Please find enclosed the outcome of Board Meeting.
USHAMART · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Usha Martin Ltd's Board meeting on 26th May 2026 approved multiple changes. The statutory auditors are being changed from S R Batliboi & Co. LLP to MSKA & Associates LLP for a 5-year term from the 40th to 45th AGM. Two Independent Directors, Mr. Venkatachalam Ramakrishna Iyer and Mr. Sethurathnam Ravi, are being re-appointed for another 5-year term each effective November 2026. Three new Additional Directors (Non-Executive, Non-Independent) were appointed: Ms. Shreya Jhawar, Mr. Dimitri Bracco Gartner, and Mr. Sabyasachi Majumder, all effective 26th May 2026. All appointments/re-appointments are subject to shareholder approval where applicable. The board meeting lasted just 36 minutes.
The appointment of three new non-independent directors including the MD's daughter signals potential consolidation of promoter influence on the board. The auditor change is routine. No immediate material impact on stock price expected.