Electrosteel Castings Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 27, 2025
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Electrosteel Castings Limited held its 70th Annual General Meeting on August 27, 2025, via video conferencing from 11:30 AM to 12:30 PM, chaired by Independent Director Mr. Jinendra Kumar Jain. Eight resolutions were transacted, including adoption of standalone and consolidated financial statements for FY25, declaration of a final dividend of ₹1.40 per share (140% on face value), re-appointment of two directors retiring by rotation, ratification of joint cost auditors' remuneration, appointment of MKB & Associates as Secretarial Auditor, and re-appointment of Mr. Rajkumar Khanna as Independent Director for a second five-year term. The statutory auditors' report contained a qualified opinion, which was read out to members along with the Board's explanations. Members raised questions on financials, operations and finance, which were addressed by the CEO and CFO. E-voting results are expected to be declared within two working days.
The final dividend of ₹1.40 per share is a positive cash return for shareholders. The qualified opinion in the statutory auditors' report is worth noting, though the Board has provided comments in the Directors' Report. E-voting outcomes, due within two working days, may have a modest impact on the stock.