Elgi Equipments Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 12, 2025
ELGIEQUIP · price
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Elgi Equipments has released its Annual Report for the financial year ended March 31, 2025, along with the notice for its 65th AGM scheduled for August 12, 2025 at 4:30 PM via video conferencing. FY25 was a strong year with revenue from operations growing about 9% to ₹35,104 million and net profit rising 12% to ₹3,502 million, taking basic EPS to ₹11.09 versus ₹9.87 the previous year. The Board is recommending a final dividend of ₹2.20 per share (220% on a ₹1 face value), up from ₹2.00 last year, with the record date already set as July 18, 2025. Shareholders will vote on the re-appointment of Managing Director Jairam Varadaraj for another 5-year term (April 2026 to March 2031) with total remuneration capped at ₹450 lakhs per year, along with ratification of the cost auditor's ₹5 lakh fee and appointment of MDS & Associates LLP as the new secretarial auditor for a 5-year term. Cut-off date for e-voting eligibility is August 5, 2025, with the remote e-voting window running from August 9 to August 11, 2025.
Solid double-digit profit growth and a 10% dividend hike are positive for shareholders, and the AGM is largely procedural. The key item to watch is the special resolution seeking shareholder approval for the Managing Director's re-appointment, which explicitly allows his combined pay with the Executive Director to exceed SEBI's usual 5% of net profits cap — this could draw some governance scrutiny despite the absolute ceiling being fixed at ₹4.5 crore per year.