Virgo Polymers India Limited has reappointed Vivek Ramsisaria as Managing Director for a five-year term. The Board also fixed the date for the company's 41st Annual General Meeting.

The Board of Directors held its meeting on August 28, 2026. The session focused on administrative preparations for the upcoming AGM and key governance appointments.

AGM Details

The 41st Annual General Meeting will be held on Monday, September 28, 2026, at 11:30 am. The meeting will be conducted through Video Conferencing or Other Audio-Visual Means. The Board approved the Notice for the ensuing AGM.

Shareholders on record as of Monday, September 21, 2026, will be eligible to vote. The Register of Members will remain closed from Tuesday, September 22, 2026, to Monday, September 28, 2026.

Leadership Appointment

The Board approved the reappointment of Vivek Ramsisaria (DIN: 01942187) as Managing Director. His tenure will run from October 1, 2026, to September 30, 2031. This appointment is subject to shareholder approval at the AGM.

Ramsisaria holds an MBA in Finance. He has extensive experience in financial management and strategic planning. His relatives, Mamta Ramsisaria and Varun Ramsisaria, serve as Whole-Time Directors at the company.

Governance and Compliance

The Board took note of the Secretarial Audit Report for FY26. It was issued by N. Srividhya, the Practicing Company Secretary and Secretarial Auditor. The Board also approved the Board's Report and Management Discussion and Analysis Report for FY26.

Central Depository Services (India) Limited was appointed as the e-Voting Agency. Lakshmi Subramanian & Associates was appointed as the Scrutinizer for the voting process.

Virgo Polymers (India) Limited reported a sharp decline in standalone profitability for the quarter ended June 30, 2026, as revenue and profit metrics contracted significantly compared to the prior year. The company posted a net profit of ₹2.0 lakh, down from ₹7.5 lakh in the corresponding quarter of FY25, representing a 73% year-on-year decline.

Revenue from operations fell 47% to ₹843.1 lakh, compared to ₹1,592.3 lakh in Q1FY26. This operational slowdown was partially offset by a rise in other income, which increased to ₹386.8 lakh from ₹332.1 lakh in the previous year. Total revenue stood at ₹1,229.9 lakh, down from ₹1,924.4 lakh in Q1FY26.

Financial Performance

The company’s total expenses decreased to ₹1,227.9 lakh from ₹1,916.9 lakh in the same quarter last year. Key expense drivers included:

• Purchases of stock in trade: ₹700.7 lakh (down from ₹1,279.2 lakh)
• Employee benefit expenses: ₹280.7 lakh (up from ₹48.8 lakh)
• Raw material consumed: ₹84.0 lakh (down from ₹116.7 lakh)

Profit before tax was ₹2.0 lakh, unchanged from the pre-tax figure due to no tax expense recorded for the quarter. Earnings per share (basic and diluted) stood at ₹0.1, compared to ₹0.2 in Q1FY25.

What the Numbers Show

While operational revenue declined sharply, other income constituted 31% of total revenue in Q1FY27, up from 17% in Q1FY26. This shift highlights a growing reliance on non-operating income sources during a period of reduced core business activity. Employee benefit expenses rose nearly six-fold to ₹280.7 lakh despite the revenue drop, suggesting fixed cost pressures or one-time personnel-related outflows that did not scale with lower production volumes.

Corporate Actions

During its board meeting held on August 12, 2026, Virgo Polymers approved several administrative changes:

• Appointment of M/s. Binay Kumar & Co., Chartered Accountants, as internal auditors for FY27, replacing M/s. DTSB & Associates who resigned on July 15, 2026.
• Transfer of the company’s current bank account from State Bank of India, SME Maraimalai Nagar Branch, to SBI Anna Nagar, Chennai Branch.
• Sale of property located at C-44, SIDCO Industrial Estate, Maraimalai Nagar, Chengalpattu District, Tamil Nadu.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors, with a limited review report issued by statutory auditors Venkat & Rangaa LLP.