M M Rubber Company Limited shareholders approved the re-appointment of Jacob Mammen as a director with 93.24% votes in favor during the 60th Annual General Meeting held on September 24, 2026. The meeting also ratified the adoption of financial statements for FY26 with identical support.

The proceedings were conducted via Video Conferencing to comply with regulatory norms. Rohan Kuriyan, Independent Director and Chairman, presided over the session, while Managing Director Roy Mammen provided operational highlights for the fiscal year ended March 31, 2026.

Voting Results for Agenda Items

The National Securities Depository Limited (NSDL) e-voting system facilitated remote voting from September 21 to September 23, 2026. Sharvari Sham Kulkarni of Sharvari Kulkarni and Associates certified the results in Form MGT-13.

For the adoption of audited financial statements, a total of 1,584,311 votes were cast. Of these, 1,477,261 votes were in favor, while 107,050 were against.

Director Re-appointment Details

Jacob Mammen (DIN: 00078010), who retired by rotation under Section 152 of the Companies Act, 2013, was re-appointed as an Executive Director effective September 24, 2026. The resolution received 1,477,251 votes in favor and 107,060 votes against.

Mr. Mammen has considerable experience in the plantation industry and has traveled extensively to study latest technologies in coffee curing and manufacturing. He joined M M Rubber Company Limited in 2006. The disclosure notes that Roy Mammen is his brother. Promoters hold 205,581 equity shares, representing 3.30% of the paid-up capital. No other directors or key managerial personnel had a financial interest in the resolution, except Mr. Jacob Mammen and Mr. Roy Mammen.

Procedural Compliance

The company submitted these results to stock exchanges pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, intimation regarding the director's appointment was filed under Regulation 30 of the SEBI Listing Regulations. Electronic records relating to e-voting remain under the safe custody of the compliance officer.

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.