Ashish Polyplast Limited has submitted the synopsis of proceedings for its 32nd Annual General Meeting (AGM) to the BSE, confirming the virtual meeting held on September 25, 2026. The filing details the attendance of 24 members and the successful passage of all resolutions, including the adoption of FY26 financial statements and the reappointment of a director.

The AGM was convened via Video Conferencing and Other Audio Visual Means (VC/OAVM) starting at 11:00 am and concluding at 11:18 am, with extended electronic voting closing at 11:33 am. The submission was made in compliance with Regulation 30 of SEBI (LODR) 2015, signed by Chairman and Managing Director Ashish D Panchal.

Key resolutions passed

The shareholders considered and approved the following items as per the notice dated May 14, 2026:

• Adoption of the Audited Balance Sheet, Profit & Loss Account, and Cash Flow Statement for the year ended March 31, 2026.
• Approval of the Directors' Report and Auditors' Report.
• Reappointment of Kantaben Dahyabhai Panchal (DIN 00598256), who retired by rotation and offered herself for reappointment.

Voting results and scrutiny

The scrutinizer's report, submitted by Kamlesh M Shah & Co., detailed the voting outcomes for both resolutions. Both items were passed with a requisite majority as ordinary resolutions. The voting process included remote e-voting prior to the meeting and physical e-voting during the AGM extended window.

Promoters and promoter group members cast 2,109,663 votes in favor for both resolutions, representing 100% of their holding. Public non-institutional shareholders voted 109,322 shares, with 109,197 in favor and 125 against.

Meeting attendance and compliance details

The synopsis lists the presence of key managerial personnel and directors, including Non-Promoter Non-Executive Independent Directors Shrikant Kodarlal Priyadarshi and Khushbu Mahendrabhai Kansara. Company Secretary Krushi Jainam Sanghavi briefed members on the voting process, noting that remote e-voting was open from September 22 to September 24, 2026.

Shareholders who did not cast votes via remote e-voting were permitted to vote electronically during an extended 15-minute window following the conclusion of the meeting. The scrutinizers are required to submit their report within two working days. This report will be uploaded to the BSE Listing Centre, the company’s website, and the National Securities Depository Limited (NSDL) website.

Ashish Polyplast Limited has scheduled its 32nd Annual General Meeting for September 25, 2026, at 11:00 am via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The meeting will focus on adopting audited financial statements for FY26 and the reappointment of a retiring director.

Financial Performance

Revenue from operations stood at ₹1,502.06 lakh in FY26, down from ₹1,601.44 lakh in the previous year. The contraction reflects industry-wide price relaxation of Polyvinyl Chloride (PVC) resin rather than a loss in baseline volume demand.

Profit before tax and exceptional items (PBDT) decreased to ₹43.45 lakh from ₹67.11 lakh in FY25. Net profit after tax fell to ₹13.03 lakh, compared to ₹24.78 lakh in the prior fiscal year. Total comprehensive income was recorded at ₹11.78 lakh.

Balance Sheet and Capital Structure

The company’s total assets increased to ₹954.32 lakh from ₹807.16 lakh in FY25. This growth was primarily fueled by an increase in non-current financial assets, specifically investments in mutual funds, which rose to ₹352.99 lakh from ₹307.41 lakh.

Cash and cash equivalents more than doubled to ₹48.10 lakh from ₹23.00 lakh. However, current liabilities surged to ₹237.42 lakh from ₹93.13 lakh, largely due to a new working capital demand loan of ₹135.00 lakh. Consequently, the debt-equity ratio expanded to 0.22 times from 0.03 times in the previous year.

The paid-up share capital remained unchanged at ₹339.75 lakh. The board did not recommend any dividend for FY26 to strengthen long-term resources.

What the Numbers Show

The divergence between rising total assets and falling profitability highlights a strategic shift toward liquidity management over operational expansion. While operating profits contracted by nearly half, the company significantly increased its mutual fund portfolio by ₹45.58 lakh during the year. This suggests a deliberate allocation of surplus cash into market-linked instruments amidst subdued core business margins.

AGM Details

Key agenda items for the September 25 meeting include:

• Adoption of the audited financial statements for FY26.
• Reappointment of Mrs. Kantaben Panchal (DIN 00598256) as a director retiring by rotation. She holds 2,49,891 shares and serves on the Stakeholders' Relationship and Nomination & Remuneration Committees.

The Register of Members and Share Transfer Books will remain closed from September 19, 2026 to September 25, 2026 (both days inclusive). Remote e-voting opens on September 22, 2026, at 9:00 am and closes on September 24, 2026, at 5:00 pm. The cut-off date for determining eligibility is September 18, 2026. NSDL is the authorized agency for electronic voting.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE831C01016/88b973a1-d37a-48db-9ffb-beb023bec20e.pdf