S P Apparels has scheduled its 21st Annual General Meeting (AGM) for September 21, 2026, to approve a proposed 5:1 stock split and a recommended final dividend of ₹3 per equity share for FY26.

The company issued the notice on August 28, 2026. The Board of Directors recommended the dividend at its meeting held on August 11, 2026. The payout is subject to shareholder approval at the AGM. The record date for determining dividend entitlement is fixed as September 4, 2026.

Share Capital Subdivision

The Board proposed a special resolution to subdivide the face value of equity shares from ₹10 each to ₹2 each. This 5:1 split aims to enhance liquidity and attract small investors. The aggregate paid-up share capital will remain unchanged at ₹25.14 crore.

Consequently, the company seeks approval to alter Clause V of its Memorandum of Association to reflect the new authorized capital structure of 236.25 crore shares of ₹2 face value each.

Dividend and Tax Deduction at Source

The recommended dividend is ₹3 per equity share of face value ₹10. Shareholders on record as of September 4, 2026, will be eligible for the payment. Dividends will be paid electronically within 30 days to shareholders on record.

Pursuant to the Finance Act, 2020, dividend distribution tax has been abolished, and dividend income is taxable in the hands of shareholders. The company requests shareholders to furnish necessary documents or declarations to the Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited, on or before September 21, 2026, to enable appropriate Tax Deduction at Source (TDS) application.

Board Reappointment

Mrs. S. Latha (DIN: 00003388), Executive Director, retires by rotation and offers herself for reappointment. She holds 29.62 lakh equity shares and has served on the board since November 18, 2005. Her remuneration includes ₹6 lakh per month plus 1% commission on net profits.

Voting and Logistics

The meeting will be held via Video Conferencing (VC) or Other Audio Visual Means (OAVM) at 4:00 pm. The register of members will remain closed from September 15 to September 21, 2026. The cut-off date for voting rights is September 14, 2026.

Remote e-voting opens on September 18, 2026, at 9:00 am and closes on September 20, 2026, at 5:00 pm. Shareholders can vote through NSDL, CDSL, or the InstaVote platform.

S sp apparels Managing Director P. Sundararajan sold 5,00,000 equity shares through a market transaction on August 28, 2026. The sale valued at ₹46.25 crore reduced his stake from 49.88% to 48%.

The disposal was executed at a price of ₹925 per share. This transaction falls under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, requiring continual disclosure by promoters and key managerial personnel.

Transaction Details

What the Numbers Show

The transaction represents a significant reduction in promoter ownership, bringing the holding below the 50% threshold. The sale value of ₹46.25 crore indicates a substantial liquidity event for the director, executed entirely through open market mechanisms rather than off-market transfers or block deals.

No derivatives trading was reported alongside this equity disposal. The company secretary, K. Vinodhini, intimated the exchange on the same day as the transaction.