Wockhardt Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 08, 2025
WOCKPHARMA · price
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Wockhardt Limited submitted the voting results and scrutinizer's report for its 26th AGM held on August 8, 2025, covering 151,877 shareholders. All 9 resolutions were passed, including adoption of FY25 audited financial statements, re-appointment of Dr. Murtaza Khorakiwala (retiring by rotation), ratification of cost auditor remuneration of Rs. 3.35 lakh, and appointment of Mr. Virendra G. Bhatt as secretarial auditor for 5 years. Shareholders approved a hike in remuneration for Executive Director Dr. Huzaifa Khorakiwala and Managing Director Dr. Murtaza Khorakiwala from Rs. 2.80 crore to Rs. 4 crore per annum, with the board also given authority to raise it further up to Rs. 6 crore without fresh shareholder approval. The biggest item was authorization to raise up to Rs. 2,000 crore through a QIP or other public/private offerings. The material related party transactions resolution saw the highest dissent at about 15.37% against, while promoter shares (7.97 crore shares) voted 100% in favor of all items except the related party one, where they abstained as they are interested parties.
The board now has a green light to raise up to Rs. 2,000 crore through equity or securities, which could dilute existing shareholders' stake depending on pricing. Higher executive pay and the board's broad authority to raise it further to Rs. 6 crore without shareholder re-approval is a governance point minority investors should note.