Shiva Mills Limited has informed the Exchange regarding Proceedings of 10th Annual General Meeting held on August 21, 2025
SHIVAMILLS · price
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Shiva Mills Limited held its 10th AGM on August 21, 2025, via video conferencing, attended by 42 members (3 promoters and 39 public). Six resolutions were tabled: adoption of audited financial statements for FY ended March 31, 2025; re-appointment of Sri S K Sundararaman as a Director (retiring by rotation); modification of minimum remuneration for Managing Director Sri S V Alagappan and Joint Managing Director Smt A Lalitha at Rs. 3,00,000/month basic salary plus allowances, effective August 31, 2025 to August 30, 2027 (special resolutions); appointment of Sri R Dhanasekaran as Secretarial Auditor for 5 years (April 1, 2025 to March 31, 2030); and ratification of Rs. 1,00,000 remuneration for Cost Auditor Sri M Nagarajan. The Chairman briefed members on spinning industry challenges and the company's outlook. Voting was conducted electronically, with results to be announced by August 23, 2025.
Minor impact for shareholders — the resolutions are largely procedural and confirm director remuneration and auditor appointments. The MD and Joint MD remuneration modification ensures minimum guaranteed pay even in years of inadequate profits, which signals cautious board planning around potential weak earnings. E-voting results due by August 23, 2025 will confirm shareholder approval.