SMVD Poly Pack reports FY26 profit, auditor flags going concern risk

SMVD Poly Pack Limited reported a net profit of ₹3,039.31 lakh for the financial year ended March 31, 2026, a significant turnaround from the prior year's ₹1,089.70 lakh, primarily due to the recognition of an exceptional insurance claim. The company's total revenue for FY26 stood at ₹222.03 lakh, while total expenditure was ₹317.61 lakh. The Board of Directors approved the audited financial results for the half year and full year ended March 31, 2026, during a meeting held on May 28, 2026.

Seksaria Tibrewal & Co., the statutory auditor, issued a qualified opinion on the financial statements. The qualification draws attention to the impact of a fire incident at the company's manufacturing facility and the subsequent reliance on management's proposed revival plans. The auditor noted that the implementation of the proposed project and the commencement of operations are contingent upon sanctioning funds from financial institutions and the outcome of legal proceedings the company intends to file against Oriental Insurance Company Limited regarding the claim settlement.

The financial statements have been prepared on a going concern basis based on these revival plans and expected financial assistance. During the year, the company received an insurance claim settlement of ₹4,767.24 lakh, with a balancing amount of ₹3,167.24 lakh recognized as an exceptional item. This receipt allowed the company to repay secured loans to banks and other creditors, resulting in no outstanding loan facilities as of the reporting date. However, the company has raised objections to the final settlement amount determined by the insurer and is preparing to file a commercial suit in the Calcutta High Court to recover the balance.

As a result of the insurance settlement and debt repayment, the company's net worth turned positive to ₹1,083.20 lakh as of March 31, 2026, compared to a negative net worth of ₹(1,956.12) lakh in the previous year. The company has temporarily parked available funds in fixed deposit accounts and granted temporary loans pending the execution of its proposed project, which includes setting up a new plant in Odisha.

In a key managerial appointment, the Board appointed Mr. Prateek Agarwal as the Chief Financial Officer of the company effective May 28, 2026. Mr. Agarwal is a Company Secretary and CA finalist with approximately 10-12 years of experience in accounts, finance, and marketing.

Financial Performance for FY26

The following table summarizes the audited financial results for the year ended March 31, 2026:

Particulars	Year Ended 31.03.2026 (Audited)	Year Ended 31.03.2025 (Audited)
Income
Revenue from Operations	9.07	37.42
Other Income	212.96	5.96
Total Revenue	222.03	43.38
Expenditure
Total Expenses	317.61	524.23
Profit before Exceptional Items	(95.58)	(480.85)
Exceptional Item	3,134.90	1,672.41
Net Profit for the period	3,039.31	1,089.70

Assets and Liabilities

The statement of assets and liabilities reflects the improved financial position following the debt repayment:

Particulars	As at 31.03.2026	As at 31.03.2025
Equity and Liabilities
Total Shareholders' Funds	1,083.20	(1,956.12)
Total Non-Current Liabilities	9.46	136.29
Total Current Liabilities	7.58	2,325.46
Total Equity & Liabilities	1,100.24	505.63
Assets
Total Non-Current Assets	279.87	326.91
Total Current Assets	820.37	178.73
Total Assets	1,100.24	505.63

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	0.0%	0.0%	+62.96%	-48.36%	+44.74%

SMVD Poly Pack Limited has submitted its annual promoter declaration under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for the financial year ending March 31, 2026. The filing, dated April 3, 2025, was addressed to the National Stock Exchange of India Limited and signed by Company Secretary Shikha Agarwal on behalf of the company.

Declaration Details

The yearly declaration was made by Pramod Kumar Agarwal, acting as the authorised signatory for all promoters and the promoter group. The declaration confirms that no encumbrances—direct or indirect—have been created on the shares of SMVD Poly Pack Limited beyond those already disclosed to the stock exchange or undertaken in the depository, in compliance with Regulation 31(1), (2), and (3) of the SEBI (SAST) Regulations, 2011, during the financial year ending March 31, 2026.

The following key details are associated with this regulatory filing:

Parameter:	Details
Target Company:	SMVD Polypack Limited
Stock Exchange:	National Stock Exchange of India Limited
Regulation:	Regulation 31(4) of SEBI (SAST) Regulations, 2011
Financial Year:	Ending March 31, 2026
Declaration Date:	April 3, 2025
Authorised Signatory:	Pramod Kumar Agarwal

Promoters and Persons Acting in Concert

The declaration covers the following promoters, members of the promoter group, and persons acting in concert (PAC):

Pramod Kumar Agarwal
Sangita Agarwal
Pawan Kumar Agarwal
Madhu Agarwal
Nityesh Agarwal
Aashakiran Commodeal Pvt. Ltd.
Tirumala Resins Pvt. Ltd.

Regulatory Compliance

The declaration reaffirms that all promoters and PAC entities have complied with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to both the Audit Committee/Board of Directors of SMVD Poly Pack Limited and the National Stock Exchange of India Limited, as required under the regulatory framework. The company's registered office is located at Imagine Techpark, Plot No. 6, DP Block, 24th Floor, Room No. 5A, Sector V, Bidhan Nagar, West Bengal – 700091.