Morarka Finance Announces Dividend Recommendation, Board Changes, and 41st AGM Details
Morarka Finance Ltd announced key corporate developments following its Board of Directors meeting held on Thursday, April 23, 2026. During the meeting, the Board adopted the company's audited financial results and recommended a dividend while also noting changes in key management personnel and the board's committee structure.Financial Results and Dividend Recommendation
The Board of Directors formally adopted the Audited Standalone Financial Results for the quarter and year ended March 31, 2026, along with the Auditor's Report, which provided an Unmodified Opinion.Regarding shareholder returns, the Board recommended a dividend of Rs. 1.5/- per Equity share, which has a face value of Rs. 10/- each. This dividend represents 15% of the face value. The dividend remains subject to the approval of the members at the upcoming 41st Annual General Meeting (AGM). If approved, it would be payable to shareholders whose names appear in the register of members on the Record date of Wednesday, July 8, 2026.
Governance and AGM Schedule
The 41st Annual General Meeting (AGM) is scheduled for Wednesday, July 15, 2026, at 12:00 noon, to be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM). Shareholders should note that the Register of Members and the Share Transfer Books of the Company will be closed from Thursday, July 9, 2026, to Wednesday, July 15, 2026, inclusive.Additionally, the Board noted the resignation of Ms. Kalluri Savitha Rao, who stepped down from her role as Non-Executive Director effective April 13, 2026, citing personal and professional priorities.
Key Appointments and Leadership Transition
The Board approved the appointment of Mr. Satyaprakash Maheshwari as the Internal Auditor of the Company for the financial year 2026-27. Mr. Maheshwari, who brings over 20 years of experience in audit, accounts, and taxation, is set to serve for the full financial year.In a significant leadership transition, the Board approved the appointment of Mr. Pranay G. Morarka (DIN: 03272263) as Managing Director (Additional Director) of the Company. This appointment is effective for a term of five (5) consecutive years, running from April 24, 2026, to April 23, 2031, and is contingent upon shareholder approval at the 41st AGM.
The Board confirmed that Mr. Pranay G. Morarka, who has been associated with the Company as Chief Executive Officer (CEO) since 2014, will cease to be the CEO effective April 24, 2026. The Board noted his significant contributions to the Company's strategic growth and operational efficiency.
Board Committee Reconstitution
The Nomination & Remuneration Committee was reconstituted following the resignation of Ms. Kalluri Savitha Rao.| Committee Position | Name | Role |
|---|---|---|
| Chairperson | Ms. Nina Chatrath | Non-Executive Independent Director |
| Member | Ms. Divya Rao | Non-Executive Independent Director |
| Member | Shri Arun Tulsian | Non-Executive Independent Director |
| Member | Ms. Priyanka G. Morarka | Non-Executive Promoter Director |
The Board meeting concluded at 2:20 p.m.
Stock Price Movement
As of 14:34, Morarka Finance Ltd is dipping to ₹55.95, representing a 1.37% decline in trading. Throughout the day, shares fluctuated significantly, touching a low of ₹55.00 while trading near the session's peak of ₹57.99.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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