VOTING RESULTS AND SCRUTINIZER REPORT
KOTIC · price
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Kothari Industrial Corporation held its 55th AGM on 26 September 2025 via video conferencing, where all 7 resolutions were passed with overwhelming majority (99.99% in favour on each). Key resolutions included the adoption of FY25 audited financial statements, re-appointment of Mrs. T.A. Rajalaxmi as a director via rotation, and the re-appointment of Mr. Rafiq Ahmed as Executive Chairman and Managing Director for a further 3-year term. Shareholders also approved the appointment of M/s. Santosh Senapati & Co as Secretarial Auditor for 5 years, alteration of the object clause of the Memorandum of Association, a material related party transaction for further investment in Phoenix Kothari Footwear Limited, and a preferential issue of 17,11,068 equity shares to non-promoters. Out of 53,481 shareholders on record date, only 39 attended via VC and roughly 11.91% of outstanding shares were voted (about 1.12 crore shares out of 9.37 crore).
All resolutions sailed through comfortably, signalling strong promoter and institutional support for management's agenda. The preferential allotment of 17.11 lakh equity shares will lead to a small dilution for existing shareholders, while continued investment in Phoenix Kothari Footwear points to a strategic focus on the footwear business. Low voting turnout (~12%) means the outcomes largely reflect promoter-aligned decisions rather than broad retail shareholder engagement.