Vesuvius India Limited has informed the Exchange regarding Minutes of 34th Annual General Meeting held on May 8, 2025.
VESUVIUS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vesuvius India filed the signed minutes of its 34th AGM held on May 8, 2025 in Kolkata, attended by 355 members in person representing 1.12 crore shares. Nine resolutions were put to vote and all passed with the requisite majority, including adoption of FY2024 audited financials, declaration of a dividend of Rs. 14.50 per share (total payout Rs. 29.43 crores), reappointment of directors Mr. Henry James Knowles and Mr. Nitin Jain, and appointment of M/s Anjan Kumar Roy & Co. as Secretarial Auditor for five years from January 1, 2025. Shareholders also approved a 1:10 stock split, changing the face value from Rs. 10 to Re. 1 per share, along with amendments to the Memorandum and adoption of new Articles of Association. The Chairman highlighted that 2024 was the company's highest-ever revenue and profit year, supported by new manufacturing facilities in Visakhapatnam (Mould Flux, AlSi Monolithic, and Basic Monolithic plants). The global Vesuvius Group reported FY2024 revenue of £1.82 billion, trading profit of £188 million, return on sales of 10.2%, and a 27% reduction in carbon intensity versus the 2019 baseline.
The approved stock split (1:10) should improve share liquidity and retail participation, while the Rs. 14.50 dividend signals healthy cash generation. All nine resolutions passing with overwhelming majority reflects strong shareholder alignment, though the new Articles of Association saw the lowest support at 79.89% in favour, indicating some dissent on governance changes.