Notice for 42nd annual general meeting
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Sibar Auto Parts Ltd has issued the notice for its 42nd AGM to be held on Saturday, 27th September 2025 at 2:30 PM via Video Conferencing (VC/OAVM). Key items on the agenda include adoption of FY 2024-25 audited financial statements, reappointment of Mrs. Pemmasani Sugunamma (retiring by rotation), appointment of M/s. Chunduru & Co as new Statutory Auditors (filling the casual vacancy caused by the resignation of M/s. P. Lakshmana Rao & Co on 13 August 2025) for a 5-year term at Rs. 2,00,000 per annum, reappointment of Shri. Pemmasani Madhu Pratap as Whole-Time Director for 3 years at Rs. 33,00,000 per annum plus 3% commission on net profits, and appointment of M/s. P.S. Rao & Associates as Secretarial Auditors for 5 years. Financial highlights shared in the explanatory statement show total revenue rose to Rs. 2,211.68 lakhs (from Rs. 1,988.39 lakhs in FY 2023-24), while net loss narrowed to Rs. 67.92 lakhs (from Rs. 139.03 lakhs). Remote e-voting window is 24-26 September 2025, with cut-off date 20 September 2025.
Shareholders should vote on key resolutions including a change of statutory auditor and approval of executive remuneration before the 26 September 2025 e-voting deadline. The company remains loss-making at the net level, though losses have roughly halved year-on-year and revenue grew around 11%, which is a mildly positive operational signal. The 3% net-profit-linked commission for the Whole-Time Director is contingent on future profitability.