Poceedings of 38th Annual General Meeting of the Company held on 25th Sep 2025 at 11.00 a.m.
Awaiting price reaction for this filing.
Dharani Sugars held its 38th AGM on 25 September 2025 via video conferencing, chaired by Executive Chairman Dr Palani G Periasamy. A total of 54 members representing 76,772,307 equity shares (50.34%) attended the meeting. Nine resolutions were put to vote, including adoption of FY25 audited financial statements, ratification of statutory auditors (Srivatsan & Associates), appointment of two new Independent Directors (Mr Mahalingam Venkatachalam and Mr P Sakthivel for 5-year terms), and appointment of Secretarial and Cost Auditors. Shareholders also approved related-party borrowing limits of Rs 275 crore with Dharani Developers Pvt Ltd and Rs 25 crore with Dr Palani G Periasamy. Voting results were pending scrutineer's report at filing time. In his speech, the Chairman confirmed the company has formally exited the CIRP (insolvency) process after NCLT approval in May 2024, and overhauling work is underway to restart cane crushing for the 2025-26 sugar season by December 2025.
The AGM marks a significant turnaround milestone — the company is out of insolvency and restarting sugar operations after years of stress, supported by lenders NARCL, IDRCL, IREDA and IFCI. Approval of large related-party borrowing limits (Rs 300 crore combined) signals funding needs for working capital during the operational restart. Shareholders should watch for the voting results announcement and progress on the December 2025 crushing season start, which will be the first key operational proof point post-CIRP.