We herewith submit the Notice of the 34th Annual General Meeting of the Company to be held on Thursday, August 21, 2025, at 11.30 hrs (IST) through Video Conference (VC)/ Other Audio Visual ....
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IP Rings Limited has notified its 34th Annual General Meeting to be held on August 21, 2025 at 11:30 AM IST via video conferencing. Six resolutions are on the agenda: adoption of FY25 audited financial statements (standalone and consolidated), re-appointment of director Mr. Muthalagu Govindarajan who retires by rotation, appointment of Mr. R. Mukundan as Secretarial Auditor for five years, re-appointment of Mr. A. Venkataramani as Managing Director for three years (July 2025 to June 2028) with a basic salary of Rs. 6.76 lakh per month plus allowances and performance bonus up to Rs. 60 lakh per year, adoption of a new set of Articles of Association aligned with the Companies Act 2013, and ratification of Rs. 1.65 lakh remuneration for the Cost Auditor for FY26. The AGM notice reveals the company has reported losses for two consecutive years — profit after tax of Rs. -319.79 lakh in FY25 versus Rs. -273.14 lakh in FY24 — attributed to weak US light vehicle demand, which forms a major export market.
Shareholders should note the company is seeking approval to re-appoint its Managing Director with full remuneration despite two consecutive years of losses, which requires a special resolution. E-voting cutoff is August 14, 2025, so shareholders must hold shares by that date to be eligible to vote on these resolutions.