Elgi Equipments Limited has informed the Exchange regarding Change in Auditors of the company.
ELGIEQUIP · price
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Elgi Equipments held its Board meeting on May 27, 2026, approving several items including a final dividend of Rs. 2.70 per share for FY 2025-26 (Record Date: July 17, 2026). The company announced plans to change statutory auditors from Price Waterhouse Chartered Accountants LLP to B S R & Co. LLP from the 67th AGM in 2027. Two new directors were appointed: Ms. Padmaja Alaganandan as an Independent Director (5-year term) and Mr. Varun Jay Varadaraj as a Non-Independent Director. Mr. Anvar Jay Varadaraj was re-appointed as Executive Director for 5 years from August 2026. Financially, the company posted consolidated sales of Rs. 3,951 Crores (up 13%) and PAT of Rs. 430 Crores (up 23%) for FY 2025-26.
The appointment of a promoter family member (Mr. Varun Jay Varadaraj) to the board may raise governance considerations for some investors. The planned auditor change to B S R & Co. LLP represents a routine transition after Price Waterhouse completes its 10-year tenure. Strong financial results and dividend recommendation are positive signals for shareholders.