Outcome of Board Meeting attached.
ELECON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Elecon Engineering Board's 15th April 2026 meeting approved multiple key items. Mr. Chintan Shah was appointed as CFO effective immediately, bringing 19 years of finance experience. The company reported strong FY2026 standalone revenue of Rs 20,160 lakhs with net profit of Rs 12,679 lakhs (EPS Rs 5.59), up from Rs 8,245 lakhs in Q4. Consolidated net profit was Rs 3,412 lakhs (EPS Rs 15.20) but impacted by Rs 1,018 lakhs goodwill impairment charge. The Board recommended final dividend of Rs 1.50 per share (150%) for FY2025-26, in addition to Rs 0.50 interim dividend already paid. Mr. Prayasvin Patel was re-appointed as CMD for 3 years from July 2026. New appointments include Mr. Aayush Shah as Executive Director from October 2026 and Dr. Savan Godiawala as Independent Director for 5 years. Auditors including CNK & Associates were re-appointed for various roles.
Positive sentiment from dividend increase, CFO appointment providing leadership stability, and new independent director strengthening board governance. The goodwill impairment on consolidated results is a one-time charge and does not affect standalone performance or cash flows.