Announcement under Regulation 30(LODR)- Change in the Management as PDF attached.
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Loyal Equipments' board, at its September 3, 2025 meeting, fixed the 18th AGM for September 30, 2025 and recommended a Final Dividend of Rs. 1 per share (10% on face value of Rs. 10) for FY25, with record date September 23, 2025. Three Independent Directors — Mr. Babubhai Bhulabhai Patel, Mr. Girish Nathubhai Desai and Mr. Kalpesh Lalitchandra Joshi — ceased on completion of their tenure, and three new Independent Directors (Mr. Vikas Sharma, Mr. Pradeep Kumar Agarwal and Mr. Sharad Vyas) were appointed for 5-year terms. Chairman & Managing Director Mr. Alkesh Rameshchandra Patel was re-appointed for another 5 years, while his sister Mrs. Hema Maheshkumar Patel's appointment as Whole-Time Director was regularised. The board also appointed M/s J.M. Patel & Bros as Internal Auditor for FY26 and M/s MSV & Associates as Secretarial Auditor for a five-year term (FY26–FY30), and re-constituted all key committees.
Continuity at the top is preserved with the CMD's re-appointment, and the 10% dividend offers a modest return to shareholders. However, three of three Independent Directors exited at once and were replaced by first-time IDs, along with a promoter-family member (CMD's sister) being made Whole-Time Director, which may attract governance scrutiny from investors who track board independence closely.