Appointment of Sri. Gautam Damodar Sawang as an Additional Director ( Designated as Non Executive Independent Director)
SURYALA · price
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The Board of Suryalata Spinning Mills approved the appointment of Sri. Gautam Damodar Sawang as an Additional Director designated as Non-Executive Independent Director for a term of 5 years effective May 25, 2026, subject to shareholder approval. Sawang is a retired IPS officer who served as Director General of Police of Andhra Pradesh (2019-2022) and later as Chairman of AP State Public Service Commission (2022-2024). The company also reported strong financial results for FY 2025-26 with standalone profit after tax of Rs. 2,894 lakhs (up 195% from Rs. 982 lakhs), and consolidated profit after tax of Rs. 3,546 lakhs. Consolidated EPS improved to Rs. 83.10 from Rs. 36.03. The board recommended a 20% dividend (Rs. 2 per share) for non-promoter shareholders and reappointed Brahmayya & Co as internal auditor and Aruna Prasad & Co as cost auditor for FY 2026-27.
The appointment of a former police chief with extensive governance and compliance experience strengthens board independence and could improve investor confidence. The company showed exceptional profit growth in FY 2025-26, which is positive for shareholders despite marginal revenue decline.