Patels Airtemp AGM 2026: ₹3 Dividend, Dangote Order

AGM outcome: dividend and accounts cleared

Patels Airtemp (India) Limited declared a final dividend of ₹3 per equity share for FY26 at its 34th Annual General Meeting (AGM) held on September 14, 2026. The dividend is on equity shares of face value ₹10 each, and the company stated it represents a 30% payout on face value. Shareholders also approved the adoption of the audited financial statements for the year ended March 31, 2026. The meeting was conducted through Video Conferencing (VC) or Other Audio-Visual Means (OAVM), in line with applicable MCA and SEBI circulars referred to by the company. The AGM proceedings recorded 45 members attending, with the requisite quorum present.

Dividend details: record date and payment timeline

The company fixed August 21, 2026 as the record date for dividend purposes. Patels Airtemp said the dividend, if approved, would be paid electronically in line with SEBI Listing Regulations within 30 days from the date of the AGM. The payout applies to 54,70,240 equity shares, each with a face value of ₹10, and is subject to applicable tax deductions at source. The company also stated that the ₹3 per share dividend recommendation maintained the same payout ratio as FY25.

Voting process: remote e-voting and cut-off date

Shareholders approved four ordinary resolutions through remote e-voting and e-voting at the meeting. The e-voting process was facilitated by Central Depository Services (India) Limited (CDSL). The company specified September 7, 2026 as the cut-off date to determine eligibility to participate in the AGM and cast votes. Remote e-voting was available from 9:00 am on September 10, 2026 to 5:00 pm on September 13, 2026. It also noted that votes cast during the remote e-voting window could not be modified subsequently.

Resolutions passed: director re-appointment and cost auditor fee

Along with adopting the audited statements and approving the final dividend, shareholders re-appointed Mr. Shivang P. Patel as a Director retiring by rotation. The AGM also included ratification of remuneration for the Cost Auditors, M/s Rajendra Patel & Associates, for FY27. The company described these as part of the four ordinary resolutions approved during the meeting.

Overseas order: Dangote refinery work worth ₹225-226 crore

Patels Airtemp disclosed that it secured a new order from Dangote Refineries in Nigeria worth ₹225 crore. Separately, it also stated it had a confirmed ₹226.0 crore fixed-price work order from Dangote Petroleum Refinery, Nigeria. The disclosures indicate the order is tied to the Dangote refinery project and is positioned as a confirmed work order, with the value reported in the ₹225-226 crore range across the company’s updates.

Financial performance: FY26 profit and revenue reported in disclosures

The company’s FY26 performance figures were reported in multiple updates. One disclosure said Patels Airtemp reported a net profit of ₹102.7 crore for FY26, down from ₹165.1 crore in FY25. Another audited-results update reported a 37.8% decline in net profit to ₹1,027.43 lakh (₹10.27 crore) for FY26, while revenue from operations fell 34.8% to ₹25,293.47 lakh (₹252.93 crore). The company also stated that its Board approved the audited financial results for the quarter and year ended March 31, 2026 and recommended the ₹3 per share dividend.

Q1FY27 swing to loss amid sharp revenue drop

Patels Airtemp reported a net loss of ₹62.17 lakh (₹0.62 crore) for the quarter ended June 30, 2026. It attributed the quarter’s outcome to an 81% revenue drop to ₹1,551.52 lakh (₹15.52 crore). The same update said this marked a reversal from a net profit of ₹280.19 lakh (₹2.80 crore) recorded in the corresponding quarter of the previous year. Despite the quarterly loss, the company reiterated that the Board had recommended the FY26 dividend of ₹3 per share, pending shareholder approval at the 34th AGM.

Board and compliance trail around FY26 results

The company indicated that its Board of Directors meeting on August 8, 2026 approved the AGM schedule in compliance with SEBI LODR requirements. It also stated that a board meeting was scheduled on May 30, 2026 to consider and approve audited financial results for the quarter and year ended March 31, 2026, and to evaluate recommending a dividend on 54,70,240 equity shares. The company said the May 30, 2026 meeting was scheduled at 3:30 p.m. at its factory premises in Rakanpur, Gujarat. It also disclosed that the trading window was closed from April 1, 2026 and would reopen 48 hours after the results declaration, on June 2, 2026.

Other corporate update: design senior manager resignation

Patels Airtemp also announced the resignation of Jasmin R. Raval as Senior Manager – Design, effective June 10, 2026. The company stated the resignation was voluntary and due to personal reasons, and that it sought clarification to comply with SEBI regulations.

Stock snapshot and prior AGM reference

As of September 13, 2026, Patels Airtemp (India) stock price was reported at ₹275. A separate data point in the information provided showed ₹289.9 (up 4.83%) on August 28, 2026. The material also referenced the company’s 33rd AGM held on September 27, 2025, where it declared a ₹3 per share dividend and approved borrowings and securities up to ₹500 crore.

Key facts table

Market impact: what investors typically track from this update

The AGM outcome gives investors confirmed visibility on capital return for FY26 through the ₹3 per share final dividend, along with the record date and expected payment timeline within 30 days of the AGM. The Dangote refinery order, disclosed as ₹225-226 crore, stands out as a large contract value in the context of the company’s FY26 revenue figure reported at ₹252.93 crore in one audited update. The quarterly performance update for Q1FY27 highlights operational volatility, with revenue reported at ₹15.52 crore and a net loss of ₹0.62 crore. Investors also tend to watch governance items such as director re-appointment and cost auditor remuneration, both of which were approved as ordinary resolutions.

Analysis: why the AGM decisions matter

The resolutions indicate shareholders endorsed management’s proposals on financial reporting, dividend distribution, board composition, and cost audit oversight for FY27. The dividend payout percentage remained at 30% of face value, consistent with the prior year’s stated payout ratio. The Nigeria refinery order provides an additional datapoint on the company’s execution pipeline, especially as the company simultaneously reported a steep revenue decline in Q1FY27. The combination of a confirmed dividend, a sizeable overseas order disclosure, and a weak quarterly print is likely to keep attention on delivery timelines and the pace of revenue conversion from the order book.

Conclusion

Patels Airtemp’s 34th AGM on September 14, 2026 approved a ₹3 per share FY26 final dividend, adopted audited accounts, re-appointed a director by rotation, and ratified cost auditor remuneration for FY27. The company has also highlighted a ₹225-226 crore Dangote refinery work order and set August 21, 2026 as the record date, with dividend payment targeted within 30 days of the AGM.