Notice of 51st AGM and Full Annual Report for the FY2024
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Stovec Industries Ltd, a subsidiary of Netherlands-based SPGPrints Group, has filed the notice for its 51st Annual General Meeting scheduled for Monday, 5th May 2025 at 11:30 a.m. via video conferencing, along with the full Annual Report for the financial year ended December 31, 2024. The company reported strong financial results for 2024, with revenue rising to ₹2,345.70 million from ₹2,072 million in 2023, profit before tax growing to ₹174.49 million (from ₹114 million), and profit after tax reaching ₹129.61 million. Earnings per share improved to ₹62.07 from ₹43.28 in the previous year. Key financial ratios saw significant improvement: EBITDA margin rose to 9.46% (up 29.45%), return on net worth increased to 9.78% (up 69.81%), and return on capital employed grew to 14.21% (up 72.64%). The company's Chairman Khurshed M. Thanawalla announced his retirement in his address, expressing optimism about 2025 and beyond amid positive textile industry trends including recovering exports and government support measures.
Shareholders should note the AGM date (5th May 2025) for voting and participation. The strong year-on-year improvement across all major financial metrics, combined with the dividend distribution reducing net worth, suggests good operational performance and potential shareholder rewards, though the Chairman's retirement could introduce some leadership transition uncertainty.