Announcement under Regulation 30 (LODR) - Change in Directorate as PDF attached.
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The board fixed September 30, 2025 as the date for the 18th AGM and approved a Final Dividend of Rs. 1 per share (10% on face value of Rs. 10) for FY25, with September 23, 2025 as the record date. Three Independent Directors — Mr. Babubhai Patel, Mr. Girish Desai, and Mr. Kalpesh Joshi — ceased upon completion of their tenure, and three new Independent Directors (Mr. Vikas Sharma, Mr. Pradeep Kumar Agarwal, Mr. Sharad Vyas) were appointed for 5-year terms. Mr. Alkesh Rameshchandra Patel was re-appointed as Managing Director for another 5 years (till September 2030), and his sister Mrs. Hema Maheshkumar Patel's appointment as Whole-Time Director was regularised, reinforcing promoter family presence on the board. New Internal Auditor (M/s J.M. Patel & Bros) and Secretarial Auditor (M/s MSV & Associates, for FY26–FY30) were also appointed, and board committees were re-constituted accordingly.
The Rs. 1 per share dividend signals steady cash returns for shareholders. The complete turnover of three Independent Directors at once is a notable governance shift, though the appointments of three new IDs and ongoing CMD re-appointment suggest continuity rather than disruption.