Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Appointment of Internal Auditor.
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Loyal Equipments' board, at its September 3, 2025 meeting, fixed the 18th AGM for September 30, 2025 via video conferencing 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. The board appointed M/s J.M. Patel & Bros as Internal Auditor for FY26 and M/s MSV & Associates as Secretarial Auditor for five years (FY26–FY30). 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 Agarwal, Mr. Sharad Vyas) were appointed for five-year terms. Mr. Alkesh Patel was re-appointed as Managing Director for five years, and Mrs. Hema Patel (the MD's sister) was regularised as Whole-Time Director. Board committees were reconstituted accordingly.
Shareholders get a modest 10% final dividend, and the board has been refreshed with three new independent directors replacing three who completed their tenure. The MD's re-appointment and family members continuing on the board maintain promoter control, with no major governance red flags.