Bharat Seats Limited has informed the Exchange regarding Outcome of Board Meeting held on May 07, 2025.
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Bharat Seats Limited's Board of Directors met on May 7, 2025 and approved the audited financial results for the quarter and year ended March 31, 2025, along with the annual financial statements, Directors' Report, and Corporate Governance Report. The Board recommended a dividend of 55% i.e. Re. 1.10 per equity share (on face value of Rs. 2 each) for FY25, subject to shareholder approval, to be paid within 30 days of declaration. The 38th Annual General Meeting has been scheduled for July 9, 2025 to be held via video conference, with the Register of Members closed from July 3 to July 9, 2025. Mr. Rupinder Singh Bhatia was appointed as the Secretarial Auditor for a 5-year term from FY 2025-26 to FY 2029-30. The statutory auditors S.R. Batliboi & Co. LLP issued an unmodified opinion on the results, but flagged an 'Emphasis of Matter' regarding the uncertain outcome of an earlier Income Tax search conducted under Section 132 at company premises and residences of some key employees.
Shareholders stand to receive a Re. 1.10 per share dividend, a positive signal of steady returns. However, the auditor's emphasis on the pending Income Tax search outcome introduces an element of uncertainty that investors should watch. Overall, the filing confirms healthy governance with annual results cleared, an AGM date set, and a new secretarial auditor appointed.