Mitsu Chem Plast shareholders approved the preferential issue of warrants and the appointment of a new independent director at its extraordinary general meeting on September 9, 2026.

The meeting, conducted via video conferencing, saw 37 members attend. Manish Dedhia, Managing Director and CFO, chaired the proceedings in the absence of Chairman Jagdish Dedhia.

Key Resolutions Passed

The company sought approval for two primary items of business during the EGM:

• Preferential Issue of Warrants: Shareholders approved the issue of up to 10,00,000 warrants convertible into equity shares with a face value of ₹10 each. These warrants are to be issued to promoters and non-promoters on a preferential basis.
• Appointment of Independent Director: The board recommended and shareholders approved the appointment of Ms. Drishti Shailesh Thakker (DIN: 11888392) as an independent director.

Voting Process and Participation

The company engaged Bigshare Services Private Limited to facilitate remote e-voting from September 6 to September 8, 2026. Voting rights were determined based on shareholding as of September 2, 2026. Mr. Maharshi Ganatra, a practicing company secretary, scrutinized the voting process.

While three shareholders registered to speak, only one attended to raise queries, which were addressed by the chairman. The consolidated e-voting results are scheduled for dissemination on the company website and to BSE Limited within two working days.

Mitsu Chem Plast announced an additional 600 MT/year capacity addition at its existing manufacturing facility, scheduled for completion in August 2026. This expansion is part of a broader plan to add 6,700 MT/year in FY27, comprising earlier additions of 2,550 MT/year in June 2026 and 3,550 MT/year also in August 2026.

The company cited sustaining growth, product diversification, and meeting market demand as the rationale for the expansion. The project will be financed through bank finance and internal accruals.

Capacity Details

What the Numbers Show

The proposed 600 MT/year addition represents a marginal increase in total production capability on its own. However, viewed alongside the cumulative 6,700 MT/year expansion planned for FY27, it signals a significant scaling effort. With existing capacity utilization at 64% for the year ended March 31, 2026, the new capacity suggests a targeted response to specific product demand rather than a broad-based volume surge. The relatively small scale of this specific investment (₹107.00 lakh) indicates focused machinery upgrades rather than large-scale infrastructure development.