RIR Power Electronics Ltd — Board Meeting, 29-05-2025: Board Meeting

RIR Power Electronics Limited has announced a board meeting approving the financial results for the quarter and financial year ended March 31, 2025, audited with unmodified opinion by Kirtane & Pandit LLP. The company plans to increase its authorized share capital from Rs. 14.05 Cr to Rs. 17.5 Cr by creating 34.5 lakh new equity shares, subject to shareholder approval. It will issue fully paid bonus shares at a 1:1 ratio and split the existing Rs. 10 face value shares into 5 shares of Rs. 2 each, both pending shareholder consent. A final dividend of Rs. 2 per Rs. 10 share is proposed. The company completed the sale of its wholly owned subsidiary Visicon Power Electronics Pvt Ltd to Silicon Power Corporation (U.S.A.) for Rs. 216 lakh, leading to the subsidiary ceasing to be part of the group. Dr. Harshad Mehta has been appointed Non-Executive, Non-Independent Chairman, while Mr. N. Ramesh Kumar resigned as Non-Executive Director citing personal reasons. M/s. Neetu Agrawal & Co. has been appointed Secretarial Auditor for five years and also as scrutinizer for an upcoming postal ballot.