77th Annual General meeting scheduled to be held on 18th September 2025 at 3 PM via Video conference or OVAM
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Coromandel Engineering Company has scheduled its 77th AGM on September 18, 2025 at 3:00 PM via Video Conferencing, alongside the circulation of its Annual Report for FY 2024-25. Revenue from operations dropped sharply by 67% to Rs. 3,128.89 Lakhs, but the company returned to profitability with a Net Profit after Tax of Rs. 41.49 Lakhs versus a loss of Rs. 439.73 Lakhs in FY24, supported by better cost control and receivable collection. No dividend has been recommended. During the year, the company raised capital via a preferential allotment of 67,22,722 equity shares at Rs. 40.05 per share to promoters and non-promoters, of which 16,49,840 shares were allotted on May 8, 2025. Several senior management changes occurred, including the appointment of Mr. G V Manimaran as Chairman and Managing Director replacing Mr. Sabaretnam Singaram.
Shareholders should note the sharp revenue decline but a return to profitability, no dividend, and ongoing concerns flagged by auditors around delays in GST (Rs. 1.09 cr), TDS, MSME dues (Rs. 7.26 cr), and IDFC loan repayments, which may weigh on sentiment. Dilution from the preferential allotment and a planned business diversification could be positive for long-term growth if executed well.