Coastal Corp Shareholders Approve All 11 AGM Resolutions, Declare ₹0.22 Dividend
The passing of all routine and special resolutions, including dividend declaration and approvals for financial flexibility (borrowing, loans), ensures the continuity of company operations and governance, and provides a return to shareholders. While not a new major project, these are crucial for ongoing stability and future growth enabling decisions.
All 11 resolutions presented at the Annual General Meeting, including the declaration of a final dividend, re-appointment of directors, and approvals for borrowing limits, were passed with overwhelming shareholder support, indicating strong confidence in the company's governance and strategic direction.
Coastal Corporation Limited held its 44th Annual General Meeting (AGM) on 26th September 2025, where all 11 proposed resolutions were passed by the shareholders with overwhelming majority. * Key resolutions approved include: * Adoption of the audited standalone and consolidated financial statements for the financial year ended 31st March 2025. * Declaration of a Final Dividend of ₹0.22 per equity share, representing 11% on the face value of ₹2 each, for FY 2024-25. * Re-appointment of Smt. Jeeja Valsaraj as a Director. * Appointment of Mr. A.V.V.S.S.CH.B. Sekhar Babu as Secretarial Auditors for a consecutive term of five years. * Approval of Related Party Transactions entered by the Company. * Re-appointment of Mr. Valsaraj Thottoli as the Managing Director of the Company. * Approval to mortgage and/or charge movable and/or immovable properties as security for borrowings under Section 180(1)(a) of the Companies Act, 2013. * Increase in the limits of borrowing by the Board of Directors under Section 180(1)(c) of the Companies Act, 2013. * Approval to advance any loan, give guarantee, or provide security under Section 185 of the Companies Act, 2013. * Appointment of Mr. Vasantharao Satya Venkata Rao as an Independent Director. * One shareholder, holding 9,170 shares, abstained from voting on each of the resolutions.
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Coastal Corporation Limited filed this with the NSE as a statutory disclosure, categorised under agm-egm. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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