Gandhi Special Tubes Limited has informed the Exchange regarding Appointment of as Non- Executive Director of the company w.e.f. Jun 01, 2026.
GANDHITUBE · price
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Gandhi Special Tubes Limited reported strong FY2026 results with total income of Rs. 20,361.49 lakhs (up 10.4% YoY) and profit after tax of Rs. 6,836.43 lakhs (up 16.5% YoY). The board recommended a dividend of Rs. 15 per share (300% on face value of Rs. 5) payable after shareholder approval at the AGM scheduled for August 12, 2026. The company announced a buyback of up to 8,68,100 equity shares (7.14% of paid-up capital) at Rs. 900 per share for an aggregate amount not exceeding Rs. 78.12 crore, subject to shareholder approval. Mr. Manoj Bhupatrai Gandhi has been appointed as Additional Non-Executive Non-Independent Director effective June 1, 2026, subject to shareholder approval. Mr. Rohan Rana was appointed as General Manager-Plant Head effective June 1, 2026. Promoters holding 73.53% stake have indicated intention to participate in the buyback.
Strong financial performance with 16.5% profit growth and a shareholder-friendly combination of 300% dividend and buyback offer signals management confidence. The buyback at Rs. 900 per share represents a significant premium, likely providing positive support to the stock price. The appointment of an experienced industry veteran to the board may be viewed as a governance positive.