Proceedings of Annual General Meeting
MCX · price
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MCX held its 23rd AGM on September 12, 2025, via video conferencing, attended by 77 members and chaired by Dr. Harsh Kumar Bhanwala. Key business items included adoption of FY25 audited financial statements, declaration of a Rs. 30 per share dividend (on face value of Rs. 10, i.e., 300%) for FY25, and re-appointment of Mr. Arvind Kathpalia as a non-independent director. Shareholders also considered appointing M/s. V Sankar Aiyar & Co. as the new statutory and tax auditor for a 5-year term (23rd to 28th AGM), and M/s. AVS & Associates as secretarial auditor for FY26–FY30. A notable special resolution was the proposed sub-division (stock split) of each equity share of Rs. 10 face value into 5 equity shares of Rs. 2 face value, along with the related amendment to the Capital Clause of the MOA. Voting was conducted via remote e-voting and e-voting during the AGM; consolidated results are awaited.
Short term: the Rs. 30 dividend rewards shareholders handsomely, while the 1:5 stock split aims to improve liquidity and affordability of the stock for retail investors. Long term: the change in statutory auditor from Shah Gupta & Co to V Sankar Aiyar & Co is a governance shift worth noting; investors should await the declared voting results to confirm shareholder approval of the split and other resolutions.