Apex Frozen Foods Limited has informed the Exchange about voting results of the 13th AGM
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Apex Frozen Foods held its 13th AGM on 29 September 2025 via video conferencing, with all 11 resolutions passed with the requisite majority. Key items approved include the FY25 audited financial statements, a final dividend of Rs. 2.00 per share (20% on Rs. 10 face value), and the appointment of M/s. A.S. Ramkumar & Associates as Secretarial Auditors. Shareholders also cleared several special resolutions: the continuation of Executive Chairman K. Satyanarayana Murthy beyond age 70, an increase in the overall managerial remuneration ceiling from 16% to 26% of net profits, and the re-appointment of the Managing Director, Whole Time Director, and two Independent Directors (each for a second 5-year term). Promoter group (holding ~22.69 million of 31.25 million outstanding shares) voted unanimously in favour, while public non-institutions showed meaningful dissent — over 53% voted against the remuneration cap hike and chairman continuation, and about 41% opposed the re-appointment of the promoter family directors.
Routine AGM business is cleared and the Rs. 2 per share dividend is confirmed for eligible shareholders. However, the unusually high public dissent on the executive remuneration increase, chairman continuation beyond 70, and re-appointment of promoter-family directors may signal minority shareholder discomfort with governance and promoter remuneration — a factor worth tracking for any future governance or voting-related developments.