Announcement under regulation 30 of SEBI (LODR) Regulations, 2015 - Appointment of Secretarial Auditor''s
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Loyal Equipments' board, at its September 3, 2025 meeting, approved several key items ahead of the 18th AGM on September 30, 2025. Three Independent Directors (Mr. Babubhai Patel, Mr. Girish Desai, Mr. Kalpesh Joshi) ceased upon completion of their tenure, and three new Independent Directors (Mr. Vikas Sharma, Mr. Pradeep Agarwal, Mr. Sharad Vyas) were appointed for 5-year terms. Mr. Alkesh Rameshchandra Patel was re-appointed as Managing Director for another 5 years, and his sister Mrs. Hema Maheshkumar Patel's appointment as Whole-Time Director was regularized for 5 years. The board recommended a Final Dividend of Rs. 1 per share (10%) on face value Rs. 10 for FY2024-25, with record date September 23, 2025. M/s MSV & Associates was appointed as Secretarial Auditor for 5 years (FY2025-26 to FY2029-30) and M/s J.M. Patel & Bros as Internal Auditor for FY2025-26. Board committees were re-constituted with the new independent directors.
Positive continuity for shareholders – the promoter-family leadership remains in place, governance is refreshed with three new independent directors replacing the outgoing ones, and a modest 10% dividend signals steady cash returns. No negative red flags, though the closely-held family board structure (MD and WTD are siblings) is worth noting.