Quality Power Electrical Equipments Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 25, 2025
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Quality Power Electrical Equipments Limited held its 24th AGM on September 25, 2025 via video conferencing, from 4:30 PM to 5:40 PM, with 52 members in attendance. Seven directors were present, including Chairman & MD Thalavaidurai Pandyan and Joint MD Bharanidharan Pandyan, along with the CFO, statutory auditors, secretarial auditor, and other key officials. Nine resolutions were transacted, including adoption of standalone and consolidated financial statements for FY ending March 31, 2025. A dividend of ₹1 per equity share (face value ₹10) was declared, but only for non-promoter shareholders, as the promoters voluntarily waived their right to receive the dividend. Other resolutions covered re-appointment of a director, continuation of a whole-time director, remuneration for non-executive directors, approval for loans/guarantees, appointment of secretarial auditors for five years, and ratification of cost auditors' remuneration. E-voting results are to be declared within 48 hours of the AGM conclusion.
The promoter family's decision to waive their dividend rights is a notable signal of confidence in the company's reinvestment plans or capital priorities, while non-promoter shareholders stand to receive a ₹1 per share dividend. The proceedings appear routine with no contentious issues, though the loans/guarantees resolution gives the company additional financial flexibility.