Southern Petrochemical Industries Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 23, 2025
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SPIC held its 54th AGM on September 23, 2025, via video conferencing, chaired by Mr. Ashwin C Muthiah with all directors present except two TIDCO nominees. Shareholders approved the audited financial statements (standalone and consolidated) for FY ended March 31, 2025, and declared a dividend of Rs. 2.00 per equity share (face value Rs. 10). Key appointments approved include Mr. E Balu as Director (retiring by rotation), Thiru. V Dakshinamoorthy (IAS) as TIDCO nominee director, and M/s. B Chandra & Associates as Secretarial Auditors for five years from FY 2025-26. Remuneration to Non-Executive Directors for FY 2024-25 was approved via special resolution, and cost auditor remuneration was ratified. The Chairman discussed global agriculture/fertilizer sector challenges, India's fertilizer industry outlook, the company's financial performance, ESG and green energy initiatives, and CSR activities. Statutory auditors had no adverse observations, and the meeting concluded at 2:32 PM after a 32-minute session.
The Rs. 2.00 per share dividend is a tangible return for shareholders, while the clean auditor report and smooth approval of all resolutions reflect stable governance. No material surprises were disclosed, so near-term stock impact is likely neutral, though the dividend is mildly positive for income-focused investors.