Enclosing herewith Outcome of Board Meeting held on May 15, 2026 for Acquisition of stake in CleanMax Dhyuthi Private Limited.
WELSPUNLIV · price
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Welspun Living's Board Meeting on May 15, 2026 approved multiple items. Q4 FY26 revenue came in at ₹2,451 crore (up 7.7% QoQ but down 7.4% YoY), with full-year FY26 revenue at ₹9,468 crore, down 11.5% YoY. EBITDA margin recovered to 10.8% in Q4 from a trough of 7.7% in Q3. Net debt was sharply reduced to ₹775 crore, down 52% from ₹1,602 crore in March 2025. The Board approved a share buyback of up to 1.44 crore shares at ₹175 per share (total ₹252 crore), representing 1.50% of paid-up capital, with record date May 22, 2026. Promoter group indicated intention to participate. A dividend of 10% (Re. 0.10 per share) was recommended for FY26, subject to shareholder approval. Management saw leadership changes with COO Mr. Altaf Jiwani resigning effective May 31, 2026, succeeded by Mr. Keyur Parekh as Whole-time Director from June 1, 2026. Separately, the Board approved acquiring a 26% stake in CleanMax Dhyuthi Private Limited (CDPL) from Welspun Corp Limited for ₹760 Lakhs (cash, arm's length) — a related party transaction. CDPL is a renewable energy project in Gujarat that will serve as a captive power supplier to Welspun's Vapi factory, with completion targeted by August 31, 2026.
The buyback of ₹252 crore signals management confidence and will provide support to the stock. The 26% acquisition in renewable energy strengthens the company's sustainability infrastructure for its Vapi operations. Net debt reduction of over 50% strengthens the balance sheet. Leadership transition and dividend recommendation are positive governance signals.