Seshasayee Paper and Boards Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on Jun 14, 2025. Further, the company has informed the Exchange regarding voting results.
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Seshasayee Paper and Boards Limited held its 65th AGM via video conference on June 14, 2025, with 451 members holding 3.08 crore shares participating. All eight resolutions were passed with overwhelming majority (over 99% votes in favour), including adoption of FY25 financial statements, declaration of a 125% dividend (Rs. 2.50 per share) on 6.31 crore equity shares, re-appointment of Chairman N. Gopalaratnam, and re-appointment of Ganesh Balakrishna Bhadti as Executive Director (Operations & Projects) for 3 years from July 23, 2025. S. Srinivas was appointed as Director (Finance) & Secretary for 3 years. The Chairman reported FY25 PAT of Rs. 105 crore (down from Rs. 259 crore) due to lower realisations and higher wood costs, despite record production of 2,46,431 tonnes. The company maintained a net debt-free position and outlined plans to invest Rs. 750-800 crore over 2 years to expand capacity from 2.55 lakh tonnes to 4 lakh tonnes through Project MDP-IV and the newly acquired third unit (ex-Servalakshmi Paper).
Shareholders will receive a dividend of Rs. 2.50 per share, with a record date of June 4, 2025. Despite weak industry conditions and a sharp drop in profits, the dividend payout, zero net debt, and forward-looking capacity expansion plans (backed by Rs. 750-800 crore investment) suggest management confidence in long-term growth, though near-term challenges from cheaper imports and higher wood costs may keep stock sentiment cautious.