Sirca Paints held a successful Extraordinary General Meeting (EGM) on August 5, 2025, where shareholders gave their resounding approval for the issuance of 20,11,000 equity shares on a preferential basis to certain identified non-promoter persons.

Key Highlights of the EGM

• Strong Shareholder Participation: The EGM, conducted via video conferencing, saw the attendance of 70 shareholders, representing 3,91,66,848 shares or 80.04% of the company's capital.
• Overwhelming Support: The special resolution received near-unanimous backing, with 99.99% of votes cast in favor and only 0.01% against.
• Voting Process: The company employed both remote e-voting (from August 2-4, 2025) and e-voting during the meeting to ensure comprehensive shareholder participation.
• Independent Scrutiny: Pravesh Kumar & Associates served as the scrutinizer for the voting process, confirming the passage of the special resolution with the requisite majority.

Breakdown of Shareholder Participation

Voting Results

The special resolution for the issuance of equity shares received strong support across all shareholder categories:

Sirca Paints India Limited's management expressed satisfaction with the outcome, viewing it as a strong vote of confidence from shareholders. The approval for issuing 20.11 lakh equity shares on a preferential basis to non-promoter persons is expected to strengthen the company's capital base and support its growth initiatives.

The EGM, which commenced at 11:30 A.M. and concluded at 11:58 A.M. IST, was conducted in compliance with the applicable provisions of the Companies Act, 2013, and the latest circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.

Sirca Paints has demonstrated a remarkable financial performance in the first quarter, showcasing robust growth across key metrics. The company's strategic initiatives and operational efficiency have translated into significant improvements in both top-line and bottom-line results.

Revenue Soars

Sirca Paints India reported a substantial increase in revenue, which grew to Rs 11.40 billion in Q1, up from Rs 7.86 billion in the same period last year. This impressive 45% year-over-year growth underscores the company's strong market position and effective sales strategies.

Profit Margins Expand

The company's profitability saw a notable uptick, with net profit rising to Rs 1.40 billion, compared to Rs 1.02 billion in the previous year's corresponding quarter. This 37% increase in net profit reflects Sirca Paints' ability to effectively manage costs while driving revenue growth.

Operational Efficiency Improves

Sirca Paints India's operational performance showed significant improvement:

• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased to Rs 2.25 billion from Rs 1.41 billion year-over-year.
• The EBITDA margin expanded to 19.74% from 17.89% in the same quarter last year, indicating enhanced operational efficiency alongside revenue growth.

Financial Highlights

The robust Q1 performance of Sirca Paints India demonstrates the company's resilience and ability to capitalize on market opportunities. The significant growth in revenue, coupled with improved profitability and operational efficiency, positions the company well for continued success in the paint industry.