Proceedings of the 35th Annual General Meeting ("AGM) of S R Industries Limited held on 21st August, 2025
Awaiting price reaction for this filing.
S R Industries Limited held its 35th AGM on 21st August 2025 in Sas Nagar, Punjab, from 12:30 PM to 2:00 PM. Five resolutions were passed: (1) adoption of audited financial statements for FY 2024-25 with no qualified or adverse auditor remarks, (2) reappointment of Mr. Manish Kumar Gupta as Director (retiring by rotation), (3) special resolution to change the company's name and amend the MOA/AOA, (4) appointment of M/s Meenu G. & Associates as Secretarial Auditors, and (5) special resolution to issue 0.01% Compulsorily Convertible Debentures (CCDs). The Chairman highlighted newly launched footwear brands and initiatives to revive operations after the company's exit from the Corporate Insolvency Resolution Process (CIRP). Due to the old ISIN being suspended and the new ISIN awaiting BSE listing approval, remote e-voting could not be facilitated, and voting was conducted through ballot papers. All resolutions were passed with the requisite majority.
Shareholders approved key items including audited FY25 accounts, a company name change, and the issuance of 0.01% CCDs (which will dilute existing shareholders on conversion). The post-CIRP revival narrative, new footwear brand launches, and pending activation of the new ISIN on BSE are the main things to watch — the name change and CCD issuance could materially affect the stock's identity and shareholding structure.