Atharva Poly-Plast Limited concluded its 13th Annual General Meeting on September 24, 2026, with both ordinary resolutions passing unanimously, receiving 100% votes in favour from all participating shareholders.

The meeting was held at 11:00 am through Video Conferencing, chaired by Managing Director Anujit Shivaji Darade. The company facilitated remote e-voting through National Securities Depository Limited from September 21 to September 23, 2026, with live e-voting also available during the meeting. The cut-off date for shareholder eligibility to vote was September 18, 2026. The AGM notice was dated September 1, 2026. Votes were unblocked on September 24, 2026, around 12:10 pm in the presence of two witnesses, Harshvardhan Chaturvedi and Rohit Upadhyay, who are not in employment of the company.

Agenda items addressed

The members considered and transacted two primary items of ordinary business:

• Adoption of financial statements: To receive, consider, and adopt the audited financial statements for the financial year ended March 31, 2026, along with the Board of Directors' report and Statutory Auditors' report.
• Director reappointment: To appoint a director in place of Ashish Shivaji Darade (DIN: 08237333), who retired by rotation and offered himself for re-appointment. He is the brother of Anujit Shivaji Darade, son of Shivaji Kisan Darade, and son of Sadhana Kisan Darade. His office shall remain liable to retirement by rotation.

Voting results

A total of 390 shareholders were on record as of the cut-off date. Out of 16,849,998 total shares, 11,916,125 votes were polled, representing 70.72% of outstanding shares. All votes cast were in favour, with zero votes against and no invalid votes recorded for either resolution. The detailed voting outcome for both resolutions is presented below.

Resolution 1: Adoption of financial statements

Resolution 2: Reappointment of Ashish Shivaji Darade as director

Category-wise vote distribution

The category-wise breakdown of votes polled across both resolutions is identical and summarised below:

Attendance and compliance

The meeting maintained the requisite quorum throughout its duration. A total of 10 shareholders attended via video conferencing — 7 from the Promoter and Promoter Group and 3 from the public category. No proxy attendance was recorded, as the meeting was held through VC/OAVM.

Prachi Bhartia of Prachi Bhartia & Associates, Company Secretaries, served as the scrutinizer to ensure a fair and transparent voting process. The consolidated scrutinizer's report confirmed that all resolutions were passed with the requisite majority. The voting results and scrutinizer's report have been made available on the company's website and on the NSDL e-voting website. The meeting concluded at 11:25 am, with the e-voting facility remaining open for an additional 15 minutes to accommodate last-minute votes.

Atharva Poly-Plast reported a 27.46% year-on-year increase in profit after tax (PAT) to ₹6.47 crore for FY26, driven by a 14.48% rise in revenue from operations. The company scheduled its 13th Annual General Meeting for September 24, 2026.

The Board of Directors did not recommend any dividend for the financial year ended March 31, 2026, opting to conserve resources for future expansion. Members holding shares as on the cut-off date of September 18, 2026, are eligible to vote via remote e-voting from September 21 to September 23, 2026.

Financial Performance Highlights

Atharva Poly-Plast’s revenue from operations grew to ₹54.39 crore in FY26 from ₹47.54 crore in the previous year. EBITDA expanded by 23.7% to ₹11.25 crore, reflecting improved operational efficiency and a shift towards higher-value engineered components.

The company also issued bonus shares at a ratio of 9:10 during the period, increasing its total share capital to ₹12.35 crore. Trade receivables turnover ratio declined by 18.94% to 6.79, indicating an increase in average trade receivables relative to sales.

Key Resolutions and Appointments

During a board meeting on September 1, 2026, the company appointed M/s R H Patel & Associates as internal auditor for FY27. The firm holds Firm Registration Number 143472W and specializes in financial audit and regulatory advisory services.

Mr. Ashish Shivaji Darade, Director and CFO, retires by rotation at the AGM and seeks reappointment. He has attended all 20 board meetings held during FY25-26. His remuneration for FY26-27 is set at ₹4.5 lakh.

Corporate Governance and Compliance

The company was converted from a private limited to a public limited entity in April 2025 and listed on the BSE SME platform in July 2026. The annual report and AGM notice were submitted to BSE Limited under Regulation 34(1) of the SEBI Listing Regulations.

Statutory auditors M/s P R A S S & Associates LLP issued an unqualified report on the financial statements. This declaration was made in accordance with the third proviso of Regulation 33(3)(d) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The secretarial audit report by M/s Nitin Katkar & Associates confirmed compliance with applicable statutory provisions during the reporting period.