Innovative Tech Pack Limited , a company specializing in manufacturing pet containers, has made significant leadership changes and appointments at its 36th Annual General Meeting. The company has taken steps to strengthen its board and management team, positioning itself for future growth and development.

Re-appointment of Non-Executive Chairman

Ms. Nidhi Dwarakanath has been re-appointed as an Independent Director and designated as Non-Executive Chairman of the company. Her new term will run from September 30, 2025, to September 29, 2030, marking her second term in this crucial role. Ms. Dwarakanath brings valuable experience to the board, with a background in media and mass communication.

New Executive Director Appointment

In a move to bolster its executive leadership, the company has appointed Sridhar Das as an Executive Director, effective September 30, 2025. Mr. Das brings over 14 years of experience in the manufacturing of pet containers, with a focus on technical aspects, packaging design, and modern management techniques. His appointment is expected to drive innovation and efficiency in the company's operations.

Secretarial Auditor Appointment

The company has also appointed M/s Lalit Sharma & Associates as its Secretarial Auditor for a term of five consecutive financial years, from 2025-26 to 2029-30. This appointment ensures compliance with regulatory requirements and strengthens the company's corporate governance practices.

Additional Board Matters

The Annual General Meeting also saw the re-election of Mrs. Pratibha Rao Ketineni, who was retiring by rotation. Furthermore, the company has proposed to increase the overall limit of maximum remuneration payable to the Managing Director, indicating potential changes in executive compensation.

Voting Process

In compliance with regulatory requirements, Innovative Tech Pack Limited provided its members with the facility to cast votes electronically from September 27 to September 29, 2025. Members present at the Annual General Meeting who had not cast their votes electronically were given the opportunity to vote through ballot papers.

These strategic appointments and re-appointments reflect Innovative Tech Pack Limited's commitment to maintaining strong leadership and governance structures. The diverse experience of the newly appointed and re-appointed directors is expected to contribute significantly to the company's growth strategy and operational excellence in the coming years.

Innovative Tech Pack Limited , a manufacturer of plastic bottles, jars, and caps, has announced its financial results for the first quarter. The company reported a profit of ₹131.83 crore, marking a significant turnaround from the previous quarter's loss but slightly lower than the same period last year.

Financial Highlights

• Profit: ₹131.83 crore in Q1, compared to a loss of ₹329.32 crore in Q4 and a profit of ₹151.10 crore in Q1 of the previous year
• Revenue from Operations: ₹3,258.25 crore, down from ₹3,357.43 crore in Q4 and ₹3,412.10 crore in Q1 of the previous year
• Total Income: ₹3,269.69 crore, compared to ₹3,400.55 crore in the previous quarter

Key Financial Metrics

Operational Insights

The company's Board of Directors approved these unaudited standalone financial results at a recent meeting. Despite the profit, Innovative Tech Pack faces several operational challenges:

1. Pending Bonus Payments: The company has yet to pay ₹24.61 crore in bonuses from previous financial years.
2. Legal Proceedings: A case against Maharashtra Bio Fertilizers India Private Limited for ₹169 crore is ongoing in the National Company Law Tribunal (NCLT).
3. Cash Wage Payments: The company paid ₹10.75 crore in cash wages to contract workers, citing worker requests.
4. Internal Audit: No internal audit was conducted for the quarter.
5. MSME Creditor Payments: The company has not paid interest on amounts due to MSME creditors for more than 45 days, as per agreed payment terms.

Management Commentary

K. Satish Rao, Managing Director of Innovative Tech Pack Limited, stated in the financial report, "The company has shown resilience by returning to profitability this quarter. However, we acknowledge the challenges ahead and are working diligently to address operational issues and improve our financial position."

The company maintains its focus on manufacturing plastic packaging solutions and continues to operate as a single reportable segment under Indian Accounting Standard (Ind AS) 108.

Investors and stakeholders can find more detailed information on the company's website and in the financial results section of www.bseindia.com .