KOTIC · price
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Kothari Industrial Corporation Limited has filed the notice for its 55th Annual General Meeting scheduled for Friday, 26th September 2025 at 11:00 a.m. via video conferencing, along with the Annual Report for FY 2024-25. Key agenda items include adoption of audited FY25 financial statements, re-appointment of Mr. Rafiq Ahmed as Executive Chairman & Managing Director for 3 years at a salary of Rs. 27.50 lakh per month, and appointment of M/s. Santosh Senapati & Co as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30). The company is seeking shareholder approval to add nine new business objects covering waste management, logistics, steel/alloys, battery and energy storage systems, advertising/media, FMCG, food services, power generation, and paper/packaging — a major diversification move. It also proposes a material related-party transaction to invest up to Rs. 200 crore in Phoenix Kothari Footwear Limited, and a preferential allotment of 17,11,068 equity shares to non-promoters at Rs. 207 per share (face value Rs. 5, premium Rs. 202), raising approximately Rs. 35.42 crore.
The preferential issue will bring in roughly Rs. 35.4 crore of fresh capital but will dilute existing shareholders by 17.11 lakh shares. The proposed addition of nine new business objects signals a major strategic diversification into green energy, batteries, FMCG, waste management, and steel, which could reshape the company's future business profile. The Rs. 200 crore investment in related party Phoenix Kothari Footwear is a significant capital deployment that warrants close shareholder attention.