Vesuvius India 35th AGM: All Resolutions Passed, Voting Results Filed
Vesuvius India Limited's 35th AGM approved a ₹1.50 dividend and director reappointments, reporting a historic turnover of ₹2,104 crore for FY25. All five resolutions passed with strong majority, and the Scrutinizer's Report was filed on May 8, 2026.
*this image is generated using AI for illustrative purposes only.
Vesuvius India Limited convened its 35th Annual General Meeting (AGM) on Thursday, May 7, 2026, at G. D. Birla Sabhagar, Kolkata. The meeting commenced at 10:30 A.M. (IST) and concluded at 12:55 P.M. (IST), with 435 members including proxies in attendance. Subsequently, the Company filed the consolidated voting results and Scrutinizer's Report with the stock exchanges on May 8, 2026, confirming that all five resolutions were passed with the requisite majority. The Company's financial year ends on December 31 every year.
Historic Turnover Milestone and Financial Performance
Chairman Mr. Biswadip Gupta provided an overview of the Company's performance during financial year 2025, describing the year as marked by steady and disciplined progress towards sustainable growth. He highlighted that the Company achieved a historic milestone of ₹2,104 crore in turnover during the year. Despite input-cost volatility, the Company's profitability remained resilient, attributed to strong execution discipline, operational efficiency, and disciplined capital allocation.
Mr. Patrick Andre, Chief Executive of Vesuvius plc. and Non-Executive Director of the Company, also addressed shareholders, congratulating the Board and management for the strong performance delivered during 2025. He noted that despite challenging global market conditions and a decline in global steel production, India remained one of the standout markets, supported by strong growth in steel production, infrastructure investment, industrial expansion, and domestic demand. Mr. Andre reaffirmed the Vesuvius Group's confidence in the long-term prospects of Vesuvius India and its continued support through technology, expertise, and capital.
Dividend Declaration and Share Sub-Division
The Board of Directors recommended a final dividend for the financial year ended December 31, 2025. Key details of the dividend and the equity share sub-division are summarised below:
| Parameter: | Details |
|---|---|
| Dividend Per Share: | ₹1.50 per equity share |
| Face Value (Post Sub-division): | ₹1 per equity share |
| Total Dividend Outgo: | Rs. 3,044 lakhs |
| Financial Year: | Ended December 31, 2025 |
| Share Sub-division Ratio: | Each ₹10 share sub-divided into ten ₹1 shares |
The Chairman informed members that the share sub-division had improved liquidity and broadened accessibility for retail shareholders. Shareholders were also advised to update their bank account and KYC details to enable payment of dividend through electronic mode in accordance with applicable SEBI requirements. Applicable income tax would be deducted from the dividend before payment.
Strategic Highlights and Operational Developments
The Chairman highlighted the Company's continued focus on strengthening its domestic manufacturing footprint, enhancing supply-chain resilience, and advancing localisation initiatives. Strategic capacity additions and operational improvements were noted as enabling the Company to improve reliability, scalability, and responsiveness, while leveraging global expertise to deepen technological capabilities. Innovation was emphasised as a core strategic differentiator, with increasing integration of technological capabilities to enhance customer productivity, process stability, and cost competitiveness. Mr. Andre specifically referenced the operationalisation of the new Vizag manufacturing facility and the Vesuvius Group Board's visit to India as evidence of the Group's continued commitment to the Indian market.
AGM Voting Results
The voting was facilitated through National Securities Depository Limited (NSDL), with remote e-voting open from May 3, 2026 (9:00 A.M. IST) to May 6, 2026 (5:00 P.M. IST), and e-voting at the AGM venue available for 35 minutes after the meeting's conclusion. The cut-off date for voting rights was April 30, 2026. Mr. Anjan Kumar Roy, Practicing Company Secretary (FCS: 5684, C.P. No.: 4557), proprietor of M/s. Anjan Kumar Roy & Co., was appointed as the Scrutinizer. The e-voting data was unblocked at 2:15 P.M. on May 7, 2026, in the presence of independent witnesses Sandip Paul and Sayan Bhattacharyya. The total number of shareholders on the record date was 34,613, and 81.94% of outstanding shares were polled across all resolutions. The resolution-wise summary of voting outcomes is presented below:
| Resolution: | Description: | Total Votes Polled: | Votes in Favour: | % in Favour: | Votes Against: | % Against: |
|---|---|---|---|---|---|---|
| Resolution 1 | Adoption of Audited Financial Statements (FY ended Dec 31, 2025) | 166304546 | 166299985 | 99.9973% | 4561 | 0.0027% |
| Resolution 2 | Declaration of Final Dividend on Equity Shares | 166304546 | 166299974 | 99.9973% | 4572 | 0.0027% |
| Resolution 3 | Reappointment of Mr. Pascal Herve Martin Marie Genest (DIN: 09473571) | 166304546 | 165629592 | 99.5941% | 674954 | 0.4059% |
| Resolution 4 | Reappointment of Mr. Mohinder Pradip Singh Rajput (DIN: 10608199) | 166304521 | 166131637 | 99.8960% | 172884 | 0.1040% |
| Resolution 5 | Ratification of Remuneration of Cost Auditors (FY ending Dec 31, 2026) | 166304546 | 166298455 | 99.9963% | 6091 | 0.0037% |
All five resolutions were passed with the requisite majority. No invalid votes were recorded across any resolution. The Scrutinizer confirmed that all relevant records relating to remote e-voting and e-voting during the AGM are under safe custody and will be handed over to the Chairman or the Company Secretary for preservation after the minutes of the meeting are signed. The consolidated results have been submitted to the stock exchanges in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and are also available on the Company's website at www.vesuviusindia.in pursuant to Regulation 30(8) of SEBI LODR.
Historical Stock Returns for Vesuvius
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.40% | -2.29% | -10.95% | -3.03% | -17.89% | +351.72% |
How will the new Vizag manufacturing facility contribute to Vesuvius India's revenue growth and market share in the next 2-3 years?
Given India's strong steel production growth, what capacity expansion plans does Vesuvius India have to capitalize on increasing domestic demand beyond the current ₹2,104 crore turnover milestone?
How might the share sub-division's improved retail accessibility impact Vesuvius India's stock liquidity and institutional versus retail investor composition going forward?
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