Jolly Plastic Industries Ltd has approved a proposal to change its name to Sahaj Digital Limited, subject to regulatory approvals, as it pivots toward digital services and e-governance projects. The Board of Directors, meeting on June 12, 2026, also accepted the resignation of its existing Statutory Auditor, M/s GAMS & Associates LLP, effective immediately due to pre-occupation with other professional commitments. The firm, appointed on September 30, 2022, was originally scheduled to hold office until September 30, 2027.

To fill the casual vacancy, the Board appointed M/s P.K. Drolia & Co., Chartered Accountants, as the new Statutory Auditor, subject to shareholder approval at the ensuing Annual General Meeting (AGM). The resignation letter confirmed there were no material reasons for the departure other than stated commitments and that no concerns were raised with the Audit Committee prior to stepping down. The latest audit report had been submitted before the resignation.

The Board reconstituted its leadership by appointing three additional directors and key managerial personnel (KMP). Mr. Suvendu Chunder and Mr. Ananjan Mitter were appointed as Additional Directors (Non-Executive Independent Directors), while Mr. Kamal Nain Pandya joined as an Additional Director (Non-Executive Director). Shareholder approval for these director appointments will be sought at the AGM.

Operational oversight was strengthened with the appointment of Mr. Shomik Kumar Mukherjee as Manager and KMP, Mr. Joydeep Datta Gupta as Company Secretary and Compliance Officer, and Mr. Gopal Dalmia as Chief Financial Officer, all effective from June 12, 2026. The Board also accepted the resignations of Mr. Rajesh Kumar Vaid and Mr. Parul Kumar as Directors.

Operational shifts include commencing day-to-day activities from a new Corporate Office in Kolkata and closing existing bank accounts. The meeting, chaired by Mr. Atul Kumar Agarwal, also approved the draft notice for the AGM for the financial year ended March 31, 2026, and reconstituted various board committees.

Jolly Plastic Industries Limited reported a net profit of ₹1.06 lakh for the financial year ended March 31, 2026, a decline from ₹1.77 lakh in the previous year. Revenue from operations rose to ₹22.60 lakh from ₹17.02 lakh in FY25, while total income decreased to ₹47.09 lakh from ₹61.43 lakh. The Board of Directors has not recommended any dividend for the financial year. The company submitted its Annual Report for FY26 to the BSE, including the notice for the 45th Annual General Meeting.

Financial Performance

The company's profit before tax for the year stood at ₹1.46 lakh, compared to ₹2.36 lakh in the prior year. Total expenses for FY26 were reported at ₹45.62 lakh, down from ₹59.07 lakh in FY25. The basic and diluted earnings per share (EPS) for the year was ₹0.016, a decrease from ₹0.027 in the previous year.

Capital Structure and Corporate Actions

During the financial year, the Board approved an increase in the authorized share capital to ₹27 crore. The authorized capital now comprises 2,50,00,000 equity shares of ₹10 each and 20,00,000 preference shares of ₹10 each. The issued, subscribed, and paid-up share capital as of March 31, 2026, was ₹24.38 crore.

The shareholders approved the issuance of up to 1,77,00,000 equity shares on a preferential allotment basis to Bhaum Digital Ventures Private Limited. The allotment was completed on April 3, 2026, at a price of ₹10 per share, aggregating to ₹17.70 crore. Following this issuance, Bhaum Digital Ventures Private Limited holds 72.61% of the expanded equity and voting shares in the company. The company received in-principle approval from the Bombay Stock Exchange Limited (BSE) for the listing of these shares on March 9, 2026.

Governance and Compliance

The Board of Directors underwent changes during the year, including the appointment of Mr. Parul Kumar as a Non-Executive Independent Director and the resignation of Mr. Adesh Kumar Agarwal. The company's statutory auditor, M/s GAMS & Associates LLP, noted in its report that the accounting software used during the year did not have a feature for recording audit trails (edit log). Management stated that it is in the process of updating the software to include this facility.

The company confirmed that it has not accepted any deposits falling under the purview of Section 73 of the Companies Act, 2013. There were no material orders passed by regulators or courts that would impact the going concern status of the company.

45th Annual General Meeting

The 45th Annual General Meeting of the company will be held on Wednesday, July 29, 2026, at 11:00 AM at the registered office in Ahmedabad. The Register of Members and share transfer books will remain closed from Wednesday, July 22, 2026, to Wednesday, July 29, 2026, for the purpose of determining shareholder entitlement. Remote e-voting will commence on July 26, 2026, at 09:00 AM and conclude on July 28, 2026, at 05:00 PM.

The agenda includes the adoption of audited financial statements, the appointment of M/s ALPS & Co. as statutory auditor for five years, and the re-appointment of Ms. Sandeep Kaur as Director. Special business items encompass the regularization of Mr. Suvendu Chunder, Mr. Ananjan Mitter, and Mr. Kamal Nain Pandya as Directors, the appointment of Mr. Shomik Kumar Mukerjee as Manager & Key Managerial Personnel, shifting the registered office from Gujarat to West Bengal, alterations to the objects clause, and changing the company name to Sahaj Digital Limited.