Intimation of Annual General Meeting to be held on September 30, 2025
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SMT Engineering Ltd (BSE: 538563) has called its Annual General Meeting for September 30, 2025 at 12:30 PM via video conferencing. The agenda includes adoption of audited standalone and consolidated financial statements for FY 2024-25, and re-appointment of Managing Director Ajay Jaiswal (who retires by rotation and holds a 21.60% stake in the company). A new Statutory Auditor, M/s Anil Kamal Garg & Company, is proposed for a 5-year term (till 2030), replacing outgoing NKSJ & Associates, with the annual audit fee more than doubling from Rs. 35,000 to Rs. 75,000 due to expanded scope including subsidiary consolidation. Three new Independent Directors (Mr. Abhishek Kanungo, Mr. Rajendra Saxena, and Mrs. Varsha Bhadoriya) are proposed for 5-year terms, alongside the appointment of P.S. Tripathi & Associates as Secretarial Auditor for FY 2025-26 to 2029-30. Remote e-voting runs September 27-29, 2025, with September 23 as the cut-off date and book closure from September 24 to 30, 2025.
Routine AGM business with no headline catalysts for the stock. The significant hike in audit fees, three new independent directors, and a change in auditors signal stronger governance and possibly an expanded business footprint, but also slightly higher recurring compliance costs. Shareholders should watch the consolidated financials and any promoter-related party transactions in the FY 2024-25 results.