APT Packaging , a manufacturer of co-extruded tubes, has announced the appointment of three new independent directors and reported a turnaround in its financial performance for the fiscal year 2024-25.

Board Appointments

The company's Board of Directors has approved the appointment of three new independent directors for five-year terms, subject to shareholder approval:

1. CA Soham Kotak: A chartered accountant practicing since 2018, specializing in taxation, forensic audit, and statutory audits. Kotak will serve as a Woman Director to comply with statutory requirements for gender diversity.

2. Adv. Sidhant Somani: A practicing advocate with expertise in legal drafting, contract vetting, and corporate disputes.

3. Mr. Vikas Tapdiya: Details about Tapdiya's background were not provided in the available information.

These appointments are set to commence from September 30, 2025, and continue until September 29, 2030. The new directors are expected to strengthen the Board's diversity in terms of gender, experience, and legal expertise.

Financial Performance

For the financial year ended March 31, 2025, APT Packaging reported:

All figures in lakhs, except EPS

The company attributed the turnaround to enhanced operational efficiency, improved market sentiment, and effective cost optimization strategies implemented by the management.

Other Developments

• Preferential Allotment: The company completed a preferential allotment of 65.50 lakh shares at a premium of ₹20 each, raising funds for working capital, expansion, and modernization.
• Positive Net Worth: Subsequent to the year-end, on May 8, 2025, the company made a preferential allotment of equity shares for a total consideration of ₹1,965.00 lakhs (including share premium), resulting in a positive net worth.

Outlook

Despite the improved financial performance, APT Packaging faces challenges including limited financial resources for technological upgrades and intense competition. The company remains committed to enhancing profitability through cost reduction and operational efficiency improvements.

The appointment of new independent directors and the recent capital infusion are expected to support the company's growth strategies and strengthen its market position in the co-extruded tubes segment.

Investors and stakeholders will be watching closely to see how these new appointments and financial improvements translate into long-term value creation for the company.

APT Packaging , a manufacturer of co-extruded tubes, has announced its unaudited financial results for the quarter ended June 30, 2025, along with significant board-level changes and a successful preferential share allotment.

Financial Performance

For the quarter ended June 30, 2025, APT Packaging reported:

The company's performance shows a modest profit despite challenging market conditions.

Board Appointments

The board of directors has approved two key appointments:

1. Mr. Suyog Machhar has been appointed as an Additional Director under the promoter category.
2. Mr. Vikas Tapdiya has been appointed as an Additional Director under the independent category.

Both appointments are subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Preferential Share Allotment

APT Packaging has successfully completed a preferential allotment of 5,50,000 equity shares at Rs. 30.00 per share (face value of Rs. 10.00 and premium of Rs. 20.00). This move has raised Rs. 16.50 crores for the company, strengthening its capital base.

Auditor's Observations

The limited review report by the company's auditors, Gautam N Associates, highlighted several points:

1. An unprovided GST liability of Rs. 20.70 lakhs for the financial year 2019-20, against which the company has filed an appeal.
2. Unprovided doubtful debts amounting to Rs. 11.45 lakhs.
3. Concerns regarding the inventory valuation methodology, which is currently based on physical verification at quarter-end rather than a system-driven approach.
4. Non-provision of interest on unsecured loans from related and unrelated parties for the quarter, due to interest waivers received from lenders.

Management's Response

The company's management has addressed these observations, stating that:

• An appeal has been filed against the GST demand with a deposit of Rs. 0.99 lakhs.
• Efforts are underway to recover the doubtful debts.
• The implementation of a system-based inventory valuation process is in progress.
• Interest waiver confirmations have been obtained from the concerned parties.

APT Packaging continues to navigate through operational challenges while focusing on strengthening its governance and financial position. Investors and stakeholders will be keenly watching how these recent developments impact the company's future performance and growth trajectory.