Apollo Pipes recommends Rs 0.70 dividend and appoints Sanjay Gupta as chairman

Kinjal — Thu, 07 May 2026 09:55:34 +0000

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).

Optiemus Electronics to manufacture 3 million Ai+ Smartphones in India

Business Desk — Thu, 12 Mar 2026 04:53:17 +0000

Optiemus Electronics Limited (OEL) has entered into a significant manufacturing agreement with Ai+ Smartphone to produce mobile phones and other smart devices in India.

Under the agreement, Ai+ Smartphone and OEL will invest approximately ₹125 crore over five years, creating around 1,200 jobs. The production, set to commence in April 2026, will occur at OEL’s facility in Noida, with plans to manufacture about 3 million smartphones. The collaboration also includes the production of tablets, IoT devices, and advanced wearables, supporting Ai+ Smartphone’s broader product portfolio.

Ai+ Smartphone devices will operate on NxtQuantum OS, an Indian sovereign mobile operating system designed for transparency and compliance with local data laws. Madhav Sheth, CEO of Ai+ Smartphone, emphasised the importance of building a quality and sovereign Indian brand, highlighting the partnership as a step towards creating more value domestically.

Ashok Gupta, Director of Optiemus Electronics Limited, expressed enthusiasm for the collaboration, noting the potential for strengthening domestic manufacturing and future export growth. The agreement aims to bolster Ai+ Smartphone’s ability to expand its India-first portfolio while maintaining quality and supply chain control.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

Ashok Gupta | Business Upturn

Apollo Pipes recommends Rs 0.70 dividend and appoints Sanjay Gupta as chairman

Optiemus Electronics to manufacture 3 million Ai+ Smartphones in India