Electrotherm (India) Limited has informed the Exchange regarding Notice of 39th Annual General Meeting of the Company to be held on 10th September, 2025
ELECTHERM · price
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Electrotherm (India) Limited has notified shareholders of its 39th Annual General Meeting (AGM) scheduled for Wednesday, 10th September 2025 at 10:00 a.m. via video conferencing. Remote e-voting will be open from 7th September (9:00 a.m.) to 9th September (5:00 p.m.), with a cut-off date of 3rd September 2025. Key business items include adoption of FY25 financial statements, ratification of Cost Auditor remuneration of Rs. 2.25 lakh, and appointment of M/s. Bharat Prajapati & Co. as Secretarial Auditor for five years (FY2025-26 to FY2029-30). Special resolutions seek re-appointment of Mr. Shailesh Bhandari as Managing Director (Executive Vice Chairman) for 5 years with a monthly basic salary of Rs. 45 lakh plus allowances of Rs. 55 lakh, and Mr. Suraj Bhandari as Managing Director with monthly basic salary of Rs. 40.5 lakh plus allowances of Rs. 49.5 lakh. The notice also proposes reclassification of authorised share capital by converting 2.85 crore Partially Convertible Redeemable Preference Shares into equity shares, and amendment of Articles of Association regarding director retirement by rotation.
Shareholders should note the proposal to convert preference shares into equity, which will dilute existing equity holdings if passed. The substantial executive compensation packages for both Bhandari family members and their re-appointment for extended 5-year terms are also material proposals that require shareholder approval. The company has not declared any dividend since 2011.