Elgi Equipments Limited has informed the Exchange regarding Change in Director(s) of the company.
ELGIEQUIP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Elgi Equipments Limited's Board of Directors met on May 27, 2026, and approved several key items. The Board recommended a final dividend of ₹2.70 per equity share (270%) for FY 2025-26, with July 17, 2026 as the record date. Three director changes were approved: Ms. Padmaja Alaganandan was appointed as an Additional Non-Executive Independent Director for 5 years (she has 30+ years of consulting experience from PwC). Mr. Varun Jay Varadaraj, son of Managing Director Jairam Varadaraj, was appointed as an Additional Non-Executive Non-Independent Director. Mr. Anvar Jay Varadaraj, also son of the Managing Director and currently COO, was re-appointed as Executive Director for another 5 years. Additionally, the company intends to change its Statutory Auditors from Price Waterhouse to B S R & Co. LLP from the 67th AGM (FY 2027-28). The company reported strong FY 2025-26 results with consolidated sales of ₹3,951 Crores (up 13%) and consolidated PAT of ₹430 Crores (up 23%).
The appointment of two promoter family members (Varun and Anvar Jay Varadaraj) to the board signals continued family involvement in company governance. The addition of an experienced independent director (Padmaja Alaganandan) strengthens board independence. The dividend recommendation provides shareholder returns in line with strong performance.