% WOS) on arm's length basis. Additionally, the Board appointed two Joint Managing Directors: Mr. Parth Chhajer (son of Chairman & MD Ashokkumar B. Chhajer) and Mr. Bhavik Chhajer (another son), both from the promoter family for 5-year terms subject to shareholder approval.
The dual appointment of promoter family members as Joint Managing Directors signals planned succession within the Chhajer family, reinforcing promoter control. The sharp decline in standalone earnings (down 93% YoY) may concern investors, though the consolidated results remain healthier. The promoter dividend waiver demonstrates promoter commitment but also reduces cash outflow to controlling shareholders.