Marine Electricals (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 29, 2025
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Marine Electricals held its 18th AGM on September 29, 2025, via video conferencing, which ran from 3:05 p.m. to 3:35 p.m. Six resolutions were tabled, including adoption of audited financial statements for FY25 (standalone and consolidated), declaration of a final dividend of Rs. 0.30 per equity share, and re-appointment of Mrs. Tanuja Pudhierkar as a director (retiring by rotation). Shareholders also voted on appointing M/s. R. Bhandari & Co. as Secretarial Auditor and on two special resolutions seeking to revise the remuneration of Chairman Mr. Vinay Uchil and Managing Director Mr. Venkatesh Uchil. Only 45 shareholders attended the meeting out of 97,752 shareholders on the record date of September 20, 2025. Remote e-voting was open from September 25 to September 28, and the consolidated scrutinizer's report with voting results will be released separately within the regulatory timeline.
The Rs. 0.30 final dividend is a modest payout for shareholders. The two special resolutions to hike remuneration of the Chairman and Managing Director warrant close attention, as they affect the company's future expense base and required a higher shareholder approval threshold. Watch for the e-voting results announcement to confirm the outcome of all six resolutions.