Styrenix Performance Materials Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment of its Whole-time Director. The company dispatched the postal ballot notice on March 12, 2026, through electronic mode only to all eligible shareholders.

Postal Ballot Resolution Details

The postal ballot seeks approval for a special resolution regarding the re-appointment of Mr. Ravishankar Balakoteswararao Kompalli (DIN: 06458292) as Whole-time Director. The proposed re-appointment covers a period of 2 years, effective from April 01, 2026 up to March 31, 2028.

E-voting Schedule and Process

The company has arranged for voting through electronic mode only, in accordance with MCA circulars. The e-voting facility is provided by National Securities Depository Limited (NSDL), with CS Mr. Devesh A. Pathak (FCS 4559) appointed as the scrutinizer for conducting the postal ballot process.

Director Profile and Remuneration

Mr. Ravishankar B. Kompalli brings extensive experience of over 48 years in manufacturing styrenic polymers including ABS, SAN, PS and Styrene Acrylics. He graduated in Chemical engineering from Andhra University in 1977 and has worked with companies including UB group, Bayer ABS Ltd, Sumitomo (Indonesia), INEOS Styrolution and Shiva Performance Materials Ltd. He also holds a safety management diploma from Central Labour Institute, Mumbai.

Company Financial Performance

The company reported strong financial performance for FY 2024-25, demonstrating its operational strength in the engineering polymers sector.

Shareholder Participation

Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date of March 6, 2026, are eligible to participate in the e-voting process. The company has made arrangements for shareholders to register their email addresses if not already registered with the company or depositories. The postal ballot notice is available on the company's website at www.styrenix.com and on stock exchange websites.

Styrenix Performance Materials Limited reported mixed financial results for Q3 FY26, with revenue declining year-on-year despite strong volume growth and improved operational efficiency. The company held its earnings call on February 02, 2026, to discuss the quarterly performance and business outlook.

Standalone Financial Performance

The company's standalone operations showed resilience in challenging market conditions. Total income for Q3 FY26 declined to INR648.8 crores compared to INR692.2 crores in Q3 FY25, representing a 6.2% year-on-year decrease.

Despite the revenue decline, EBITDA remained nearly flat at INR75.7 crores versus INR75.4 crores, showing marginal growth of 0.4%. More significantly, EBITDA margins improved to 11.7% from 10.9%, an increase of 80 basis points, demonstrating enhanced operational efficiency.

Volume Growth Amid Market Challenges

The company achieved notable volume growth with sales reaching 51.1 KT in Q3 FY26 compared to 47.5 KT in the previous year, marking a 7.6% increase. This volume expansion occurred despite challenging market conditions and pricing pressures in the styrenic polymers segment.

Profit after tax declined to INR44.3 crores from INR47.7 crores, a decrease of 7.51%, while PAT margins compressed marginally to 6.8% from 6.9%.

Nine-Month Performance Overview

For the nine-month period ending December 2025, standalone performance reflected similar trends with total income at INR1,988 crores versus INR2,052 crores in the corresponding previous period.

Thailand Operations Face Headwinds

The company's Thailand subsidiary encountered operational challenges during the quarter. Management explained that inventory built up during the first half of the year faced valuation losses due to significant price declines in both raw materials and finished goods.

Consolidated results for Q3 FY26 showed total income of INR871.3 crores with EBITDA of INR943.5 crores and margins of 5.0%. The Thailand operations are transitioning to the company's Absolac and Absolan brands for ABS and SAN products respectively, requiring customer validations and market development.

Expansion Plans and Market Outlook

Management confirmed that the Phase 1 expansion of ABS capacity remains on track for the second half of FY27. The company is progressing with equipment ordering and construction activities for the 50,000 ton capacity addition. Additionally, a power cost reduction agreement is expected to become effective in February or March 2026, providing operational benefits in coming quarters.

The polystyrene segment showed recovery in Q3 after muted performance in the first half, with the company operating HIPS capacity at nearly 100% utilization. Management noted strong seasonal demand patterns supporting current quarter performance.