HP Adhesives Limited received an Order-in-Original from the Joint Commissioner of Customs imposing a penalty of ₹28,70,934 and a redemption fine of ₹8,50,000 related to anti-dumping duty dues on PTFE Thread Seal Tape imports.

The order, dated September 18, 2026, was received by the company on September 26, 2026. This follows adjudication proceedings initiated after a Show Cause Notice issued in September 2025 regarding customs duty dues totaling ₹28,70,934 along with applicable interest under Section 28AA of the Customs Act, 1962.

Order details and financial impact

The customs authority determined that the company failed to pay the applicable anti-dumping duty on certain imported consignments. The total financial exposure includes the original duty amount, the equivalent penalty, and the redemption fine.

The company stated that the order does not have any material impact on its operations. The financial impact, including duty, interest, penalty, and redemption fine, will be accounted for as contingent liabilities in the financial statements as applicable.

Company response

HP Adhesives plans to contest the order before the appellate authority within the stipulated time period. The company had previously responded to the Show Cause Notice with written submissions in October 2025. The matter was subsequently adjudicated by the Customs Authority in September 2026.

HP Adhesives Limited held its 7th Annual General Meeting (AGM) on September 22, 2026, via Video Conferencing. Shareholders approved a final dividend of ₹0.40 per equity share for the financial year ended March 31, 2026.

The meeting, conducted through the Central Depository Services (India) Limited platform, commenced at 3:30 pm and concluded at 3:50 pm. Anjana Haresh Motwani, Chairperson and Executive Director, chaired the session. All existing directors, committee chairpersons, and representatives from the statutory and secretarial auditors were present.

Key resolutions passed

The AGM addressed both ordinary and special business items as outlined in the notice dated August 13, 2026. The following resolutions were transacted:

Governance and voting process

Swati Talgaonkar, Company Secretary, briefed members on regulatory matters and general instructions. Remote e-voting was open from September 19, 2026, to September 21, 2026. Members attending the AGM who had not voted remotely were requested to cast their votes electronically during the meeting.

Shivam Sharma, Proprietor of M/s. Shivam Sharma & Associates, served as the Scrutinizer for the e-voting process. Mihir Suresh Shah, Chief Financial Officer, addressed queries raised by pre-registered speakers. The e-voting results and the consolidated Scrutinizer’s Report will be disclosed to stock exchanges and posted on the company website.

Voting outcomes and shareholder participation

The company disclosed detailed voting results pursuant to Regulation 44(3) of SEBI (LODR) Regulations, 2015. As of the record date (September 15, 2026), the total number of shareholders stood at 52,523. During the virtual meeting, three promoters and 38 public shareholders attended via Video Conferencing.

All five resolutions were passed with the requisite majority. Promoters and promoter group members, holding 65,550,675 shares, voted unanimously in favor of all agenda items. Public non-institutional investors, who polled votes on 23,283 shares, showed minor dissent on specific governance matters:

• Financial Statements & Dividend: Passed with near-unanimous support. Dissent was negligible, with only 110 votes against the financial statements and 130 against the dividend declaration.
• Director Re-appointments: For the re-appointment of Nidhi Haresh Motwani as Director and Executive Director, public non-institutional dissent stood at 10,463 votes (44.94% of their polled votes). However, due to the overwhelming promoter stake, the overall pass rate remained at 99.98%.
• Remuneration Approval: This resolution saw the highest dissent among public non-institutional voters, with 11,513 votes against (49.45% of their polled votes). Despite this, the resolution passed with a total 99.98% majority due to promoter support.