Pursuant to Regulations 30 and 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed soft copy of Company''s Annual Report for Financial ....
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Awaiting price reaction for this filing.
Ludlow Jute & Specialities has filed its 46th Annual Report for FY 2024-25 along with the notice for its AGM scheduled on September 17, 2025, to be held via video conferencing. Several board changes took place during the year — three independent directors ceased between September and October 2024, and new directors were appointed to fill those vacancies. Shareholder approval is being sought for: related party transactions up to Rs. 100 crore for purchase/sale of raw materials and finished goods, increasing the borrowing limit under Section 180(1)(c) to Rs. 250 crore, and creation of mortgage/charge on company assets to secure such borrowings. The notice also seeks ratification of cost auditor remuneration (Rs. 40,000) and appointment of a new secretarial auditor for a five-year term from FY 2025-26 to FY 2029-30. The company is based in Kolkata with its plant in Howrah, and J K V S & Co. continues as statutory auditor.
The key items requiring shareholder approval are a significant jump in the borrowing ceiling to Rs. 250 crore and regular related party transactions of up to Rs. 100 crore annually, both of which suggest higher leverage and continued dependence on related-party dealings. The multiple board changes in a short period (Sept–Oct 2024) may also be worth monitoring, though the financials were not included in the filing for deeper analysis.