Mangalam Worldwide Limited Announces Dividend, Stock Split Approval, and New Statutory Auditor Appointment
Mangalam Worldwide Limited has announced several key decisions following its Board of Directors meeting held on Friday, June 26, 2026. The company confirmed the date for its upcoming Annual General Meeting (AGM), detailed a final dividend, and approved the stock split of its equity shares. Furthermore, the Board recommended the appointment of a new Statutory Auditor.The company’s 30th Annual General Meeting (AGM) is scheduled to be held on Thursday, July 30, 2026, at 2:00 P.M. (IST). The meeting will utilize Video Conferencing or Other Audio-Visual Means.
Dividend and Stock Split Details
The Board also finalized the details concerning the final dividend for the financial year ended March 31, 2026. The record date for shareholders is fixed as Friday, July 17, 2026, with a final dividend of Rs. 0.30 per equity share (which has a face value of Rs. 10/- each).Separately, the company confirmed that its shareholders had approved through Postal Ballot the sub-division of existing equity shares, changing the face value from ₹10 to Re. 1. In the event that this stock split is completed before the dividend payment, the aggregate dividend entitlement for every shareholder will remain unchanged.
The remote e-voting period related to these matters is set to commence on Monday, July 27, 2026, at 9:00 AM and conclude on Wednesday, July 29, 2026, at 5:00 PM. The cut off date for remote e-voting is Thursday, July 23, 2026.
Governance and Financial Decisions
The meeting saw the recommendation of M/s N. K. Aswani & Co., Chartered Accountants (Firm Registration No. 100738W) as the Statutory Auditor. This appointment, subject to shareholder approval at the upcoming AGM, is intended for a term of five consecutive years. The new auditors are set to hold office from the conclusion of the 30th AGM in 2026 until the conclusion of the 35th AGM in 2031, replacing M/s Keyur Shah & Co., Chartered Accountants.The details regarding the appointment and the background of the auditing firm are presented below:
| Particulars | Details |
|---|---|
| Reason for Change | The Board recommended M/s N. K. Aswani & Co. as Statutory Auditor. They will replace M/s Keyur Shah & Co., Chartered Accountants. |
| Term of Appointment | The new auditors are proposed for a five consecutive year term, starting from the conclusion of the 30th AGM in 2026 until the 35th AGM in 2031. |
| Auditor Profile | M/s N K Aswani & Co., based in Ahmedabad, has 44 years of experience and specializes in financial services, statutory audits, and tax matters. Their firm is peer reviewed by the Council of the Institute of Chartered Accountants of India. |
In addition to governance decisions, the Board provided enabling resolutions for two other major corporate actions:
- Debt Conversion: A resolution was passed allowing the conversion of outstanding secured or unsecured loans into equity shares of the Company, pending shareholder approval and necessary regulatory clearances.
- Security Modification: The company will modify the security structure and substitute secured assets in its existing NonConvertible Debentures (ISIN: INE0JYY07018), subject to required consents and approvals.
The Board meeting commenced at 2:00 p.m. and concluded at 2:40 p.m.
MWL Stock Price Movement
On Thursday, shares of Mangalam Worldwide Limited gained 1.16% to close at ₹371.05 after the stock climbed by ₹4.25 from its previous day's closing price. The equity maintained strong trading activity, with the security being traded across 37,440 shares and seeing a low of ₹367.2 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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