HEG shareholders approve ₹3.40 dividend, reappoint Gulati at AGM
HEG Limited's 54th AGM concluded with shareholder approval for a ₹3.40 final dividend, the reappointment of Manish Gulati as Executive Director, and the continued tenure of Shekhar Agarwal as a Non-Executive Director despite attaining age 75. The meeting also ratified the remuneration for cost auditors N.D. Birla & Co. for FY27.
*this image is generated using AI for illustrative purposes only.
HEG Limited shareholders approved a final dividend of ₹3.40 per equity share for FY26 and reappointed Manish Gulati as Executive Director during the company’s 54th Annual General Meeting (AGM) held on July 29, 2026. The virtual meeting also secured regulatory approval for Non-Executive Director Shekhar Agarwal to continue his tenure beyond the age of 75, ensuring board stability amid ongoing restructuring efforts in its advanced materials segment.
The proceedings were conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs circulars and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The deemed venue was the company’s registered office in Mandideep, Madhya Pradesh. Statutory auditors SCV & Co LLP and secretarial auditor GSK & Associates oversaw the process, with Saket Sharma of GSK & Associates serving as the scrutinizer for the remote e-voting mechanism.
Key Resolutions Passed
Shareholders voted on five key resolutions covering ordinary and special business items. The voting window opened on July 25, 2026, and closed on July 28, 2026, prior to the live meeting.
| Resolution Item | Type | Status |
|---|---|---|
| Adoption of Audited Financial Statements for FY26 | Ordinary | Passed |
| Declaration of Final Dividend of ₹3.40 per share | Ordinary | Passed |
| Re-appointment of Manish Gulati as Executive Director | Ordinary | Passed |
| Continuation of Shekhar Agarwal as Director (attaining age 75) | Special | Passed |
| Ratification of Cost Auditors’ remuneration for FY27 | Ordinary | Passed |
Board Composition Updates
Manish Gulati, who retires by rotation under Section 152(6) of the Companies Act, 2013, offered himself for re-appointment. Gulati, aged 57, has been associated with HEG Limited for over 32 years, holding qualifications including an MBA from FMS Delhi University. He attended all five board meetings held during the year and holds 4,000 equity shares in the company. His remuneration for FY26 was ₹421.86 lakhs.
The special resolution addressed the tenure of Shekhar Agarwal, a Non-Executive Non-Independent Director. Under Regulation 17(1A) of the SEBI (LODR) Regulations, 2015, shareholder consent is required for directors who attain the age of 75 years. Agarwal, currently 73, will reach this milestone in FY28.
Historical Stock Returns for HEG
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.22% | +4.39% | +19.14% | +27.90% | +37.78% | +53.23% |
How will the approved ₹3.40 dividend per share impact HEG Limited's payout ratio and future capital allocation strategies for its advanced materials segment?
What specific restructuring initiatives is HEG pursuing in its advanced materials division, and how might board stability influence their execution timeline?
Given Manish Gulati's reappointment, what are his strategic priorities for driving growth and operational efficiency in the upcoming fiscal year?
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