Board Approved Buyback

Buyback Premium Above 10pctCorporate Actions View source PDF

GANDHITUBE · price

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Price reaction · full curve 14 horizons · vs prior close

-14.4%1-day move

₹965.00

prior close

₹880.00

base price

After-mkt

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AI summary

Gandhi Special Tubes board approved a buyback of up to 8,68,100 equity shares (7.14% of total paid-up capital) at Rs. 900 per share for Rs. 78.12 crore. The company also reported strong FY26 results with revenue of Rs. 20,361.49 Lakhs and profit after tax of Rs. 6,836.43 Lakhs, up 10% and 16.5% YoY respectively. EPS for FY26 stood at Rs. 56.26 per share. Additionally, the board recommended a dividend of Rs. 15 per share (300% on face value of Rs. 5), with record date fixed for August 5, 2026. The buyback is subject to shareholder approval via a special resolution at the AGM.

Likely market impact

The buyback at Rs. 900 per share signals management confidence and likely represents a premium to current market price. Combined with the 300% dividend, this is positive for shareholders as it returns significant capital while potentially supporting the stock price.