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

Ashish Polyplast Limited, an ISO 9001:2015 certified manufacturer of P.V.C. Premium Braided and Suction Hoses based in Ahmedabad, Gujarat, submitted its audited financial results for the fourth quarter and year ended March 31, 2026, to BSE Limited on May 14, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and approved by the Board of Directors at a meeting that commenced at 17:30 P.M. and concluded at 18:15 P.M. on Thursday, May 14, 2026. The statutory auditors, M.R. Pandhi & Associates, Chartered Accountants, issued an unmodified opinion on the audited financial results.

Quarterly Financial Performance

For the quarter ended March 31, 2026, the company reported revenue from operations of Rs. 404.95 Lakhs, compared to Rs. 366.09 Lakhs in Q4 FY25 and Rs. 354.23 Lakhs in Q3 FY26. Total revenue for Q4 FY26 stood at Rs. 364.21 Lakhs after accounting for other income of Rs. (40.74) Lakhs, which includes a net unrealised fair value loss of Rs. 43.36 Lakhs on investments in mutual funds measured at fair value through profit or loss (FVTPL) as per Ind AS 109. The company recorded a net loss of Rs. 34.07 Lakhs in Q4 FY26, an improvement over the net loss of Rs. 39.87 Lakhs in Q4 FY25.

The following table presents the quarterly and annual financial highlights (Rs. in Lakhs):

Full Year FY26 Performance

For the full year ended March 31, 2026, Ashish Polyplast reported revenue from operations of Rs. 1,502.06 Lakhs, compared to Rs. 1,601.44 Lakhs in FY25. Total expenses for FY26 were Rs. 1,484.08 Lakhs against Rs. 1,576.58 Lakhs in FY25, with cost of materials consumed being the largest component at Rs. 1,240.60 Lakhs (FY25: Rs. 1,379.89 Lakhs). Net profit for FY26 stood at Rs. 13.03 Lakhs, down from Rs. 24.78 Lakhs in FY25. The company recognised a net unrealised fair value loss of Rs. 2.42 Lakhs for the year ended March 31, 2026 on mutual fund investments measured at FVTPL. Other Comprehensive Income for FY26 was Rs. (1.25) Lakhs, resulting in Total Comprehensive Income of Rs. 11.78 Lakhs compared to Rs. 23.62 Lakhs in FY25. The paid-up equity share capital remained unchanged at Rs. 339.75 Lakhs (face value of Rs. 10 each).

Balance Sheet Highlights

As at March 31, 2026, total assets of the company stood at Rs. 954.32 Lakhs, up from Rs. 807.16 Lakhs as at March 31, 2025. The following table summarises the key balance sheet figures (Rs. in Lakhs):

Cash and cash equivalents improved significantly to Rs. 48.10 Lakhs as at March 31, 2026, from Rs. 23.00 Lakhs as at March 31, 2025. Property, plant and equipment increased to Rs. 271.67 Lakhs from Rs. 222.53 Lakhs, reflecting capital expenditure of Rs. 73.87 Lakhs during FY26.

Cash Flow Summary

The company generated net cash from operating activities of Rs. 28.93 Lakhs in FY26, compared to Rs. 61.15 Lakhs in FY25. Net cash used in investment activities was Rs. (121.37) Lakhs in FY26 versus Rs. (97.43) Lakhs in FY25, primarily on account of purchase of property, plant and equipment of Rs. (73.87) Lakhs and investment in mutual funds of Rs. (48.00) Lakhs. Cash flows from financing activities were Rs. 117.53 Lakhs in FY26, driven by proceeds from short-term borrowings of Rs. 135.00 Lakhs, resulting in a net increase in cash and cash equivalents of Rs. 25.10 Lakhs during the year.

Board Meeting and Compliance

The Board of Directors, at their meeting on May 14, 2026, also considered and approved several agenda items including review of minutes of prior committee meetings, compliance reports, continuation of internal financial auditors for FY26-27, and the secretarial audit report for the year ended March 31, 2026. The board recommended reappointment of statutory financial auditors for FY26-27, subject to shareholder approval at the ensuing Annual General Meeting. The company confirmed that no fraud or mismanagement of funds was noticed during the year, and no deviation in accounting of any financial or other transactions was made during the year. The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, and the company operates in a single reportable segment — manufacturing and sale of PVC Pipes — as per Ind AS 108.