We wish to inform that the 52nd Annual General Meeting (AGM) of the Company was held on Friday, August 8, 2025 at 3:00 P.M. (IST), through Video Conferencing/ Other Audio Visual Means. ....
MAJESAUT · price
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Majestic Auto Limited held its 52nd Annual General Meeting on August 8, 2025, via video conferencing, where 4 ordinary resolutions were passed. Total shareholders on record date were 7,745, with 92 shareholders attending through VC. All four resolutions passed with over 90% approval: adoption of FY25 audited financial statements (90.76% in favor), confirmation of interim dividend and declaration of final dividend for FY24-25 (91.40% in favor), re-appointment of Ms. Ayushi Jain as director (90.76% in favor), and appointment of Secretarial Auditor for 5 years (90.76% in favor). Promoters, holding 7,798,108 shares (75% of equity), voted unanimously in favor of all resolutions. However, public non-institutional shareholders voted overwhelmingly against, with about 92.86% opposing the dividend resolution and 99.69% opposing the other three resolutions, though their votes weren't enough to block them due to the promoters' majority.
All routine AGM items passed comfortably thanks to promoter backing, but the heavy dissent from public shareholders on the dividend and director reappointment is a notable red flag worth watching. The confirmed final dividend is a positive cash event for shareholders, while the public dissent could affect future governance optics.