Shiva Mills Limited has informed the Exchange regarding partial modification of MD and JMD.
SHIVAMILLS · price
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Shiva Mills reported audited FY25 results with revenue from operations rising to Rs 16,930.54 lakhs from Rs 15,791.91 lakhs, but the net loss widened to Rs 381.12 lakhs (vs Rs 324.91 lakhs). Q4 FY25 revenue fell to Rs 4,103.89 lakhs with a loss of Rs 76.83 lakhs. The Board has modified the remuneration of Managing Director Sri S V Alagappan and Joint Managing Director Smt A Lalitha, effective 31.8.2025 till 30.8.2027, subject to shareholder approval. No dividend was recommended for FY25. The auditors issued an unmodified opinion. The Board also re-appointed the Cost Auditor and Internal Auditor for FY26, and appointed a new Secretarial Auditor for five years from 1.4.2025 to 31.3.2030.
Continued losses and absence of dividend are negative for shareholders, while the higher revenue suggests top-line recovery is underway. The MD/JMD remuneration revision is a routine governance matter needing shareholder nod, with no change in leadership.