Coastal Corporation Limited has submitted the Exchange a copy Srutinizers report along with voting result of 44 Annual General Meeting held on September 26, 2025
COASTCORP · price
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Awaiting price reaction for this filing.
Coastal Corporation Limited held its 44th Annual General Meeting on September 26, 2025, via video conferencing, with 14,855 shareholders on record. All 11 resolutions were passed with overwhelming shareholder approval, ranging from 99.98% to 100% in favour. Key items approved include the adoption of audited financial statements for FY25, a final dividend of Rs. 0.22 per equity share (11% on face value of Rs. 2), re-appointment of Ms. Jeeja Valsaraj as director, re-appointment of Mr. Valsaraj Thottoli as Managing Director, and appointment of Mr. Vasantharao Satya Venkata Rao as Independent Director. Shareholders also approved special resolutions covering related party transactions, increased borrowing limits under Section 180(1)(c), mortgaging company assets as security, and advancing loans under Section 185. Promoters holding 1.87 crore shares voted 100% in favour of every resolution, while the small public dissent was negligible.
Routine procedural filing with no negative signals — the dividend of Rs. 0.22 per share will benefit all equity shareholders. Approval of higher borrowing limits and related party transactions gives the board more financial flexibility, but the near-unanimous vote reflects strong shareholder confidence.