Voting Result and Scrutinizer Report 32nd AGM FY 2024-2025
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The company held its 32nd Annual General Meeting on September 29, 2025, via video conferencing, with all five resolutions passed by shareholders. Resolution 1 (adoption of FY25 audited financial statements) received overwhelming support with 98.40% votes in favour. The remaining four resolutions - re-appointment of director Cyrus Bhot, appointment of independent directors Poojaben Parekh and Pankaj Jain (each for a 5-year term), and appointment of Suprabhat & Co as Secretarial Auditor for 5 years (FY26-FY30) - each passed with 89.89% in favour but saw notable dissent of about 10.11% from public non-institutional shareholders. Only 10.79% of total shareholding (37,63,775 shares out of 3,48,80,000) participated in voting, indicating very low turnout.
All AGM business was approved, so the financial statements stand adopted and new directors/auditors are formally appointed, which is a routine positive. However, the low voter turnout and roughly 10% dissent on director and auditor appointments signal some shareholder dissatisfaction that investors may want to monitor going forward.