Tirth Plastic shareholders approved the issuance of 45,00,000 Fully Convertible Warrants and the appointment of a new independent director through a postal ballot process concluded on August 23, 2026.

The company submitted the voting results to the Bombay Stock Exchange on August 24, 2026, following the scrutiny report by M/S A. Shah and Associates. Both special resolutions passed with overwhelming support from public non-institutional shareholders, while promoters and institutional investors did not participate in the voting process.

Voting Results

The postal ballot involved 9,351 shareholders on the record date of July 21, 2026. The e-voting period ran from July 25, 2026, until August 23, 2026. No physical postal ballots were received; all votes were cast via remote e-voting.

Resolution 1: Warrant Issuance

The first resolution authorized the preferential issuance of 45,00,000 Fully Convertible Warrants to non-promoter category persons. Each warrant has a face value of ₹10 and an issue price of ₹30. Holders can convert one warrant into one equity share based on the registered valuer's report.

Promoters and promoter group hold 10,47,160 shares but did not cast any votes. The resolution passed with the requisite majority under Section 108 of the Companies Act, 2013.

Resolution 2: Director Appointment

The second resolution approved the appointment of Ms. Nidhi Bharatbhai Gandhi (DIN: 11086584) as a Non-Executive Independent Director. Unlike the first resolution, promoters were interested in this agenda item but still abstained from voting.

This resolution also passed with the requisite majority. The low number of votes against (17) indicates strong consensus among participating shareholders for the governance change.

Regulatory Compliance

Mr. Jigar Mukeshbhai Shah, Managing Director (DIN: 06605922), signed the disclosure letter addressed to the General Manager at BSE Limited. The results comply with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The final outcome is published on the company's website alongside the scrutinizer's report.

Tirth Plastic reported a net profit of ₹19.91 lakh for the first quarter of FY27 (ended June 30, 2026), reversing a loss of ₹2.34 lakh recorded in the corresponding period of FY26. Revenue from operations rose to ₹522.64 lakh, up from zero in Q1FY26, driven by purchases of stock-in-trade totaling ₹490.60 lakh.

The company’s board of directors approved the unaudited standalone financial results during a meeting held on August 12, 2026. The results were accompanied by a limited review report issued by statutory auditors SSRV & Associates.

Financial Performance

Key financial metrics for the quarter highlight a return to profitability and operational activity:

For the full fiscal year ended March 31, 2026, the company reported total revenue of ₹957.85 lakh and a net profit of ₹37.97 lakh. Current tax expense for Q1FY27 was ₹5.17 lakh.

Corporate Actions

In addition to approving the financial results, the board finalized details for the upcoming Annual General Meeting (AGM). The company appointed M/s A Shah & Associates as the scrutinizer for the AGM and approved the draft notice, directors' report, and secretarial audit report for FY26.

The board also issued a corrigendum regarding the preferential issue of warrants. Mr. Pragneshkumar Girishchandra Dave was replaced as a proposed allottee following an SEBI order that rendered him ineligible. Mrs. Vandana Ben K Bhutiyani has been appointed as his replacement, with all other terms remaining unchanged.

What the Numbers Show

The shift from a loss to profit in Q1FY27 is directly linked to the resumption of operational revenue, which stood at zero in the prior year quarter. With total expenses at ₹497.56 lakh against revenue of ₹522.64 lakh, the company maintained a narrow operating margin, indicating tight cost control or low-margin trading activities given the high proportion of stock-in-trade purchases relative to total revenue.