Suryalakshmi Cotton Mills Limited has informed the Exchange regarding Appointment of Appointment of I.V. Phani Kiran Kumar as Independent Director of the company w.e.f. July 27, 2026.
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Suryalakshmi Cotton Mills held its Board meeting on May 25, 2026, approving several items including audited Q4 and FY 2025-26 financial results with unmodified opinion from statutory auditors. The company did not recommend any dividend on equity shares. Sri Dhruv Vijai Singh, Independent Director, completed his second term on July 27, 2026. The board appointed Sri Venkata Phani Kiran Kumar Immaneni as an Additional Director (Non-Executive Independent Director) for 5 years starting July 27, 2026. He brings 33 years of banking experience including 15 years in China/Hong Kong. Additionally, the company extended redemption of 5 lakh 10% Cumulative Preference Shares to August 17, 2029, and redeemed 2 lakh 5% Non-Cumulative Preference Shares worth Rs 2 crore on June 30, 2026. No preference dividend was declared for FY 2025-26.
The appointment of a new independent director with international banking expertise could strengthen board governance and provide strategic oversight. The preference share redemption extension indicates the company is managing its cash flow carefully. The absence of equity dividend may disappoint some income-focused investors.