Solve Plastic Products Limited has established a Structured Digital Database (SDD) for the financial year ended March 31, 2026, in compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The company's compliance officer, Divya Ajanthakumari, declared that two designated persons shared unpublished price sensitive information (UPSI) during the period. The shared information included Financial Results and Financial Data for Audit, which were disseminated to statutory and internal auditors for legitimate purposes.

The compliance certificate issued by CaesarPintoJohn & Associates LLP certifies that the company has a non-tamperable SDD in place with access controls and an audit trail maintained for eight years. The auditors confirmed that the company was required to capture six events during the reporting period and that these events have been recorded in the database. The system captures the nature of UPSI along with the date and time of dissemination.

However, the auditors observed specific lapses in the recording process. Certain entries pertaining to the sharing of UPSI were not recorded in the SDD on a contemporaneous basis at the relevant point in time. These entries were subsequently updated in the database by the company. The delay in recording was noted during the verification process conducted by the company secretaries.

The following details outline the specific UPSI shared during the financial year:

In response to the findings, the management of solve plastic products informed the auditors that corrective steps and process strengthening measures have been initiated. The objective of these measures is to ensure the timely and contemporaneous recording of UPSI events in the future. The certificate is dated May 30, 2026, and forms part of the company's regulatory submissions.

Solve Plastic Products Limited has commenced the remote e-voting process for its postal ballot, seeking shareholder approval for the variation in the objects of its Initial Public Offer (IPO) and the utilisation of unutilised IPO proceeds. The e-voting period is scheduled from May 22, 2026, to June 20, 2026.

Key Resolutions and Voting Details

The Board of Directors approved the variation in the utilisation of IPO proceeds at its meeting held on May 15, 2026. The special resolution seeks approval to redirect funds originally allocated for an HDPE pipe manufacturing project towards plant consolidation and the purchase of additional machinery. The cut-off date for determining shareholder eligibility is May 15, 2026.

Rationale for Variation in Objects

The company proposes to cancel the HDPE pipe project due to stalled infrastructure projects in Kerala, specifically the Jal Jeevan Mission, and global oversupply leading to weak demand. Instead, the board recommends consolidating manufacturing plants from four locations to two—Shencotta to Edamon and Punalur to Kannur—and purchasing additional machinery including a Distributor Management System and Injection Moulding units.

Financial Impact and Timeline

The proposed reallocation is expected to generate potential annual savings of approximately ₹2.34 crore. The consolidation and expansion activities, including machinery procurement and facility upgrades, are anticipated to be completed within 6 to 10 months. The Promoters and Controlling Shareholders will offer an exit opportunity to dissenting shareholders at a price determined by a SEBI-registered merchant banker.