Copy of minutes and Chairman Speech of AGM held on September 29, 2025 enclosed
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Sugal & Damani Share Brokers Ltd held its 32nd AGM on September 29, 2025 via video conferencing, with all six resolutions passed with overwhelming shareholder support (99.997% in favor on nearly 47.46 lakh votes polled). For FY25, the company reported a sharp jump in gross income to Rs. 2,613.75 lakhs (up from Rs. 638.71 lakhs in FY24) and net profit of Rs. 474.92 lakhs (up from Rs. 231.11 lakhs). A key highlight is that the company has completed the surrender of its NSE, BSE, and CDSL memberships, with growth now driven by a new land development and plotting segment spanning four Chennai projects. The board skipped any FY25 dividend to retain funds for the land business, appointed Ms. Gayathri Sandeep as independent director for five years, and reappointed retiring directors Mr. Prasan Chand Jain and Mr. S. Vinodh Kumar.
Shareholders approved all resolutions comfortably, but the surrender of stock exchange memberships is a major strategic shift away from broking toward real estate — investors should watch for execution risk on the new land projects. Skipping the dividend despite higher profits means cash is being ploughed back into land development, which may limit near-term shareholder returns.