New Delhi/Nagpur: Manganese ore mining major MOIL Limited, a public sector undertaking under the Ministry of Mines, held its 63rd Annual General Meeting (AGM) on Tuesday in a hybrid format, combining physical attendance at Radisson Blu Hotel, Nagpur, with electronic participation. The meeting was chaired by MOIL’s Chairman & Managing Director, Ajit Kumar Saxena.
Approval of Key Financial Resolutions
During the AGM, shareholders approved 11 agenda items, most notably the adoption of the audited financial statements for the financial year 2024-25. The company declared a final dividend of Rs 1.61 per equity share, rewarding investors for the company’s solid financial performance.
Continuation of Key Director Appointments
The AGM also saw the ratification of the continuation of key director appointments. Shareholders approved the reappointment of Rakesh Tumane as Director (Finance) and M.M. Abdulla as Director (Production & Planning). Additionally, Government Nominee Directors and Independent Directors, including Iqbal Singh Chahal, Ashwini Kumar, Dinesh Kumar Gupta, and Kapil Kotecha, had their appointments continued, ensuring stable governance.
Appointment and Remuneration of Auditors
Shareholders ratified the remuneration of cost auditors for the financial year 2025-26. Moreover, J.K. Das & Associates was appointed as the Secretarial Auditor for a five-year term spanning FY 2025-26 to FY 2029-30, reaffirming MOIL’s commitment to transparency and regulatory compliance.
Active Shareholder Engagement
The AGM witnessed active shareholder participation, with seven shareholders speaking during the session. Additional queries were received through the virtual platform, which were addressed by the Chairman, Ajit Kumar Saxena. The session highlighted the company’s recent performance and future outlook, reinforcing investor confidence.
About MOIL
MOIL Limited is India’s largest manganese ore mining company and a public sector undertaking under the Ministry of Mines. It specializes in the exploration, mining, and processing of manganese ore, a critical mineral used in steel production and other industries. MOIL plays a vital role in supporting India’s industrial growth and contributes significantly to the economy through its mining operations and exports.
