Plastiblends India Limited shareholders approved a final dividend of ₹3.00 per equity share for the financial year ended March 31, 2026, during the company’s 35th Annual General Meeting held on August 24, 2026.

The meeting, conducted via Video Conferencing/Other Audio Visual Means (OAVM), also saw the reappointment of Varun S. Kabra as Vice-Chairman and Managing Director for a five-year term starting August 1, 2026.

Key Resolutions Passed

The members transacted several agenda items, including the adoption of audited financial statements for FY26. The Board had appointed partners from M/s Bhandari & Associates as scrutinizers to supervise the e-voting process.

Leadership and Governance

Satyanarayan G. Kabra, Chairman and Managing Director, chaired the proceedings. Varun S. Kabra, Vice-Chairman and Managing Director, along with CFO Anand R. Mundra, addressed member queries regarding the financial statements and operational updates.

The Board also sought approval for the remuneration of Cost Auditors M/s Urvashi Kamal Mehta & Co for the financial year 2026-27. Statutory Auditors M/s Kirtane and Pandit LLP and Secretarial Auditors M/s Bhandari & Associates were represented at the meeting.

Plastiblends India Limited promoters Varun S. Kabra and Jyoti V. Kabra have acquired a combined 8.85% stake in the company through an inter-se transfer from Kolsite Corporation LLP. The acquisition of 23,02,084 shares was executed at market price, with the transaction scheduled to occur any time after four working days from the date of the disclosure notice issued on July 29, 2026. This restructuring consolidates promoter ownership without altering the aggregate promoter holding, which stands at 62.22% both before and after the transaction.

The acquisition falls under the exemption provided by Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, meaning no open offer is required. The volume-weighted average market price for the shares over the 60 trading days preceding the notice was ₹179. The acquirers declared that the acquisition price would not exceed 25% of this computed benchmark price and confirmed compliance with all conditions specified under the exemption clause.

Shareholding Changes

The transfer results in a significant shift in individual promoter holdings while keeping the collective promoter group stake constant. Varun S. Kabra’s holding increases by 11,51,042 shares, while Jyoti V. Kabra’s stake rises by 11,51,042 shares. Kolsite Corporation LLP reduces its holding substantially, retaining only 1,000 shares post-transaction.

Regulatory Compliance

The acquirers affirmed that both the transferor and transferee have complied with applicable disclosure requirements under Chapter V of the Takeover Regulations during the three years prior to the proposed acquisition. The declaration was signed by Varun S. Kabra on behalf of all acquirers in Mumbai on July 29, 2026. The filing ensures transparency regarding the movement of shares within the promoter group, maintaining regulatory adherence without triggering broader market obligations such as an open offer.