Change in Directorate
Price
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Awaiting price reaction for this filing.
The Board of Directors of Lakshmi Electrical Control Systems Ltd held a meeting on June 5, 2025, approving several changes. Sri. Sudesh Koti Reddy was appointed as a Non-executive Independent Director for a 5-year term, and Sri. Vedhanth Senthilkumar was appointed as a Non-executive Non-Independent Director. Sri. Arjun Balu was recommended for re-appointment as Independent Director for a second 5-year term starting May 28, 2026. Sri. Sanjay Jayavarthanavelu, a Non-executive Non-Independent Director, will retire and not seek re-appointment, and the resulting vacancy will not be filled. The Cost Auditor and Internal Auditor were re-appointed for FY2025-26, and MOS & Associates LLP was recommended as Secretarial Auditor for five years (FY2025-26 to FY2030-31). The 44th AGM is set for August 25, 2025, with the record date for dividend and e-voting on August 18, 2025, and the previously recommended dividend of Rs.4 (40%) per equity share on Rs.10 face value is pending shareholder approval.
Routine board renewal with the notable addition of a promoter-family connected director (Sri. Vedhanth Senthilkumar, related to the CMD) and the non-filling of a board vacancy. Dividend confirmation at 40% provides steady income for shareholders, but the changes are unlikely to materially move the stock.