Annual Report for Financial year 2024-25
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Veritas (India) Limited has notified BSE about its 40th Annual General Meeting scheduled for Friday, September 26, 2025 at 11:30 AM, to be held via Video Conferencing. The agenda includes adoption of audited standalone and consolidated financial statements for FY 2024-25, declaration of a 5% dividend (Rs. 0.05 per share on 2.68 crore equity shares of Re. 1 face value, totaling Rs. 13.40 lakh), re-appointment of Mr. Arun Agarwal as Director, appointment of M/s. SKJP & Associates as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), and approval of material related party transactions with Swan Corp Limited (holding company, up to Rs. 1,000 crore), Veritas Polychem Pvt Ltd (subsidiary, up to Rs. 50 crore), and Veritas Agro Ventures Pvt Ltd (subsidiary, up to Rs. 20 crore). The notice also seeks shareholder approval for appointing Ms. Bhagyashri Dixit as Independent Director for a five-year term effective August 13, 2025. The record date for dividend eligibility is September 19, 2025, and e-voting will be open from September 23 to September 25, 2025.
Routine annual compliance filing with AGM notice. The 5% dividend is modest given the small absolute payout of Rs. 13.40 lakh. The large proposed related party transaction cap of Rs. 1,000 crore with Swan Corp Limited (holding company) is noteworthy as it represents 24.40% of consolidated turnover and will require shareholder approval, though execution terms will be decided by the Board.