Tirupati Foam Limited held its 39th Annual General Meeting (AGM) on August 20, 2026, through video conferencing in compliance with SEBI LODR Regulations 2015. The meeting commenced at 3:30 pm and concluded at 3:46 pm, with requisite quorum present as per Section 103 of the Companies Act, 2013.

Key Resolutions Passed

Shareholders approved several ordinary and special business items during the proceedings. The primary resolutions included:

• Adoption of the audited financial statements for FY26.
• Reappointment of Roshan P Sanghavi, Deepak T Mehta, and Satish A Mehta as directors, all of whom were retiring by rotation.
• Approval of the recommended dividend for the fiscal year.
• Ratification of the remuneration for Cost Auditor B.R. & Associates for FY27.
• Reappointment of Manish R Patel as a Non-Executive and Independent Director for his second term.
• Approval for the sale or disposal of surplus land and building parcels located in Noida.

Audit and Governance

The statutory auditors, F P and Associates, issued an unqualified opinion on the financial statements for FY26. The audit report contained no qualifications, observations, or adverse comments regarding matters material to the company’s functioning.

The meeting was chaired by Chairman and Managing Director Roshan P Sanghvi. Other key attendees included Statutory Auditor Fenil Shah, Scrutinizer D A Rupawala, Cost Auditor Rahul Bandiwadekar, Secretarial Auditor Hussain Bootwala, and Chief Financial Officer Gopalsinh Zala.

Voting Process

Remote e-voting was conducted from August 17, 2026, at 9:00 am to August 19, 2026, at 5:00 pm. Members who did not vote electronically during this window were given an additional 30 minutes after the conclusion of the AGM to cast their votes via the INSTAVOTE platform. The final voting results, including remote e-voting data, will be filed separately with the Bombay Stock Exchange.

Tirupati Foam Limited reported a significant improvement in profitability for the first quarter of FY27, with net profit rising nearly 60% year-on-year. The polyurethane foam manufacturer posted a net profit of ₹67.76 lakh for the quarter ended June 30, 2026, compared to ₹42.39 lakh in the same period last year. This growth was underpinned by a 22.3% surge in revenue from operations, which reached ₹2,809.26 lakh, up from ₹2,296.46 lakh in Q1FY26.

The company’s Board of Directors approved the unaudited standalone financial results at a meeting held on August 12, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by statutory auditors F P & Associates.

Financial Performance

Revenue from operations expanded by ₹512.80 lakh sequentially from ₹2,437.88 lakh in Q4FY26 and by ₹512.80 lakh annually. Total income for the quarter stood at ₹2,817.73 lakh, including other income of ₹8.48 lakh.

Operating profit before exceptional items increased 52.1% to ₹87.85 lakh from ₹57.76 lakh in the corresponding period last year. This expansion occurred despite a sharp rise in cost of materials consumed, which jumped to ₹2,374.92 lakh from ₹1,836.25 lakh in Q1FY26.

What the Numbers Show

A key driver of the operating profit growth was the change in inventories of finished goods and work in progress. In Q1FY27, this line item showed a credit of ₹142.08 lakh, indicating a reduction in inventory levels that lowered the cost of goods sold. In contrast, Q1FY26 saw a debit of ₹63.78 lakh due to inventory buildup. This swing of approximately ₹205.86 lakh in inventory accounting significantly boosted operating margins, partially neutralizing the impact of higher raw material costs and financial expenses, which rose to ₹86.26 lakh from ₹93.36 lakh in the prior year quarter.

Profitability Metrics

Net profit after tax rose to ₹67.76 lakh from ₹42.39 lakh. Tax expenses were recorded at ₹20.09 lakh, comprising current tax of ₹20.30 lakh and deferred tax benefit of ₹0.21 lakh. In the previous year’s quarter, total tax expense was ₹15.37 lakh.

Basic and diluted earnings per share (EPS) stood at ₹1.54, compared to ₹0.96 in Q1FY26. Total comprehensive income for the period was ₹69.05 lakh, including other comprehensive income items such as remeasurement benefits from defined benefit plans.

Corporate Actions

Alongside the financial results, the Board reappointed Mr. D A Rupawala, proprietor of D. A. Rupawala & Associates, as the Internal Auditor for FY2026-2027. The company continues to operate through its manufacturing units in Gandhinagar, Gujarat, and Greater Noida, Uttar Pradesh.