Voting Results and Scrutinizer Report for the 89th AGM.
RAJPALAYAM · price
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Rajapalayam Mills Limited held its 89th Annual General Meeting on 29th August 2025 via video conferencing, lasting just 20 minutes (11:00 AM to 11:20 AM). All 8 resolutions were passed with the required majority. Key items included adoption of audited financial statements for FY25, declaration of a dividend of Re.0.50 per share for FY 2024-25, re-appointment of two directors (P.R. Venketrama Raja and P.V. Abinav Ramasubramaniam Raja) retiring by rotation, appointment of M.R.L. Narasimha as secretarial auditor for 5 years, ratification of cost auditor remuneration, approval of continuing MD remuneration up to 31-05-2027, and a special resolution to enhance board borrowing powers and amend articles of association. Voting participation was 60.6% of outstanding shares (55.87 lakh shares), with promoter group (51.88 lakh shares) voting unanimously in favour. All ordinary resolutions passed with over 99.99% approval, while the two special resolutions passed with 99.90% and 99.90% in favour respectively.
Shareholders approved a modest dividend of Re.0.50 per share and re-confirmed the existing management, signaling continuity. The strong voting margins (above 99.9% for all items) suggest no meaningful shareholder dissent, and the borrowing powers enhancement could facilitate future expansion or debt-raising activities.