HCP Plastene Bulkpack Limited announced on July 17, 2026, that M/s S.A. Gadhia & Company has declined the appointment as Internal Auditor for the financial year 2026-27 due to professional commitments. The firm communicated its unwillingness to accept the role, citing pre-existing professional commitments and other unavoidable circumstances. Consequently, the initial appointment made by the Board has not become effective.

The Board of Directors had appointed M/s S.A. Gadhia & Company as the Internal Auditor during its meeting held on May 28, 2026. The company had subsequently intimated the stock exchange regarding this appointment. Following the receipt of the communication refusing the offer, the company stated that the appointment is not effective.

HCP Plastene Bulkpack Limited is currently in the process of identifying and appointing another eligible Internal Auditor. The company stated that the new appointment will be placed before the Board of Directors. The stock exchange will be informed promptly in accordance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details

[HCP Plastene Bulkpack Limited](hcp plastene bulkpack) reported a consolidated net profit of ₹2,879.23 lakh for the year ended March 31, 2026, a significant increase from ₹1,333.08 lakh in the previous year. Revenue from operations grew 26.7% to ₹58,750.76 lakh for FY26, compared to ₹46,343.54 lakh in FY25. The company’s statutory auditors, M/s Ashok Dhariwal & Co., issued an unmodified opinion on the audited standalone and consolidated financial results. The Board of Directors, in its meeting held on May 28, 2026, approved these results and appointed M/s S.A. Gadhia & Company, Chartered Accountants, as internal auditors for the financial year 2026-27, effective April 1, 2026. The company published the audited financial results for the quarter and year ended March 31, 2026, in "Free Press Gujarat" (English) and "Lokmitra" (Gujarati) on May 30, 2026, in compliance with Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The Woven Sacks Division was the primary revenue driver, contributing ₹58,517.45 lakh to the total segment revenue for the year. The Label Division contributed ₹233.31 lakh. Total expenditure for the year increased to ₹55,960.82 lakh from ₹45,010.77 lakh in the prior year. Profit before tax for the year stood at ₹3,980.12 lakh, up from ₹1,797.96 lakh in FY25.

Consolidated Financial Results (₹ in Lakhs)

Board Decisions and Policies

The Board approved the adoption of several policies pursuant to the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These include the Corporate Social Responsibility (CSR) Policy, Policy for determination of Materiality of events, Policy on Related Party Transactions, and Whistle Blower Policy. The trading window for the company's securities will reopen on June 01, 2026.

Key Managerial Personnel

The company authorized specific Key Managerial Personnel for determining materiality and making disclosures to stock exchanges under Regulation 30(5) of SEBI LODR Regulations. The authorized personnel include Mr. Prakash Hiralal Parekh (Managing Director), Mr. Anil Shyamsunde Goyal (Director), Mr. Aman Prakash Parekh (Wholetime Director), Mr. Dhrumil Shah (Chief Financial Officer), and Mr. Rishabh Kumar Jain (Company Secretary).