SKF India Proposes ₹14.5/Share Final Dividend; AGM on Aug 6

SKF India Limited's Board of Directors has proposed a final dividend of ₹14.5 per equity share for the financial year ended March 31, 2025. This proposal will be put forth for shareholder approval at the company's 64th Annual General Meeting (AGM), scheduled to be held on Wednesday, August 6, 2025. The record date for determining the eligibility of shareholders to receive this final dividend, if declared, has been set as Friday, July 4, 2025.

Proposed Final Dividend DetailsParticulars

Details

Dividend per share

₹14.50Face Value per share

₹10.00Financial Year

2024-25Record Date

July 4, 2025AGM Date for Approval

August 6, 2025Payment Date (if approved)

On or before 30th day from declaration

The 64th Annual General Meeting will be conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM) at 2:00 P.M. (IST) on August 6, 2025. The agenda for the AGM includes several key resolutions, both ordinary and special, reflecting the company's operational and governance matters.Ordinary BusinessShareholders will consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, along with the respective reports of the Board of Directors and Auditors. Additionally, the re-appointment of Mr. Karl Robin Joakim Landholm (DIN: 09651911), who retires by rotation and is eligible for re-appointment, will be proposed.Special BusinessA significant portion of the AGM agenda is dedicated to approving material related party transactions to ensure compliance and transparency. The company seeks approval for:

• Transactions with SKF GmbH, Schweinfurt, Germany: Approval is sought for various transactions including administrative and service fees, purchase of capital goods and services, raw materials, components, spares, finished goods, reimbursements, technical and service income, and sale of goods and services. The maximum aggregate value for these transactions for FY 2025-26 and up to the next AGM for FY 2025-26 or fifteen months from the 64th AGM (whichever is earlier) is proposed not to exceed ₹883.41 crore (MINR 8,834.1). These transactions are stated to be in the ordinary course of business and at arm's length basis.
• Transactions with SKF Asia Pacific Pte Ltd, Singapore: The company also seeks approval for material related party transactions with SKF Asia Pacific Pte Ltd. These transactions primarily involve the purchase of raw materials, components, spares, finished goods, technical and service income, and sale of goods and services. The maximum aggregate value for these transactions for FY 2025-26 and up to the next AGM for FY 2025-26 or fifteen months from the 64th AGM (whichever is earlier) is proposed not to exceed ₹514.95 crore (MINR 5,149.5). These transactions will also be carried out in the ordinary course of business and at arm's length basis.
• Transactions with SKF Engineering and Lubrication India Private Limited (SELIPL): Approval is sought for a range of transactions with SELIPL, a fellow subsidiary. These include contracts for inter-corporate loan & interest, purchase of capital goods and services, raw materials, components, spares, finished goods, reimbursements, technical and service income, sale of goods and services, and rent received. The maximum aggregate value for these transactions for FY 2025-26 and up to the next AGM for FY 2025-26 or fifteen months from the 64th AGM (whichever is earlier) is proposed not to exceed ₹1,124.35 crore (MINR 11,243.5). This limit also includes a specific inter-corporate loan of ₹130 crore (MINR 1,300) to SELIPL for a period not exceeding five years (up to 2029), at an interest rate equivalent to 7-year Government Security (6.50% GS rate currently) or FD/Term deposit rate, whichever is higher, plus 150 basis points, to be reviewed every six months.

Other special business items include:

• Appointment of Secretarial Auditor: The appointment of M/s J. B. Bhave & Co., Practicing Company Secretaries, as the Secretarial Auditor of the Company for a period of five financial years, from FY 2025-26 to FY 2029-30, will be considered.
• Ratification of Cost Auditor Remuneration: Shareholders will ratify the remuneration of ₹4.50 lakh (Rupees Four Lakhs Fifty Thousand only) plus applicable taxes and reimbursement of out-of-pocket expenses, payable to M/s. Joshi Apte and Associates Cost Accountant, for conducting the cost audit for the financial year 2025-26.
• Approval of Independent Director Remuneration: Approval will be sought for the remuneration payable to Mr. Gopal Subramanyam, Non-Executive, Independent Director, amounting to ₹36.87 lakh (Thirty Six Lakhs Eighty Seven Thousand Three Hundred Sixty Two Only) for FY 2024-25. This amount exceeds fifty percent of the total annual remuneration payable to all Non-Executive Directors of the Company for the said financial year, in addition to sitting fees and reimbursement of expenses.

Record Date and E-Voting Information

The company has set Friday, July 4, 2025, as the record date for determining the eligibility of members to receive the final dividend for FY 2024-25, if declared and approved. For the purpose of remote e-voting on the resolutions proposed in the Notice of AGM, the cut-off date for members holding shares is Wednesday, July 30, 2025. The remote e-voting facility will commence on Saturday, August 2, 2025, at 9:00 a.m. IST and conclude on Tuesday, August 5, 2025, at 5:00 p.m. IST.The Annual Report for FY 2024-25, along with the Notice of AGM, has been sent through electronic mode to members whose email addresses are registered with the Company's Registrar and Share Transfer Agent / Depositories as of July 4, 2025. For members who have not registered their email addresses, dispatch of letters providing the web link to the Annual Report has been initiated. The Annual Report and Notice are also available on the company's website and the websites of the stock exchanges.Shareholder Information

In compliance with SEBI regulations, securities of listed companies can only be transferred in dematerialized form since April 1, 2019. Shareholders holding physical shares are encouraged to consider converting them to dematerialized form. For dividend payments and TDS compliance, members are advised to update their Residential Status, PAN, and Category as per the Income Tax Act, 1961, with their Depository Participants or the Company's Registrar and Share Transfer Agent. Due to the virtual nature of the AGM, the facility to appoint a physical proxy to attend and cast votes will not be available. However, corporate bodies can appoint authorized representatives to participate and vote through e-voting.