Manas Polymers and Energies Ltd has received board approval to incorporate a wholly owned subsidiary in Dubai, UAE, as part of its strategy to expand international business operations. The decision, taken on June 2, 2026, aims to strengthen the company's presence in overseas markets and undertake business activities approved by the board from time to time. The new entity will be a 100% subsidiary, with initial capital contribution to be determined by the board within permissible limits under applicable laws.

The board meeting, convened under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, approved the proposal subject to receipt of necessary approvals and registrations. The company stated that the specific name for the subsidiary is yet to be finalized. The industry classification will be determined based on the business activities eventually approved by the board.

Key Details of the Proposed Subsidiary

The company confirmed that the proposed transaction does not fall under related party transactions. Manas Polymers and Energies Ltd will make further disclosures upon completion of the incorporation process and receipt of relevant documents from the concerned authorities. The board meeting commenced at 3:30 P.M. and concluded at 5:30 P.M. on June 2, 2026.

Manas Polymers and Energies Limited reported a 110% increase in net profit to ₹851.64 lakh for the financial year ended March 31, 2026, compared to ₹405.98 lakh in the previous year. Revenue from operations surged 68% to ₹5,300.02 lakh from ₹3,154.44 lakh in FY25, driven by the company's polymer and power segments. The total income for the year stood at ₹5,487.95 lakh.

The Board of Directors, at its meeting held on May 25, 2026, approved the audited standalone financial results for the quarter and financial year ended March 31, 2026. The meeting also approved the remuneration of Vineet Bhadauria, Managing Director, fixed at ₹2 lakh per month and 1.5% of profit as an annual bonus, within the limits prescribed under Section 197 of the Companies Act, 2013.

The company's earnings per share (EPS) for the year improved to ₹10.95 from ₹8.33 in the previous year. Total expenses for FY26 increased to ₹4,392.51 lakh from ₹2,756.95 lakh in the prior year, primarily due to higher material consumption and operational costs. The profit before tax and exceptional items rose to ₹1,095.44 lakh from ₹548.85 lakh.

Financial Performance

The audited financial results highlighted significant growth across key operational metrics. The finance costs for the year amounted to ₹89.67 lakh, while depreciation and amortization expenses stood at ₹280.04 lakh. The tax expense for the period was ₹243.80 lakh.

Fund Utilisation

The company confirmed that there was no deviation or variation in the utilisation of funds raised through its initial public offer, which was open from September 26, 2025, to September 30, 2025. The total amount raised was ₹2,352.24 lakh. Funds were fully utilised for public issue-related expenses, solar capex, polymer capex, and general corporate purposes as per the original allocation.

SSRV & Associates, Chartered Accountants, issued an unmodified opinion on the standalone financial results. Dhruv Bhadauria, Chief Financial Officer, declared that the auditors' report on the standalone audited financial results for FY26 was unmodified.