Re-designation of Mr. Madhusudan Kela from Managing Director to Non-Executive Non Independent Director.
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MKVentures Capital Limited held a board meeting on May 28, 2026 approving multiple items. The company reported audited standalone FY2026 results with total income of Rs 1,987.15 Lakhs (down from Rs 2,752.07 Lakhs YoY) and profit after tax of Rs 1,118.06 Lakhs (up from Rs 937.70 Lakhs YoY). Key leadership changes include the appointment of Mr. Ajay Shah (former EY Senior Investment Banking Partner with 30 years experience) as Additional Director and proposed Managing Director & CEO pending shareholder approval. Mr. Madhusudan Kela has been re-designated from Managing Director to Non-Executive Non-Independent Director effective May 28, 2026. The board also declared an interim dividend of Rs 0.25 per equity share with record date June 5, 2026, and appointed M/s Mahesh Chandra & Associates as internal auditors for FY 2026-27.
The re-designation of the Managing Director and appointment of a new external CEO represents a significant governance change. The company's PAT improved despite lower revenue, and the interim dividend provides shareholder returns. Shareholders should monitor the postal ballot for shareholder approvals on the new CEO appointment.