Polylink Polymers Approves Q1 Results, Makes Key Appointments in Board Meeting
Polylink Polymers (India) Limited approved Q1 financial results, showing improved profit after tax despite decreased revenue. The company appointed Ms. Priyal Dangi as Company Secretary and Compliance Officer, re-appointed Mrs. Jyoti Shastri as Independent Director for a second term, and named Mr. Ashish Shah as Secretarial Auditor. The 32nd Annual General Meeting is scheduled for September 26. The board also approved revised policies and decided to keep books of accounts at the Corporate Office in Ahmedabad.
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Polylink Polymers (India) Limited, a manufacturer of polymeric compounds, has announced several important decisions following its board meeting held on August 8. The company approved its unaudited financial results for the quarter ended June 30 and made significant appointments to strengthen its corporate governance.
Financial Performance
The board of directors approved the unaudited financial results for Q1. Here's a snapshot of the company's performance:
| Particulars | Q1 (₹ in crore) | Q1 (₹ in crore) |
|---|---|---|
| Revenue from Operations | 15.04 | 18.15 |
| Other Income | 0.89 | 0.77 |
| Total Income | 15.93 | 18.92 |
| Profit Before Tax | 1.01 | 1.02 |
| Profit After Tax | 0.31 | 0.25 |
| Earnings Per Share (₹) | 0.08 | 0.40 |
Despite a slight decrease in revenue, Polylink Polymers managed to improve its profit after tax compared to the same quarter last year.
Key Appointments and Re-appointments
New Company Secretary: Ms. Priyal Dangi, an Associate member of the Institute of Company Secretaries of India (Membership No: A76462), has been appointed as the Company Secretary and Compliance Officer, effective August 8.
Re-appointment of Independent Director: The board approved the re-appointment of Mrs. Jyoti Shastri (DIN: 06387317) as an Independent Director for a second term of five consecutive years, starting March 10, subject to shareholder approval at the upcoming Annual General Meeting.
Secretarial Auditor: Mr. Ashish Shah, proprietor of M/s. A G Shah & Associates, Practicing Company Secretaries (COP No: 10642 and M.NO: A29017), has been appointed as the Secretarial Auditor for a term of five consecutive financial years, subject to shareholder approval.
Other Key Decisions
- The 32nd Annual General Meeting is scheduled for September 26, at 11:30 AM through video conference or other audio-visual means.
- The board approved revised policies for materiality determination and prevention of sexual harassment.
- The company's books of accounts and other relevant documents will now be kept at the Corporate Office in Ahmedabad, as per Section 128(1) of the Companies Act, 2013.
Polylink Polymers continues to operate in the single business segment of manufacturing polymeric compounds. These decisions reflect the company's commitment to maintaining strong corporate governance and adapting to regulatory requirements.
The board meeting, which commenced at 11:20 AM, concluded at 11:38 AM on August 8.
Historical Stock Returns for Polylink Polymers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.63% | -8.23% | +0.92% | -22.72% | -38.07% | +121.32% |
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