Meeting Details
Satchmo Holdings Limited conducted its 22nd Annual General Meeting (AGM) on Tuesday, June 30, 2026 at 9:00 AM through Video Conferencing/Other Audio Visual Means (VC/OAVM). The meeting was conducted in compliance with the Companies Act, 2013 and Ministry of Corporate Affairs Circular No. 9/2025 dated September 22, 2025, which allows companies to conduct AGMs through video conferencing until further orders.
Attendance and Participation
Mr. Nitesh Shetty, Chairman & Managing Director, presided over the meeting. Other attendees included:
- Mr. L. S. Vaidyanathan, Executive Director
- Mr. Ananthanarayanan S., Independent Director & AC, NRC & SRC Chairman
- Mr. Krishnakumar NG, Independent Director
- Mr. Ramesh Karur Raghavendran, Executive Director Finance & CFO
- Mr. Prasant Kumar, Company Secretary & Chief Compliance Officer
- Mr. Pradeep Narayan, Executive Vice President-Operations
- CA Amitabha Niyogi of M/s KAMG & Associates (Statutory Auditors)
- Mr. Karthik SN of Kedarnath & Karthik Associates (Secretarial Auditor)
- Mr. Sudhindra K.S., Practicing Company Secretary (Scrutinizer)
Total of 61 members were present through video conferencing. Remote e-voting was available from Saturday, June 27, 2026 (9:00 AM) to Monday, June 29, 2026 (5:00 PM).
Business Items Discussed
The following ordinary and special business items were addressed:
1. Re-appointment of Mr. Ramesh Karur Raghavendran (DIN: 03572425) as Whole-time Executive Director Finance and Chief Financial Officer
2. Re-appointment and approval of remuneration for Mr. L. S. Vaidyanathan (DIN: 00304652) as Whole-time Director designated as Executive Director - Business Development
3. Approval of existing and new Material Related Party Transaction(s) under Regulation 23 of SEBI (LODR) Regulations, 2015
4. Approval for making Investments, giving Loans, giving guarantees and providing Securities under Section 185 and 186 of the Companies Act, 2013 in Satchmo Services Private Limited (Wholly Owned Subsidiary) or any other Persons/bodies Corporate in India
Shareholder Queries and Management Response
Eleven shareholders spoke during the meeting with various queries:
- Appreciation for company becoming debt-free and entering FMCG market
- Enquiries about product lines and online availability of products
- Questions about steps to improve profitability and increase revenue from facility business
- CAPEX requirements for next 2 years, current PE Ratio, market share, and future profitability
- Impact of war on company's profitability
- Product life cycle and expansion plans across PAN India stores
- Roadmap for next two years and CSR initiatives
- Request for site visits and personal meetings with management
- Suggestion for dividend distribution upon booking profits in coming years
The Chairman acknowledged all queries and explained that the company is making sincere efforts to achieve growth targets and is consistently focused on its new business.
Voting and Results
The Scrutinizer's Report and detailed voting results will be submitted separately and uploaded on the company's website (www.satchmoholdings.in) as per SEBI circular CIR/CFD/CMD/8/2015 dated November 04, 2015.
Attendance statistics:
- Total shareholders on record date: 20,861
- Shareholders present: 61 (1 promoter, 60 public)
- Total shares represented: 66,413,415 (45.54% of capital)
- Promoter holding represented: 65,273,350 shares (44.76%)
- Public holding represented: 1,140,065 shares (0.78%)
- 60 shareholders attended through video conferencing
Compliance Disclosure
This submission is made in compliance with Regulation 30 read with Schedule III - Para A of Part-A of the SEBI (LODR) Regulations, 2015.