Polson Limited has scheduled its 85th Annual General Meeting (AGM) for September 30, 2026, to transact ordinary and special business. The meeting will convene at the company's registered office in Kolhapur, Maharashtra, at 10:00 am.

Shareholders will consider the re-appointment of Mr. Youhaan Kapadia as an Executive Director by rotation. Additionally, the board seeks approval via special resolution for Mr. Dhau Lambore to continue as a Non-Executive Director beyond the age of 75 years, citing his extensive experience in leather chemicals.

Board Composition Changes

The agenda includes the re-appointment of Mr. Bhavin Suryakant Sheth as an Independent Director for a second term of five years, effective June 30, 2026. The Nomination and Remuneration Committee recommended his continuation based on his expertise in corporate governance and business development.

Mr. Pravin D. Samant resigned as Executive Director effective August 14, 2024. The current board comprises Chairman Rajiv Agarwal, Managing Director Amol Kapadia, and other non-executive and independent directors.

Related Party Transactions

A key special item involves the omnibus approval for related-party transactions with Atlas Refinery Private Limited (ARPL). ARPL is an enterprise where Key Managerial Personnel have significant influence. The company seeks shareholder consent for sales of goods up to ₹30 crore annually.

During FY25, transactions with ARPL totaled ₹22.53 crore. For the current financial year up to the quarter preceding this approval, transactions stood at ₹6.39 crore. The proposed limit represents approximately 25% of the company's annual consolidated turnover from the preceding year.

Corporate Governance Updates

The secretarial audit report highlighted certain compliance gaps. The company has not adequately implemented mechanisms for freezing PANs of promoters and directors as required by SEBI regulations. Furthermore, disclosures regarding trading closure windows were not uploaded in both PDF and XBRL formats for all quarters in FY25-26.

The statutory auditors noted that the company has not maintained proper records of fixed assets, though title deeds for immovable properties are held in the company's name. The management stated it is in the process of updating these records.

Financial Performance Context

For FY25, Polson reported revenue from operations of ₹9,116.03 lakh, a decline from ₹9,328.05 lakh in FY24. Profit after tax fell to ₹474.24 lakh from ₹523.09 lakh in the previous year. The board did not recommend a dividend for FY25, opting to plough back profits for future growth.

Polson Limited reported a net profit of ₹160.63 lakh for the quarter ended June 30, 2026, marking a 30.8% year-on-year increase from ₹122.82 lakh in Q1FY26. The Mumbai-based manufacturer of eco-friendly tannin extracts and leather chemicals saw revenue from operations rise 20.2% to ₹28.32 crore, up from ₹23.55 crore in the corresponding period of the previous fiscal year.

The improvement in profitability was underpinned by a decline in finance costs, which fell to ₹64.93 lakh from ₹89.41 lakh a year ago. Meanwhile, other income increased slightly to ₹51.06 lakh from ₹35.34 lakh. The company’s total comprehensive income for the period stood at ₹161.75 lakh.

Financial Performance Highlights

What the Numbers Show

While revenue grew by 20.2%, total expenses rose by a nearly identical margin of 19.9%. This synchronization suggests that cost structures, particularly material costs which jumped to ₹17.27 crore from ₹12.82 crore, moved in lockstep with top-line expansion. The primary driver for the improved bottom line was not operating leverage but rather a reduction in non-operating expenses, specifically finance costs, which dropped significantly alongside stable employee benefit expenses.

Corporate Governance Update

In other developments, the Board of Directors re-appointed Mr. Bhavin Suryakant Sheth as an Independent Director for a second term of five years, effective June 30, 2026. His appointment is subject to approval by members at the forthcoming Annual General Meeting. Mr. Sheth brings over 30 years of expertise in corporate governance and business development.

The unaudited standalone financial results were reviewed by M/s. R G B & Associates, the statutory auditors, and approved by the Board on August 14, 2026.