Board Outcome on AGM Date
ELGIEQUIP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Elgi Equipments Ltd's Board of Directors met on May 27, 2026 and approved multiple items. The 66th AGM is scheduled for August 14, 2026 via video conferencing. The Board recommended a final dividend of ₹2.70 per equity share (270%) for FY 2025-26, with a record date of July 17, 2026 and payment within 30 days of shareholder approval. Three board changes were approved: Ms. Padmaja Alaganandan appointed as an Additional Non-Executive Independent Director for 5 years; Mr. Varun Jay Varadaraj (son of MD Jairam Varadaraj) appointed as an Additional Non-Executive Non-Independent Director; and Mr. Anvar Jay Varadaraj (also son of MD) re-appointed as Executive Director for 5 years from August 2, 2026. M/s. STR & Associates were appointed as Cost Auditors for FY 2026-27, and B S R & Co. LLP is recommended to replace Price Waterhouse Chartered Accountants LLP as Statutory Auditors from the 67th AGM in 2027. Financially, the company posted consolidated sales of ₹3,951 Crores (up 13%) and consolidated PAT of ₹430 Crores (up 25%) for FY 2025-26.
The dividend of ₹2.70 per share and strong 25% PAT growth are positive signals for shareholders. The appointment of two promoter family members to the board consolidates family control, while the new independent director brings PwC consulting experience. The auditor change to B S R & Co. LLP is routine after PwC's two consecutive terms.