Polymechplast Machines , a prominent player in the plastic processing industry, and Polychem Limited have announced significant changes to their leadership teams. Both companies' shareholders approved these appointments at their respective Annual General Meetings (AGMs).

Polymechplast Machines Leadership Changes

Executive Chairman Appointment

Mahendrakumar Ravjibhai Bhuva, a veteran in the plastic manufacturing industry, has been appointed as the Executive Chairman of Polymechplast Machines for a three-year term. This appointment marks a transition for Bhuva, who has been associated with the company since 1998 and previously served as the Managing Director.

New Managing Director

Simultaneously, Himmatlal Parshottambhai Bhuva has been appointed as the Managing Director of the company for the same three-year period. Himmatlal Bhuva brings over 35 years of extensive expertise in plastic processing injection and blow moulding machines. His appointment was recommended by the Nomination and Remuneration Committee and approved by the Board of Directors.

Leadership Experience and Shareholding

Mahendrakumar Bhuva's appointment as Executive Chairman comes with a wealth of experience. He has played a pivotal role in steering the strategic direction and growth of the company, maintaining robust performance even during challenging market conditions. Bhuva holds 648,742 equity shares in the company, demonstrating his significant stake in Polymechplast Machines' success.

Himmatlal Bhuva, the new Managing Director, has been associated with the company since 1998 and previously served as Whole-Time Director. He holds 377,650 equity shares in the company and has no relationships with other directors.

Polychem Limited Appointment

Polychem Limited has appointed Mr. Anand Mahendrabhai Bhuva as an Executive Director for a three-year term from August 7, 2025 to August 6, 2028. The appointment was approved by shareholders at the 38th Annual General Meeting held on September 25, 2025.

Background of Anand Mahendrabhai Bhuva

Mr. Bhuva holds a Bachelor's degree in Business Administration from Maharaja Sayajirao University of Baroda and has advanced certifications in Supply Chain Management and International Business Management from Canada. He brings over 3.5 years of experience in the plastic manufacturing industry, specializing in production and process management of injection moulding machines, and has recently entered the aluminum die-casting segment.

Mr. Bhuva is the son of Mr. Mahendrakumar Bhuva, the Chairman of Polychem Limited, and holds 590,940 shares representing 10.55% shareholding in the company.

Corporate Governance and Compliance

Both companies have affirmed that the newly appointed directors are not debarred from holding office by any order of SEBI or any other authority. Polymechplast Machines also approved the appointment of M/s. Devesh Pathak & Associates as Secretarial Auditors for a five-year term.

These leadership changes and appointments reflect both companies' commitment to strong corporate governance and strategic growth in the plastic processing industry. The new leadership teams are poised to guide their respective companies through their next phase of development and market challenges.

Polymechplast Machines Director and Promoter Anand Mahendrabhai Bhuva has significantly increased his stake in the company through an inter-se transfer of shares from an immediate family member.

Key Details of the Transaction

• Acquisition: Anand Bhuva acquired 4,41,653 equity shares, representing a 7.88% stake in the company.
• Transferor: The shares were transferred from Mrs. Hansaben Mahendrabhai Bhuva, Anand Bhuva's mother.
• Mode of Transfer: The transaction was conducted as an off-market transfer by way of gift.
• Date of Transfer: The share transfer was completed on August 25.

Impact on Shareholding

The inter-se transfer has resulted in a significant change in the shareholding pattern of the promoter group:

Regulatory Compliance

The transaction was executed in compliance with SEBI regulations:

1. It falls under the exemption provided in Regulation 10(1)(a)(i) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which allows for inter-se transfers among immediate relatives.
2. The company has made necessary disclosures to the stock exchanges as per Regulation 29(2) of SEBI (SAST) Regulations and Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015.
3. A fee of Rs. 1,77,000 (including GST) was paid to SEBI for the regulatory filings.

About the Transaction

The share transfer was described as a private family arrangement, conducted without any monetary consideration. As per the regulatory filings, this inter-se transfer did not trigger an open offer requirement under SEBI exemption regulations.

Polymechplast Machines has a total of 56,01,710 equity shares of Rs. 10 each, amounting to a total share capital of Rs. 5,60,17,100.