ORIENT CERATECH LIMITED has informed the Exchange regarding Proceedings of Annual General Meeting held on September 23, 2025
ORIENTCER · price
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Orient Ceratech Limited (formerly Orient Abrasives, part of Ashapura Group) held its 54th AGM on September 23, 2025, via video conferencing, with 43 members in attendance. Six ordinary resolutions were tabled, including adoption of audited standalone and consolidated financial statements for FY25, declaration of a 25% dividend of Re. 0.25 per equity share (on face value of Re. 1), and re-appointment of Mrs. Chaitali Salot as director (retiring by rotation). Other resolutions covered approval of material related party transactions with Bombay Minerals Limited, ratification of cost auditor's remuneration, and appointment of the secretarial auditor. Managing Director Manan Shah said the company operates in three core segments — refractories, ceramic raw materials, and specialist ceramics — and noted that the decline in profitability was mainly due to a change in product mix, though turnover was maintained. The company stated it has no long-term debt and aims to remain a consistent dividend-paying company subject to profitability. E-voting was conducted by CDSL, with results to be declared within two working days.
The 25% dividend (Re. 0.25 per share) is a positive for shareholders, and the no-long-term-debt position signals balance sheet strength. However, the acknowledged decline in profitability due to a product mix shift may weigh on near-term sentiment, and the related party transactions with Bombay Minerals Limited warrant continued investor attention.