Landmark Cars declares ₹1.50 dividend; institutions oppose commission
- Landmark Cars declared a final dividend of ₹1.50 per share for FY26
- Public institutions voted 80.20% against payment of commission to Non-Executive Directors
- All eight AGM resolutions passed with requisite majority despite institutional dissent on commission
- Voting results disclosed pursuant to Regulation 44(3) of SEBI LODR Regulations
*this image is generated using AI for illustrative purposes only.
Landmark Cars declared a final dividend of ₹1.50 per equity share for FY26 during its 20th Annual General Meeting held on September 24, 2026. The payout represents a 30% return on the face value of ₹5 per share.
The meeting was conducted via video conferencing in compliance with SEBI and MCA guidelines. Members approved the adoption of both standalone and consolidated audited financial statements for the fiscal year ended March 31, 2026. The proceedings commenced at 3:00 pm and concluded at 3:25 pm.
Board appointments and reappointments
Shareholders passed several resolutions regarding the composition of the Board of Directors. Mr. Paras Somani was reappointed as a director following his retirement by rotation. Additionally, the company approved the reappointment of two independent directors and the appointment of one new independent director.
| Resolution | Details | Type | Result |
|---|---|---|---|
| Reappointment | Mr. Manish Chokhani as Independent Director | Special | Passed |
| Reappointment | Mr. Gautam Trivedi as Independent Director | Special | Passed |
| Appointment | Ms. Rita Teatota as Independent Director | Special | Passed |
| Commission | Payment to Non-executive Directors | Special | Passed |
Voting and attendance details
A total of 52 members, including authorized representatives, attended the meeting through video conferencing. The facility for appointing proxies was not available due to the virtual format. Remote e-voting was facilitated by MUFG Intime India Pvt Ltd (formerly Link Intime India Pvt Ltd) from September 21 to September 23, 2026.
Seven directors attended the meeting, including the chairpersons of the Audit, Stakeholders Relationship, Nomination and Remuneration, and Risk Management Committees. Independent Director Ms. Sucheta Shah was absent due to personal exigency. The Statutory Auditors, Secretarial Auditors, and Scrutinizers were also present.
Regulatory compliance
The company confirmed that voting results will be declared separately on its website and disseminated to stock exchanges. All resolutions set forth in the notice are deemed passed subject to requisite majority. The Company Secretary, Amol Arvind Raje, signed off on the proceedings digitally.
What the numbers show
While all eight resolutions passed with the requisite majority, a significant divergence emerged in the voting pattern for the payment of commission to Non-Executive Directors. Public institutions cast 80.20% of their votes against this specific resolution, contrasting sharply with the near-unanimous support (99.99%+) seen for other board appointments and financial statement adoptions. Despite this institutional dissent, the resolution passed with an overall 79.93% in favour, driven by promoter group support and retail investor approval.
Historical Stock Returns for Landmark Cars
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.40% | -5.06% | -6.42% | +7.57% | -29.03% | -0.39% |
How might the significant institutional dissent against the non-executive director commission impact Landmark Cars' future ESG ratings and investor relations?
What strategic changes can investors expect from the newly appointed Independent Director, Ms. Rita Teatota, regarding the company's governance framework?
Will the 30% dividend payout signal a shift in Landmark Cars' capital allocation strategy toward higher shareholder returns versus reinvestment for growth?
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