Mangalore Chemicals & Fertilizers Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 21, 2025
Awaiting price reaction for this filing.
Mangalore Chemicals & Fertilizers has notified the exchanges about its 58th Annual General Meeting scheduled for August 21, 2025, at 2:30 PM via video conferencing. Key items on the agenda include adopting the audited financial statements for FY24-25, declaring a dividend on equity shares, and re-appointing Chairman Akshay Poddar who retires by rotation. Members will also vote on appointing M/s. Kedarnath & Karthik as Secretarial Auditor for a 5-year term, approving remuneration of up to 1% of net profits (capped at Rs 5 lakh per director per year) for Non-Executive Directors over FY25-26 to FY27-28, and ratifying Rs 2 lakh remuneration for the Cost Auditor for FY25-26. The record date is August 14, 2025, with the shareholder register closed from August 15 to 21, 2025. E-voting will be open from August 18 to August 20, 2025, and the dividend will be paid only through electronic mode after deducting TDS.
Shareholders holding shares as of August 14, 2025 will be eligible for the FY24-25 dividend, if declared at the AGM. The proposed 1% profit-linked remuneration for Non-Executive Directors is modest and contingent on achieving budgeted profits, so the financial impact on shareholders is limited. The virtual AGM format and e-voting window ensure retail shareholders can participate without attending in person.