Elgi Equipments Limited has informed the Exchange regarding Change in Auditors of the company.
ELGIEQUIP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Elgi Equipments' Board approved multiple items including: appointment of Ms. Padmaja Alaganandan as an Independent Non-Executive Director with 30+ years consulting experience including PwC and Mercer; appointment of Mr. Varun Jay Varadaraj as Non-Independent Director (son of Managing Director Jairam Varadaraj); and re-appointment of Mr. Anvar Jay Varadaraj as Executive Director (also son of Managing Director). The Board recommended a dividend of ₹2.70 per share for FY2025-26 with record date July 17, 2026. For statutory auditors, Price Waterhouse will serve until the 67th AGM (2027), after which B S R & Co. LLP will be recommended for a 5-year term. Financial results showed consolidated sales of ₹3,951 Crores (up 13%) and consolidated PAT of ₹430 Crores (up 23%) for FY2025-26.
The appointment of two promoter family members (Varun and Anvar Jay Varadaraj) to the board signals increased family involvement in operations, while the independent director appointment brings governance balance. Strong financial results and dividend recommendation are positive for shareholders.