Mamata Machinery Approves 5% Dividend, Announces CEO Succession and New Auditor Appointments

<h1>Mamata Machinery Approves 5% Dividend, Announces CEO Succession and New Auditor Appointments</h1>

Mamata Machinery Limited has announced several key outcomes from its Board of Directors meeting held on July 06, 2026, including the recommendation of a dividend, the retirement of Chief Executive Officer (CEO), and the appointment of new leadership for crucial roles.

The company approved recommending a dividend of 5%, equivalent to Rs. 0.5 per share, payable on equity shares with a face value of Rs. 10/-. This dividend is designated for the financial year ended March 31, 2026, and requires approval by members at the upcoming Annual General Meeting.

Leadership Transition and Appointments​

The Board took note of the retirement of Mr. Apurva N. Kane, Chief Executive Officer (Key Managerial Personnel). Mr. Kane, who had rendered services to Mamata Machinery Limited for over four decades, will be superannuating from his post with effect from the closure of business hours on September 30, 2026.

In a related development, Mr. Rajashekar Venkat has been appointed as the new Chief Executive Officer (CEO) of the Company and will assume this role starting October 01, 2026. Mr. Venkat is described as a seasoned business leader with over 27 years of experience in the capital equipment manufacturing industry. His expertise spans packaging machinery, industrial machinery, pharmaceutical machinery, printing technologies, and analytical instruments. Previously, he held senior leadership positions at multinational organizations such as Kennametal, Markem-Imaje, Mettler Toledo, and Domino Printing, where he drove strategic growth and market expansion across Asia and the Middle East & North Africa (MENA) region. He is confirmed not to be related to any existing Director of the Company.

Appointment of Auditors​

The Board also concluded critical appointments concerning the company’s financial oversight. M/s. C. B. Modh & Co., Cost & Management Accountants, have been appointed as the Cost Auditors for Mamata Machinery Limited for the financial year 2026-27. The remuneration payable to the firm will be presented before shareholders for ratification at the subsequent Annual General Meeting. Additionally, M/s. Desai & Desai Chartered Accountants were appointed as the Internal Auditors of the Company.

MAMATA Stock Price Movement​

Shares of Mamata Machinery Limited slipped by 2.73% today after market close, eventually setting at ₹396.15 following a decline from its previous session's closing price. The equity traded throughout the day across a wide range, peaking at ₹414.65 before touching a low of ₹394.35.