Summary of Proceedings of Annual General Meeting held on 22.08.2025 is enclosed herewith.
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Kesar Enterprises held its 90th AGM on August 22, 2025, chaired by CMD Harsh R Kilachand via video conferencing. Shareholders approved 11 resolutions including adoption of FY25 audited financial statements, re-appointment of Shri Devendra J Shah as Director, appointment of new statutory auditors (M/s. Chandabhoy & Jassoobhoy) and secretarial auditors for 5-year terms, and re-appointment of Dr. Narendra Mairpady as Independent Director for a second 5-year term. Shri Harsh R Kilachand was re-appointed as CMD for 3 years. Key capital structure changes approved: reclassification of authorized capital (converting 1 crore preference shares into equity shares), a 10:1 stock split reducing face value from Rs.10 to Rs.1 per share, and increase in authorized capital from Rs.22 crore to Rs.28 crore. The Statutory Auditors' Report carried no qualifications, while the Secretarial Audit Report had one qualification, explained by the Board in the Directors' Report.
The 10:1 stock split will improve share liquidity and make shares more affordable for retail investors, while the authorized capital increase gives the company flexibility for future fundraising. The pending secretarial audit qualification and governance continuity through director re-appointments are the main points shareholders should track. Voting results will be declared within the statutory period.