We are enclosing a copy of Notice convening the 36th AGM which is scheduled to be held on 29th September 2025 through video conferencing/other Audio Visual Means (VC/OAVM) Facility
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Elango Industries has issued the notice for its 36th AGM, scheduled for 29th September 2025 at 11:30 a.m. via video conferencing, with a record date of 19th September 2025. Key agenda items include the adoption of FY25 financial statements, re-appointment of statutory auditors M/s. P. Pattabiramen & Co for a second 5-year term, and the re-appointment of promoter Mr. S. Elangovan as Managing Director for another 5 years (Aug 2025–Aug 2030) notably without any remuneration or perquisites. The notice also seeks shareholder approval to appoint Mrs. Ashitha K and Mr. G. Maheswara Reddy as Independent Non-Executive Directors for 5-year terms, and Mr. S. Ganesan as Secretarial Auditor for 5 years. Additionally, members are asked to ratify related party transactions with Kaveri Gas Power Pvt Ltd worth Rs. 3.17 crore for FY25, and approve material related party transactions for FY26 (totalling ~Rs. 9 crore) and FY27 (totalling ~Rs. 14 crore), largely with group companies.
For shareholders, the MD continuing without remuneration signals cost discipline, while the significant related party transactions with group companies (especially rising loans to Kaveri Gas Power from Rs. 5 cr to Rs. 10 cr) warrant close scrutiny for arm's-length pricing. The expansion of the board with two new independent directors is a routine governance step and unlikely to move the stock materially on its own.