This is to inform that shareholders of Sharat Industries Limited in the 35th Annual General Meeting has approved the re-appointment of Mr. Harihar Venkata Muthyam Independent Director ....
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At the 35th Annual General Meeting held on 27 September 2025, shareholders approved the re-appointment of Mr. Harihar Venkata Muthyam as Independent Director for a second 5-year term effective 28 September 2025. Founder Mr. Prasad Reddy Sabbella was re-appointed as Managing Director and his son Mr. Sharat Reddy Sabbella as Whole-Time Director, both for 5 years effective 1 April 2026. The authorized share capital was raised from ₹50 crore to ₹60 crore (5 crore to 6 crore shares of ₹10 each), requiring an amendment to the Memorandum of Association. M/s. BP & Associates was appointed as Secretarial Auditor for 5 years. Shareholders also approved material related party transactions with Katyayini Aqatech Private Limited and M/s. S P Enterprises.
Leadership continuity is preserved with the founder-promoter family (Prasad and Sharat Reddy Sabbella) remaining at the helm for another five years, signaling stability for retail investors. The 20% increase in authorized share capital creates room for future fundraising or stock splits but could be dilutive if new shares are issued. Approval of material related party transactions warrants investor attention to potential conflicts of interest.