Submission of Notice of 29th AGM along with Annual Report 2024-25
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Awaiting price reaction for this filing.
Technichem Organics Limited has filed the Notice of its 29th Annual General Meeting and the Annual Report for FY 2024-25. The AGM is scheduled for Wednesday, 24th September 2025 at 12:00 noon via video conferencing. Four key items are on the agenda: (1) adoption of audited financial statements for FY ending 31st March 2025, (2) re-appointment of Mr. Bharat J. Pandya as Director (retiring by rotation), (3) appointment of new statutory auditors M/s. B. K. Chavda & Co. for a 5-year term (till the 34th AGM in 2030) replacing the outgoing auditors M/s. Devpura Navlakha & Co., with audit remuneration fixed at Rs. 1,25,000 for FY 2025-26, and (4) a special resolution to increase the remuneration of Whole-Time Director Mr. Piyush M. Nathwani from Rs. 21 lakh to Rs. 36 lakh per annum (a ~71% increase), effective 1st February 2025 till 16th July 2027. The company's reported turnover for FY 2023-24 was Rs. 46.39 crore. E-voting window opens 21st September 2025 and closes 23rd September 2025.
Routine compliance filing, but shareholders should review the two special items carefully: the change of statutory auditor (replacing the existing auditor with a new firm for a full 5-year tenure) and the substantial increase in executive director remuneration. The WTD pay hike is sizeable and warrants scrutiny, especially given the company's disclosure that profits have been inadequate, with high interest costs and market competition cited as concerns.