Pil Italica Lifestyle Limited announced that all five proposed resolutions were passed with the requisite majority at its 34th Annual General Meeting (AGM) held on June 19, 2026. The meeting, conducted via video conferencing and at the registered office in Udaipur, saw the adoption of audited financial statements for the year ended March 31, 2026, and the reappointment of key leadership personnel. Shareholders approved the reappointment of Mr. Narendra Bhanawat and Mr. Daud Ali for three-year terms, ensuring continuity in the company's strategic direction.

Voting Results and Resolutions

The remote e-voting facility, managed by CDSL, was open from June 16, 2026, to June 18, 2026. Mr. Ashok Modi, a Practicing Chartered Accountant, served as the Scrutinizer. The resolutions encompassed the adoption of financial statements and the reappointment of directors. Mr. Narendra Bhanawat, who retires by rotation, was reappointed as a Whole Time Director. Furthermore, Mr. Daud Ali was reappointed as Managing Director, and Mr. Himanshu Surendrakumar Gupta was reappointed as an Independent Director for a second consecutive term of five years.

Resolution Breakdown

The voting results indicated strong shareholder approval across all categories. The adoption of financial statements received 129,784,156 votes in favour and 1,000 against. The reappointment of Mr. Narendra Bhanawat as Whole Time Director received 129,783,756 votes in favour and 1,000 against, with 400 votes declared invalid as he was an interested party. The reappointment of Mr. Daud Ali as Managing Director received 129,467,706 votes in favour and 1,250 against, with 316,200 votes declared invalid.

Operational Highlights and Attendees

During the address, the Chairman highlighted the company's operational efficiency and strategic initiatives. The company reported a robust distribution network across India, comprising over 4,538 dealers, 410 direct dealers, and 216 distributors, supported by 13 strategically located fulfillment centers. The meeting was attended by key officials, including the Chairman and Managing Director, Whole Time Director and CFO, and members of the Audit and Risk Management Committees.

PIL Italica Lifestyle Limited has scheduled its 34th Annual General Meeting for June 19, 2026, at 11:00 A.M. through video conferencing and other audio-visual means, alongside a physical meeting at its registered office in Udaipur. The meeting seeks shareholder approval for the re-appointment of Whole-time Director Narendra Bhanawat, Managing Director Daud Ali, and Independent Director Himanshu Surendrakumar Gupta. The record date to determine shareholder eligibility is June 12, 2026.

Corporate Governance and AGM

The Board approved the re-appointments at a meeting held on May 7, 2026. Mr. Narendra Bhanawat is proposed to be re-appointed as Whole-time Director for a period of three years effective from May 29, 2027. Mr. Daud Ali is proposed to be re-appointed as Managing Director for three years effective from April 1, 2027. Mr. Himanshu Surendrakumar Gupta is proposed to be re-appointed as an Independent Director for a second term of five years effective from May 21, 2027. All resolutions require shareholder approval via special resolution.

Financial Performance

For the financial year ended March 31, 2026, the company reported a total income of ₹108.70 crore, compared to ₹100.83 crore in the previous year. Profit after tax stood at ₹4.49 crore for FY26, down from ₹5.24 crore in FY25, reflecting pressure from elevated polymer and raw material costs. Total expenses for the year were ₹102.65 crore, resulting in a profit before tax of ₹6.05 crore. EBITDA for FY26 was ₹9.33 crore with a margin of 8.59%.

Operational Highlights

PIL Italica expanded its pan-India presence during the year, reaching 22 states and union territories with a network of 4,538 dealers and 216 distributors. The company operates two manufacturing facilities in Udaipur and Silvassa, with a total production capacity of 8,450 MTPA. The Board has approved a capacity expansion initiative at the Silvassa facility with a planned capital outlay of ₹25 crore to boost annual production capacity by 1,600 MTPA.

Key Meeting Dates