REC Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 27, 2025.
RECLTD · price
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REC Limited, a Maharatna PSU under the Ministry of Power, held its 56th AGM on August 27, 2025 via video conferencing, attended by 172 shareholders. Nine resolutions were placed before shareholders, including adoption of FY25 audited financial statements, declaration of a final dividend on equity shares, appointment of Shri Jitendra Srivastava as Chairman & Managing Director, appointment of two Independent Directors, approval for private placement of securities, and appointment of the Secretarial Auditor. Statutory Auditors issued an unqualified report and the CAG gave 'Nil' comments on the FY25 financial statements. The Chairman also released REC's 2nd ESG Report for FY 2024-25. The Secretarial Auditor noted that for part of FY25, the Board and some committees did not have the required number of Independent Directors; the company clarified that as a Government Company, director appointments are made by the President of India via the Ministry of Power. Voting results on all resolutions will be filed with stock exchanges within the prescribed statutory timelines.
This is a routine AGM proceedings disclosure with no material surprises. The final dividend, CMD appointment confirmation, and private placement approval are key items awaiting vote results, which may act as a near-term catalyst. The flagged Independent Director composition gap is explained by government-controlled appointments and is unlikely to be a concern for most investors.