Orient Press seeks approval to sell Tarapur factory for ₹24 crore at AGM
- Orient Press seeks approval to sell Tarapur factory for minimum ₹24 crore
- Factory contributed only 5.26% turnover but held 29.72% of net worth
- Three promoter directors up for re-appointment with fixed remuneration
- FY26 loss narrowed to ₹117.33 lakh from ₹277.55 lakh in FY25
*this image is generated using AI for illustrative purposes only.
Orient Press Limited will hold its 38th Annual General Meeting on September 28, 2026, at 11:30 am. The meeting, conducted via Video Conferencing or Other Audio Visual Means, seeks shareholder approval for the potential sale of its Tarapur factory and the re-appointment of key promoter directors.
Proposed Asset Disposal
The Board proposes to sell, transfer, or lease its factory located at Plot No. G-73, M.I.D.C. Tarapur Industrial Area, Boisar. The transaction requires a minimum consideration of ₹24 crore.
According to the explanatory statement, the Tarapur facility contributed only 5.26% of the company’s total turnover in FY26. However, funds deployed for its operations represented 29.72% of the company’s net worth. The Board argues that disposing of this asset will release capital to reduce interest burdens and mitigate losses. Operations from the Tarapur unit are proposed to be shifted to the company’s Greater Noida facility.
Director Re-appointments
Shareholders will vote on the re-appointment of three promoters as Whole-Time Directors for a three-year term starting in late 2026:
- Mr. Ramvilas Maheshwari: Re-appointed as Managing Director. Basic salary set at ₹1,04,650 per month with perquisites capped at ₹9,25,000 per annum.
- Mr. Rajaram Maheshwari: Re-appointed as Executive Director. Remuneration structure mirrors that of Mr. Ramvilas Maheshwari.
- Mr. Prakash Maheshwari: Re-appointed as Whole-Time Director. Basic salary set at ₹72,450 per month with perquisites capped at ₹6,90,000 per annum.
The company is currently incurring losses. Consequently, these remuneration packages are classified as minimum remuneration under Schedule V of the Companies Act, 2013. A special resolution is also required to approve remuneration exceeding 5% of net profits for these executive directors.
Additional Agenda Items
The AGM agenda includes the ratification of cost auditor remuneration for FY27. M/s Bhanwarlal Gurjar & Co., CMA, Surat, has been appointed as Cost Auditors for the financial year ending March 31, 2027. Their remuneration is set at ₹2,50,000 plus GST and reimbursement of out-of-pocket expenses.
Financial Context
The company reported a loss after tax of ₹117.33 lakh for FY26, an improvement from the ₹277.55 lakh loss recorded in FY25. Total income declined to ₹13,286.90 lakh in FY26 from ₹14,724.93 lakh in the previous year.
What the Numbers Show
The divergence between the Tarapur factory’s revenue contribution (5.26%) and its capital intensity (29.72% of net worth) highlights a significant asset inefficiency. The proposed sale aims to address this imbalance by freeing up trapped capital while consolidating operations into the more productive Greater Noida facility.
Historical Stock Returns for Orient Press
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.23% | -3.02% | -2.45% | +38.12% | -5.06% | +17.92% |
How will the ₹24 crore proceeds from the Tarapur factory sale specifically impact Orient Press's debt-to-equity ratio and interest coverage in the upcoming fiscal year?
What operational risks or capacity constraints might arise from consolidating Tarapur's production into the Greater Noida facility, and how will they be mitigated?
Given the company's continued losses, how does the Board justify the re-appointment of promoter directors with fixed remuneration under Schedule V, and what performance metrics will trigger future compensation adjustments?
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