PI Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 14, 2025. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
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PI Industries Limited held its 78th AGM on August 14, 2025, through video conferencing, and all 10 resolutions were passed by shareholders with the required majority. Shareholders approved the standalone and consolidated financial statements for FY ending March 31, 2025 (99.97% in favor), and confirmed a total dividend of Rs. 16 per share (Rs. 6 interim + Rs. 10 final) for FY 2024-25 (99.89% in favor). About 89% of outstanding shares (around 13.5 crore shares out of 15.17 crore) participated in e-voting. Multiple director appointments and re-appointments were approved, including re-appointment of Mr. Mayank Singhal as Vice Chairperson & MD (82.04% in favor) and Mr. Rajnish Sarna as Joint MD (89.33% in favor), along with new appointments of Mr. Vegulaparanan Kasi Viswanathan as Independent Director and Dr. Tanjore Soundararajan Balganesh as Non-Executive Non-Independent Director.
All routine and special resolutions cleared, confirming strong overall shareholder support. However, the relatively higher dissent on the re-appointment of Mr. Mayank Singhal (17.96% against) and Mr. Rajnish Sarna (10.67% against) signals some institutional investor pushback on management remuneration/continuity, which shareholders and analysts may want to monitor.