Pursuant to Regulation 34(1) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), we are submitting ....
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Shri Venkatesh Refineries (BSE scrip 543373) has submitted its 23rd AGM notice and annual report for FY 2024-25. The AGM will be held on September 30, 2025 at 11:00 AM via video conferencing. The Board has recommended a final dividend of 10% of paid-up capital, which works out to ₹1 per share, pending shareholder approval. Key items on the AGM agenda include adoption of financial statements, re-appointment of a director, approval of material related party transactions worth over ₹22,400 lakhs with related firms like Shri Balaji Oil Mills and Shrikrupa Ginners Pvt Ltd, and notably a proposal to migrate the company from the BSE SME platform to the Main Board of BSE and NSE. The company also proposes shifting its registered office from Jalgaon, Maharashtra to Mulund West, Mumbai. The chairman's letter noted a 2.58% growth in earnings per share despite challenges from low industrial growth and uncertain oil prices.
For shareholders, the proposed migration from BSE SME to the Main Board of BSE/NSE could meaningfully improve stock liquidity, visibility and institutional investor access. The ₹1/share dividend provides a direct cash return, while the office relocation to Mumbai signals a step toward a more professional corporate profile. Shareholders should review the sizeable related party transactions on the AGM agenda as they involve entities connected to directors.