Welspun Corp Limited has informed the Exchange about Shareholders meeting
WELCORP · price
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Welspun Corp Limited held its 30th Annual General Meeting on July 31, 2025 at 4:00 PM via video conferencing, and all 8 resolutions were approved with the requisite majority. Shareholders approved the audited standalone and consolidated financial statements for FY25 with 99.99% in favour. Declaration of dividend on equity shares received 100% approval, as did the ratification of the Cost Auditor's remuneration and appointment of Secretarial Auditors for a 5-year term. Retirement by rotation of Mr. Rajesh R. Mandawewala was approved with 90.03% support. Two special resolutions also passed: revision in the MD and CEO's remuneration (99.22% in favour) and payment of commission to Non-Executive Chairman Mr. Balkrishan Goenka (87.68% in favour, the lowest of the resolutions). Around 74.36% of total shares participated in voting, from a base of 1,29,723 shareholders.
For shareholders, the approval of the dividend resolution confirms an equity dividend payout for FY25. The relatively lower vote (87.68%) for the Chairman's commission reflects some pushback from institutional investors on executive pay, though both special resolutions passed comfortably. No material stock price impact is expected as all items were standard AGM business.