DOMS Industries Limited announced the outcome of its Board Meeting held on May 19, 2025.
Key decisions include:
- Approved the Audited Standalone and Consolidated Financial Results for the financial year ended March 31, 2025, with an unmodified opinion from the auditors, M/s. Price Waterhouse Chartered Accountants LLP.
- Recommended a final dividend of ₹3.15 per Equity Share of ₹10/- each for the financial year ended March 31, 2025, subject to shareholder approval.
- Approved the appointment of Mr. Jignesh A. Shah as Secretarial Auditor for 5 years (FY 2025-26 to 2029-30), M/s. HTKS & Co. as Internal Auditor for FY 2025-26, and M/s. B.F. Modi & Associates as Cost Auditors for FY 2025-26.
- Approved the appointment of four Additional and Non-Executive Independent Directors for a term of 5 years from May 19, 2025, to May 18, 2030: Mr. Nitesh Shah, Mr. Rohan Ghalla, Mr. Piyush Mehta, and Mr. Harsh Thakkar. These appointments are subject to shareholder approval.
- Approved the appointment of Mr. Om Santosh Raveshia as an Additional and Whole-time Director for a term of 5 years from May 19, 2025, to May 18, 2030, subject to shareholder approval. Mr. Om Santosh Raveshia is the son of Mr. Santosh Raveshia, Managing Director of the Company.
- Approved an investment of up to ₹6.12 crore to acquire a 51.00% stake in Super Treads Private Limited (STPL) by purchasing 5,10,000 Equity Shares from current shareholders. STPL is engaged in manufacturing and marketing Paper Stationery products and had revenues from operations of ₹7.89 crore in FY 2023-24. The acquisition aims to expand manufacturing capabilities and service eastern markets. The transaction is expected to be completed on or before June 30, 2025, subject to due diligence and necessary approvals. STPL will become a subsidiary post-acquisition.
- Allotted 350 Equity Shares under the Employee Stock Option Plan 2023 upon exercise of options. The exercise price was ₹250/- per share. Consequent to this allotment, the paid-up Equity Share capital increased from ₹60,68,72,360 to ₹60,68,75,860.