At 29th AGM, shareholders have approved: 1. Appointment of Secretarial Auditor for 5 years 2. Chemcrux Enterprises Employee Stock Option Scheme (ESOP 2025/ Scheme)
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At the 29th AGM held on 24th September 2025, shareholders approved six key resolutions. M/s. KSPS & Co. LLP was appointed as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30). Three directors — Mr. Girishkumar Shah (Executive Chairman, age 69), Mr. Sanjay Marathe (Managing Director, age 68), and Mr. Bhanubhai Patel (Independent Director, age 74) — were allowed to continue in their roles beyond the standard retirement age thresholds of 70 and 75. The authorised share capital was increased from Rs. 15 Crores (1.5 crore equity shares) to Rs. 20 Crores (2 crore equity shares), requiring an amendment to the Memorandum of Association. Additionally, the Chemcrux Enterprises Employee Stock Option Scheme (ESOP 2025) was approved, covering up to 20 lakh stock options for eligible employees across the company, subsidiaries, associates, joint ventures, and group companies.
The ESOP 2025 scheme introduces potential future equity dilution of up to 20 lakh shares (roughly 13.5% of current authorised capital), which could affect existing shareholders' stake over time if exercised. The hike in authorised share capital gives the company headroom for future fundraising or further ESOP issuance. Continuation of promoter-led directors beyond retirement age maintains management stability but may raise governance questions for some investors.