Board fixed Record Date
Price
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On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 2.8 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Lakshmi Electrical Control Systems reported FY2026 revenue of Rs 23,758 lakhs, up 11.9% from Rs 21,231 lakhs in FY2025. However, profit after tax dropped significantly to Rs 118.70 lakhs from Rs 347.23 lakhs in the prior year—a decline of about 66%. The company recommended a dividend of Rs 3 per share (30% on face value) with record date July 24, 2026. The Board also approved appointment of new statutory auditors NRD Associates (replacing Subbachar & Srinivasan after completing two 5-year terms) and re-appointed cost and internal auditors. An exceptional item of Rs 1.74 lakhs was recorded due to new labour code implementation. The Plastics segment reported a loss of Rs 271.97 lakhs for the year.
The sharp decline in net profit despite revenue growth signals margin compression and operational challenges, particularly in the Plastics segment. Shareholders may see the dividend as a positive signal, but the profitability decline could weigh on the stock price. The auditor change appears procedural (completion of statutory term) rather than a concern.