Declaration of Results of Resolutions passed at the 33rd Annual General Meeting (AGM) and Submission of Scrutinizer''s Report.
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Patels Airtemp (India) Limited held its 33rd AGM on 27th September 2025 via video conferencing, where all 7 ordinary and special resolutions were passed with the requisite majority. Key approvals include adoption of audited financial statements for FY25, declaration of a 30% dividend (Rs. 3 per equity share of Rs. 10 face value) for FY ended 31st March 2025, and re-appointment of CMD Sanjivkumar N. Patel who retires by rotation. The company also got shareholder approval to appoint CS Punit Santoshkumar Lath as Secretarial Auditor for 5 years (FY26-FY30) and ratified Rs. 80,000 remuneration for Cost Auditors for FY26. Two special resolutions were passed authorising the Board to borrow up to Rs. 500 Crores and create security on the increased borrowing power under Section 180(1) of the Companies Act. Of 1,246 shareholders on record date, 7 promoters and 44 public shareholders attended through VC, and all resolutions secured 89-100% approval.
The 30% dividend provides a steady payout to shareholders, while the Rs. 500 Crore borrowing limit signals management's intent to pursue higher growth or expansion through debt. The clearance of all resolutions without significant dissent reflects shareholder confidence, though the increased debt headroom may raise leverage concerns for investors monitoring the balance sheet.