Manali Petrochemicals Limited has initiated a postal ballot process to seek shareholder approval for material related party transactions (RPTs) with Wilson International Trading Private Limited, Singapore, and the reappointment of a director. The company seeks approval for transactions involving the import of materials for an aggregate value not exceeding ₹ 200 crore, exclusive of applicable taxes, for a period of one year from the date of approval. This limit exceeds 10% of the company's annual consolidated turnover of ₹ 1,022.4 crore for the year ended March 31, 2026, necessitating shareholder consent under Regulation 23 of the SEBI Listing Regulations, 2015.

The postal ballot notice also includes three special resolutions. The first proposes the reappointment of Mr. T K Arun as an Independent Director for a second term of five years commencing from September 29, 2026. The second and third resolutions seek approval for the revision of remuneration for Mr. R Chandrasekar, Managing Director & CEO, and Mr. G R Sridhar, Whole-time Director (Head of Plant Operations), respectively. The revised remuneration for Mr. Chandrasekar is set at ₹ 127.73 lakh per annum, excluding performance-linked pay, while Mr. Sridhar's remuneration is fixed at ₹ 65.17 lakh per annum, excluding performance-linked pay. Both revisions are effective from April 1, 2026.

Related Party Transaction Details

The proposed RPTs with Wilson International Trading Private Limited involve the import of raw materials. The company's Audit Committee initially approved transactions up to ₹ 75 crore for FY 2026-27 but recommended an increase to ₹ 200 crore to meet business needs and ensure supply chain continuity. Wilson is a related party through the company's wholly-owned subsidiary, AMCHEM Speciality Chemicals Private Limited, Singapore. Transactions during the previous financial year aggregated to ₹ 31.48 crore.

Director Reappointment and Remuneration

Mr. T K Arun, who completes his first term as an Independent Director on September 28, 2026, has been recommended for reappointment by the Nomination and Remuneration Committee and the Board. His reappointment requires a special resolution. The remuneration revisions for the executive directors were also approved by the Board and the Nomination and Remuneration Committee, citing performance and industry benchmarks.

Postal Ballot Schedule

M/s. B. Chandra & Associates, Practicing Company Secretaries, has been appointed as the scrutinizer for the postal ballot. The e-voting process begins on July 08, 2026, at 9:00 AM IST and ends on August 06, 2026, at 5:00 PM IST. The record date for determining shareholder eligibility is July 03, 2026. Related parties are not eligible to vote on the resolution regarding the RPTs with Wilson International Trading Private Limited.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE201A01024/4acb65be598844ff.pdf

Manali Petrochemicals has resumed operations at its Plant 1 effective July 5, 2026, following the completion of maintenance activities. The company confirmed that the temporary shutdown did not have any material adverse impact on its overall operations.

Operational Update

The restart at Plant 1 concludes the maintenance-related closure initiated earlier. The facility, located at Ponneri High Road in Manali, Chennai, is now fully operational. Management emphasized that the temporary halt in production did not significantly affect the company's broader operational performance or financial stability.

Key Takeaways

• Plant 1 operations recommenced on July 5, 2026.
• The shutdown was undertaken for necessary maintenance work.
• The company reported no material adverse impact from the closure.