Proceedings of 77th Annual General Meeting
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Awaiting price reaction for this filing.
The 77th AGM of Coromandel Engineering Company Ltd was held on September 18, 2025 via video conferencing. Key business transacted included adoption of FY25 financial statements, re-appointment of Dr. Ennarasu Karunesan (retiring by rotation), appointment of M/s. Nithya Gokul & Associates as Secretarial Auditor for 5 years (FY26–FY30), and approval of material related party transactions with Sri Lakshmi Ammal Educational Trust and Unnmaii Financial Services Pvt Ltd. The Chairman shared that FY25 turnover dropped 67% to ₹3,128.89 lakhs, but the company posted a net profit of ₹41.49 lakhs — a turnaround from a net loss of ₹439.73 lakhs in the prior year — supported by better project execution and receivables collection. The order book was described as healthy, and the company outlined a two-pronged strategy focused on urban and rural housing.
The headline positive is the swing back to profitability despite a steep revenue decline, suggesting improved cost control and execution discipline, though the sharp top-line contraction remains a concern. Voting results and any updates on the related-party transactions could be near-term triggers for shareholders to watch.