Ashima Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 07, 2025
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Ashima Limited has filed the notice for its 42nd AGM to be held on August 7, 2025, at 11:30 a.m. via video conferencing, along with the Annual Report for FY 2024-25. The AGM will cover routine items like adoption of financial statements, the reappointment of Executive Director Krishnachintan Parikh (retiring by rotation), and approval of Cost Auditor remuneration of Rs 85,000. Key special items include the reappointment of Chairman & Managing Director Chintan N. Parikh for another 3 years (Feb 2026 to Feb 2029) at a proposed monthly salary of Rs 8.75 lakh plus HRA of Rs 3.75 lakh, his continuation past age 70 needing a special resolution, and approval for related-party transactions with Saumya Construction Pvt Ltd (up to Rs 3 crore/year) and between its subsidiary Ashima Capital Management and Saumya Construction (up to Rs 2 crore/year) for FY 2025-26 to 2027-28. The company reported turnover of Rs 1,329 lakh but a loss of Rs 1,888 lakh in FY25 (vs profit of Rs 9,641 lakh in FY24), hurt by weak real estate revenue, sluggish markets, and the closure of its cotton textile operations.
Shareholders will vote on the MD's reappointment, his continued tenure past 70, and three years of related-party transactions with Saumya Construction. The swing from a Rs 96 crore profit to an Rs 18.9 crore loss and the exit from textiles are negatives, but the reappointment signals leadership continuity. The AGM is largely procedural, so expect limited immediate stock reaction unless voting outcomes on related-party items draw dissent.