Announcement under Regulations 30 of SEBI (LODR) Regulations, 2015- Cessation of Independent Directors.
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Loyal Equipments' board, which met on September 3, 2025, approved a wide set of items in one go. Three independent directors — Mr. Babubhai Bhulabhai Patel, Mr. Girish Nathubhai Desai, and Mr. Kalpesh Lalitchandra Joshi — ceased on the board after completing their tenure. To fill the gaps, three new independent directors — Mr. Vikas Sharma, Mr. Pradeep Kumar Agarwal, and Mr. Sharad Vyas — were appointed for a 5-year term starting September 3, 2025. Managing Director Mr. Alkesh Rameshchandra Patel was re-appointed for another 5 years (till September 2, 2030), and Mrs. Hema Maheshkumar Patel's appointment as Whole-Time Director was regularised. The board recommended a final dividend of Rs. 1 per share (10%) on a face value of Rs. 10 for FY25, with September 23, 2025 as the record date. The 18th AGM is set for September 30, 2025 via video conferencing. A new internal auditor (M/s J.M. Patel & Bros) and secretarial auditor (M/s MSV & Associates, for 5 years) were also appointed, and all board committees were reconstituted.
For shareholders, the 10% final dividend is a tangible return, while the simultaneous exit and entry of 3 independent directors is a routine board reconstitution around AGM timing and should not meaningfully affect the stock. The MD re-appointment and the family-linked directors on the board continue the existing promoter-driven leadership structure.