We enclose, in terms of Regulation 30 and 34 of the SEBI (Listing Obligations and Disclosure Requirements), Regulation 2015, a copy of the Board Report and Accounts of the Company for the ....
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Ovobel Foods has submitted its Annual Report and Board Report for the financial year ended 31 March 2025 to BSE, along with the notice for its 33rd Annual General Meeting scheduled for Tuesday, 30 September 2025 at 3:00 p.m. via video conferencing. The AGM agenda includes adoption of audited financial statements, re-appointment of Mr. Syed Fahad (Non-Executive Director) by rotation, and re-appointment of Mr. Mysore Satish Sharad as Managing Director for another five years (14 June 2026 to 13 June 2031) with a monthly salary of Rs. 5,00,000. Shareholders will also be asked to approve two material related party transactions: ongoing purchase of eggs and sale of crushed egg shell powder with Ashray Farms, and a 30-year lease of 9.175 acres of land in Chitradurga, Karnataka from the Managing Director at a nominal annual rent of Rs. 5,000 with a refundable deposit of Rs. 1.26 crore. Additionally, Ms. Suman Bajoria is proposed as the new Secretarial Auditor for five years (FY 2025-26 to FY 2029-30) and Mrs. Sukanya Satish is proposed as a Non-Executive Promoter Director.
Shareholders should pay close attention to the two related party transactions up for approval, especially the 30-year land lease from the Managing Director at a token annual rent, as these involve promoter-related dealings. Voting on these resolutions at the 30 September AGM will determine both the governance posture of the company and the continuity of its current leadership.