S. P. Apparels to hold 21st AGM on Sep 21, 2026; proposes 5:1 stock split
S. P. Apparels Limited will hold its 21st AGM on September 21, 2026, to approve the FY26 financial statements and declare a dividend. A 5-for-1 stock split, reducing face value from ₹10 to ₹2, is proposed to boost liquidity. Authorized capital will be ₹47.25 crore.
The stock split is a significant corporate action that can impact share price and liquidity. The AGM agenda also includes standard financial approvals and dividend declaration.
The announcement of an AGM, dividend declaration, and a stock split to enhance liquidity are generally positive indicators for shareholders.
S. P. Apparels Limited has announced the date for its 21st Annual General Meeting (AGM), scheduled to be held on Monday, September 21, 2026, at 4:00 PM IST through Video Conferencing (VC) / Other Audio-Visual Means (OAVM).
The company has fixed Tuesday, September 15, 2026, to Monday, September 21, 2026, for book closure. The cut-off date for determining eligibility for the AGM is Monday, September 14, 2026.
Key business to be transacted at the AGM includes the adoption of standalone and consolidated audited financial statements for the financial year ended March 31, 2026, and the declaration of a dividend for the same financial year. Additionally, a director is set to retire by rotation and offer for re-appointment.
A significant proposal is the sub-division of equity shares from a face value of ₹10 each to ₹2 each, effectively a 5-for-1 stock split. This move aims to enhance liquidity and attract small investors. The company also proposes to alter the Capital Clause of its Memorandum of Association to reflect this sub-division. The authorized share capital will be ₹47.25 crore, divided into 23,62,50,000 equity shares of ₹2 each.
The company also stated that adjustments will be made to the SPAL Employee Stock Option Plan 2024 (ESOP 2024) to account for the stock split, ensuring no change in the aggregate paid-up value. The remuneration for Mrs. S. Latha, an Executive Director retiring by rotation, is proposed at ₹6 Lakhs per month plus 1% commission on net profits.
A plain-language summary of a public exchange filing by S. P. Apparels Limited. Read the original for the full detail.