Amendment to code of fair disclosure of UPSI
ELGIEQUIP · price
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Elgi Equipments' Board meeting on May 27, 2026 approved multiple items. The 66th AGM is scheduled for August 14, 2026. A final dividend of Rs. 2.70 per share (270%) was recommended for FY26, with July 17, 2026 as the record date. Three board appointments were approved: Ms. Padmaja Alaganandan as an Independent Director (5-year term) with 30+ years consulting experience at PwC; Mr. Varun Jay Varadaraj as Non-Independent Director (son of the Managing Director); and re-appointment of Mr. Anvar Jay Varadaraj as Executive Director for 5 years from August 2026. Statutory auditors will change from Price Waterhouse to B S R & Co. LLP from FY27-28. Financially, Q4 consolidated sales grew 12% to Rs. 1,113 Crores with PAT up 25% to Rs. 128 Crores. Full-year consolidated sales reached Rs. 3,951 Crores (up 13%) with PAT of Rs. 430 Crores (up 23%), though standalone PAT declined slightly to Rs. 345 Crores.
The dividend declaration and strong 23% PAT growth in FY26 are positive signals for shareholders. The appointment of two promoter family members to the board may reinforce family control. The auditor change to B S R & Co. LLP signals a fresh audit perspective. Growth was driven by India and America markets while Europe and Australia remained subdued.