Please find enclosed herewith copy of Notice of 90th AGM of the Company scheduled on 22.08.2025
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Kesar Enterprises has called its 90th AGM for August 22, 2025 at 3:00 PM via video conferencing. Ordinary business includes adoption of FY25 audited financials, re-appointment of Devendra J Shah (rotational director), and appointment of M/s. Chandabhoy & Jassoobhoy as statutory auditors for a 5-year term (till 95th AGM in 2030) at Rs. 17 lakh per annum. Special business includes re-appointment of Harsh R Kilachand as Chairman & Managing Director for 3 years and Dr. Narendra Mairpady as Independent Director for a second 5-year term (special resolution). The meeting also proposes appointing Dhrumil M. Shah & Co. LLP as secretarial auditors (Rs. 1.20 lakh/year), ratifying cost auditor remuneration of Rs. 1.35 lakh for FY26, and ratifying re-appointment of statutory auditors. Key corporate actions include a 1:10 stock split (Rs. 10 face value to Rs. 1), reclassification of authorised capital by converting preference shares into equity, and increasing authorised capital from Rs. 22 crore to Rs. 28 crore.
The 1:10 stock split should significantly improve share liquidity and retail affordability, but no dividend has been declared since FY11. The capital restructuring signals possible fundraising plans ahead, while shareholders should note that the Chairman & MD re-appointment and audit-related appointments need their approval at the AGM.