Proceedings of 89th AGM.
RAJPALAYAM · price
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Rajapalayam Mills held its 89th AGM on 29 August 2025 via video conferencing from 11:00 AM to 11:20 AM, with 63 members attending. Chairman P.R. Venketrama Raja was absent due to an overseas business trip, and Independent Director M. Rathinasamy chaired the meeting. Eight resolutions were transacted, including adoption of FY25 financial statements, declaration of a dividend of Re. 0.50 per share, re-appointment of two directors retiring by rotation, appointment of a new Secretarial Auditor for five years (FY26–FY30) with a fee of Rs. 85,000, ratification of Cost Auditor remuneration of Rs. 2.25 lakh, and approval for continuing MD remuneration for Smt. P.V. Nirmala Raju at 5% of net profits (minimum Rs. 240 lakh p.a.) up to 31 May 2027. A Special Resolution was passed to raise the Board's borrowing limit to Rs. 850 crore and amend the Articles of Association accordingly. Voting results will be filed with BSE within two working days.
Shareholders get a small dividend of Re. 0.50 per share for FY25, while the sharp increase in the borrowing ceiling to Rs. 850 crore signals potential capacity expansion or higher debt for future growth. The MD's guaranteed minimum pay of Rs. 240 lakh p.a. protects leadership continuity through May 2027.