Apollo Pipes has announced several key decisions following its board meeting held on May 7, 2026. The company approved the audited standalone and consolidated financial results for the quarter and financial year ending March 31, 2026. Additionally, the board has recommended a final dividend of ₹0.70 per equity share for the financial year, which is 7% on the face value of ₹10 per share. This dividend will be paid to shareholders within 30 days of declaration.
In a significant leadership change, Mr. Sanjay Gupta has been appointed as the Additional Director and Chairman of the Board, effective May 8, 2026. Mr. Gupta, who has over 30 years of experience in the steel industry, has previously served in various capacities within the company and has been instrumental in its growth. Mr. Sameer Gupta will step down from the chairman position but will continue as the Managing Director.
The board also noted the resignation of Mr. Ashok Gupta, a Non-Executive Non-Independent Director, effective May 8, 2026. His departure means he will also cease to be a member of several committees, including the Nomination & Remuneration Committee.
Furthermore, Apollo Pipes has introduced the ‘Apollo Pipes Limited Stock Appreciation Rights Scheme–2026’, an equity-based benefit scheme for eligible employees and directors, excluding independent directors. This scheme, subject to shareholder approval, includes a total pool of 25,00,000 SAR units, convertible into a maximum of 25,00,000 equity shares.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).