CEAT Limited has informed the Exchange regarding Proceedings of Annual General Meeting along with Voting Results and Scrutinizer Report.
CEATLTD · price
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CEAT Limited held its 66th Annual General Meeting on August 21, 2025, via video conferencing, chaired by Mr. H. V. Goenka. All seven resolutions were passed with the requisite majority. Key items approved include adoption of audited standalone and consolidated financial statements for FY25, declaration of a dividend of Rs. 30 per equity share (face value Rs. 10), re-appointment of Mr. Harsh Vardhan Goenka as a director retiring by rotation, ratification of cost auditor D.C. Dave & Co.'s remuneration, appointment of a secretarial auditor for five years, and re-appointment of Mr. Arnab Banerjee as Managing Director and CEO. Shareholders also approved a special resolution authorizing the issuance of non-convertible debentures (NCDs) up to Rs. 1,000 crores on a private placement basis. Total shareholders on record date were 1,45,052, with 62 members attending the meeting via VC. Voting participation was around 74.6% of outstanding shares, with all resolutions receiving over 98% approval, the strongest opposition being on the re-appointment of Mr. H. V. Goenka (about 1.97% against).
Routine AGM clearance confirms the Rs. 30 per share dividend and continuity of leadership. The NCD borrowing approval of up to Rs. 1,000 crores gives the company additional flexibility to raise debt for growth or refinancing, which may modestly increase leverage but is unlikely to materially affect share price in the short term.