In connection with above mentioned subject matter, please note the outcome of the meeting of Board of Directors of the Company held on May 05, 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board approved audited standalone financials for FY ended March 2026. Net revenue from operations was ₹17,191.82 lakhs (down from ₹18,300.59 lakhs in prior year), with other income of ₹1,108.77 lakhs and profit after tax of ₹1,871.94 lakhs (vs ₹1,124.57 lakhs in FY2024-25). The Directors recommended a final dividend of ₹12.50 per equity share, subject to shareholder approval at the AGM on August 26, 2026. Related party transactions with ultimate holding company (Morgan Advanced Materials plc), holding company (Foseco India Limited), and fellow subsidiaries totaling ₹3,739 lakhs for the year were ratified. Deloitte Haskins & Sells LLP issued an unmodified audit opinion. Exceptional items include an impairment loss of ₹130.62 lakhs on a suspended project written off, partially offset by reversal of gratuity provision of ₹216.37 lakhs due to regulatory changes.
Revenue declined about 6% year-on-year, but strong PAT growth of over 66% indicates improved operational efficiency and margins. The clean audit with unmodified opinion and dividend declaration are positive signals for shareholders. The company completed change of control in November 2025 when Vesuvius Group acquired 75.77% stake.