Elgi Equipments Limited announced that its board of directors, at a meeting held on May 27, 2026, recommended a final dividend of Rs 2.70 per equity share for the financial year ended March 31, 2026. Each equity share has a face value of Re 1. The dividend recommendation, made in accordance with the company's dividend distribution policy, is subject to shareholder approval at the forthcoming annual general meeting.
The record date for determining shareholder entitlement for the dividend has been fixed as July 17, 2026. The dividend will be paid within 30 days from the date of declaration. The 66th AGM of the company is scheduled for August 14, 2026.
The board appointed Ms. Padmaja Alaganandan as an Additional Director, designated as a Non-Executive Independent Director, for a term of five years effective May 27, 2026, subject to shareholder approval. She has over 30 years of consulting and leadership experience, having worked across business and people strategy at PwC Consulting and Mercer Consulting.
The board also appointed Mr. Varun Jay Varadaraj as an Additional Director in the Non-Executive Non-Independent category, effective May 27, 2026. He is the son of Managing Director Mr. Jairam Varadraj and brother of Executive Director Mr. Anvar Jay Varadaraj. Mr. Varun Jay Varadaraj is an entrepreneur with a background in industrial go-to-market strategy and consumer marketing.
Mr. Anvar Jay Varadaraj was re-appointed as Executive Director for a period of five years from August 2, 2026 to August 1, 2031, subject to shareholder approval. He currently serves as the Chief Operating Officer of the company and has held multiple leadership roles across functions and geographies within Elgi since 2015.
The board meeting commenced at 1:30 PM and concluded at 4:00 PM on May 27, 2026.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.