Notice to Shareholder Meeting
Awaiting price reaction for this filing.
Quasar India Ltd has filed the notice for its 46th Annual General Meeting to be held on 30th September 2025 at 2:00 PM through video conferencing. The AGM will consider adoption of audited financials for FY 2024-25, re-appointment of Managing Director Sureshkumar Mohanlal Prajapati (retiring by rotation), appointment of Vijayrao More as Non-Executive Director, appointment of Jay Pandya & Associates as Secretarial Auditor for 5 years (FY 2025-26 to FY 2029-30), and approval of Mr. Prajapati as Managing Director for 5 years (Nov 2024 to Nov 2029) with a salary of up to Rs. 2 lakh per month. Financial performance shows revenue rose to Rs. 4,213.36 lakhs from Rs. 3,645.74 lakhs, but profit after tax collapsed to just Rs. 2.44 lakhs from Rs. 160.40 lakhs, with EPS falling to 0.00 from 3.00.
The sharp drop in profits despite higher revenue is a major red flag for shareholders and could weigh on the stock. Re-appointments of the existing Managing Director and Director are routine, while the 5-year MD appointment with a fixed salary of Rs. 2 lakh/month gives clarity on leadership costs going forward.