MSP Steel & Power Limited has submitted the Exchange a copy of Srutinizers report of Annual General Meeting held on September 25, 2025 along with a copy of minutes.
MSPL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
MSP Steel & Power Limited held its 56th AGM on September 25, 2025 via video conferencing, and all 9 resolutions were passed. These included adoption of the FY25 audited financial statements (99.999% in favour), re-appointment of Mr. Pradip Kumar Dey as director, ratification of cost auditor remuneration, appointment of Bajaj Todi & Associates as secretarial auditor, approval of overall managerial remuneration in excess of prescribed limits, and individual remuneration approvals for Chairman Suresh Kumar Agrawal, MD Saket Agrawal, and Joint MD Manish Agrawal. Material related party transactions for FY26 were also approved. Total voting participation stood at 63.49% of outstanding shares (about 359.86 million shares from 181 folios). All resolutions passed, though managerial remuneration resolutions (Items 5-8) saw near-unanimous opposition from public institutional shareholders (around 99.65% voted against), and promoters abstained on 24.7 million shares during the related party transaction vote.
Routine AGM business is cleared with no negative surprise on approvals, but the overwhelming dissent from public institutional investors on director remuneration may flag governance concerns for retail shareholders. The promoter group's large abstention on related party transactions is also worth noting as it relates to potential conflict-of-interest items for FY26.