Tamilnadu Petroproducts Limited has issued a postal ballot notice on March 13, 2026, seeking shareholder approval for critical corporate governance matters under Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has proposed two ordinary resolutions requiring member consent through electronic voting.

Director Appointment Proposal

The first resolution seeks approval for the appointment of Ms. Sandhya Venugopal Sharma, IAS (DIN: 08445015) as Director of the Company. Ms. Sharma was initially appointed as Additional Director by the Board on January 14, 2026, following a nomination from TIDCO, one of the company's promoters.

Ms. Sharma brings extensive administrative experience as a 1995 batch Indian Administrative Service officer of the Tamil Nadu cadre. She currently serves as Chairperson of TIDCO and has held senior leadership roles at both State and Central Government levels, including central deputation with the Department of Space as Joint Secretary and Additional Secretary in Bengaluru from 2019-2025.

Material Related Party Transaction

The second resolution addresses prior approval for material related party transactions between the company and Greenstar Fertilizers Limited for the financial year 2026-27.

The transactions primarily involve the sale of Linear Alkyl Benzene (LAB) and purchase/sale of services including manpower and other services. While the companies are not related parties under the Companies Act, 2013, the approval is sought considering common directorship and the material value of transactions.

E-Voting Process and Timeline

The company has established a comprehensive e-voting framework to facilitate shareholder participation in the postal ballot process.

Regulatory Compliance and Communication

Pursuant to Regulation 47(1)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published newspaper advertisements in Financial Express (English) and Makkal Kural (Tamil) on March 13, 2026. The notice has been sent electronically to members who have registered their email addresses with the company or depositories.

The voting facility is provided through Central Depository Services (India) Limited (CDSL), enabling secure electronic participation. In accordance with the relaxation granted by the Ministry of Corporate Affairs vide Circular 03/2025 dated September 22, 2025, the notice has been sent only in electronic mode.

Corporate Governance Framework

The postal ballot process demonstrates the company's commitment to regulatory compliance and shareholder engagement. The appointment of Ms. Sharma aligns with the promoters' agreement between SPIC and TIDCO, which grants both parties the right to nominate three directors each on the company's Board.

For the related party transactions, the Audit Committee and Board of Directors approved the proposals at their respective meetings held on March 10, 2026. The transactions are structured to be executed on an arm's length basis and in the ordinary course of business, with pricing based on formulas consistent with other contract volume customers.

Shareholders seeking clarification may contact the Company Secretary at the registered office or through the designated email address secy-legal@tnpetro.com . The results will be announced and communicated to stock exchanges as required under relevant regulations, ensuring transparency in the decision-making process.

Tamilnadu Petroproducts Limited has successfully completed its LAB plant expansion project and commenced commercial operations on March 11, 2026, marking a significant milestone in the company's expansion strategy. This achievement follows the company's earlier communications in December 2025 and represents the successful execution of one of its major capital expenditure initiatives.

LAB Plant Expansion Completion

The company has successfully completed the expansion of its LAB (Linear Alkyl Benzene) plant, which was originally budgeted at ₹310 crore and later revised to ₹365 crore due to escalation factors including foreign exchange fluctuations and other incidental costs. The plant commenced commercial operations on March 11, 2026, adding to the company's production capacity.

Regulatory Compliance

The completion announcement was made through a formal disclosure to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was addressed to both BSE Limited (Scrip Code: 500777) and National Stock Exchange of India Limited (Symbol: TNPETRO), ensuring full regulatory compliance.

Ongoing Expansion Projects

While the LAB plant expansion has been completed, the company continues to progress with its other expansion initiatives. The HCD plant expansion project, revised from ₹214 crore to ₹237 crore, remains under development alongside the approved downstream units.

Strategic Impact

The completion of the LAB plant expansion strengthens Tamilnadu Petroproducts Limited's position in the petrochemicals sector. The enhanced production capacity is expected to contribute to the company's revenue growth and operational efficiency. The successful execution of this project demonstrates the company's ability to manage large-scale capital expenditure projects despite market challenges.

Future Outlook

With the LAB plant expansion now operational, the company's focus shifts to completing its remaining expansion projects. The HCD plant expansion and the two approved downstream units represent a combined investment of ₹327 crore, which are expected to be completed within the planned timelines through internal accruals and borrowings.