Retirement and Appointment of Mr. L Ramkumar and Mr. K Ilango as Non - Executive Independent Director of the Company
SHANTIGEAR · price
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Shanthi Gears Ltd's board meeting on 5th May 2026 approved multiple outcomes. Mr. L Ramkumar retired as Non-Executive Independent Director upon completion of his term on 6th May 2026. The Board appointed Mr. K Ilango as Additional Director and Independent Director for 5 years (subject to shareholder approval). Separately, Mr. Suresh P L tendered resignation as Head - Technology, effective 13th June 2026, to pursue opportunities outside the company. Financially, FY26 revenue fell 14% to ₹518.72 Crores with PBT down 21% to ₹102.70 Crores due to lower order inflow in H1. However, Q4 saw highest-ever order booking of ₹178 Crores with unexecuted order book at ₹349 Crores. Board recommended final dividend of ₹2 per share, making total dividend ₹5 per share for FY26.
The replacement of independent director maintains board composition, though Mr. Suresh P L's departure as Head - Technology represents a key talent loss in the technology function. Strong order book momentum (₹349 Crores) and 39% ROIC are positives despite revenue decline.