Havells India Limited has informed the Exchange about Resignation of Director/KMP/SMP
HAVELLS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.7 pts less than Nifty Midcap 150 and 5.6 pts less than its Consumer Electronics peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Havells India held its Board meeting on 22nd April 2026 and approved the audited standalone and consolidated financial results for Q4 and FY ended 31st March 2026, with an unmodified opinion from auditors. The Board recommended a Final Dividend of Rs. 6 per share (600%), adding to the earlier Interim Dividend of Rs. 4 per share, bringing the total dividend for FY26 to Rs. 10 per share. On the governance front, Shri Vivek Mehra stepped down as Independent Director citing health concerns and inability to attend physical meetings in NCR due to pollution-related breathing issues. He also ceased to be Chairman of the CSR & ESG Committee. Simultaneously, the Board appointed Shri Varun Berry (former MD & CEO of Britannia) as a new Independent Director, and re-appointed five existing directors including Namrata Kaul, Ashish Bharatram, Puneet Bhatia, and TV Mohandas Pai for second terms. Price Waterhouse & Co was reappointed as statutory auditors for a second five-year term.
The resignation of an Independent Director may raise minor governance questions, though the company has immediately appointed a qualified replacement in Varun Berry, which should limit any negative market reaction. The strong dividend payout signals management confidence in the company's financial health.