Please find enclosed the summary of proceedings of the 20th Annual General Meeting held on 24th September, 2025 via VC/OAVM.
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Deep Polymers held its 20th AGM on 24th September 2025 via video conferencing, lasting only 15 minutes (3:00 PM to 3:15 PM). Four resolutions were placed before shareholders: adoption of audited standalone and consolidated financial statements for FY2024-25, re-appointment of Executive Director Ashaben Patel (who retires by rotation), regularization of Aryan Rameshbhai Patel as a non-executive director, and appointment of M/s. Utkarsh Shah & Co. as Secretarial Auditor for FY2025-26 through FY2029-30. Notably, the Statutory Auditors' Report on the FY2024-25 financial statements carries a qualified opinion. No shareholder queries were received and none of the three registered speaker shareholders were present. E-voting ran from 20th–23rd September, with results to be announced by 26th September 2025.
The qualified opinion from statutory auditors on FY2024-25 financials is a watch-worthy flag for investors, though the resolutions themselves are largely routine governance matters. Board continuity remains with the Patel family in key roles, and the unusually short 15-minute meeting with no shareholder engagement suggests limited controversy but also limited discussion of the qualified audit matter.