Promact Plastics Limited has reshuffled its boardroom by appointing two new independent directors while accepting the resignations of two others, alongside scheduling its 42nd Annual General Meeting (AGM) for September 14, 2026. The changes, approved during a board meeting held on July 29, 2026, aim to maintain regulatory compliance and ensure continuity in corporate governance structures as the company prepares for its annual shareholder vote. Shareholders will need to approve the new appointments at the AGM.

The Board of Directors, acting on the recommendation of the Nomination and Remuneration Committee (NRC), appointed Mr. Prakashchandra D. Patel (DIN: 11845046) and Mr. Babubhai H. Patel (DIN: 11850954) as Additional Directors in the category of Non-Executive Independent Directors. Both appointments are effective from July 29, 2026, for a term of five consecutive years, subject to ratification by shareholders at the ensuing AGM. Concurrently, the board accepted the resignations of Mr. Akash D. Patel (DIN: 07941021) and Mr. Krunalkumar P. Patel (DIN: 10653840) from their positions as Independent Directors, also effective July 29, 2026, citing pre-occupation elsewhere as the reason for their departure.

The incoming directors bring extensive experience in finance and banking. Mr. Prakashchandra D. Patel holds a B.Com degree and possesses 39 years of professional experience, including 33 years in banking and six years in accounting within calico mills. Mr. Babubhai H. Patel, also a B.Com graduate, brings 56 years of total experience in banking and finance, having served as a clerk to manager in nationalized banks and as a manager in cooperative banks. Neither director holds any shareholding in the company, and both have affirmed they are not debarred from holding office by SEBI or any other authority.

In addition to board changes, the Board approved the appointment of M/s. Kashyap R. Mehta & Partners (FRN: P2025GJ106000) as Secretarial Auditors for a term of five consecutive financial years, commencing from FY27 to FY31. This appointment was made on the recommendation of the Audit Committee, in compliance with Section 204 of the Companies Act, 2013 and Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The firm, based in Ahmedabad, is led by Managing Partner Yash K. Mehta, who has over 15 years of post-qualification experience.

The board also reconstituted three key committees effective July 29, 2026:

• Audit Committee: Chaired by Prakashchandra D. Patel, with members Babubhai H. Patel and Ankit J. Patel (Managing Director).
• Nomination & Remuneration Committee: Chaired by Prakashchandra D. Patel, with members Babubhai H. Patel and Nikita Patel (Non-Executive Director).
• Stakeholders' Relationship Committee: Chaired by Prakashchandra D. Patel, with members Babubhai H. Patel and Nikita Patel.

The 42nd AGM will be convened on September 14, 2026, at 3:00 p.m. IST through Video Conferencing/Other Audio Visual Means (OAVM), in compliance with MCA General Circular No. 903/2025 and earlier circulars extending relaxation under the Companies Act, 2013. Shareholders can cast their votes via remote e-voting starting September 11, 2026, at 9:00 a.m., until September 13, 2026, at 5:00 p.m. The cut-off date for determining voting rights is September 7, 2026.

Promact Plastics has re-appointed Ankit J. Patel as the Managing Director of the company for a period of three years effective July 17, 2026. The decision was taken by the Board of Directors during a meeting held on July 15, 2026, based on the recommendation of the Nomination and Remuneration Committee. The re-appointment is subject to the approval of members at the ensuing 42nd Annual General Meeting of the company.

The Board meeting commenced at 5:30 p.m. and concluded at 6:00 p.m. on the same day. The company disclosed that Mr. Patel holds 4,81,939 Equity shares, representing a 7.40% stake in the entity. He is a relative of Ms. Nikita J. Patel, who is also a Director of the company.

Director Profile and Details

Mr. Patel holds a Bachelor of Computer Science & Engineering degree from the USA. He brings extensive experience in the fields of import & export trading, technology, general administration, and management to the role. The company affirmed that he is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.

The following table outlines the key details regarding the re-appointment:

Regulatory Disclosures

The re-appointment was disclosed in accordance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Mr. Patel does not hold directorship in any other listed company as of date and has not held such a position in any other listed entity in the past three years. Upon re-appointment, he shall be liable to retire by rotation.