Pankaj Polymers shareholders approved the regularization of five directors at an Extra-Ordinary General Meeting (EGM) held on August 22, 2026. The resolution confirms appointments initially made as Additional Directors in June 2026.

The meeting, conducted via Video Conferencing/Other Audio-Visual Means (VC/OAVM), saw 51 members attend physically or virtually. Remote e-voting was available from August 19, 2026, at 9:00 am to August 21, 2026, at 5:00 pm. M/s Akash & Co., Company Secretaries, acted as the scrutinizer.

Key Resolutions Approved

Shareholders voted on twelve items of business. The key outcomes include:

• Capital Raise: Approval for the preferential issuance of up to 8,55,000 equity shares to non-promoters and up to 22,20,000 warrants convertible into equity shares to both promoter and non-promoter categories. The issue price for both equity shares and warrants is fixed at ₹81 each.
• Corporate Restructuring: Approval for the change of the company’s name and consequent alterations to the Memorandum of Association (MoA) and Articles of Association (AoA).
• Office Relocation: Authorization to shift the registered office from Telangana to the National Capital Territory of Delhi, with corresponding MoA changes.
• Board Regularization: Regularization of Mr. Mayank Chawla as Executive Director and Whole Time Director & CEO for five years. Mr. Vikas Garg and Mr. Rahul Nagar were regularized as Non-Executive Non-Independent Directors. Mr. Siba Narayan Panda and Ms. Richa Kathuria were regularized as Independent Directors.
• Audit Appointment: Appointment of statutory auditors to fill a casual vacancy.
• MoA Alteration: Approval for alteration in the Object Clause (Clause III) of the MoA.

Voting Results

The consolidated voting results show overwhelming support for most resolutions. Below are the results for key resolutions:

Resolutions regarding the regularization of Mr. Vikas Garg and Mr. Rahul Nagar saw slightly lower participation, with valid votes constituting approximately 65.65% of total votes cast, due to a significant number of invalid votes (11,25,000 votes each). However, both resolutions were duly passed with requisite majority.

Governance and Voting Process

The Company Secretary & Compliance Officer confirmed that the requisite quorum was present. The e-voting platform was provided by Kfin Technologies Limited. After the conclusion of the EGM, votes were unblocked and downloaded from the NSDL e-voting website in the presence of two independent witnesses, Ms. Gurusha Tiwari and Ms. Riya Kumari.

The management of the company is responsible for ensuring compliance with the Companies Act, 2013, and related rules. The scrutinizer’s responsibility was limited to reporting the votes cast in favour or against the resolutions.

What the Numbers Show

The simultaneous approval of a name change, office relocation, and significant capital raising via warrants suggests a strategic repositioning phase for the company. The regularization of multiple board members in a single EGM indicates a consolidation of governance structures alongside these operational shifts. The near-unanimous support for the core restructuring resolutions highlights strong shareholder alignment with the proposed strategic direction.

Pankaj Polymers Limited reported a net profit of ₹45.47 lakh for the quarter ended June 30, 2026, marking a significant turnaround from the loss of ₹17.31 lakh recorded in the corresponding period of FY25. The company’s revenue from operations more than doubled, rising 109% year-on-year to ₹96.29 lakh from ₹45.97 lakh. This operational improvement was bolstered by a sharp increase in other income, which jumped to ₹87.19 lakh from ₹19.01 lakh a year ago, driving total income to ₹183.48 lakh. The profitability shift signals stabilization under new management following a change in control.

The Board of Directors approved the unaudited standalone financial results during its meeting held on August 10, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, M/s. Shilpi Sharma & Company, Chartered Accountants, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also disclosed significant changes in ownership and control during the quarter, following a share purchase agreement that transferred control to new promoters.

Financial Performance Overview

The company’s profitability improved substantially as total expenses remained contained at ₹122.04 lakh, despite the rise in raw material costs to ₹96.23 lakh. Employee benefits expense decreased to ₹4.57 lakh from ₹8.14 lakh in the previous quarter, contributing to margin expansion. Finance costs were nil for the quarter, compared to ₹6.55 lakh in March 2026 and ₹4.46 lakh in June 2025.

What the Numbers Show

A key analytical observation is the disproportionate contribution of other income to the bottom line. While revenue from operations grew significantly, other income accounted for nearly 47% of total income in Q1FY26, up from approximately 29% in Q1FY25. This suggests that while core operations are strengthening, non-operating items continue to play a substantial role in the company’s overall profitability. The absence of finance costs in the current quarter further aided the profit turnaround, contrasting with the debt-related expenses seen in earlier periods.

Change in Ownership and Control

The filing highlights a comprehensive restructuring of the company’s ownership and management. Pursuant to a Share Purchase Agreement, Mr. Sandeep Jain, Mr. Vikas Garg, Mr. Rahul Nagar, and Mr. Himanshu Arora acquired equity shares from the erstwhile promoter group, becoming the new promoters. The mandatory open offer was completed in accordance with SEBI regulations, and the erstwhile promoters were reclassified under the "Public" category. Consequently, new executive, non-executive, and independent directors were appointed, while certain existing directors and the Chief Financial Officer resigned. The Whole-time Director was re-designated as a Non-Executive Director.

The statutory auditors noted that the financial results for the corresponding quarter ended June 30, 2025, and the year ended March 31, 2026, were previously reviewed or audited by Rameshchand Jain, Luharuka & Associates. The current results were prepared in accordance with Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013.