RESIGNATION OF MR. PANKAJ SHARMA AS CHAIRMAN - NON-EXECUTIVE DIRECTOR
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The Board of Directors of Agribio Spirits Ltd (formerly Beekay Niryat Ltd), at its meeting on May 30, 2025, accepted the resignation of Mr. Pankaj Sharma as Non-Executive Director (Chairman of the Board), effective the same day, citing other professional commitments. In the same meeting, the Board approved the audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025. It also recommended a final dividend of 2.5% (Rs. 0.25 per equity share) for FY25, subject to shareholder approval at the upcoming AGM. Additionally, M/s Abhishek S & Associates was appointed as the new Secretarial Auditor for a five-year term starting April 1, 2025, replacing the prior auditor whose term had ended.
The exit of a non-executive Chairman reduces the board's leadership strength but the reason cited (personal commitments) suggests a routine departure rather than a governance concern. The modest final dividend of Rs. 0.25 per share indicates conservative shareholder rewards, and the new secretarial auditor appointment is standard rotation. Overall, this is a routine board outcome with limited direct impact on stock price.