Dutron Polymers reported a net profit of ₹270.25 lakh for FY26, down slightly from ₹272.36 lakh in FY25. The company's revenue from operations fell 11.6% year-on-year to ₹919.1 crore, driven by a significant drop in sales within its HDPE pipes segment.

Financial Performance

The Ahmedabad-based manufacturer saw its revenue decline due to curtailed government projects under the Jal Jeevan Mission and non-spending by the Gujarat Water Supply & Sewerage Board. Despite the top-line contraction, the company maintained relatively stable profitability through cost management measures.

Profit before depreciation and taxation decreased by ₹22.5 lakh to ₹444.31 lakh. Depreciation expenses dropped to ₹93.42 lakh from ₹113.83 lakh in the prior year. Provision for taxation stood at ₹80.64 lakh.

Dividend and AGM

The Board of Directors recommended a final dividend of ₹1.50 per equity share of face value ₹10 each, subject to shareholder approval at the 45th Annual General Meeting (AGM). The meeting is scheduled for September 18, 2026, and will be held via video conferencing. The record date for determining dividend eligibility is September 11, 2026.

What the Numbers Show

A notable divergence exists between the company's operating cash flows and its balance sheet liquidity. While operating cash flow turned negative at -₹99.87 lakh compared to an inflow of ₹533.82 lakh in FY25, the debt-to-equity ratio improved significantly to 11.70% from 16.17%. This improvement was driven by a reduction in total borrowings and an increase in shareholders' equity through retained profits, indicating reduced dependence on external debt despite lower operational cash generation.

Governance and Legal Updates

The annual report highlights ongoing legal proceedings before the National Company Law Tribunal (NCLT) regarding management and governance matters. These disputes involve allegations of oppression and mismanagement filed by certain promoters. The outcome of these proceedings remains sub judice. Additionally, the company faced regulatory warnings from SEBI and penalties from BSE for delays in filing secretarial compliance reports and voting results during the year.

Dutron Polymers has scheduled its 45th Annual General Meeting (AGM) for September 18, 2026, to approve a proposed dividend of ₹1.50 per equity share for FY26. The meeting will be conducted via Video Conferencing or Other Audio-Visual Means (OAVM).

The company notified the Bombay Stock Exchange of the AGM intimation published in Western Times on August 26, 2026. The Notice of the AGM along with the Annual Report for FY26 is being sent electronically to members with registered email addresses. These documents are also available on the company website and the BSE platform.

Key Agenda Items

The primary business items for the AGM include:

• Adoption of Financial Statements: Shareholders will receive, consider, and adopt the audited Balance Sheet as at March 31, 2026, along with the Statement of Profit and Loss, Cash Flow Statement, and reports from the Board and Auditors.
• Dividend Declaration: The Board recommends declaring a final dividend of ₹1.50 per equity share of ₹10 face value, payable out of profits for FY26.
• Reappointment of Director: Shri Rasesh H. Patel (DIN: 00226388), Managing Director, retires by rotation and offers himself for reappointment. He has attended all six board meetings in FY25-26.
• Cost Auditor Remuneration: Approval of remuneration of ₹55,000 plus applicable taxes and expenses to M/s. R J & Associates as Cost Auditors for FY27.

E-Voting Details

Shareholders can exercise their voting rights through remote e-voting facilitated by Central Depository Services (India) Limited (CDSL). The voting window opens on September 15, 2026, at 11:00 am and closes on September 17, 2026, at 5:00 pm. Members who have not voted remotely can vote during the AGM if they attend via VC/OAVM.

Dividend and TDS Compliance

If the dividend is approved at the AGM, the company may deduct Tax Deducted at Source (TDS). Eligible members must submit Form 121 to investor@dutronindia.com by September 11, 2026, at 5:00 pm to avoid deduction. Late submissions will not be considered.

Shareholders must update their PAN details with the Company or Depository Participants on or before September 11, 2026, by 5:00 pm. Failure to do so may result in TDS being deducted at a higher applicable rate. The record date for determining eligibility to vote and receive the dividend is September 11, 2026.

Shareholder Updates

Members holding shares in physical mode should update their email and bank details with the Registrar and Share Transfer Agent, MUFG Intime India Private Limited. Demat holders must update these details with their respective Depository Participants. For queries, shareholders can contact the company or the R&TA via email.