GMM Pfaudler Limited, a leading manufacturer of glass-lined equipment, has made significant announcements regarding its dividend payout and board composition. The company's Board of Directors has approved key financial and organizational decisions that reflect recent changes in its corporate structure.

Dividend Declaration

The Board has approved a final dividend of Rs. 2.00 per equity share for the financial year ended March 31, 2021. This dividend will be distributed across 14,617,500 shares, amounting to a total payout of Rs. 29,235,000.00. Shareholders will welcome this decision as it represents a tangible return on their investment.

Changes in Board Composition

Following GMM Pfaudler's acquisition of a majority stake in the Pfaudler Group in February 2021, the company has announced several changes to its Board of Directors:

• Resignations: Two Non-Executive Directors, Alexander Poempner and Thomas Kehl, have stepped down from the Board effective May 28, 2021. Both Poempner and Kehl now serve as employees in subsidiaries of the Pfaudler Group.

• New Appointment: To fill one of the vacancies, Malte Woweries has been appointed as a Non-Executive Director. Woweries will represent Pfaudler Inc. on the Board, ensuring continuity in the representation of the Pfaudler Group's interests.

Corporate Governance Updates

The Board has taken several steps to enhance its corporate governance framework:

1. Articles of Association: Revisions have been approved to align the company's articles of association with the provisions of the Companies Act, particularly concerning director remuneration.

2. Committee Restructuring: In light of the changes in Board composition, GMM Pfaudler has reconstituted various committees, including:

   • Audit Committee
   • Stakeholders Relationship Committee
   • Risk Management Committee
   • Nomination and Remuneration Committee
   • Corporate Social Responsibility Committee

These changes reflect the company's commitment to maintaining robust corporate governance practices and ensuring appropriate oversight across key areas of operation.

The restructuring of the Board and its committees, along with the dividend announcement, demonstrates GMM Pfaudler's focus on shareholder value and effective corporate governance following its strategic acquisition of the Pfaudler Group. These moves are likely to be viewed positively by investors and stakeholders, as they indicate the company's dedication to transparency and shareholder returns.

GMM Pfaudler , a leading manufacturer of glass-lined equipment, has made several significant announcements, including a bonus share issue, leadership changes, and its financial results for the fiscal year 2021-22.

Bonus Share Issue and Capital Restructuring

The company's board has approved a bonus issue of equity shares in a 2:1 ratio, subject to shareholder approval. This means shareholders will receive two additional shares for every one share held. To accommodate this, GMM Pfaudler plans to increase its authorized share capital from INR 5.00 crore to INR 10.00 crore.

The record date for the bonus issue has been set as July 12, 2022, with the new shares expected to be credited to shareholders' accounts by July 23, 2022.

Leadership Changes

In a significant move, the board has appointed Prakash Apte as an Independent Director for a five-year term. Apte is slated to succeed Dr. S. Sivaram as the Chairman of the company following the latter's retirement at the upcoming 59th Annual General Meeting (AGM).

Financial Performance FY 2021-22

GMM Pfaudler reported robust financial results for the year ended March 31, 2022:

The company's consolidated revenue showcases its strong global presence and diversified operations.

Dividend Declaration

Rewarding its shareholders, the board has recommended a final dividend of INR 3.00 per equity share (pre-bonus) for the financial year 2021-22.

These announcements reflect GMM Pfaudler's commitment to enhancing shareholder value through capital restructuring, ensuring strong corporate governance with leadership transitions, and maintaining robust financial performance. The bonus issue is likely to improve the stock's liquidity and make it more accessible to a broader range of investors.