Sundaram Multi Pap has scheduled its 32nd Annual General Meeting for Tuesday, September 29, 2026, at 11:30 am. The event will be conducted through Video Conferencing or Other Audio Visual Means.

The meeting agenda includes the adoption of audited standalone financial statements for FY26 and the re-appointment of several board members. Shareholders will vote on ordinary and special resolutions regarding director tenures.

Board Re-Appointments

The primary special business items involve the re-appointment of executive and independent directors for terms commencing in 2027. The resolutions seek shareholder approval for the following appointments:

Amrut P. Shah, Shantilal P. Shah, and Krunal S. Shah are proposed for re-appointment as Managing Director and Whole-Time Directors respectively. Their proposed remuneration shall not exceed ₹75 lakh per annum each, exclusive of perquisites. This cap applies subject to the company’s profit levels; if profits are inadequate, remuneration will be governed by Schedule V of the Companies Act, 2013.

Shantilal P. Shah also retires by rotation and offers himself for re-appointment as a director under Item No. 2 of the notice.

Financial Context

The explanatory statement notes that the company reported a turnover of ₹13,711.25 lakh for FY26, up from ₹12,742.55 lakh in FY25. Net profit stood at ₹317.95 lakh for FY26, a recovery from a net loss of ₹512.07 lakh in the previous year. Despite the return to profitability, the board cites inadequate profits relative to remuneration ceilings, necessitating the special resolution for managerial pay.

Voting Details

The cut-off date for determining voting eligibility is Tuesday, September 22, 2026. Remote e-voting will be available from Saturday, September 26, 2026, at 9:00 am to Monday, September 28, 2026, at 5:00 pm. The register of members will remain closed from September 23, 2026, to September 29, 2026.

Sundaram Multi Pap Limited reported a net profit of ₹317.95 lakh for the financial year ended March 31, 2026 (FY26), marking a significant turnaround from a net loss of ₹512.07 lakh in FY25. The company's total income grew 7.6% year-on-year to ₹13,920.38 lakh, driven by expanded pan-India operations and improved operational efficiencies.

The stationery manufacturer attributed the return to profitability to higher sales volumes and effective cost optimization measures. While revenue from operations rose to ₹13,711.25 lakh from ₹12,742.55 lakh in the previous year, total expenses also increased to ₹13,643.99 lakh due to higher business volume.

Financial Performance

The company's EBITDA margin improved sharply to 6.01% in FY26, up from 1.46% in FY25. This expansion was supported by an operating profit margin of 2.02%, compared to -2.68% in the prior year. Finance costs declined significantly to ₹154.41 lakh from ₹267.51 lakh, aiding the bottom-line recovery.

What the Numbers Show

A notable divergence exists between the company's accounting profitability and its cash generation. While Sundaram Multi Pap posted a net profit of ₹317.95 lakh, it recorded negative cash flow from operating activities of ₹217.91 lakh. This outflow was primarily driven by a ₹784.16 lakh increase in inventory levels, which rose to ₹4,065.73 lakh at year-end. Simultaneously, trade receivables decreased by ₹122.17 lakh, indicating tighter collection cycles despite the inventory buildup.

Balance Sheet and Capital Structure

The company reduced its total borrowings to ₹2,001.74 lakh from ₹2,550.91 lakh in FY25. Current borrowings stood at ₹1,716.37 lakh, while non-current borrowings were ₹285.37 lakh. The debt-to-equity ratio improved to 0.42 times from 0.54 times. Net worth increased to ₹9,069.21 lakh, reflecting the retention of current-year profits.

Governance and AGM Details

The Board did not recommend any dividend for FY26, opting instead to retain profits to strengthen the financial position. The 32nd Annual General Meeting is scheduled for September 29, 2026, via video conference. Key agenda items include the reappointment of Managing Director Amrut P. Shah and Whole-Time Directors Shantilal P. Shah and Krunal S. Shah for three-year terms commencing April 1, 2027.

Independent Directors Jyoti C. Gala and Mahesh D. Bhanushali are also up for reappointment for five-year terms. The company continues to focus on scaling its digital education initiative, E-Class, alongside its core paper stationery business.