Universal Cables Limited has informed the Exchange regarding Cessation of Shri Bachh Raj Nahar as Non- Executive Independent Director of the company. The Board of Directors of the Company at its Meeting held on 23rd May, 2026 has inter alia, considered and taken note that present term of Shri Bachh Raj Nahar (DIN:00049895) Non-Executive Independent Director shall stand curtailed and he shall cease to be a Director of the Company at the close of business hours on 13th June, 2026 in compliance with Regulation 17(1A) of the Listing Regulations.
UNIVCABLES · price
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Shri Bachh Raj Nahar, Non-Executive Independent Director, will cease to be a Director at close of business on 13th June 2026 upon attaining age 75 on 14th June. A Special Resolution for continuation of his appointment was not passed with requisite majority at the time of appointment, making this mandatory under Regulation 17(1A) of SEBI Listing Regulations. The Board meeting on 23rd May 2026 also approved audited FY2026 results showing standalone profit after tax of Rs. 96.53 crore (up 68.5% YoY) and consolidated PAT of Rs. 163.11 crore, recommended dividend of Rs. 4.50 per share (45%), approved Rs. 73 crore technological upgradation of EHV Cable facility at Satna, appointed Ajay Kumar Sharma as Company Secretary and KMP, and authorized raising of NCDs up to Rs. 200 crore.
The director's exit is a routine governance compliance matter triggered by SEBI's age limit for independent directors. The company continues to demonstrate strong financial performance with robust profit growth and maintains shareholder return through dividend.