RMDRIP · price
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R M Drip and Sprinklers Systems Limited held its 21st AGM on 15th September 2025 via video conferencing, which lasted just 10 minutes (12:00 PM to 12:10 PM). All 7 resolutions were passed with 100% votes in favour and zero opposition. Key resolutions included: (1) adoption of audited financial statements for FY 2024-25, (2) declaration of a final dividend, (3) re-appointment of Managing Director Nivrutti Pandurang Kedar, (4) sub-division of equity shares from face value of Rs. 10 to Rs. 1 (1 share to become 10 shares), (5) alteration of the capital clause of the MOA, (6) appointment of Nuren Lodaya & Associates as secretarial auditor, and (7) approval of fees/commission for non-executive director Atharva Nivrutti Kedar. Out of 2,831 shareholders on record date, only 40 attended via VC (3 promoters, 37 public). Approximately 45.25% of total outstanding shares (1.13 crore out of 2.49 crore shares) were polled.
The 1:10 stock split (from Rs. 10 to Rs. 1 face value) will increase the number of shares tenfold and improve liquidity and affordability for retail investors. The final dividend rewards shareholders, and the clean 100% approval on all resolutions — including the stock split — signals strong shareholder support with no dissent. The very low public attendance (37 shareholders) and short meeting duration indicate limited retail engagement.