Outcome of AGM dated August 07, 2025
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Permanent Magnets Limited held its 64th AGM on August 7, 2025, via video conferencing, from 2:30 PM to 3:10 PM, with 48 shareholders present. Shareholders approved the audited standalone and consolidated financial statements for FY ending March 31, 2025, and a final dividend of Rs. 2 per equity share. They also approved the re-appointment of Girish Desai (retiring by rotation) and the re-appointment of Sharad Taparia as Managing Director effective April 1, 2026, along with a revision of his remuneration effective April 1, 2025 (passed as a Special Resolution). Additionally, members approved an increase in the Authorised Share Capital with a corresponding amendment to the Memorandum of Association, and the appointment of Dash Dwivedi & Associates LLP as Secretarial Auditors. Voting results will be declared within the stipulated regulatory timeframe.
Shareholders will receive a Rs. 2 per share final dividend, providing direct income. The increase in authorised share capital signals potential future fundraising or stock splits, which could lead to equity dilution. Re-appointment of the existing Managing Director ensures leadership continuity.