Jauss Polymers Limited, a company listed on the BSE and Calcutta Stock Exchange, has announced significant corporate governance changes following its 38th Annual General Meeting (AGM) held on September 30, 2025.

Key Developments

Reappointment of Independent Chairman

Mr. Shewale Saurabh Jibhau has been reappointed as the Non-Executive Chairman and Independent Director of Jauss Polymers Limited. This marks his second term in the position, which will run from September 30, 2025, to September 29, 2030.

Mr. Jibhau brings valuable expertise to the board:

• He is a Mechanical Engineer with experience in digital and mechanical engineering works.
• His specialization lies in the Digital Manufacturing Domain and smart technology.
• The company confirmed that Mr. Jibhau is not related to any other director on the board.
• Importantly, he is not debarred from holding directorial positions by any regulatory authority.

New Secretarial Auditor Appointed

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.

Key details about the new auditor:

• The firm is led by Mr. Lalit Sharma, a Company Secretary.
• Membership No.: 75311
• Certificate of Practice (COP) No.: 27781
• Peer Review No.: 6664/2025
• The firm specializes in Audit, Management, Consultancy & Compliances.

Corporate Governance Compliance

These appointments were made in compliance with the Securities and Exchange Board of India (SEBI) regulations, specifically:

• Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
• SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024

The AGM, which began at 9:30 AM and concluded at 10:00 AM, also saw the adoption of audited Financial Statements for the year ended March 31, 2025, and the re-election of Mr. Ketineni Sayaji Rao, who retired by rotation.

These appointments and reappointments reflect Jauss Polymers' commitment to maintaining strong corporate governance practices and ensuring experienced leadership at the helm of the company's affairs.

Jauss Polymers Limited, a manufacturer of plastic bottles, jars, and caps, has reported a profit of ₹32.35 lakh for the quarter ended June 30, despite having no revenue from operations. The company's financial results, approved by its Board of Directors on August 14, reveal a unique situation that has raised concerns about its future operations.

Profit from Subsidiary Sale

The company's profit was entirely driven by other income of ₹39.44 lakh, which came from the sale of its subsidiary, Innovative Containers Pvt Ltd. Jauss Polymers had previously invested ₹355.00 lakh in this subsidiary and sold it for a total consideration of ₹394.44 lakh during the quarter. This sale was conducted as per board resolution and approved by shareholders in an EGM, based on valuation reports as per norms.

Financial Highlights

Auditor's Concerns

The company's auditor, Mahesh Yadav & Co., has issued an adverse conclusion in their review report, raising significant doubts about Jauss Polymers' ability to continue as a going concern. The auditors cited several reasons for their concerns:

1. Zero turnover for the financial year
2. Significant losses in previous financial years
3. Sale of plant and machinery in FY 2020-21
4. Lack of management assessment for future operations
5. Missing bank statements for multiple accounts
6. Unconfirmed fixed deposit documents worth ₹2.00 lakh
7. No internal audit conducted during the quarter

Other Notable Points

• The company's paid-up equity share capital stands at ₹462.56 lakh (face value ₹10 per share).
• Jauss Polymers has written off fixed assets with a Written Down Value (WDV) of ₹9.88 lakh during the year ending March 31, 2024, due to their non-existence as confirmed by management.
• The company's financial statements are prepared on a going concern basis, despite the auditor's reservations.

Management Response

The company's management has not yet performed an assessment of its ability to continue as a going concern, despite requests from the auditors. No plans for future actions or cash flow forecasts have been provided to address the ongoing concerns.

As Jauss Polymers navigates through these challenging times, investors and stakeholders will be closely watching the company's next steps and its ability to address the auditor's concerns about its operational viability.