Coastal Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 26, 2025
COASTCORP · price
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Coastal Corporation Limited held its 44th Annual General Meeting on September 26, 2025 via video conferencing from 10:12 AM to 10:45 AM. All seven directors were present and the requisite quorum was confirmed. Eleven business items were transacted, including adoption of audited standalone and consolidated financial statements for FY ended March 31, 2025, declaration of a final dividend of Rs. 0.22 per equity share (11% on face value of Rs. 2), re-appointment of Smt. Keeja Valsaraj as Director retiring by rotation, and re-appointment of Mr. Valsaraj Thottoli as Managing Director. The Chairman noted no qualifications in the Secretarial Auditor's report and read out qualifications in the Statutory Auditor's report. Other approvals included appointment of a new Secretarial Auditor for five years, related party transactions, increase in borrowing limits under Section 180(1)(c), creation of mortgage/charge on company assets, and appointment of Mr. Vasantharao Satya Venkata Rao as Independent Director. E-voting results are awaited.
Routine procedural update; the final dividend of Rs. 0.22 per share is modest. Key resolutions on borrowing limit increase and related party transactions could signal future fund-raising or expansion activity. E-voting results, which are pending, may have a more material impact.