The Board Recommended the Appointment of M/s Mukesh M. Shah & Co., Chartered Accountants as a statutory auditor of the Company for a period of 5 years from the conclusion of 16th AGM to ....
HARSHA · price
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Harsha Engineers International Limited held its Board meeting on May 7, 2026, approving several key items. The company reported strong FY26 standalone results with revenue from operations of Rs 1,22,820 lakhs (up 12.7% from Rs 1,08,930 lakhs in FY25) and profit after tax of Rs 17,680 lakhs (vs Rs 3,536 lakhs in FY25), with basic EPS of Rs 19.42. The Board recommended a final dividend of Rs 1.5 per equity share (15%) for FY26, subject to shareholder approval at the 16th AGM scheduled for July 23, 2026. The term of existing statutory auditor M/s Pankaj R. Shah & Associates is completing at the 16th AGM, and the Board recommended appointing M/s Mukesh M. Shah & Co. as the new statutory auditor for 5 years. Additionally, the Board approved an Employee Stock Option Plan 2026 (ESOP 2026) with a pool of 18,00,000 options, and reappointed four independent directors - Mr. Ambar Patel, Mr. Kunal Shah, Dr. Bhushan Punani, and Mr. Ramakrishnan Kasinathan - for a second term of 5 years effective January 10, 2027.
Strong financial performance with significant profit growth and the introduction of ESOP scheme indicate positive momentum. The statutory auditor change is routine as the existing auditor's term is completing, and the dividend recommendation rewards shareholders. The reappointment of all four independent directors provides board stability.