NMDC Steel Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 28, 2025
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Awaiting price reaction for this filing.
NMDC Steel Limited held its 10th AGM on August 28, 2025, via video conferencing from 3:30 PM to 4:37 PM IST. Out of 7,94,453 total shareholders (as on cut-off date August 21, 2025), only 62 members participated through VC. The meeting was chaired by CMD Shri Amitava Mukherjee, with all five directors joining from Hyderabad. The Statutory Auditors submitted a clean (unmodified) audit report for FY24-25 with no qualifications, and the CAG gave 'Nil' comments on the financial statements. However, the Secretarial Auditor flagged that the Board lacks Independent Directors (including a Women Independent Director) and that certain Board-level committees have not been constituted. Ten resolutions were tabled covering adoption of financials, director reappointments and new appointments (including CMD Amitava Mukherjee and a new Government Director), and ratification of auditor remuneration. Shareholders raised questions on US tariff impact, possibility of future dividends, and the company's market outlook.
This is a routine procedural filing confirming the AGM was held and resolutions were put to vote, with results still awaited. The clean audit report is mildly positive for governance confidence, but the noted absence of Independent Directors on the Board remains a compliance concern that investors should track.