Outcome of 62nd Annual General Meeting held on April 30, 2025
Awaiting price reaction for this filing.
Schaeffler India held its 62nd AGM on April 30, 2025, and all 7 resolutions were passed with the requisite majority. Shareholders approved the audited financial statements for FY ended December 31, 2024, and the declaration of dividend on equity shares for the same period. Re-appointment of Andreas Schick as a director (retiring by rotation) was cleared with 97.56% support, while re-appointment of Eranti V. Sumithasri as Independent Director passed with 99.96%. The cost auditors' remuneration was ratified, and Samdani Kabra & Associates was appointed as Secretarial Auditor for a 5-year term. A Material Related Party Transaction with the German parent Schaeffler Technologies AG & Co. KG was approved, but with notably lower support of 76.17%, as 23.83% of public-institution votes were against. Voting turnout stood at 93.39% of paid-up equity capital, with 76,987 shareholders on record.
These are largely routine AGM approvals and should not materially move the stock; the dividend confirmation is positive for shareholders awaiting the payout. The 24% dissent from institutional investors on the related-party transaction with the German parent is a mild governance red flag worth monitoring, though the resolution still passed comfortably.