Ecoplast Limited will seek shareholder approval for significant remuneration revisions for its top management at its 44th Annual General Meeting (AGM) scheduled for September 7, 2026. The pay hikes, effective from June 1, 2026, are driven by the expanded operational scale following the approved amalgamation with Kunal Plastics Private Limited, which was sanctioned by the National Company Law Tribunal, Ahmedabad, on May 14, 2026.

The meeting, to be held at Shantivan Resort in Valsad, Gujarat, will also address the adoption of audited financial statements for the fiscal year ended March 31, 2026, and the re-appointment of director Ravi Amulbhai Mehta. Shareholders will vote on special resolutions to revise the compensation of Managing Director Jaymin B. Desai, Whole-time Director Atul Baijal, Whole-time Director Aditya Nitinkumar Patel, and Whole-time Director Ravi Amulbhai Mehta. The Board of Directors determined that the proposed increases exceed the limits of authority previously delegated by shareholders, necessitating fresh approval under Sections 196, 197, 198, and 203 of the Companies Act, 2013.

Remuneration Revisions

The Board recommended the revisions based on recommendations from the Nomination and Remuneration Committee and the Audit Committee, citing increased responsibilities and industry benchmarks post-merger. All revised packages include provisions for minimum remuneration subject to Schedule V of the Companies Act, 2013, in case of inadequate profits.

Managing Director Jaymin B. Desai’s package includes leave travel allowance, medical allowance, and other allowances totaling ₹1,48,336 per month, alongside provident fund and superannuation contributions. Atul Baijal’s revision includes leave travel and medical allowances of ₹19,175 each per month. Aditya Nitinkumar Patel’s package features house rent, conveyance, leave travel, and medical allowances. Ravi Amulbhai Mehta’s revision includes house rent, conveyance, leave travel, medical, education, and hostel education allowances.

Financial Performance

The explanatory statement disclosed the company’s financial performance for FY25 and FY26. Turnover grew from ₹20,778.26 lakh in FY25 to ₹22,108.23 lakh in FY26. However, net profit declined from ₹1,377.01 lakh in FY25 to ₹1,198.12 lakh in FY26. No dividend was declared or paid during either period.

What the Numbers Show

While revenue expanded by approximately 6.4% year-on-year, net profit contracted by roughly 13% in FY26. This divergence suggests that the cost base or operational expenses may have risen faster than top-line growth, potentially reflecting integration costs from the Kunal Plastics merger or broader input cost pressures in the plastics manufacturing sector. The absence of dividends despite positive profitability indicates a strategy focused on retaining earnings for operational scaling or debt reduction rather than shareholder payouts.

Other Business Items

Shareholders will also ratify the remuneration of M/s Kishore Bhatia & Associates as Cost Auditors for the financial year ending March 31, 2027. The firm, registered under FRN 00294, will receive ₹2,50,000 plus applicable taxes and out-of-pocket expenses. Ravi Amulbhai Mehta retires by rotation and offers himself for re-appointment.

Remote e-voting will be facilitated by Central Depository Services (India) Limited (CDSL) from September 4, 2026, to September 6, 2026. The record date for voting rights is August 31, 2026. Members holding shares in physical form must update their details with the Registrar and Share Transfer Agent, MUFG Intime India Private Limited, to participate effectively.

Ecoplast Ltd has closed its trading window for designated persons effective July 1, 2026, to ensure compliance with insider trading regulations ahead of its upcoming financial results announcement. The window will remain shut until 48 hours after the conclusion of its board meeting, where the unaudited financial results for the quarter ended June 30, 2026, are scheduled to be considered.

The closure follows the provisions of the SEBI (Prohibition of Insider Trading) Regulation, 2015, and relevant BSE circulars. The company's Code of Conduct on Insider Trading mandates this restriction for 'Specified Persons' to prevent the misuse of unpublished price-sensitive information.

The board meeting will focus on the approval of the unaudited financial results for the first quarter of FY27. The specific date for the meeting has not been disclosed in the filing.

Key Details

The intimation was submitted to BSE Limited on June 17, 2026, by Rakesh Kumar Kumawat, Company Secretary and Compliance Officer.