Siddhika Coatings Limited Announces 16th Annual General Meeting, Declares Dividend and Approves Key Remuneration Packages
Siddhika Coatings Limited has announced the schedule for its 16th Annual General Meeting (AGM) and detailed several key resolutions pertaining to financial statements, statutory appointments, and managerial compensation. The AGM is scheduled for July 11, 2026, and will address matters including dividend declaration and related party transactions approval.The company also confirmed the appointment of a new Statutory Auditor and provided comprehensive details regarding the remuneration structure for its senior management.
AGM Schedule and Corporate Actions
The Board set specific timelines for shareholders and corporate operations leading up to the AGM. Key dates include:- AGM Date: Saturday, July 11, 2026, at 02:00 P.M. (IST) via Video Conferencing (VC) or Other Audio Visual Means (OAVM).
- Record Date: Saturday, July 4, 2026. This date is set for the payment of the dividend, which will be disbursed within 30 days of the AGM declaration.
- Book Closure: The company's Register of Members and Share Transfer Books will be closed from Sunday, July 5, 2026, through Saturday, July 11, 2026.
- E-voting Cut-off Date: Saturday, July 4, 2026.
- Remote E-voting Period: The voting period is scheduled from Wednesday, July 8, 2026 (9:00 a.m. IST) to Friday, July 10, 2026 (5:00 p.m. IST).
Key Resolutions and Appointments
During the AGM, members will consider several Ordinary Business items, including receiving and adopting the Audited Financial Statements for the financial year ended March 31, 2026, along with relevant reports from the Board and Auditors. The company also announced the declaration of a final dividend of Rs 4.0 per share for the fiscal year 2025-26.In terms of appointments, M/s J K S S & Associates, Chartered Accountants, have been proposed as the Statutory Auditor of the Company for a term of five consecutive years. Furthermore, the members are called upon to approve the appointment of M/s Sushil Gupta & Associates, Practicing Company Secretaries (CP No. 5064), as the Secretarial Auditor for the Financial Years 2026-27 and 2027-28.
Executive Compensation and Related Party Transactions
The meeting will address several Special Business items concerning executive remuneration packages and approval of related party transactions (RPT).The company's Board has proposed compensation structures for three senior executives, effective from August 1, 2026, through March 31, 2029. The remuneration structure includes fixed salary components and performance-based incentives (commission on net sales). All packages stipulate a minimum guarantee amount in the event of corporate loss or inadequate profits.
Details of the proposed compensation for executives are presented below:
| Executive | Role | Salary per Annum | Commission on Net Sales | Minimum Remuneration Guarantee |
|---|---|---|---|---|
| Mr. Charitra Maheshwari | Managing Director | Rs 43,00,000 | Up to 0.60% | Rs 43,00,000 |
| Mr. Gaurav Agarwal | Executive Director | Rs 42,00,000 | Up to 0.60% | Rs 42,00,000 |
| Mr. Manvendra Pratap Singh | Executive Director | Rs 39,00,000 | Up to 0.60% | Rs 39,00,000 |
In addition, the AGM requires members' approval for Related Party Transactions (RPT) with wholly owned subsidiaries. Proposed transactions include:
| Nature of Transaction | Related Party/Subsidiary Name | Maximum Value (per annum) |
|---|---|---|
| Supply of material | M/s AB Coatings Private (to Mr. Charitra Maheshwari) | Upto Rs 3.00 Crore |
| Leasing/sublease/rent for office sharing of property | Limited (no specific director listed) | Upto Rs 2 Lakh |
| Leasing/sublease/rent for office sharing of property | M/s Siddhika Foundation (to Mr. Charitra Maheshwari) | Upto Rs 10 Lakh |
| Contracts and Supplies of Materials | M/s SCL Contracts Private Limited (to Mr. Charitra Maheshwari) | Upto Rs 5.00 Crore |
E-voting and Meeting Participation
The company has ensured facilities for remote e-voting and attendance via VC/OAVM, facilitated through Central Depository Services (India) Limited (CDSL). The AGM will be conducted virtually, enabling members to attend and vote electronically within specified guidelines. Details regarding login procedures for various shareholder types in dematerialized and physical modes were provided in the notice.SIDDHIKA Stock Price Movement
Siddhika Coatings Limited shares gained 0.31% today in the post-market session, finishing at ₹196.7 after trading higher. The stock saw a total traded volume of 7,500 shares during the close.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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