Elecon Engineering Company Limited has informed the Exchange about change in Management
ELECON · price
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Elecon Engineering's board on 15th April 2026 appointed Mr. Chintan Shah (nearly 19 years of finance experience across Big4, IT, engineering and other sectors) as the new Chief Financial Officer effective immediately. The board also re-appointed Mr. Prayasvin Patel as Chairman & Managing Director for 3 years, appointed Mr. Aayush Shah as Executive Director for 3 years (effective 1 October 2026), and inducted Dr. Savan Godiawala as an Independent Director for 5 years. For FY26, standalone revenue rose about 8% to Rs. 2,01,604 lakhs and net profit jumped around 40% to Rs. 47,670 lakhs, though Q4 standalone profit dipped to Rs. 9,701 lakhs from Rs. 12,548 lakhs a year ago. Consolidated FY26 net profit fell to Rs. 34,115 lakhs (from Rs. 41,510 lakhs) mainly due to a one-time Rs. 10,177 lakhs goodwill impairment. The board recommended a final dividend of Rs. 1.50 (150%) per share on the Re. 1 face value, subject to shareholder approval.
Strong full-year profit growth, a 150% final dividend, and a refreshed finance leadership are positive for shareholders. Investors should watch the Q4 slowdown in standalone earnings and the consolidated goodwill impairment, but overall the results and continuity at the top suggest a stable outlook for the stock.