LMW Limited (formerly Lakshmi Machine Works Limited) has announced that its 62nd Annual General Meeting (AGM) will be held on Thursday, July 17, 2025, at 03:30 PM India Standard Time (IST). The meeting will be conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM), with the deemed venue being the company's Corporate Office in Coimbatore.
| Particulars | Details |
|---|---|
| AGM Date | Thursday, July 17, 2025 |
| AGM Time | 03:30 PM IST |
| Mode | Video Conferencing (VC) / Other Audio Visual Means (OAVM) |
| Record Date for Dividend (if declared) | Thursday, July 10, 2025 |
| Book Closure Dates | Friday, July 11, 2025 to Thursday, July 17, 2025 (both days inclusive) |
| Remote e-voting Period | Monday, July 14, 2025 (09:00 AM IST) to Wednesday, July 16, 2025 (05:00 PM IST) |
Key Agenda Items for Shareholder Approval:
The company has outlined several ordinary and special business items for shareholder consideration and approval at the upcoming AGM.
Ordinary Business:
- Adoption of Financial Statements: To receive, consider, and adopt the standalone and consolidated Annual Financial Statements for the financial year ended March 31, 2025, including the Statement of Profit and Loss, Cash Flow Statement, Statement of Changes in Equity, Balance Sheet, along with the Board's Report and Auditors' Report.
- Declaration of Dividend: To declare a dividend for the financial year 2024-25. If declared, the dividend will be paid within 30 days from the date of declaration to shareholders whose names appear on the Register of Members as of July 10, 2025.
- Re-appointment of Director: To re-appoint Sri Jaidev Jayavarthanavelu (DIN: 07654117), who retires by rotation and, being eligible, offers himself for re-appointment.
Special Business:
- Appointment of Secretarial Auditors: To consider the appointment of MDS & Associates LLP, Company Secretaries (LLPIN: ABZ-8060), Coimbatore, as Secretarial Auditors for a first term of five consecutive financial years, commencing from FY 2025-26. The proposed remuneration is ₹2,75,000 per annum, exclusive of taxes and out-of-pocket expenses.
- Ratification of Cost Auditor's Remuneration: To ratify the remuneration of ₹7,00,000 (Rupees Seven Lakhs Only) per annum, exclusive of applicable taxes and reimbursement of out-of-pocket expenses, payable to Sri A N Raman (Membership No: 5359), Cost Accountant, Chennai, as Cost Auditor for the financial year 2025-26.
- Approval of Material Related Party Transactions (RPTs): To approve material related party transactions with Lakshmi Electrical Control Systems Limited (LECS), an entity falling within the definition of 'Related Party'. The proposed transactions, for an amount not exceeding ₹450 Crores (Rupees Four Hundred and Fifty Crores Only), may include purchase and sale of goods, rendering and receiving of services, and other business-related transactions. This approval is sought as the transactions, individually or collectively, may exceed 10% of the company's annual consolidated turnover. The approval will be valid until the conclusion of the 63rd AGM.
| Particulars | Details |
|---|---|
| Name of the Related Party | Lakshmi Electrical Control Systems Limited (LECS) |
| Nature of Transaction | Purchase and Sale of goods, rendering and receiving of services, other transactions for the purpose of business. |
| Relationship | A Public Limited Company in which Sri Sanjay Jayavarthanavelu (Chairman and Managing Director of LMW) is a Director and holds shareholding, along with his relatives, of more than 2% of its paid-up share capital. The nature of interest is financial. |
| Tenure of Proposed Transaction | From the conclusion of the 62nd AGM till the conclusion of the 63rd AGM. |
| Value of Proposed Transaction | ₹450 Crores |
| Percentage of LMW's Annual Consolidated Turnover (FY 2024-25) | 15.47% |
| Justification | LECS specializes in producing control panels, engineering plastics, commercial tool rooms, EV chargers, smart meters, and other electrical equipment, providing LMW with customized solutions not normally available in the market. |
Director Seeking Re-appointment: Sri Jaidev Jayavarthanavelu
Sri Jaidev Jayavarthanavelu (DIN: 07654117), aged 26 years, is an Indian national. He was appointed to the Board on May 11, 2022. He is the son of Sri Sanjay Jayavarthanavelu, Chairman and Managing Director of LMW Limited.
E-voting and Other Information:
Shareholders will have the facility to cast their votes electronically through the NSDL e-voting platform. The remote e-voting period will commence on Monday, July 14, 2025, at 09:00 AM (IST) and end on Wednesday, July 16, 2025, at 05:00 PM (IST). Shareholders whose names are recorded in the Register of Members or in the Register of Beneficial Owners maintained by the depositories as on the cut-off date of Thursday, July 10, 2025, will be eligible to cast their vote electronically or during the AGM.
Members holding shares in physical form are encouraged to update their PAN, contact details, bank account details, and specimen signature with the company's Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited, to ensure receipt of dividends and other communications electronically. Members holding shares in dematerialized form should update these details with their respective Depository Participants.
The notice of the AGM, along with the Annual Report 2024-25, is being sent electronically to members whose email addresses are registered with the company/RTA/Depository Participants. These documents are also available on the company's website (www.lmwglobal.com) and on the websites of BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com).
Shareholders who wish to ask questions during the AGM are requested to register themselves as speakers by sending their request to investors@lmw.co.in by 05:00 PM IST on Friday, July 11, 2025.
The company has also informed that pursuant to the Finance Act 2020, dividend income is taxable in the hands of shareholders, and the company is required to deduct tax at source (TDS) at prescribed rates. Shareholders are advised to update their PAN and residential status to ensure appropriate TDS.
