Gala Precision Engineering Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on July 15, 2025
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Awaiting price reaction for this filing.
Gala Precision Engineering has issued the notice for its 17th AGM on Tuesday, July 15, 2025 at 3:30 PM IST, to be held via video conferencing. Key items on the agenda include adoption of audited financial statements for FY25, re-appointment of Chairman and Managing Director Kirit Gala (who retires by rotation), and re-appointment of Independent Director Varsha Galvankar for a second 3-year term from November 30, 2025. Shareholders will also vote on fixing the remuneration of three executive directors (Kirit Gala, Balkishan Jalan, and Satish Kotwani), with the board seeking approval for up to 20% annual hikes till November 2028. A related-party resolution seeks approval for Smeet Kirit Gala (relative of the CMD) to hold an office of profit at up to Rs. 1 crore per year. Additionally, D.M. Zaveri & Co. is proposed as Secretarial Auditor for 5 years (FY26–FY30), and the Rs. 75,000 remuneration for Cost Auditor Shekhar Joshi & Co. for FY26 is up for ratification.
Routine AGM filing with no surprise negative triggers, but shareholders should note the related-party resolution for the promoter family member (Smeet Gala) at up to Rs. 1 crore annually, and the proposed 20% annual pay hikes for three executive directors through FY28. Voting outcomes on remuneration and the related-party item are the only items requiring active shareholder attention.