Shlokka Dyes Ltd

Regulation 74(5) status

• No dematerialisation/rematerialisation requests were received during the period.
• Regulation 74(5) not applicable as all holdings are in demat form.

Shlokka Dyes Limited: Trading Window closed from October 01, 2026 till 48 hours after the declaration of financial results for the half-year ending September 30, 2026

AGM Details

• AGM held on 24 September 2026 at 11:30 AM via VC/OAVM.
• End time 11:55 AM.
• Record date 17 September 2026; 1,112 shareholders on record.
• Remote e-voting period 20–23 September 2026; voting at AGM via VC/OAVM.
• Total attendees via VC/OAVM: 18 (4 Promoter group, 14 Public).

Resolutions and outcomes

• Resolution 1 (Ordinary): Adopt Audited Standalone Financial Statements for year ended 31/03/2026; passed with 99.99% in favour.
• Resolution 2 (Ordinary): Re-appointment of Vaibhav Shah by rotation; passed with 99.99% in favour.
• Resolution 3 (Special): Loan to director-interested entity; aggregate limit Rs 300 Crore; passed 99.96%.
• Resolution 4 (Special): Loans, guarantees, investments beyond limits; aggregate Rs 300 Crore; passed 99.96%.
• Resolution 5 (Special): Create charge/mortgage on movable/immovable properties for borrowings up to Rs 300 Crore; passed 99.96%.
• Resolution 6 (Special): Board borrowing powers up to Rs 300 Crore; passed 99.98%.
• Resolution 7 (Special): Appoint Arpit Tiwari as Independent Director; passed 99.99%.

Director changes

• Vaibhav Pravinchandra Shah re-appointed by rotation.
• Arpit Tiwari appointed as Independent Director.

Related party transactions

• Material related party transactions approved: loans/guarantees/security to director-related entities; aggregate limit Rs 300 crore.
• Creation of charge and borrowing powers approved for borrowings up to Rs 300 crore.

Overall outcome

• All resolutions passed; substantial majority for all special resolutions.

Financial performance & IPO impact

• Revenue from operations: 8,194.13 Lakhs; down from 10,342.62.
• Total income: 8,289.81 Lakhs; prior year 10,345.46.
• Profit after tax: 495.96 Lakhs; prior year 1,004.20.
• EPS Basic 2.32; Diluted 2.76.
• IPO proceeds raised: 5,778.86 Lakhs; unutilised 389.17.
• Net worth rose to 8,536.37 Lakhs; IPO-backed equity base.
• Paid-up capital: 2,140.85 Lakhs post-IPO.
• Domestic sales: 6,504.90 Lakhs; export: 1,461.42 Lakhs.
• Installed capacity 9,000 MTPA; light-shade dye expansion planned.
• Equifax Impex slump-sale: acquisition post-year for Rs 3.6749 Cr.
• No dividend declared for FY2025-26.
• Operates in a single segment.
• Cash & cash equivalents: 204.06 Lakhs.
• Trade receivables from related parties: 3,256.03 Lakhs.
• Export share of total sales around 18%.

Capital structure and ownership

• Post-IPO paid-up capital increased to 2,140.85 Lakhs.
• Authorized capital Rs 22 Crore.
• Promoters hold 70.33% total: Vaibhav Shah 42.20%, Shivani Rajpurohit 28.13%.
• IPO listed on SME Platform of BSE on 17 Oct 2025.
• Scrip code 544582; equity shares 2,14,08,548 after IPO.
• Debt profile improved; debt-equity ratio 0.31 from 1.02.

IPO funds utilisation & deviations

• IPO proceeds: 5,778.86 Lakhs; utilised 5,389.19; unutilised 389.17.
• Deviation: 1,256.83 Lakhs used for working capital beyond allocation.
• 75 Lakhs incurred on items not specified in prospectus.
• Shareholder approvals for deviations not obtained as at balance sheet date.
• Rs 2,179.00 Lakhs moved to third parties; Rs 2,079 Lakhs recovered by Dec 31, 2025.
• CRISIL monitoring agency reports submitted; quarterly in respect of IPO proceeds.

Operations and capacity

• Capex: 613 Lakhs for light-shade dyes; 190.47 deployed by Mar 2026.
• Installed capacity to 14,859 MTPA upon full deployment.
• Domestic sales 6,504.90; exports 1,461.42; total 8,194.13.
• Export share in total sales about 18%.
• ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 certified.
• Inventories and receivables position indicates expansion and working-capital needs.

Governance and board changes

• Arpit Tiwari appointed Independent Director from Jan 1, 2026.
• Shivani Rajpurohit: designation changed Oct 14, 2025 to Non-Executive & Non-Independent.
• Shivlal Kikaram Purohit resigned Aug 25, 2025; Meet Jayantilal Joshi resigned Dec 14, 2025.
• CFO Rajesh Bachubhai Patel resigned Dec 31, 2025; Vikas Dilipbhai Badgujar appointed Jan 1, 2026.
• Board meetings held: 14 in FY2025-26; Audit Committee re-constituted Jan 1, 2026.

Related party transactions

• Equinox Impex: sale 4,125.72; purchase 588.12; DPC 109.78 (Lakhs).
• All related party transactions at arm's length; omnibus approvals obtained.
• Trade receivables from related parties: 3,256.03 Lakhs.

Post-year events & regulatory

• Acquisition of Equinox Impex business (slump-sale) effective Aug 1, 2026; total Rs 3.6749 Cr.
• Trademark acquisitionRs 1.4425 Cr; consolidated consideration Rs 3.6749 Cr.
• CRISIL Monitoring Agency Reports for Q3 and Q4 FY2025-26 submitted.
• Books of accounts moved to Shed C-42, GIDC, Ahmedabad from Apr 29, 2026.

Audit & compliance flags

• Auditors' Emphasis of Matter: net worth positive; going concern as per management.
• Secretarial audit: no qualifications; notes include PAS-3 penalty and IPO deviations.
• Internal controls considered adequate; IPO-related controls strengthened.

Dividend & CSR disclosure

• Dividend for FY2025-26: not declared.
• CSR spend: 12.60 Lakhs; fully utilized; CSR policy on website.
• CSR-2 filings for 2023-24 and 2024-25 completed.

Target and transaction

• Equinox Impex, sole proprietorship, manufactures and exports synthetic organic dyes in India.
• Turnover FY2025-26: Rs 47.01 crores.
• Acquisition via slump sale of business and assets for cash.
• Aggregate cash consideration: Rs 3,67,49,248.90.
• Rs 2,23,24,031.81 for business undertaking; Rs 1,44,25,217.09 for trademark.
• Related party: EI proprietor is MD of Shlokka Dyes; arm's length.
• No equity stake; acquisition of running operations and assets only.
• Industry: Specialty Chemicals.

Rationale and background

• Strategic rationale: synergy, promoter group consolidation, cost efficiency.
• Within main line of business; dyes manufacturing/export.
• Regulatory approvals: Not Applicable.
• Timeline: within 30 days from BTA signing.
• Background: EI exports dyes; India presence and export markets.
• Three-year turnover: 2023-24 Rs 57.20 cr; 2024-25 Rs 75.69 cr; 2025-26 Rs 47.01 cr.
• Profit after tax: 2023-24 Rs 0.34 cr; 2024-25 Rs 0.27 cr; 2025-26 Rs 0.28 cr.
• Trademark EQUINOX filed in Class 2; user claim since 2011.

Dematerialisation status

• No dematerialisation/rematerialisation requests were received during the period.
• No physical certificates were mutilated or cancelled as there were no dematerialisations.
• No substitution of the depository name was recorded within the 15-day timeline.