Mahindra Logistics Limited has submitted the Exchange a copy Srutinizers report and voting results of Annual General Meeting held on July 21, 2025
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Mahindra Logistics held its 18th AGM on July 21, 2025 via video conferencing, where 11 out of 12 resolutions were passed with overwhelming shareholder support (over 99.99% in favor on most items). Total votes polled stood at 5.44 crore shares, representing 75.42% of the 7.21 crore outstanding shares. Key approvals included the audited standalone and consolidated financial statements for FY25, declaration of a final dividend, re-appointment of Mr. Naveen Raju Kollaickal as Director and Ms. Malvika Sinha as Independent Director, appointment of Mr. Hemant Sikka as Director and Managing Director & CEO (for the period May 5, 2025 to May 4, 2030), introduction of the 'Mahindra Logistics Limited - Performance Stock Unit Plan 2025' (including grants to subsidiary employees), and an increase in authorised share capital with corresponding MOA amendment. Resolution 6 for the re-appointment of Independent Director Mr. Dhananjay Mungale became infructuous after he withdrew his candidature citing professional commitments, with a corrigendum to the AGM notice issued on July 14, 2025.
Shareholders have formally approved the final dividend and leadership transition to Hemant Sikka as the new MD & CEO, providing governance clarity. The approval of the PSU Plan 2025 and increase in authorised share capital create headroom for future stock-based rewards and potential fund-raising. Mr. Mungale's exit will require a replacement Independent Director to be appointed by the board, but no material concerns were raised by shareholders as nearly all resolutions passed with near-unanimous support.