Veedol Corporation Limited has informed the Exchange regarding Appointment of Mr. Rajendra Nath Ghosal as Managing Director of the company w.e.f. June 01, 2026.
VEEDOL · price
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Veedol Corporation's board meeting on May 20, 2026 approved audited financial results for FY2026, reporting standalone net profit of Rs. 135.16 crore (up 8.2% YoY) and consolidated net profit of Rs. 191.62 crore (up 13.6% YoY). The board declared a final dividend of 1100% (Rs. 22 per share), absorbing Rs. 38.33 crores, subject to shareholder approval at the 103rd AGM on August 24, 2026. In a key leadership change, Mr. Arijit Basu will resign as Managing Director with effect from May 31, 2026, and Mr. Rajendra Nath Ghosal (former Managing Director) has been reappointed as Managing Director from June 1, 2026 for a term until March 31, 2027. Mr. Mandar Ghatnekar, Head Marketing, also resigned effective May 31, 2026.
The reappointment of a former Managing Director ensures leadership continuity amid the CEO transition. Strong financial performance with improving profitability and a generous dividend payout signal company health, though the dual KMP resignations may raise short-term governance concerns.