Elgi Rubber Company Limited has informed the Exchange about updated Notice of Annual General Meeting containing additional information under Regulation 36(3)
ELGIRUBCO · price
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Elgi Rubber Company has filed an updated notice for its 19th Annual General Meeting scheduled for Monday, August 11, 2025 at 10:00 AM via video conferencing. The AGM will consider adopting FY25 audited financial statements and the reappointment of Dr. Jairam Varadaraj, who retires by rotation. Shareholders will also vote on appointing M/s. Arun & Co. as Statutory Auditors for five years (till the 24th AGM in 2030) at a fee of Rs. 15 lakh, following the firm's conversion from a sole proprietorship to a partnership. Additional items include appointing Ashty David as a Non-Executive Independent Director for a 5-year term starting May 29, 2025, ratifying the Cost Auditor's fee of Rs. 75,000, and approving the appointment of C N Paramasivam as Secretarial Auditor for five years at Rs. 2 lakh. A key item is the approval for material related party transactions with LRG Technologies Limited (a promoter group company) up to Rs. 500 million, representing 13.02% of consolidated FY25 turnover, valid till the next AGM. The register of members will be closed from August 5 to August 11, 2025.
Mostly procedural and governance-related, with no major financial surprises. Shareholders should note the Rs. 500 million related party transaction cap with promoter group entity LRG Technologies, which represents a notable 13% of turnover and requires approval. The director and auditor appointments are routine and unlikely to move the stock price materially.