CIE Automotive India Ltd. Holds 27th AGM, Approves Dividend and Director Re-appointments
CIE Automotive India Limited's 27th AGM on April 29, 2026, approved the FY25 audited financial statements and a ₹7 per share dividend. Mr. Shriprakash Shukla was re-appointed as Director. Remuneration for directors and cost auditors was approved. Material related party transactions with Mahindra & Mahindra (up to ₹25,000 million annually) and CIE Galfor S.A.U. were also passed.
The approval of dividend, director re-appointment, and significant related party transactions has a moderate impact on the company's governance, financial distribution, and operational strategy.
The AGM proceedings resulted in the approval of financial statements, dividend declaration, director re-appointment, and related party transactions, all with requisite majority, indicating smooth governance and shareholder support.
CIE Automotive India Limited held its 27th Annual General Meeting (AGM) on Wednesday, April 29, 2026, at 3:30 p.m. IST, conducted via Video Conference (VC) and Other Audio Visual Means (OAVM). The meeting complied with Ministry of Corporate Affairs (MCA) circulars and SEBI Listing Regulations.
During the AGM, members approved the Audited Financial Statements for the Financial Year ended December 31, 2025, along with the reports of the Board of Directors and Auditors. A dividend of ₹7 per ordinary Equity Share for the financial year ended December 31, 2025, was declared. Mr. Shriprakash Shukla was re-appointed as a Director, liable to retire by rotation. The remuneration for Messrs. Dhananjay V. Joshi & Associates as Cost Auditors for the Financial Year ending December 31, 2026, was ratified at ₹13,86,000. Approval was also granted for the remuneration of Mr. Shriprakash Shukla as Non-Executive Director for three years from April 1, 2025, to March 31, 2028, and for the revision in remuneration for Mr. Manoj Mullassery Menon as Whole-time Director, effective April 1, 2026, not exceeding ₹30,000,000 per annum.
Furthermore, the AGM approved material related party transactions with Mahindra & Mahindra Limited, with an aggregate annualized amount not exceeding ₹25,000 million (₹2,500 crore) per financial year. Transactions with CIE Galfor S.A.U. with CIE Automotive S.A., involving a Cash Pooling Arrangement and purchase of services, were also approved. All resolutions proposed at the AGM were passed with the requisite majority.
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