Precot Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 20, 2025
PRECOT · price
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Precot Limited held its 63rd Annual General Meeting on August 20, 2025 via video conferencing, where all 10 resolutions were passed with the requisite majority. Out of 1.2 crore total outstanding shares, 74,17,326 shares (61.81%) were polled, with 99.9995% voting in favor across most resolutions. Key items approved include adoption of audited financial statements, reappointment of Mr. Ashwin Chandran as Chairman and Managing Director, Mr. Prashanth Chandran as Vice Chairman and MD, and declaration of a dividend of Rs. 3 per equity share of Rs. 10 each. Notably, Resolution 6 (reappointment of Mr. Sarath Chandran as Mentor) passed but saw an unusual 83% abstention, with only 16.94% of votes cast in favor and 0.02% against. The Scrutiniser, Vignesh Duraisami, Practicing Company Secretary, confirmed the e-voting process conducted via MUFG Intime's Instavote platform was fair and transparent.
Routine AGM outcome with strong shareholder support (99.99%) for all resolutions, including a Rs. 3 per share dividend, signaling stable governance. However, the unusually high 83% abstention on the reappointment of Mr. Sarath Chandran as Mentor is worth flagging — investors may want to understand why the promoter group abstained on this specific resolution despite it still passing.