Annual Report for the FY 2024-25
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Awaiting price reaction for this filing.
Medico Intercontinental Limited has filed the Notice of its 41st Annual General Meeting (AGM) along with the Annual Report for FY 2024-25 with BSE and CSE. The AGM is scheduled for September 30, 2025 at 2:00 PM through video conferencing, with e-voting open from September 27 to 29, 2025. The company's book closure period runs from September 24 to 30, 2025. Several special resolutions are on the agenda, including increasing borrowing limits from Rs. 20 crores to Rs. 100 crores, raising the Managing Director's salary to up to Rs. 20 lakh per month from April 1, 2025, and approving related party transactions up to Rs. 692 crores. The company also formed a joint venture with Medico Lab in FY 2024-25 to expand product reach. Tanvi Shah is up for reappointment as she retires by rotation.
Shareholders need to vote on multiple special resolutions that materially expand the company's borrowing capacity (5x increase), boost MD compensation, and approve large-scale related party transactions across many promoter-linked entities. These resolutions increase financial flexibility for growth but also concentrate transactions within the promoter group, warranting shareholder attention before voting.