Appointment of Mr. Shashvat Somany (DIN: 10058462) as an Additional Director in the category of Non-Executive Non-Independent Director of the Company w.e.f. 1st July, 2026, subject to approval of the Members of the Company
HINDWAREAP · price
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The Board approved appointment of Mr. Shashvat Somany as an Additional Director in the category of Non-Executive Non-Independent Director, effective July 1, 2026, subject to shareholder approval at the 9th AGM scheduled for August 18, 2026. The company also reported FY2026 results showing consolidated revenue of Rs 2,510 crore and a net loss of Rs 39.31 crore for the year. The appointment follows the Somany family's association with Hindware, as Sandip Somany serves as Chairman. No dividend was declared for FY2026. Additionally, Protiviti India was appointed as internal auditors for FY2026-27.
The appointment of a Somany family member to the board signals continuity of promoter involvement in governance. The ongoing losses highlight operational challenges in the consumer appliances segment, though the building products business remains profitable.