Proceedings (Outcome) of 33rd Annual General Meeting of the Company held on today i.e. 27th September, 2025 through Video Conferencing (VC) / Other Audio Visual Means (OAVM).
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Patels Airtemp India Ltd held its 33rd AGM on 27th September 2025 via video conferencing, chaired by Chairman & Managing Director Mr. Sanjivkumar N. Patel, with 51 members present. All 7 resolutions were transacted, including adoption of FY25 audited financial statements and declaration of a dividend of Rs. 3.00 per share (30%) on 54,70,240 equity shares. Two special resolutions were passed to raise the Board's borrowing and security-creation limits up to Rs. 500 Crores under Section 180 of the Companies Act, 2013. The Chairman also briefed members on financial performance, order book position as of 1st September 2025, and expansion plans under a new Greenfield project. Statutory and Secretarial Auditors reported no qualifications or adverse remarks on the FY25 financial statements.
The 30% dividend declaration rewards shareholders and signals strong cash flow, while the sharp increase in borrowing limit to Rs. 500 Crores (a significant jump from existing limits) points to sizeable capex/funding needs, likely linked to the announced Greenfield project expansion.