Prima Plastics Limited has received regulatory approval for its corporate restructuring initiative, with the National Company Law Tribunal sanctioning a significant scheme of arrangement. The development marks an important milestone in the company's strategic reorganization efforts.

NCLT Approval Details

The Hon'ble National Company Law Tribunal, Ahmedabad Bench has sanctioned the Scheme of Arrangement involving Prima Plastics Limited and Prima Innovation Limited, along with their respective shareholders and creditors. The order was issued on March 16, 2026, and was uploaded on the NCLT website on the same day.

Scheme Implementation

The approved scheme has been structured under Sections 230 to 232 read with other applicable provisions of the Companies Act, 2013. The arrangement encompasses both companies along with their respective shareholders and creditors, indicating a comprehensive corporate restructuring exercise.

The scheme will come into effect from the date of filing the certified copy of the NCLT order with the Registrar of Companies, which is defined as the "Effective Date" under the scheme provisions. The company is currently awaiting the certified copy of the order for this filing process.

Regulatory Compliance

Prima Plastics Limited has made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was signed by Nehal Goyal, Company Secretary & Compliance Officer, ensuring proper regulatory compliance.

The company has also made the NCLT order available to stakeholders through its investor relations portal, demonstrating transparency in corporate communications. This accessibility allows shareholders and other interested parties to review the complete details of the sanctioned scheme.

Prima Plastics Limited has delivered a strong financial performance for the quarter ended December 31, 2025, while also making key leadership appointments to strengthen its corporate governance structure. The company's Board of Directors approved the unaudited financial results and key appointments during their meeting held on February 11, 2026.

Consolidated Financial Performance

The company's consolidated operations showed impressive results for Q3FY26. Revenue from operations reached ₹5,310.11 lakhs, representing growth from ₹5,125.33 lakhs in the corresponding quarter of the previous year. The quarter also benefited from other income of ₹18.27 lakhs, bringing total income to ₹5,328.38 lakhs.

Net profit for the quarter stood at ₹533.51 lakhs, marking a substantial increase from ₹346.46 lakhs in Q3FY25. This strong profitability was supported by effective cost management and operational efficiency improvements. Basic earnings per share increased to ₹4.60 from ₹3.00 in the corresponding previous quarter.

Key Leadership Appointment

The Board approved the appointment of Ms. Nehal Goyal as Company Secretary and Compliance Officer, effective February 11, 2026, pursuant to Section 203 of Companies Act, 2013 and Regulation 6 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment was made based on the recommendation of the Nomination and Remuneration Committee.

Ms. Goyal is an Associate Member of the Institute of Company Secretaries of India and holds a Bachelor's degree in Commerce from Rajasthan University. She is also pursuing a Bachelor's in Law from University of Mumbai. She brings three years of diverse professional experience in secretarial, compliance, and legal fields.

Nine-Month Performance Highlights

For the nine months ended December 31, 2025, Prima Plastics maintained its growth trajectory with consolidated revenue from operations of ₹14,965.53 lakhs compared to ₹13,585.21 lakhs in the corresponding period of the previous year. Net profit for the nine-month period reached ₹1,212.21 lakhs, up from ₹1,046.40 lakhs in the previous year.

Business Operations and Outlook

Prima Plastics operates in the plastic articles segment, manufacturing moulded furniture and roto moulded products. The company continues to progress with its demerger scheme, with the next NCLT hearing scheduled for February 12, 2026, regarding the separation of its Rotational Moulding Business into wholly-owned subsidiary Prima Innovation Limited.

The Board Meeting commenced at 1430 hours (IST) and concluded at 1545 hours (IST). The financial results were reviewed by the Audit Committee and approved by the Board of Directors. The company's auditors issued an unmodified review report on the quarterly results, confirming compliance with applicable accounting standards and listing regulations.