Elgi Rubber Company Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 11, 2025
ELGIRUBCO · price
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Elgi Rubber Company has sent out the notice for its 19th AGM, scheduled for Monday, August 11, 2025 at 10:00 AM via video conferencing. Key items on the agenda include adoption of audited financial statements for FY25, reappointment of Dr. Jairam Varadaraj as director (retiring by rotation), and ratification of M/s. Arun & Co. as statutory auditors for a fresh 5-year term till 2030 at Rs. 15 lakh per year (filling a casual vacancy caused by their conversion from sole proprietorship to partnership). Shareholders will also vote to appoint Ashty David as a Non-Executive Independent Director for 5 years (May 2025 to May 2030), appoint C N Paramasivam as Secretarial Auditor for FY26-FY30 at Rs. 2 lakh per year, and ratify the cost auditor's fee of Rs. 75,000 for FY26. A key resolution seeks shareholder approval for material related party transactions with LRG Technologies Limited (a promoter group entity linked to Sudarsan Varadaraj, Jairam Varadaraj and Harsha Varadaraj) up to Rs. 500 million, representing about 13% of consolidated FY25 turnover.
Routine AGM notice with no major operational surprises, but shareholders should review the related party transaction resolution (Rs. 50 crore with a promoter group firm) as promoter-affiliated directors cannot vote on it. The auditor changes are procedural and unlikely to materially affect the stock.