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File Photo: A 22 MW, Mai Hydropower Project : Bird eye view of its Headworks.

Sanima Mai Hydropower Limited is set to hold its fourth Annual General Meeting (AGM) on April 11, 2024. The company, through a public notice, has announced that the meeting will take place at 11:00 a.m. at Amrapali Banquet in Naxal, Kathmandu.

During the meeting, the company will present proposals to approve the annual report, profit and loss statement, cash flow statement, and other financial statements for the fiscal year 2023/24. In addition, a proposal regarding the distribution of dividends to shareholders from the profits of the same period will be one of the main agenda items of the meeting.

For the purpose of the AGM, the company has declared March 29, 2024 as the book closure date. Accordingly, only shareholders whose shares are traded and recorded on the Nepal Stock Exchange (NEPSE) by March 28, 2024 will be eligible to attend the meeting and receive dividends.

According to the published financial statements, the company has seen a significant increase in revenue from electricity sales. Along with this revenue growth, there has been an improvement in net profit, which sends a positive signal to investors.

Through the AGM, the board of directors’ report will be approved, and proposals for the appointment of auditors and determination of their remuneration will also be passed. If necessary, matters related to the selection of directors will also be discussed, the company stated.

According to the consolidated financial statements released by the company, both assets and liabilities have expanded. Alongside the growth in electricity production and sales, the company has increased long-term investments and improved operational profitability.

As an active player in the energy sector, Sanima Mai Hydropower Limited has been expanding both its production capacity and financial base in recent years. Decisions passed in the AGM are expected to have a significant impact on the company’s future strategy and shareholder returns.

Jalasarokar