Ashish Polyplast Ltd

Meeting Details

• Date: 27 October 2026.
• Day: Tuesday.
• Time: 5:00 PM.
• Place: Registered Office, Ahmedabad.

Key Agenda Items

• To consider and take on record the unaudited financial results for Q2 and H1 ended 30/09/2026.
• To disclose unaudited results to stock exchanges and publish press advertisements.
• To authorize Chairman and MD Ashish D Panchal to sign and submit the approved unaudited results.

Dematerialisation status

• Dematerialisation requests for quarter ended 30 Sep 2026 processed; confirmations sent to depositories.
• Securities dematerialised were listed on the stock exchanges where the earlier issued securities are listed.
• Certificates for dematerialisation were mutilated and cancelled; depository name substituted in registers as registered owner.

Ashish Polyplast Limited – Trading Window Closure from 1 October 2026 until the end of 48 hours after the unaudited financial results for the quarter ended 30 September 2026

AGM resolutions

• Audited financial statements for year ended 31 March 2026 approved and adopted.
• Reappointment of Kantaben Dahyabhai Panchal as Director (retiring by rotation) approved.
• Voting results to be announced on the stock exchange within two working days.

AGM details

• AGM held 25 September 2026; start 11:00 AM, concluded 11:18 AM.
• Mode: VC/AVM; e-voting extended to 11:33 AM.
• Voting cut-off for eligibility: 18 September 2026.
• Record date for voting: 2,842 shareholders on record.
• Attendees: 24 members present; 2 promoters via video.
• Total resolutions passed: 2 ordinary.

Resolutions and outcomes

• Item 1: Adopt audited financial statements; ordinary; passed (votes in favor 22,18,860; against 125).
• Item 2: Appoint Kantaben Panchal; ordinary; passed (votes in favor 22,18,860; against 125).

Director changes

• Director Kantaben Panchal re-appointed; retires by rotation.

Auditors

• No change in auditors announced at AGM.

AGM Details

• AGM held on 25 September 2026; started 11:00 AM, concluded 11:18 AM.
• Mode: physical attendance with electronic voting during extended period.

Key Resolutions

• Adopted Audited Financial Statements for year ended 31 March 2026.
• Reappointment of Mrs. Kantaben Dahyabhai Panchal (DIN 00598256).

Voting Results

• Voting outcome for financials adoption not disclosed.
• Voting outcome for director reappointment not disclosed.

Other Notes

• No other material business disclosed in this chunk.

AGM notice

• Newspaper notice issued for the AGM, with book-closure and e-voting provisions.

Financial highlights

• Sales from operations: ₹1,502.06 Lakhs in FY2025-26.
• Total income: ₹1,502.57 Lakhs; PAT: ₹13.03 Lakhs.
• PBDT: ₹43.45 Lakhs; depreciation ₹24.97 Lakhs; tax ₹5.45 Lakhs.
• Total comprehensive income: ₹11.78 Lakhs; balance carried to Balance Sheet ₹337.00 Lakhs.
• Earnings per share: ₹0.38 (basic and diluted).
• Dividend: no dividend declared for the year.

Revenue & profitability

• Revenue from operations net of discounts: ₹1,502.06 Lakhs.
• PBDT and PAT declined year over year due to pricing; PAT ₹13.03 Lakhs.
• Interest, tax and OCI contributed to modest net profit; ROE 1.74%.
• Net profit margin stood at 0.78% for FY2025-26.

Capital structure & liquidity

• Authorized share capital ₹3.75 Cr; issued ₹3.50 Cr; paid-up ₹3.3975 Cr.
• Total borrowings ₹150.00 Lakhs; current ₹143.77, non-current ₹6.23.
• Cash & cash equivalents ₹48.10 Lakhs; net debt ₹101.90 Lakhs.
• Current ratio 1.35; debt-equity ratio 0.22; adjusted net debt/adjusted equity 0.15.

Operations & portfolio

• Primary product: PVC pipes; single operating segment, domestic market.
• Revenue from PVC pipes: ₹1,521.65 Lakhs; net after discounts ₹1,502.06 Lakhs.
• Inventories ₹141.85 Lakhs; trade receivables ₹100.27 Lakhs; cashflow management strong.
• Investments in mutual funds ₹352.99 Lakhs; diverse mutual fund holding.

Governance & board

• MD: Ashish D. Panchal; Kantaben Panchal; Khusboo Kansara (Independent).
• Independent director Shrikant Priyadarshi appointed 3 Oct 2024; regularised 27 Sep 2025.
• Company Secretary: Krushi Jainam Sanghavi appointed 7 Aug 2025; Dipti Sharma resigned 31 Jul 2025.
• Board meetings: four in 2025-26; Audit Committee: four; Nomination & Remuneration: one.
• Not required to submit Corporate Governance report due to small net worth.

Audits & internal controls

• Statutory auditor: M. R. Pandhi & Associates; term to 31-Mar-2027.
• Secretarial auditor: Kamlesh M. Shah & Co.; Annexure A disclosed.
• Auditors’ report: no qualifications; internal controls adequate and operating effectively.

Related party transactions & risk

• Total related party remuneration: ₹33.43 Lakhs; MD ₹21.19; CFO ₹4.28; CS ₹2.24.
• Promoter-relative salary: ₹4.82 Lakhs; other KMP remuneration material.
• Audit committee approves all related party transactions.

Risks, industry & outlook

• PVC raw-material price volatility and import dependence pose margins risk.
• Anti-dumping duties on PVC imports (Oct 2024) could affect costs.
• Opportunities from Jal Jeevan Mission, PMAY-Urban, and rural irrigation demand.
• Mitigation: diversify suppliers, backward integration, value-added products, and BIS/EPR compliance.

Management commentary

• Management aims to capitalize on micro-irrigation demand and localized infrastructure growth.
• Company prioritizes cash-flow safety and dealer-network stability amid competitive pressures.

AGM Details

• AGM date/time/mode: 25 September 2026 at 11:00 AM IST, via VC/OAVM.

Key Resolutions

• To adopt Audited Financial Statements for year ended 31 March 2026.
• To reappoint Kantaben Panchal (DIN 00598256) retiring by rotation.
• Board authorized to do all acts to give effect to these resolutions.

Voting Results

• Adoption of financial statements: voting results not disclosed.
• Reappointment of Kantaben Panchal: voting results not disclosed.
• Board authorization: voting results not disclosed.

Director Changes

• Kantaben Panchal to be reappointed; retires by rotation.

AGM timetable

• AGM date: Friday, 25 September 2026.
• Book closure: 24 September 2026.
• Cut-off date for e-voting eligibility: 18 September 2026.
• E-voting opens 22 September 2026 at 9:00 AM.
• E-voting closes 25 September 2026 at 5:00 PM.