Sheela Foam Limited, the parent company of the popular brand Sleepwell, has announced that its 53rd Annual General Meeting (AGM) will take place on Thursday, July 17, 2025, at 10:00 AM IST. In a regulatory filing, the company stated that the meeting will be conducted virtually through Video Conferencing (VC) and Other Audio Visual Means (OAVM).
The company has set Thursday, July 10, 2025, as the "Cut-off Date" to determine the members eligible to vote on the proposed resolutions or to attend the AGM. The remote e-voting for the AGM will commence on Sunday, July 13, 2025, and conclude on Wednesday, July 16, 2025.
| Particulars | Details |
|---|---|
| AGM Date and Time | Thursday, July 17, 2025, at 10:00 AM IST |
| Mode | Video Conferencing (VC) / Other Audio Visual Means (OAVM) |
| Cut-off Date | Thursday, July 10, 2025 |
| E-voting Start Date | Sunday, July 13, 2025, at 9:00 AM IST |
| E-voting End Date | Wednesday, July 16, 2025, at 5:00 PM IST |
Key Agenda for the AGM
The company has outlined both ordinary and special business items to be transacted during the meeting. The notice of the AGM was sent to members on June 24, 2025, along with the Annual Report for the financial year 2024-2025.
Ordinary Business
The primary agenda under ordinary business includes the consideration and adoption of the standalone and consolidated financial statements for the year ended March 31, 2025. This includes the audited Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement, along with the auditors' reports.
Furthermore, shareholders will vote on the re-appointment of Mr. Rahul Gautam (DIN: 00192999) as a Director, who is retiring by rotation and, being eligible, has offered himself for re-appointment.
Special Business
The company will seek shareholder approval for two key ordinary resolutions under special business:
- Ratification of Cost Auditors' Remuneration: The first resolution is for the ratification of the remuneration for the cost auditors for the financial year 2025-26. The Board of Directors has appointed M/s. Mahesh Singh & Co., Cost Accountants, to conduct the audit of the company's cost records. The proposed remuneration is ₹1.60 lakh plus applicable taxes.
- Appointment of Secretarial Auditors: The second resolution seeks approval for the appointment of M/s AVA Associates, a firm of Practicing Company Secretaries, as the Secretarial Auditors. The appointment is proposed for a term of five consecutive financial years, from April 1, 2025, to March 31, 2030, at a remuneration to be fixed by the Board of Directors.
Financial Performance and Dividend
The Annual Report for FY 2024-25, which accompanies the AGM notice, highlights the company's financial performance. On a consolidated basis, Sheela Foam's revenue from operations for FY25 stood at ₹3,439.19 crore, with a profit after tax of ₹96.70 crore.
The Board of Directors has not recommended any dividend for the financial year 2024-25, stating that the entire profit is being ploughed back into the business to support future growth.
Voting and Participation Information
As the AGM will be held through electronic mode, the facility for the appointment of proxies by members will not be available. The e-voting period allows shareholders to cast their votes on the resolutions from July 13 to July 16. The results of the voting will be declared after the conclusion of the AGM and will be made available on the company's website and the stock exchanges.
The notice and the annual report have been made available on the company's website, www.sheelafoam.com, and have also been emailed to the members.
