R M Drip and Sprinklers Systems Limited has issued an intimation regarding its 22nd Annual General Meeting (AGM) and dividend declaration.
Annual General Meeting Details
The 22nd Annual General Meeting of the company is scheduled to be held on Wednesday, 30th September 2026 at 2:00 P.M. (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The registered office of the company at Gat No. 475, Village Gonde, Taluka Sinnar, Nashik 422113, Maharashtra will be deemed to be the venue of the meeting.
The Notice of the AGM, together with the Explanatory Statement, has been sent to all Members whose names appeared in the Register of Members / List of Beneficial Owners as on 28th August 2026. The notice is also available on the company's website (www.rmdrip.com), BSE Limited (www.bseindia.com), National Stock Exchange of India Limited (www.nseindia.com), and Bigshare Services Private Limited's website (https://ivote.bigshareonline.com).
Dividend Declaration
The Board of Directors of the Company has recommended a dividend of ₹0.05 (Five Paise only) per equity share of ₹1/- each for the financial year ended 31st March 2026. This dividend recommendation is subject to the approval of the Members at the ensuing AGM.
Record Date for Dividend
The dividend, if approved by the Members at the AGM, will be paid after deduction of tax at source, as applicable, on or before 30 days from the date of approval by the Members at the AGM. Payment will be made to eligible Members whose names appear as beneficial owners as on the Record Date, based on the list furnished by National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) for equity shares held in dematerialized form.
Business to be Transacted at AGM
The AGM will address the following ordinary business:
1. To receive, consider and adopt the audited financial statements (including audited consolidated financial statements) for the financial year ended 31st March, 2026 and the Reports of the Directors and the Auditors thereon.
2. To declare a final dividend of ₹0.05 (Five paise only) per equity share of ₹1/- each for the financial year ended 31st March, 2026, as recommended by the Board of Directors.
3. To appoint a Director in place of Mr. Atharva Nivrutti Kedar (DIN: 09713023), Managing Director who retires by rotation and, being eligible, offers himself for re-appointment.
Director Re-appointment Details
Mr. Atharva Nivrutti Kedar (DIN: 09713023) is seeking re-appointment as Managing Director. Key details include:
- Date of first appointment: 12/04/2024
- Current remuneration: ₹4,00,000/- per month (same as last drawn)
- Shareholding in the company: 68,571 shares
- Educational qualification: Bachelor of Technology (B.Tech) in Civil Engineering from Manipal Institute of Technology
- Expertise areas: Civil engineering, hydraulics, fluid conveyance, structural design, project planning and execution
- No other directorships in listed companies
E-Voting Arrangements
The company has appointed M/s. CS Nuren Lodaya & Associates as Scrutinizer and Bigshare Services Pvt Ltd as the agency to provide e-Voting facility. The remote e-voting period begins on Saturday, 26th September 2026 at 09:00 AM and ends on Tuesday, 29th September 2026 at 05:00 PM.
Register Closure
The Register of Members and Share Transfer Register in respect of equity shares of the Company will remain closed from Thursday, 24th September 2026 to Wednesday, 30th September 2026 (both days inclusive).
Tax Implications
The notice clarifies that dividend paid or distributed by the Company after 1st April, 2020 is taxable in the hands of Members as per the Income Tax Act, 1961 as amended by the Finance Act, 2020.