DIC India Limited conducted its 77th Annual General Meeting (AGM) on March 25, 2025, via two-way Video Conferencing (VC)/Other Audio Visual Means (OAVM), adhering to the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) guidelines. The meeting provided an overview of the company’s financial performance for the year ending December 31, 2024, and updates on key resolutions.

The AGM was attended by several key members of the company, including the Chairman Mr. Rajeev Anand, Independent Directors, and the Managing Director & CEO, Mr. Manish Bhatia. A total of 52 shareholders participated in the meeting, with votes being cast electronically both via remote e-voting prior to the AGM and e-voting during the meeting.

Key Resolutions and Voting: The resolutions discussed during the AGM included the adoption of audited financial statements for FY 2024, the reappointment of directors, declaration of dividends, and the appointment of new auditors. Among the key resolutions passed, the shareholders approved a final dividend of INR 4 per equity share for the financial year ended December 31, 2024.

Director and Auditor Changes: The AGM also witnessed changes in the company’s board structure. Mr. Ji Xiang Jason Lee was re-appointed as a Non-Executive Non-Independent Director after retiring by rotation. Additionally, Mr. Hayato Kashiwagi was appointed as a Non-Executive Non-Independent Director of the company, expanding the board’s expertise.

The meeting also highlighted changes in the company’s auditor structure, with M/s PI & Associates appointed as the Secretarial Auditor, and M/s Chandra Wadhwa & Co. appointed as the Cost Auditor for the upcoming financial year.

The voting results were communicated to the stock exchanges, and all resolutions were passed with overwhelming support. The Chairman thanked all participants for their ongoing support and participation in the AGM.

For the detailed voting breakdown, the report by the Scrutinizer, Ms. Binita Pandey, was shared, which confirmed the high approval rates for all the resolutions put forth during the meeting.

This AGM marks an important step for DIC India Limited as it looks to continue its growth trajectory while strengthening governance with the reappointment of experienced board members and the appointment of new auditors. The company also provided necessary disclosures as per the SEBI regulations regarding its corporate governance and financial affairs.

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