XT Global Infotech declares ₹0.05 interim dividend, sets AGM date
- XT Global Infotech declares ₹0.05 per share interim dividend for FY27
- Record date set for September 23, 2026; 38th AGM scheduled for September 29, 2026
- Board recommends re-appointment of C. Ramachandram & Co. as statutory auditors for five years
- New directors appointed include Jitesh Raghu Mullapudi and Venkata Madhusudhana Rao Paladugu
- Company grants 15,24,250 equity shares via ESOPs and RSUs to employees
*this image is generated using AI for illustrative purposes only.
XT Global Infotech declared an interim dividend of ₹0.05 per equity share for the financial year 2026-27. The Board of Directors approved the payout during its meeting held on September 5, 2026, via video conferencing.
Shareholders on record as of September 23, 2026, will be eligible for the dividend payment. The company will dispatch the funds on or before the statutory due dates.
Corporate Governance Updates
The Board also approved convening the 38th Annual General Meeting (AGM) on September 29, 2026, at 10:00 am through video conferencing or other audio-visual means. The meeting will consider the approval of the 38th Annual Report for FY25-26.
Board Composition Changes
The Board recommended several changes to its composition, subject to shareholder approval at the AGM:
- Re-appointment: Ms. Vuppuluri Sreedevi was recommended for re-appointment as a Director liable to retire by rotation and as Whole-time Director for five years.
- New Appointments: Mr. Jitesh Raghu Mullapudi, son of Managing Director Mr. Ramarao Atchuta Mullapudi, was recommended as a Non-Executive Non-Independent Director. Mr. Venkata Madhusudhana Rao Paladugu was recommended as an Independent Director for five years.
- Cessations: Mr. Jagannatha Prasad Malireddy and Mr. Venkata Appala Narasimha Raju Kalidindi will cease to be Directors upon completion of their tenures/terms.
Mr. Saibaba Karuturi, an existing Independent Director, was appointed as Chairperson effective from the conclusion of the AGM, succeeding Mr. Kalidindi.
Committee Reconstitution
Consequent to the board changes, the Board Committees were reconstituted:
| Committee | Chairperson | Members |
|---|---|---|
| Audit | Mr. Venkata Madhusudhana Rao Paladugu | Mr. Saibaba Karuturi, Ms. Vuppuluri Sreedevi |
| Nomination & Remuneration | Mr. Saibaba Karuturi | Mr. Venkata Madhusudhana Rao Paladugu, Mr. Jitesh Raghu Mullapudi |
| Stakeholders Relationship | Mr. Saibaba Karuturi | Ms. Vuppuluri Sreedevi, Mr. Jitesh Raghu Mullapudi |
Auditor and Employee Benefits
The Board recommended the re-appointment of M/s. C. Ramachandram & Co., Chartered Accountants, as Statutory Auditors for a second term of five years, from the conclusion of the 38th AGM until the 43rd AGM.
Additionally, the Board approved grants under the Employees Stock Benefit Scheme – 2020:
- 734,250 Employee Stock Options (ESOs)
- 790,000 Restricted Stock Units (RSUs)
These grants cover a total of 15,24,250 equity shares.
Historical Stock Returns for Xtglobal Infotech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.35% | +6.06% | -5.06% | -9.51% | -2.07% | 0.0% |
How might the appointment of Mr. Jitesh Raghu Mullapudi, the Managing Director's son, as a Non-Executive Director impact the company's corporate governance and succession planning?
What is the expected dilution effect on existing shareholders from the grant of 1,524,250 equity shares under the new ESOP and RSU schemes?
Will the re-appointment of C. Ramachandram & Co. for a second five-year term raise any concerns regarding auditor independence among institutional investors?
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