39th AGM of the Company to be held on Wednesday 13th August, 2025 at 12.15 PM At The Registered Office of the Company
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Duke Offshore Limited has announced its 39th Annual General Meeting (AGM) for Financial Year 2024-25, scheduled for Wednesday, 13th August 2025 at 12:15 PM at its registered office in Prabhadevi, Mumbai. The Register of Members and Share Transfer Books will remain closed from 7th August to 13th August 2025, and e-voting will be open from 10th August to 12th August 2025. Key business items include adoption of FY25 audited financial statements, appointment of M/s Kirtane & Pandit LLP as new Statutory Auditors for a five-year term (replacing the outgoing auditors), appointment of M/s R.S. Rajpurohit & Co. as Secretarial Auditors for five years, and shareholder approval for related party transactions up to Rs. 1 crore with directors/promoters Mr. Avik G. Duke, Mr. George Duke, and CFO Mr. Venkatesham Busa for FY 2025-26. The Director's Report reveals a sharp financial downturn, with total income collapsing to Rs. 73.67 lakhs from Rs. 414.26 lakhs the previous year and the company swinging to a loss after tax of Rs. 219.77 lakhs versus a profit of Rs. 123.90 lakhs in FY24, with EPS turning negative at (2.28).
Shareholders should note the company's significant revenue decline and full-year loss in FY25, which may raise concerns about business operations. The proposed auditor changes and related party transaction approvals are routine governance items, though the Rs. 1 crore related party cap for key insiders warrants attention. The book closure period from 7th to 13th August means shareholders must ensure their holdings are recorded before the cut-off to be eligible to vote at the AGM.