Happy Forgings Limited has informed the Exchange about Shareholders meeting
HAPPYFORGE · price
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Awaiting price reaction for this filing.
Happy Forgings Limited filed the voting results of its 46th AGM held on July 29, 2025, conducted via video conferencing. All 8 resolutions were approved with the requisite majority, with 97.44% of outstanding shares (91.87 million out of 94.29 million) participating in the voting. Key items included the adoption of audited financial statements for FY25, declaration of a final dividend of Rs. 3 per equity share, reappointment of Ms. Megha Garg as Whole-Time Director (99.96% in favour), reappointment of S R Batliboi & Co. as statutory auditors for 5 years, and approval of commission for independent directors. A special resolution to allow Mr. Paritosh Kumar to continue as Chairman and Managing Director past age 70 also passed, though with notable dissent — 95.90% in favour and 4.10% against, the lowest support among all resolutions, largely driven by institutional investors.
The Rs. 3 per share dividend is positive for shareholders and signals stable cash generation. All routine governance items passed comfortably, reflecting shareholder confidence in management. The relatively higher dissent on Mr. Paritosh Kumar's continuation as CMD beyond age 70 (4.10% against, mostly from public institutions) is a minor governance flag worth monitoring but unlikely to materially affect the stock.