Captain Pipes Limited shareholders adopted the audited financial statements for FY26 with 99.99% of valid votes cast in favour during the 17th Annual General Meeting held on September 30, 2026.

The meeting, conducted via video conferencing from 11:00 am to 11:09 am, also approved the reappointment of Gopal D. Khichadia as a director. The proceedings were overseen by Chairman Rameshbhai Devrajbhai Khichadia and scrutinized by Kishor Dudhatra, a practicing company secretary.

Voting Results on Key Resolutions

Shareholders voted on two ordinary resolutions using the NSDL e-voting platform. The adoption of the annual report received overwhelming support, while the director reappointment saw a small fraction of dissenting votes.

Note: For the second resolution, votes of the promoter and promoter group were considered invalid as they are interested parties.

Procedural Details and Compliance

The remote e-voting window opened on September 27, 2026, at 9:00 am and closed on September 29, 2026, at 5:00 pm. An additional facility remained open for 15 minutes after the meeting concluded for shareholders who had not voted remotely. The cut-off date for determining eligible voters was September 23, 2026.

Directors present included Rameshbhai Devrajbhai Khichadia, Gopal Khichadia, Kantilal Manilal Gedia, Darshana Harshadrai Patel, Vinodbhai Narshibhai Hirpara, and Vijaybhai Pranlal Tank. Jaydeep Kanjibhai Pansuriya attended as Chief Financial Officer, and Hiral Shantilal Gudhka served as Company Secretary.

Captain Pipes has scheduled its 17th Annual General Meeting (AGM) for Wednesday, September 30, 2026. The meeting will be held via Video Conference or Other Audio-Visual Means (VC/OAVM) at 11:00 am to transact ordinary business, including the adoption of the audited financial statements for FY26.

The company confirmed that the Notice of the AGM along with the Integrated Annual Report for the Financial Year 2025-26 is being sent by electronic mode to members whose email IDs are registered with the Registrar & Share Transfer Agent or Depository Participants. For members without registered email IDs, the company has provided a web-link to access the documents.

The primary agenda includes the re-appointment of Managing Director Gopal D. Khichadia, who retires by rotation. The Board recommends his re-appointment for a five-year term extending from September 26, 2024, to September 25, 2029. Khichadia drew a remuneration of ₹43.62 lakh in FY25-26 and holds 10,440,000 equity shares.

Voting and Book Closure Timeline

Shareholders holding shares as of the cut-off date, September 23, 2026, are eligible to vote. Remote e-voting is available from September 27 to September 29, 2026. The Register of Members and Share Transfer Books will remain closed from September 24 to September 30, 2026.

Financial Performance FY26

The company reported a standalone revenue from operations of ₹7,773.11 lakh for the year ended March 31, 2026, marking a 1.27% increase from ₹7,674.92 lakh in the previous year. However, standalone Profit After Tax (PAT) declined by 33.25% to ₹294.40 lakh, down from ₹441.02 lakh in FY25.

On a consolidated basis, total revenue remained consistent with standalone figures at ₹7,773.11 lakh. Consolidated PAT fell by 20.23% to ₹698.46 lakh, compared to ₹875.74 lakh in the prior year. The decline in profitability was attributed to higher finance costs and increased depreciation expenses following the commencement of commercial production at a new manufacturing plant in May 2025.

Key Financial Metrics

What the Numbers Show

The divergence between modest revenue growth and significant profit contraction highlights the impact of capital expansion on near-term margins. Finance costs surged to ₹253.71 lakh from ₹144.58 lakh in the previous year, while depreciation expenses more than doubled to ₹210.84 lakh from ₹91.39 lakh. This suggests that the new manufacturing facility, financed through additional borrowings, has yet to generate sufficient operating leverage to offset its fixed cost burden.

Dividend and Reserves

The Board of Directors decided not to recommend any dividend for the financial year 2025-26. The entire profit for the year was retained in the Statement of Profit & Loss. The company did not issue any shares with differential voting rights nor grant stock options during the period.