AGM Details

The 44th Annual General Meeting was held at 3:30 PM (IST) on Monday, 20 July 2026 through Video Conference/Other Audio-Visual Means with deemed venue at Registered Office at 34-A Kamaraj Road, Coimbatore - 641018.

Voting Results Declaration

Sri. M D Selvaraj, Scrutiniser submitted his report on remote e-voting and e-voting results. The Chairman declared results at 11:00 AM on 21 July 2026 at the Registered Office, confirming all resolutions were passed with requisite majority.

Resolutions Passed

Item No.1: Adoption of Annual Financial Statements (Ordinary Resolution)

  • Approved Audited Annual Financial Statements for financial year ended 31 March 2026
  • Including Statement of Profit and Loss (including Other Comprehensive Income), Statement of Cash Flows, Statement of Changes in Equity, Balance Sheet
  • Along with Reports of Board of Directors and Auditors
  • Voting Results: 19,17,954 votes FOR, 3 votes AGAINST, Nil invalid votes
  • Result: Passed as Ordinary Resolution

Item No.2: Declaration of Dividend (Ordinary Resolution)

  • Dividend declared for year 2025-26 at rate of ₹2.50 per equity share of ₹10 each fully paid up (25%)
  • To be paid out of current profits for financial year ended 31 March 2026
  • On 30,71,500 equity shares of ₹10 each
  • Total absorption: ₹76.79 lakhs (subject to deduction of tax at source)
  • Record date: 13 July 2026 for physical shareholders and end of business hours on 13 July 2026 for demat shareholders
  • Voting Results: 19,17,955 votes FOR, 2 votes AGAINST, Nil invalid votes
  • Result: Passed as Ordinary Resolution

Item No.3: Reappointment of Director Retiring by Rotation (Ordinary Resolution)

  • Sri. Sanjay Jayavarthanavelu (DIN: 00004505) reappointed as Director
  • Voting Results: 19,17,955 votes FOR, 2 votes AGAINST, Nil invalid votes
  • Result: Passed as Ordinary Resolution

Item No.4: Appointment of Statutory Auditors (Ordinary Resolution)

  • M/s. S. Krishnamoorthy & Co, Chartered Accountants (Firm Registration No. 001496S) appointed as Statutory Auditors
  • Replaces M/s. Subbachar & Srinivasan (Firm Registration No. 004083S), Chartered Accountants
  • Term: Five consecutive years from financial year 2026-27 to 2030-31
  • Tenure: From conclusion of 44th AGM till conclusion of AGM in 2031
  • Remuneration: As mentioned in annexed statement and as decided by Board of Directors from time to time
  • Voting Results: 19,17,954 votes FOR, 3 votes AGAINST, Nil invalid votes
  • Result: Passed as Ordinary Resolution

Item No.5: Approval of Material Related Party Transactions with LMW Limited (Ordinary Resolution)

  • Approval to enter into agreements/contracts/business transactions with LMW Limited (formerly Lakshmi Machine Works Limited)
  • LMW Limited qualifies as Related Party under Section 2(76) of Companies Act, 2013 and Regulation 2(1)(zb) of SEBI Listing Regulations
  • Maximum amount: ₹200 Crores (Rupees Two Hundred Crores only)
  • Validity period: From conclusion of this AGM till conclusion of next AGM
  • Transactions may exceed 10% of annual consolidated turnover threshold as per Schedule XII of Listing Regulations
  • Voting Results: 92,559 votes FOR, 2 votes AGAINST, Nil invalid votes
  • Result: Passed as Ordinary Resolution

Item No.6: Ratification of Remuneration Payable to Cost Auditor (Ordinary Resolution)

  • Sri. G. Sivagurunathan, Cost Accountant appointed to conduct cost audit
  • Audit coverage: Textile division and Engineering Division - Gears unit
  • Financial year: Ending 31 March 2027
  • Remuneration: ₹1,50,000/- plus reimbursement of out-of-pocket expenses plus applicable taxes
  • Voting Results: 19,17,955 votes FOR, 2 votes AGAINST, Nil invalid votes
  • Result: Passed as Ordinary Resolution