Transformers and Rectifiers (India) Limited (TARIL), a leading transformer manufacturer in India, successfully conducted its 31st Annual General Meeting (AGM) on May 13, 2025, via Video Conferencing (VC) and Other Audio Visual Means (OAVM). During the meeting, various resolutions were discussed, including financial statements, dividend declaration, director reappointments, and the revision of remuneration terms. The company’s Chairman, Mr. Jitendra U. Mamtora, presided over the meeting.
Transformers and Rectifiers (India) Limited (TARIL), one of India’s leading manufacturers of transformers, held its 31st Annual General Meeting (AGM) through Video Conferencing (VC) and Other Audio Visual Means (OAVM). The meeting was chaired by Mr. Jitendra U. Mamtora, Chairman and Whole-time Director of the company. The meeting saw the participation of shareholders, including those attending through VC, with 77 members present.
Company Overview:
Founded in 1994, Transformers and Rectifiers (India) Limited (TARIL) is the second-largest transformer manufacturing company in India based on capacity. The company specializes in power, distribution, furnace, and specialty transformers, producing high-quality products at its three state-of-the-art plants around Ahmedabad, Gujarat. With over 1,200 employees, TARIL is renowned for adhering to high quality benchmarks in the transformer manufacturing industry.
AGM Proceedings:
The AGM was conducted with all the directors present, including Mr. Subir Kumar Das, Chairman of various committees like Audit and Nomination & Remuneration. The company’s Statutory Auditors, M/s Manubhai & Shah LLP, and Secretarial Auditor, Mr. Tapan Shah, were also in attendance. The meeting commenced with a speech from Chairman Mr. Jitendra U. Mamtora, followed by a detailed explanation of the voting procedure by the Company Secretary, Mr. Rakesh Kiri.
The resolutions presented at the meeting included the adoption of audited financial statements for the year ending March 31, 2025, the declaration of a 20% dividend (Rs. 0.20 per equity share), and the reappointment of directors. Special resolutions were also tabled, including the revision of remuneration terms for several key directors and the approval for advancing loans or providing guarantees under Section 185 of the Companies Act, 2013.
Key Resolutions:
- Adoption of financial statements for FY 2024-2025.
- Dividend declaration of Rs. 0.20 per equity share.
- Reappointment of Mrs. Karuna J. Mamtora as Director and revisions in her remuneration.
- Reappointment of Mr. Jitendra U. Mamtora as Chairman and Whole-time Director with revised terms.
- Appointment of M/s Shah & Shah Associates as Secretarial Auditors.
The meeting concluded at 11:15 a.m. (IST), with e-voting continuing for an additional 15 minutes to finalize voting results. The e-voting results, along with the consolidated Scrutinizer’s Report, will be sent to the stock exchanges within two working days and will be published on the company’s website and other platforms.
TARIL remains committed to enhancing its corporate governance and shareholder engagement through transparent and efficient processes. The company’s continued focus on innovation and quality reinforces its position as a leader in the global transformer manufacturing industry.
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