Board approves 5% dividend, CEO transition and new auditor appointments
MAMATA · price
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Mamata Machinery Limited board on July 6, 2026 approved a 5% dividend (Rs 0.5 per share) for FY26. Incumbent CEO Apurva N. Kane will superannuate on September 30, 2026 after 40 plus years of service. Mr. Rajashekar Venkat, with 27 plus years in capital equipment manufacturing across firms like Kennametal, Markem-Imaje, Mettler Toledo and Domino Printing, will take over as CEO from October 1, 2026. Board also appointed C. B. Modh and Co. as Cost Auditors for FY27 and Desai and Desai as Internal Auditors.
New external CEO with 27 years of multinational capital equipment experience likely to support growth. Planned succession minimises disruption. 5% dividend rewards shareholders.