Mamata Machinery Limited reported a 63% year-on-year decline in its consolidated net profit for the financial year ended March 31, 2026, falling to ₹1,505 million from ₹4,074 million in the previous year. Revenue from operations for FY26 stood at ₹23,300 million, down 8% compared to the prior year, primarily due to a nearly 50% absolute decline in its US business. The company faced significant headwinds including US tariff disruptions, geopolitical uncertainty in West Asia, and a sharp rise in polymer prices that delayed customer capital expenditure decisions.

Q4 FY26 Financial Performance

The fourth quarter of FY26 saw a sharper contraction in profitability, with net profit falling to ₹1 million from ₹271.17 million in the same period last year. Revenue for the quarter stood at ₹7,375 million, a 34% decrease year-on-year. The performance was impacted by one-time provisioning of ₹3.05 crore in Employee Benefit Expenses related to new labour code amendments and elevated exhibition expenses of ₹10.2 crore. EBITDA for the quarter dropped 98% to ₹71 million, reflecting margin compression driven by a lower export mix and adverse product mix.

The key financial metrics for the period are summarised below:

Operational Highlights and Outlook

Despite the financial challenges, the company secured a significant multi-machine order for VFFS packaging machines from a leading Indian snacks brand and received its first packaging machine order from South Africa. Mamata Machinery made its maiden appearance at Interpack 2026 in Düsseldorf and launched RecTech, an advanced recyclable mono-material film, at Plastindia 2026.

Chief Executive Officer Apurva Kane stated that FY26 was a year of consolidation, with the decline in revenue entirely attributable to the US business. The company expects FY27 to mark a return to the growth track, with profitability normalising as the top line recovers and one-off costs subside. Management remains focused on recouping lost ground in the US market and pursuing growth in domestic converting and packaging businesses through new geographies and strategic initiatives.

Mamata Machinery Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the continuation of Mr. Subba Padubidri Bangera as Non-Executive Independent Director beyond the age of 75 years. The special resolution was deemed approved on April 04, 2026, following the completion of the remote e-voting period.

Official Regulatory Disclosure

The company formally disclosed the voting results to BSE Limited and National Stock Exchange of India Limited on April 06, 2026, in compliance with regulatory requirements. Company Secretary Madhuri Sharma submitted the comprehensive documentation including the scrutinizer's report, voting results pursuant to Regulation 44(3) of SEBI(LODR) Regulations, 2015, and certified true copy of the approved resolutions.

Voting Results and Process

The postal ballot witnessed exceptional shareholder participation and support for the resolution. The voting results demonstrated strong confidence in Mr. Bangera's continued leadership:

The remote e-voting facility was provided by National Securities Depository Limited (NSDL) and remained open from March 06, 2026 at 09:00 a.m. to April 04, 2026 at 05:00 p.m. The postal ballot notice was dispatched electronically on March 04, 2026 to members whose email addresses were registered with the company as of the cut-off date of February 27, 2026.

Shareholder Category Breakdown

The voting pattern across different shareholder categories revealed broad-based support:

Director Profile and Continuation Terms

Mr. Subba Padubidri Bangera, who will attain the age of 75 years on April 08, 2026, brings extensive expertise to the board. His key qualifications include:

• B.Sc. Tech in Plastics and post-graduation in Plastics Technology from UDCT
• Management studies from Bajaj Institute and leadership training at Sidel Academy
• Over 50 years of experience in the Indian Plastics Industry
• Previously led SIDEL India, revolutionizing PET machinery production

The continuation approval allows Mr. Bangera to serve until the expiry of his current term on April 11, 2029. His appointment terms and remuneration structure, including sitting fees as per company policy, remain unchanged from his original appointment dated April 12, 2024.

Regulatory Compliance and Scrutiny

The postal ballot process was conducted in compliance with Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Nikunj Raval, Partner at Raval Mistry & Associates (FCS No. 4730), served as the scrutinizer for the voting process.

The scrutinizer's report confirmed that the resolution was passed with the requisite majority, and all procedural requirements were met. The company published advertisements in "Financial Express" on March 06, 2026, informing shareholders about the completion of postal ballot notice dispatch.

Strategic Significance

The Board of Directors, based on the Nomination and Remuneration Committee's recommendation, had endorsed Mr. Bangera's continuation, citing the immense benefit his association brings to the company. His continued presence on the board ensures continuity of strategic guidance, particularly given his deep expertise in plastics machinery and industry leadership experience.

The overwhelming shareholder approval reflects confidence in the company's governance decisions and Mr. Bangera's valuable contribution to the organization's strategic direction in the competitive plastics machinery sector.