HBL Engineering Members Approve 100% Dividend at AGM

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26 Aug, 2025 12:21

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HBL Engineering Limited held its 39th Annual General Meeting (AGM) on September 25, 2025, where members approved all resolutions with the requisite majority, including the declaration of a 100% dividend. The meeting was conducted through video conferencing, in compliance with regulatory guidelines.

Key highlights of the AGM included the adoption of audited financial statements, declaration of a 100% dividend, and the re-appointment of Dr. Aluru Jagadish Prasad as Chairman and Managing Director.

The resolutions were passed via remote e-voting and instapoll e-voting, ensuring broad participation from shareholders. The results were declared on September 25, 2025, and are available on the company's website.

The board declared a dividend of 100% (₹1 per share).

Details of Resolutions Passed:

Voting Details:

• Adoption of Audited Financial Statements: Out of 19,420,450 votes polled, 130,653 votes were against the resolution, with 164,127 votes declared invalid.
• Declaration of 100% Dividend: Out of 19,424,337 votes polled, 1,426 votes were against the resolution, with 155,100 votes declared invalid.
• Appointment of Director (Ms. Deeksha Mikkileneni): Out of 20,736,618 votes polled, 2,528,386 votes were against the resolution, with 158,987 votes declared invalid.
• Ratification of Statutory Auditors' Appointment: Out of 19,420,450 votes polled, 931 votes were against the resolution, with 158,987 votes declared invalid.
• Re-appointment of Dr. Aluru Jagadish Prasad as Chairman and Managing Director: Out of 20,736,618 votes polled, 5,121,991 votes were against the resolution, with 158,987 votes declared invalid.
• Appointment of Secretarial Auditor: Out of 19,416,872 votes polled, 132,622 votes were against the resolution, with 162,565 votes declared invalid.
• Ratification of Cost Auditor's Remuneration for FY 2025-26: Out of 19,420,450 votes polled, 1,022 votes were against the resolution, with 158,987 votes declared invalid.

The meeting was chaired by Dr. A J Prasad, Chairman and Managing Director, with G B S Naidu, Company Secretary, also present. The board appointed CS Vinay Babu Gade as the scrutinizer to oversee the e-voting process.

HBL Engineering is focused on strengthening its engineering competencies and exploring new business opportunities, as detailed in the Management Discussion and Analysis (MDA) section of the annual report.

The meeting concluded at 04:52 pm.