M M Rubber Company Limited held its 60th Annual General Meeting (AGM) on September 24, 2026. The meeting was conducted entirely through Video Conferencing and Other Audio-Visual Means to comply with regulatory norms.

The session commenced at 11:00 am and concluded by 11:20 am. Rohan Kuriyan, Independent Director and Chairman of the company, presided over the proceedings. Managing Director Roy Mammen provided operational highlights for the financial year ended March 31, 2026, addressing queries raised by registered shareholders.

Agenda and Voting Procedures

The AGM transacted ordinary business as outlined in the notice dated September 1, 2026. Electronic voting facilities were provided via the NSDL portal from September 21 to September 23, 2026. Members who did not vote remotely cast their ballots during the live meeting.

Key Resolutions

Shareholders approved two primary resolutions during the meeting:

1. Adoption of Financial Statements: The audited financial statements for the financial year ended March 31, 2026, were adopted.
2. Director Re-appointment: Jacob Mammen, who retired by rotation, was re-appointed as a director. He is eligible for the role under the Companies Act, 2013.

The voting results, along with the Scrutinizer's Report, will be filed with stock exchanges and published on the company's website. The meeting was held pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

M M Rubber Company Limited reported a net loss of ₹1.20 crore for the financial year ended March 31, 2026, a significant improvement from the ₹3.68 crore loss recorded in FY25. The company’s revenue from operations declined marginally by 2.3% to ₹40.06 crore, reflecting persistent headwinds in the consumer mattress market.

The reduction in losses was driven by disciplined cost-cutting measures, despite a challenging operating environment characterized by rising raw material costs and sluggish sales volumes. Management noted that while product prices were increased marginally, the full impact of input cost inflation could not be passed on to customers due to grim market conditions.

Financial Performance

Revenue from operations stood at ₹40.06 crore, compared to ₹40.99 crore in the previous year. Other income fell sharply to ₹4.68 lakh from ₹27.82 lakh in FY25. The company incurred a profit before tax loss of ₹172.13 lakh, improving from a ₹364.57 lakh loss in the prior period.

Deferred tax credit of ₹51.91 lakh contributed to the narrowing of the net loss. Total comprehensive income for the year was a loss of ₹160.86 lakh.

What the Numbers Show

A key divergence in the financials is the decline in other income alongside operational improvements. While the core business reduced its pre-tax loss by over 50%, the sharp drop in other income—from ₹27.82 lakh to just ₹4.68 lakh—highlights a reduced reliance on non-operating gains. This suggests the improved bottom line is primarily rooted in operational cost controls rather than incidental income streams.

Balance Sheet and Liquidity

Total assets decreased slightly to ₹3,293.77 lakh from ₹3,314.86 lakh. Non-current assets fell to ₹2,012.88 lakh, largely due to a revaluation deficit on property, plant, and equipment. Current assets rose to ₹1,280.89 lakh, driven by an increase in inventories to ₹1,065.63 lakh from ₹891.37 lakh.

Borrowings saw a mixed trend: long-term borrowings decreased to ₹67.03 lakh from ₹121.93 lakh, while short-term borrowings increased to ₹933.37 lakh from ₹916.95 lakh. Trade payables rose to ₹320.74 lakh, indicating extended credit periods with suppliers.

Strategic Initiatives and Governance

The company is exploring new avenues, having approached automobile and tyre manufacturing companies for potential collaborations. Samples have been submitted, and responses are awaited. Additionally, R&D efforts are focused on launching a patented new product soon.

No dividend was declared for the year. The Board did not propose any transfer to general reserves. Mr. Jacob Mammen retires by rotation at the upcoming AGM and offers himself for re-appointment. Ms. Poornima M was appointed as Chief Financial Officer effective June 11, 2026, succeeding Mr. M. M. Kushalappa who resigned.