ICICI Lombard Approves FY26 Audited Results, Recommends ₹7 Dividend, Appoints New Auditor & Director
ICICI Lombard approved its audited financial results for FY26 and the quarter ended March 31, 2026. The company recommended a final dividend of ₹7 per share. B S R & Co. LLP was appointed as a Joint Statutory Auditor for four years. Mr. Shyam Srinivasan was appointed as a Non-executive Independent Director for five years. The company also approved grants of 1.7 million stock options and 1.05 million stock units.
The appointment of a new independent director with significant experience and the recommendation of a final dividend are material events that can impact investor confidence and the company's valuation. The change in statutory auditors is also a significant corporate governance event.
The announcement includes positive developments such as the approval of audited financial results, a recommended dividend, the appointment of a new independent director with a strong background, and the appointment of a new auditor. These factors are generally viewed positively by investors.
ICICI Lombard General Insurance Company Limited announced the approval of its Audited Financial Statements for the financial year ended March 31, 2026, and the Audited Financial Results for the quarter and financial year ended March 31, 2026. The company's Board of Directors, based on the recommendation of the Audit Committee, approved these results, which received an unmodified opinion from the Joint Statutory Auditors, PKF Sridhar & Santhanam LLP, and Walker Chandiok & Co. LLP.
The Board has recommended a final dividend of ₹7.00 per equity share (70% of face value) for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The dividend will be paid after approval at the AGM.
Furthermore, the Board approved the appointment of B S R & Co. LLP as one of the Joint Statutory Auditors for a term of four consecutive years, commencing from the conclusion of the Twenty-Sixth AGM until the conclusion of the Thirtieth AGM. This appointment is also subject to member approval.
In a significant move, Mr. Shyam Srinivasan has been appointed as an Additional Director in the category of 'Non-executive, Independent Director' for a term of five consecutive years, effective April 15, 2026, to April 14, 2031. This appointment is subject to member approval at the ensuing AGM. Mr. Srinivasan brings over three decades of experience in the banking and financial services industry.
The Board also approved the grant of up to 1.7 million stock options under the ICICI Lombard-Employees Stock Options Scheme-2005 and up to 1.05 million stock units under the ICICI Lombard-Employees Stock Unit Scheme-2023. The meeting of the Board of Directors commenced at 3:35 p.m. and concluded at 6:30 p.m. on April 15, 2026.
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