Laxmi Organic Industries Limited has submitted the Exchange a copy of Srutinizers report of Annual General Meeting held on July 31, 2025.
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Laxmi Organic Industries has filed the Scrutinizer's Report (by GMJ & Associates) for its 36th AGM held on July 31, 2025 via video conferencing. All 10 resolutions were passed with the required majority. About 75.26% of total equity (around 20.85 crore shares out of 27.70 crore) participated in voting, with promoter group (holding ~69.4% stake) voting 100% in favor on every item. Key approvals include adoption of FY25 audited financial statements, declaration of final dividend, re-appointment of Mr. Rajeev Goenka and Dr. Rajan Venkatesh (MD & CEO), ratification of Cost Auditors' remuneration, appointment of Secretarial Auditors, and re-appointment of Mr. Harshvardhan Goenka as Executive Director. Notably, three Special Resolutions also passed: revision in remuneration for Dr. Rajan Venkatesh (99.98% in favor) and Mr. Ravi Goenka, Executive Chairman (98.33% in favor), plus extension of Laxmi ESOP 2024 benefits to employees of subsidiary/associate companies (96.53% in favor). The ESOP resolution saw the highest dissent, with Public Institutions voting roughly 50:50, while the Ravi Goenka remuneration saw about 1.67% votes against (3.48 lakh shares).
This is a routine procedural filing confirming that all AGM resolutions, including the dividend, director re-appointments, and executive pay hikes, have shareholder approval. The overwhelming support (over 96% on every item) signals no governance controversy, though institutional investors showed visible, though minority, pushback on the ESOP extension and Chairman remuneration.