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.

Jayantibhai Somabhai Patel has increased his shareholding in Promact Plastics Limited to 9.42% through an open market acquisition of 1,46,101 equity shares on June 3, 2026. This transaction adjusts the total promoter group holding to 40.37%, following a reduction in stakes by other Persons Acting in Concert (PAC). The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Prior to this acquisition, Jayantibhai Somabhai Patel held 7.18% of the total paid-up equity share capital, amounting to 4,67,122 shares of Rs. 10 each. Following the purchase, his individual holding rose to 6,13,223 shares. The acquisition coincided with a reshuffle within the promoter group, which saw Patel Mital Sachinkumar and Patel Mittal D reduce their holdings by 81,188 and 65,000 shares respectively.

The total equity share capital of Promact Plastics Limited remains unchanged at Rs. 6,51,18,000, representing 65,11,800 fully paid-up equity shares of Rs. 10 each. The diluted share capital also remains constant at this level. The acquirer confirmed that the shares were purchased on the open market and that no encumbrance, warrants, or convertible securities were involved in the transaction.

The following table details the shareholding changes within the promoter group following the acquisition and sale of shares:

The filing confirms that all regulatory disclosure requirements have been met regarding the substantial acquisition of shares. The promoter group continues to hold a significant stake in the company, which is listed on BSE Limited.