Studds Accessories Limited Approves Dividend, ESOP Scheme; Announces CFO and Senior Management Changes
Studds Accessories Limited announced key corporate developments following a Board meeting held on May 23, 2026. The board approved the company's audited financial results and recommended a dividend, alongside the adoption of an Employee Stock Option Scheme for its employees.The company also announced strategic personnel changes, including the appointment of Mr. Bharat Goyal as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective from July 1, 2026. Mr. Manish Mehta stepped down from his CFO role but remains with the company, designated as Vice President-Taxation & Compliance, effective July 1, 2026. Furthermore, Deloitte Haskins & Sells LLP was appointed as the Internal Auditors for the Financial Year 2026-27.
Financial Highlights and Dividend Recommendation
The board considered and approved the audited Standalone and Consolidated Financial Results for the Quarter and Financial Year (FY) ended March 31, 2026.The company's audited standalone annual financial results for the year ended March 31, 2026, showed a profit for the year of 215.18 Rs. million, reaching a Total Comprehensive Income of 211.95 Rs. million. Earnings per share (Basic and Diluted) for the year were reported at 21.28 Rs.
The consolidated figures reported the Group's profit for the year at 826.53 Rs. million, leading to a Total Comprehensive Income of 833.29 Rs. million. Earnings per share (Basic and Diluted) for the consolidated entity were 21.00 Rs.
The board recommended a dividend of ₹ 3/- per equity share, each having a face value of ₹ 5/-, for FY 2025-26, which is subject to the approval of the shareholders at the ensuing Annual General Meeting.
Employee Stock Option Scheme (ESOP)
The board also formulated, adopted, and implemented the Studds Accessories Limited Employee Stock Option Scheme 2026. This scheme is designed for the grant of stock options to Eligible Employees across the company and its subsidiaries.Key details of the ESOP Scheme 2026 include:
- Eligibility: Options are granted to eligible employees in India or outside India.
- Maximum Options: The scheme stipulates that the maximum number of options shall not exceed 0.75% of the post issued equity share capital of the Company.
- Exercise Limit: The scheme allows for a maximum of 2,97,381 fully paid-up equity shares in the Company, with a face value of Rs. 5/- each.
- Vesting and Exercise Period: The minimum vesting period is set at one year from the Date of Grant. Options granted under the scheme shall vest no later than five years from the Date of Grant. The exercise period for vested options is five years from the date of vesting, or 60 days from the last working day in the event of resignation (Good leaver).
Key Leadership Changes
The board approved changes in key management personnel roles, effective from July 1, 2026.Chief Financial Officer Appointment:
Mr. Bharat Goyal, a Chartered Accountant with over 17 years of experience, was appointed as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). Mr. Goyal's expertise spans financial controlling, SAP S/4 HANA implementation, budgeting, and strategic financial management. He will be responsible for upholding financial discipline and strengthening internal controls.
Leadership Transition:
Mr. Manish Mehta is stepping down from his role as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). He will transition to a position as Vice President-Taxation & Compliance within the company's Senior Management.
Financial Statement Summary
The comprehensive financial results provide an overview of the company's performance and financial position:| Metric | Period Ended March 31, 2026 (Rs. in millions) | Period Ended March 31, 2025 (Rs. in millions) |
|---|---|---|
| Standalone Total Income | 6,417.01 | 5,948.23 |
| Standalone Total Expenses | 5,285.80 | 4,987.17 |
| Standalone Profit Before Tax | 1,131.21 | 961.06 |
| Standalone Total Comprehensive Income | 840.36 | 708.89 |
| Standalone Total Assets | 6,360.7 | 5,542.53 |
| Standalone Total Equity | 5,246.21 | 4,504.23 |
| Metric | Period Ended March 31, 2026 (Rs. Millions) | Period Ended March 31, 2025 (Rs. Millions) |
|---|---|---|
| Consolidated Total Income | 6,457.49 | 5,959.00 |
| Consolidated Total Expenses | 5,341.30 | 5,008.70 |
| Consolidated Profit Before Tax | 1,116.19 | 950.30 |
| Consolidated Total Comprehensive Income | 833.29 | 697.00 |
| Consolidated Total Assets | 6,376.01 | 5,567.02 |
| Consolidated Total Equity | 5,229.68 | 4,494.77 |
***
Note: All figures presented are derived directly from the audited and unaudited financial statements for the respective periods.
STUDDS Stock Price Movement
On Friday, Studds Accessories Limited shares gained 1.34%, settling at ₹447.7, and marking a gain of ₹5.95 for the day. The stock traded on a volume of 20,135 shares, finding its range between ₹443.00 and ₹449.80.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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