Mitsu Chem Plast Limited has released e-voting information for its Extra Ordinary General Meeting (EGM) scheduled for September 9, 2026. The company will convene the meeting at 2:30 pm through video conferencing or other audio-visual means to seek shareholder approval for a preferential allotment of convertible warrants.

The proposed transaction involves the issuance of up to 10 lakh warrants at a price of ₹151 each, raising an aggregate consideration of ₹15.1 crore. The funds are intended to meet working capital requirements. The allotment is structured as a special resolution under Section 42 and 62 of the Companies Act, 2013, and Chapter V of the SEBI (ICDR) Regulations, 2018.

E-Voting Schedule

Shareholders eligible to vote can participate via remote e-voting during the following window:

Allotment Details

The warrant issue is allocated among promoters and a non-promoter entity. Promoters Manish Mavji Dedhia and Sanjay Mavji Dedhia will subscribe to 4.75 lakh and 3.25 lakh warrants respectively. Non-promoter Rikhav Securities Limited, a listed entity, will take up the remaining 2 lakh warrants.

The issue price of ₹151 is determined based on the higher of the 90-day volume-weighted average price (₹146.04) or the 10-day volume-weighted average price (₹150.19) preceding the relevant date of August 10, 2026. An independent valuation report by Mr. Snehal Shah supports this pricing.

Terms and Conditions

Subscribers must pay 25% of the issue price at the time of subscription, with the balance 75% payable upon conversion. If warrants are not converted within 18 months, they will lapse, and the paid amount will be forfeited by the company. The resulting equity shares will rank pari passu with existing shares and be subject to lock-in periods as prescribed under SEBI regulations.

Board Appointment

The EGM agenda also includes the regularization of Ms. Drishti Shailesh Thakker as an Independent Director. Appointed as an Additional Director on August 14, 2026, she will serve a term of five consecutive years until August 13, 2031. Ms. Thakker, a Company Secretary with expertise in corporate governance and regulatory compliance, will receive remuneration via sitting fees.

Mitsu Chem Plast Limited published its financial results for the quarter ended June 30, 2026, in newspapers on August 15, 2026. The company confirmed a sharp acceleration in profitability, with net profit surging 566% year-on-year to ₹8.74 crore. Total income rose 11.62% to ₹95.33 crore for the period.

The disclosure was made in compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The advertisements appeared in Financial Express (all editions) and Mumbai Lakshadeep.

Financial Performance

The operating performance improved markedly, with EBITDA jumping 209.50% to ₹15.49 crore. This growth outpaced revenue expansion, driving the EBITDA margin up by 1,041 basis points to 16.29%, compared to 5.87% in the corresponding period of the previous fiscal year.

What the Numbers Show

The divergence between revenue growth and profit expansion highlights a significant operational leverage effect. While top-line revenue grew by a modest 11.62%, net profit increased by more than five times that rate (566%). This suggests that fixed costs were absorbed more efficiently or that the product mix shifted toward higher-margin segments, allowing the company to convert a larger portion of incremental revenue directly into bottom-line earnings. The EBITDA margin more than doubled, reinforcing the view that the profit surge was driven by core operational improvements rather than one-off items.

Preferential Issue and Capacity Expansion

Alongside the financial results, the company announced a proposed preferential issue of 10 lakh convertible warrants. The allottees include promoters Mr. Manish Dedhia (4.75 lakh warrants) and Mr. Sanjay Dedhia (3.25 lakh warrants), along with non-promoter Rikhav Securities Limited (2 lakh warrants).

Upon completion, the aggregate promoter shareholding is expected to increase from 67.77% to 68.61% on a fully diluted basis. Individually, Mr. Sanjay Dedhia’s holding will rise from 9.37% to 10.95%, while Mr. Manish Dedhia’s will increase from 12.34% to 14.75%.

The funds raised are intended to support growth and expansion plans, including a proposed addition of 3,550 metric tons per annum to its existing manufacturing capacity of over 32,450 metric tons per annum. The company noted that existing capacity utilization stood at 64% in FY26.

Management Commentary

Sanjay Dedhia, Executive Vice Chairman, stated that the quarter reflected continued progress in strengthening manufacturing capabilities across the diversified product portfolio. He emphasized that the capacity expansion would help cater to growing demand in key segments such as industrial packaging, healthcare products, and infrastructure solutions.

Mitsu Chem Plast serves original equipment manufacturers across sectors including chemicals, pharmaceuticals, and hospital furniture. In FY26, the company reported total income of ₹350.85 crore, with an EBITDA of ₹34.66 crore and a net profit of ₹15.62 crore.