Elgi Equipments Limited has informed the Exchange about Board Outcome on Date of AGM
ELGIEQUIP · price
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Elgi Equipments held its Board meeting on May 27, 2026, approving several key items. The 66th AGM is scheduled for August 14, 2026 via video conferencing. The Board recommended a final dividend of Rs. 2.70 per share (270%) for FY2026, with record date July 17, 2026. Three director changes were approved: Ms. Padmaja Alaganandan appointed as Non-Executive Independent Director for 5 years, Mr. Varun Jay Varadaraj (son of Managing Director) appointed as Non-Executive Non-Independent Director, and Mr. Anvar Jay Varadaraj re-appointed as Executive Director for 5 years from August 2026. The company also appointed B S R & Co. LLP as incoming statutory auditors from 2027, replacing Price Waterhouse. Financial results show strong performance with FY2026 consolidated sales of Rs. 3,951 Crores (up 13%) and consolidated PAT of Rs. 430 Crores (up 23%), though standalone PAT slightly declined to Rs. 345 Crores.
Positive signals include strong 13% revenue growth and 23% PAT growth on consolidated basis, plus shareholder-friendly dividend payout. The appointment of two promoter family members to the board may consolidate family control. Shareholders should note the upcoming auditor change and director appointments requiring AGM approval.