Tijaria Polypipes Limited has scheduled its 20th Annual General Meeting for August 7, 2026, at its registered office in Jaipur to transact business including the adoption of financial statements for the year ended March 31, 2026. The meeting will also seek shareholder approval for the appointment of M/s. Pramod & Associates as statutory auditors to fill a casual vacancy and the appointment of Ms. Vishakha Saini as a Non-Executive Independent Director for a term of five years. The Board of Directors approved these proposals during a meeting held on July 9, 2026.

Book Closure and E-Voting

Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the register of members and share transfer books of the company will remain closed from Friday July 31, 2026 to Friday August 07, 2026 (both days inclusive) for the purpose of the 20th Annual General Meeting. The record date for determining eligibility is Friday July 31, 2026. The remote e-voting period begins on August 4, 2026, at 10:00 AM and ends on August 6, 2026, at 5:00 PM.

Auditor Appointment

The board approved the appointment of M/s. Pramod & Associates, Chartered Accountants (FRN no. 001557C), as statutory auditors. This appointment fills the casual vacancy caused by the resignation of M/s. Amit Ramakant & Co. The firm will hold office from July 9, 2026, until the conclusion of the 20th AGM. Subsequently, subject to shareholder approval, the firm is appointed for a term of one year from the conclusion of the 20th AGM until the conclusion of the 21st AGM to be held in 2027.

Director Appointment

Ms. Vishakha Saini (DIN: 11800700) was appointed as a Non-Executive Independent Director effective from August 7, 2026, for a period of five years, subject to member approval. The board confirmed she is not related to any existing director of the company. Additionally, Mr. Praveen Jain Tijaria, Whole-Time Director, is liable to retire by rotation at the ensuing AGM and being eligible, offers himself for re-appointment.

Tijaria Polypipes Limited reported a net loss of ₹12.87 crore for the financial year ended March 31, 2026, narrowing from a loss of ₹54.30 crore in the previous year. Total income decreased to ₹2.23 crore from ₹2.98 crore in FY25, reflecting the company's ongoing operational struggles. The Board of Directors has not recommended any dividend for the year due to the absence of surplus.

Financial Performance

The company’s financial results for the year ended March 31, 2026, show a mixed performance with a reduced loss but lower revenue. The table below summarizes the key financial figures:

The reduction in net loss is attributed to lower exceptional items and expenses, despite the drop in total income. However, the company continues to face significant financial headwinds.

Operational Challenges and Outlook

The Board’s report highlights that the company’s bank accounts have been declared Non-Performing Assets (NPA) by the Bank of India, leading to their seizure. Consequently, the company has been unable to make payments from its accounts, and directors have been making payments and receipts on behalf of the company from their personal accounts. The textile unit has been closed for several years due to financial burdens, and the pipeline division has not received any orders, resulting in no production being carried out for an extended period.

A legal case is pending before the National Company Law Tribunal (NCLT), Jaipur, regarding an insolvency petition filed by the Bank of India. The company’s promoters are attempting to settle the NPA loans, but the bank has not agreed to the proposed terms. The future outlook remains uncertain, with the company stating it is not in a position to resume business operations in the Yarn Division due to a paucity of funds.

Auditor’s Observations

The statutory auditors, M/s. Amit Ramakant & Co., issued a report with a disclaimer of opinion, citing an inability to determine the consequential impact of specific transactions on the standalone financial statements. Key issues include:

• NPA and Forfeiture: The Bank of India declared the company an NPA, with an outstanding loan of ₹72.50 crore and bank guarantees of ₹57 lakh. The bank has forfeited equity shares of promoters and directors worth ₹4.74 crore.
• Loans and Advances: Outstanding receivables and advances to suppliers totaling ₹25.14 lakh lack independent balance confirmations, raising concerns about recoverability.
• Tax Assets: A gross tax asset of ₹26.09 lakh exists, but the status of assessments, refunds, or appeals was not provided, making recoverability uncertain.
• Asset Valuation: The Board did not conduct a valuation of plant and machinery for the textile and pipe divisions during the financial year.

Corporate Governance and Board Decisions

The Board has appointed M/s. Pramod & Associates, Chartered Accountants, as the statutory auditors to fill a casual vacancy. Additionally, the company will seek shareholder approval at the upcoming Annual General Meeting (AGM) to appoint Ms. Vishakha Saini as a Non-Executive Independent Director for a term of five years. The AGM is scheduled for August 7, 2026.