Proceedings of the Sixth Annual General Meeting of the Company held on 11.07.2025 at 12.30 P.M. at the registered office of the Company.
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Shine Fashions (India) Ltd held its 6th AGM on July 11, 2025 at its registered office in Mumbai, with 6 members present in person (4 from Promoter/Promoter Group and 2 from Public). Shareholders approved the audited standalone and consolidated financial statements for FY 2024-25, and declared a dividend of 2.5% (Rs. 0.125 per equity share) on shares of face value Rs. 5 each. They approved increasing the authorised share capital from Rs. 5 crore to Rs. 13.50 crore (to accommodate 2.70 crore equity shares of Rs. 5 each), and approved a bonus issue of 7 new equity shares for every 1 existing share, totaling 2,35,06,000 bonus shares, by capitalising up to Rs. 11.75 crore from securities premium and P&L reserves. New statutory auditor M/s Gada Chheda & Co. LLP was appointed for 5 years, and M/s IPS & Associates was appointed as secretarial auditor for 5 years starting April 1, 2025.
The 7:1 bonus issue is the biggest positive for shareholders as it significantly expands the share count, though it typically dilutes per-share metrics without changing overall value. The small dividend of Rs. 0.125 per share is modest. Appointment of a new statutory auditor (Gada Chheda & Co. LLP) and elevation of family member Mrs. Binal Anish Mehta as Whole-Time Director are notable governance changes worth monitoring.