Annual Report for FY 2024-25 is attached herewith
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Ashnisha Industries has submitted its Annual Report for FY 2024-25 along with the notice for its 16th Annual General Meeting, scheduled for August 12, 2025 at 3:30 PM via video conferencing. Key items on the AGM agenda include adoption of audited financial statements, re-appointment of Managing Director Ashok Shah, regularization of a new Independent Director, and appointment of Mr. Chintan K. Patel as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30). The notice also seeks shareholder approval for material related party transactions with four entities — Rhetan TMT Limited, Lesha Industries Limited, Ashoka Metcast Limited, and Gujarat Natural Resources Limited — each capped at Rs. 150 Crore for FY 2026-27. The company saw multiple board changes during the year, including the exit of one Company Secretary in February 2025 and appointment of a new one in May 2025.
Shareholders will need to vote on several significant items, especially the four material related party transactions worth up to Rs. 150 Crore each with related parties, which could raise governance concerns about inter-group dealings. The high volume of board and KMP changes during FY 2024-25 may also be worth noting for governance-conscious investors.