Ramkrishna Forgings Limited has informed the Exchange regarding Cessation of Mr Partha Sarathi Bhattacharyya as Non- Executive Independent Director of the company w.e.f. May 21, 2026 on account of completion of his 2nd term as an Independent Director of the Company.
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Ramkrishna Forgings Limited held a Board Meeting on 15th May 2026 approving several items. The company declared its audited financial results for Q4 and FY ended 31st March 2026 with an unmodified opinion from auditors S.R. Batliboi & Co. LLP and S.K. Naredi & Co. LLP. A 1st Interim Dividend of Re. 1/- per equity share (face value Rs. 2/-) was declared for FY 2025-26, payable within 30 days with Record Date fixed for 8th May 2026. The company allotted 1,64,413 equity shares at Rs. 556/- per share to the Employee Welfare Trust under the ESOP Scheme 2023, increasing paid-up capital to 18,18,35,017 shares. Two Independent Directors - Mr. Sandipan Chakravortty and Mr. Partha Sarathi Bhattacharyya - will cease from close of business on 20th May 2026 upon completion of their 2nd term. All Board Committees were reconstituted accordingly. Mr. Naresh Jalan was re-appointed as Managing Director for 3 years from 5th November 2026, subject to shareholder approval at the 44th AGM scheduled for 29th August 2026.
The dual resignation of independent directors represents a governance shift requiring board reconstitution, though the routine nature (term completion) limits negative impact. The dividend declaration and strong audit opinion are positive signals for shareholders. The ESOP allotment creates minor equity dilution.