Chemplast Sanmar Limited has scheduled its 42nd Annual General Meeting (AGM) for August 7, 2026, at 3:00 PM IST through video conferencing and other audio-visual means. The meeting will be conducted virtually, with the registered office in Chennai serving as the deemed venue. Shareholders will vote on several key resolutions, including the adoption of financial statements for the financial year ended March 31, 2026, and the appointment of a new director to fill a casual vacancy.

The Board of Directors has recommended the appointment of Mr V S Radhakrishnan as a Non-Executive and Non-Independent Director. This appointment fills the vacancy caused by the resignation of Mr Sumit Maheshwari. Additionally, the meeting will seek shareholder approval to ratify the remuneration of ₹ 5,75,000 for N Sivashankaran & Co., Cost Accountants, for the cost audit of the financial year 2026-27.

Financial Performance

The company reported a financial performance for the year ended March 31, 2026, as detailed in the notice:

The notice attributes the loss for FY26 to a difficult market environment and exceptional items, citing significant adverse impacts from the dumping of PVC into India.

Director Remuneration

Shareholders will also consider a resolution to approve the payment of commission or remuneration to Independent Directors for a period of three years from FY27 to FY29. The proposed remuneration is the higher of 1% of net profits or a sum as per Schedule V of the Companies Act, 2013, subject to a maximum of ₹ 1,00,00,000 per year in aggregate. This excludes sitting fees and meeting expenses.

E-voting and Participation

Remote e-voting will commence on August 4, 2026, at 9:00 AM IST and conclude on August 6, 2026, at 5:00 PM IST. The voting rights will be determined based on shareholding as of the cut-off date, July 31, 2026. The company has engaged KFin Technologies Limited to facilitate the e-voting process and virtual meeting participation. Members can attend the meeting and cast votes through the VC/OAVM platform using their e-voting credentials.

B Ravi & Associates (Firm Registration Number: P2016TN052400), represented by CS Dr. B. Ravi (FCS No.:1810 CP No.:3318), will act as the scrutinizer for the entire voting process. The company has published the notice in newspapers including Financial Express (English) and Dinamani (Tamil) in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Chemplast Sanmar Limited reported a consolidated net loss of INR280 crores for the financial year ended March 31, 2026, on revenue of INR4,224 crores. The company recorded an impairment loss of INR898 crores on its investment in the Suspension PVC business, citing persistent price pressures, excess global capacities, and regulatory challenges. The Board has constituted a committee of independent directors to examine strategic priorities, including potential reorganization and M&A opportunities, to enhance long-term value creation.

Financial Performance

For the fourth quarter of FY26, the company reported consolidated revenue of INR1,256 crores, a 9% year-on-year increase. EBITDA stood at INR194 crores compared to INR37 crores in the same quarter of the previous year. The net loss for the quarter was INR45 crores. As of March 31, 2026, the company's consolidated net debt was INR1,419 crores.

Operational Highlights

The Specialty segment recorded sales of INR475 crores in Q4 FY26, driven by a 17% year-on-year volume increase in Paste PVC. The Cuddalore Paste PVC facility operated at 100% capacity during the year. Commercial production of R32 refrigerant gas commenced at the 2 kt swing plant in Mettur, with commissioning of new plants expected in phases. The Custom Manufactured Chemicals business faced a slowdown in the global agrochemical market but maintains a strong order book for FY27 with 45-plus molecules in development.

Strategic and Regulatory Developments

The company received final findings from the Directorate General of Trade Remedies (DGTR) regarding anti-dumping duty investigations against imports from the European Union and Japan, with implementation expected in the first half of FY27. Management noted that regulatory support for the domestic PVC industry has weakened, including the rescinding of Quality Control Orders and a recent reduction in customs duty. Consequently, the company assessed the carrying value of its investments under Ind AS 36, resulting in the INR898 crore impairment. Additionally, CCVL recorded an exceptional charge of INR150 crores for onerous contracts and inventory write-downs, expected to be reversed in the current financial year.