SPIC's 55th AGM: All resolutions including financial statements and director appointments passed
Southern Petrochemical Industries Corporation Limited (SPIC) held its 55th AGM on September 28, 2026. All resolutions, including adopting financial statements for FY26 and declaring dividends, were passed. Key appointments included Ms. Devaki Muthiah Chardon, Thiru. P Sankar, IAS, and Thiru. Sanket Balvantrao Waghe, IAS, as directors. Remuneration for directors and cost auditors was also approved.
The AGM outcome is significant for corporate governance and operational continuity, involving director appointments and financial approvals. However, it does not involve immediate new financial commitments or major strategic shifts that would warrant a 'HIGH' impact.
The announcement details the successful passing of all resolutions at the AGM, including financial statement adoption, dividend declaration, and director appointments, indicating positive corporate governance and shareholder alignment.
Southern Petrochemical Industries Corporation Limited (SPIC) announced the results of its 55th Annual General Meeting (AGM) held on 28th September 2026. The meeting, conducted through Video Conferencing / Other Audio Visual Means (VC/OAVM), saw all resolutions put forth to the shareholders being passed with the requisite majority.
The resolutions included the adoption of the Audited Financial Statements (Standalone and Consolidated) for the financial year ended 31st March 2026, the declaration of dividend on equity shares for the same financial year, and the appointment/re-appointment of several directors. Specifically, Ms. Devaki Muthiah Chardon was re-appointed as a Director, and Thiru. P Sankar, IAS, and Thiru. Sanket Balvantrao Waghe, IAS, were appointed as Nominee Directors representing Tamilnadu Industrial Development Corporation Limited. Mr. T K Arun was re-appointed as an Independent Director.
Additionally, the shareholders approved and ratified the remuneration of the Cost Auditors for the financial year 2026-27. The meeting also approved the payment of remuneration to Non-Executive Directors and a revision in remuneration, along with a special incentive, for Mr. K R Anandan, Whole-Time Director, for the financial year 2025-26.
The Scrutinizer's Report, dated 29th September 2026, confirmed the results of the e-voting process, which commenced on 23rd September 2026 and concluded on 27th September 2026. The voting results showed overwhelming support for all resolutions, with e-voting and voting during the meeting demonstrating high percentages in favour.
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