Proceedings of 62nd Annual General Meeting held on April 30, 2025
Awaiting price reaction for this filing.
Schaeffler India held its 62nd AGM on April 30, 2025, via video conferencing, chaired by Independent Director Ms. Eranti Sumithasri. All directors except Mr. Amit Kalyani attended the meeting. The Chairperson briefed members on the global and Indian economic outlook, FY2024 performance, Q1 FY2025 results, and FY2025 outlook, followed by a presentation from MD & CEO Mr. Harsha Kadam on key performance highlights. Seven resolutions were tabled, including adoption of FY2024 audited financial statements, declaration of dividend, re-appointment of Mr. Andreas Schick and Ms. Sumithasri as directors, ratification of cost auditors' remuneration, appointment of M/s. Samdani Kabra & Associates as Secretarial Auditors for five years, and approval of material related party transactions with parent entity Schaeffler Technologies AG & Co. KG, Germany. The auditor's report had no qualifications, and e-voting results will be declared within statutory timelines.
Routine AGM with standard business items; the proposed dividend declaration and approval of material related party transactions with the German parent company are the key shareholder-relevant items. E-voting results on all seven resolutions will be declared within the prescribed timeline and may move the stock marginally based on vote outcomes.