Suryalakshmi Cotton Mills Limited has informed the Exchange regarding Change in Director(s) of the company.
SURYALAXMI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Directors approved the audited financial results for Q4 and FY 2025-26 with an unmodified audit opinion. No dividend was recommended on equity shares for the year. Sri Dhruv Vijai Singh, Independent Director, is completing his second and final term on 27th July 2026. The Board appointed Sri Venkata Phani Kiran Kumar Immaneni as an Additional Independent Director for a 5-year term starting 27th July 2026. He is a seasoned banking professional with 33 years of experience including roles in China/Hong Kong. Additionally, the company approved waiver of preference dividend, extension of redemption date for 5 lakh 10% preference shares to August 2029, and redemption of 2 lakh 5% preference shares worth Rs. 2 crores on 30th June 2026. All three auditors (Internal, Cost, and Tax) were re-appointed for FY 2026-27.
The replacement of an independent director with a banking professional with international experience is a routine governance update with neutral impact on the stock. The no-dividend decision and preference share adjustments reflect the company's cash conservation strategy.