Indo Tech Transformers Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 11, 2025. Further, the company has submitted the Exchange a copy of Srutinizers report along with copy of minutes.
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Indo Tech Transformers held its 33rd AGM on August 11, 2025 via video conferencing, where 9 out of 10 resolutions were approved with overwhelming majority. Voting turnout was around 75% of outstanding shares (roughly 79.8 lakh votes polled). Key items approved include adoption of FY25 audited financials, reappointment of directors Mr. Sudheer Vennam, Mr. Ajay Kumar Dhagat and Ms. Leena Sathyanarayanan, appointment of M. Purushothaman as Whole-Time Director, and ratification of statutory, secretarial and cost auditors. However, the Related Party Transaction resolution (Resolution 9) was REJECTED, with only 22.05% votes in favour and 77.95% against — the promoter group (holding 79.65 lakh shares) abstained, and all public institutional shareholders (12,306 votes) voted against it. Chairman noted FY25 was a year of momentum with improved financial efficiency, and highlighted capacity expansion plans aligned with national infrastructure and renewable energy opportunities, supported by synergies with holding company SSE.
The rejection of the Related Party Transaction by public shareholders — especially the unanimous opposition from institutional investors — is a notable negative governance signal that may concern retail investors about related-party dealings. Routine business resolutions passed easily, and management's emphasis on capacity expansion in renewable energy is a positive forward-looking signal, though the failed RPT vote could create short-term uncertainty.