NewsStocksIsgec Heavy Engineering's 92nd AGM: All Resolutions Passed, Key Management Changes ApprovedIsgec Heavy Engineering's 92nd AGM: All Resolutions Passed, Key Management Changes Approved
Isgec Heavy Engineering Limited held its 92nd Annual General Meeting on September 16, 2025. The virtual meeting saw 80.97% voting turnout, with shareholders approving all ten resolutions. Key outcomes include adoption of financial statements, declaration of Rs. 5.00 per share dividend, appointment of new independent directors Rajiv Roy Chaudhury and Vivek Dhir, and re-designation of Kishore Chatnani and Sanjay Gulati as Joint Managing Directors. The company also ratified cost auditor remuneration and appointed M/s Pramod Kothari & Co. as Secretarial Auditor.
*this image is generated using AI for illustrative purposes only.
Isgec Heavy Engineering Limited, a prominent player in the heavy engineering sector, successfully concluded its 92nd Annual General Meeting (AGM) on September 16, 2025. The virtual meeting, which lasted from 11:00 AM to 11:43 AM, saw active participation from shareholders, with all ten proposed resolutions receiving approval.
Key Highlights
- Shareholder Participation: Out of 38,550 shareholders on record, 84 attended the AGM through video conferencing, including five promoters and 79 public shareholders.
- Voting Turnout: 80.97% of outstanding shares participated in the voting process, which included both remote e-voting and e-voting during the meeting.
- Financial Statements: Shareholders approved the adoption of both standalone and consolidated financial statements for the fiscal year ending March 31, 2025.
- Dividend Declaration: A dividend of Rs. 5.00 per equity share was declared and approved for the financial year 2024-25.
Management Restructuring
The AGM marked significant changes in the company's leadership structure:
New Independent Directors:
- Mr. Rajiv Roy Chaudhury (DIN: 03545734)
- Mr. Vivek Dhir (DIN: 00774349)
Re-appointments and Re-designations:
- Mr. Kishore Chatnani (DIN: 07805465) was re-appointed as a director and re-designated as Joint Managing Director.
- Mr. Sanjay Gulati (DIN: 05201178) was re-designated as Joint Managing Director.
Other Key Resolutions
- Cost Auditor Remuneration: The shareholders ratified the remuneration for the cost auditors for the financial year ending March 31, 2026.
- Secretarial Auditor: M/s Pramod Kothari & Co., Practicing Company Secretary, was appointed as the Secretarial Auditor of the company.
Voting Results
All resolutions were passed with overwhelming majority:
| Resolution | Votes in Favor |
|---|---|
| Adoption of financial statements | 99.99% |
| Dividend declaration | 99.99% |
| Appointment of auditors | 99.99% |
| Re-appointment of Mr. Kishore Chatnani as director | 99.82% |
| Appointment of Mr. Rajiv Roy Chaudhury as independent director | 99.96% |
| Appointment of Mr. Vivek Dhir as independent director | 99.99% |
| Re-designation of Mr. Kishore Chatnani as Joint Managing Director | 100.00% |
| Re-designation of Mr. Sanjay Gulati as Joint Managing Director | 99.99% |
The strong shareholder support for all resolutions indicates confidence in the company's management and strategic direction. With these key appointments and restructuring, Isgec Heavy Engineering appears well-positioned for its next phase of growth and development.
Historical Stock Returns for Isgec Heavy Engineering
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.24% | +1.79% | -7.50% | -31.28% | -42.57% | +44.01% |
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