Polson Ltd concluded its 85th Annual General Meeting (AGM) on September 30, 2026, at its registered office in Kolhapur, Maharashtra. The meeting focused on the adoption of financial statements for the fiscal year ended March 31, 2026, and several key governance resolutions.

Managing Director and Chairman Amol Kapadia chaired the session, welcoming board members and shareholders. The requisite quorum was present, with four directors attending the meeting. The Chairman provided a brief overview of the company's performance for FY26, discussing future prospects and business affairs, though specific financial figures were not detailed in the proceedings summary.

Resolutions passed at the meeting

The following items of business were transacted as per the notice dated August 14, 2026:

Voting and compliance details

The company facilitated remote e-voting through Purva Sharegistry (I) Private Limited from September 27 to September 29, 2026. Members present at the AGM who had not voted electronically were allowed to cast their votes via ballot paper. Amita Karia was appointed as the Scrutinizer to supervise the voting process.

The Chairman noted that observations in the Statutory Auditors' Report were addressed with suitable explanations by the directors, while secretarial audit observations were deemed self-explanatory. The meeting concluded at 10:40 am after a question-answer session where the Chairman addressed shareholder queries.

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.