77th Annual General Meeting to be on 18th Sepetmber 2025 at 3 PM via video conference or OVAM
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Coromandel Engineering Company Ltd has announced its 77th AGM to be held on Thursday, September 18, 2025, at 3:00 PM via video conferencing. The company posted FY25 revenue of Rs 3,128.89 lakhs, a sharp 67% decline from Rs 9,663.81 lakhs in the previous year, but swung to a net profit of Rs 41.49 lakhs from a loss of Rs 439.73 lakhs earlier. EPS stood at Rs 0.12 versus negative Rs 1.32. The board has not recommended any dividend. The company is diversifying beyond its core construction/EPC business into new sectors, approved via postal ballot. It also allotted 16,49,840 equity shares on a preferential basis at Rs 40.05 per share in May 2025, raising paid-up equity capital to 3,48,83,438 shares. Reappointment of Dr. Ennarasu Karunesan as a director is on the AGM agenda.
Shareholders get to vote on director reappointment and the auditor's appointment for the next five years. While revenue dropped sharply, the return to profit is a positive signal, though concerns remain over unpaid MSME dues of Rs 7.26 crore and delayed statutory payments flagged by auditors. The preferential allotment and business diversification signal an effort to strengthen the balance sheet and broaden revenue streams, which could be supportive for the stock if execution improves.