Meeting Details

  • Date: Thursday, September 24, 2026
  • Time: Commenced at 3:00 p.m. (IST) and concluded at 4:00 p.m. (IST)
  • Location/Type: Held through Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • Legal Basis: The virtual meeting was conducted pursuant to circulars issued by the Ministry of Corporate Affairs (MCA), including General Circular No. 14/2020 and the latest General Circular No. 03/2025 dated September 22, 2025, and SEBI circulars including the latest one dated October 03, 2024. It was held in compliance with the Companies Act, 2013 and SEBI LODR Regulations, 2015.

Attendees

  • Chairman: Mr. Pradeep Thakur, Chairman & Independent Director
  • Directors & KMPs in Attendance: Mr. Vijay Palkar (Managing Director & CEO), Mr. Rahul Palkar (Joint Managing Director), Mrs. Bharati Palkar (Whole Time Director), Mr. Avinash Aphale (Independent Director), Mrs. Suniti Thombre (Chief Financial Officer), Ms. Tripti Sawant (Company Secretary), Mr. Ajay Marathe (Independent Director), Mr. Jayaprakash Shetty (Whole Time Director), Mr. Adhikrao Shingade (Whole Time Director), Mr. Rahul Chitnis (Additional (Independent) Director), Mr. Dhawal Vora (Non-Executive Director), and Ms. Tejaswini Dalvi (Non–Executive Director).
  • Scrutinizer: Mr. Vijay Yadav, Partner of M/s. AVS & Associates, Practicing Company Secretaries and Secretarial Auditor of the Company.
  • Shareholders: 36 Shareholders attended the meeting through VC.
  • Statutory Auditors: Were granted an exemption from attending under Section 146 of the Companies Act, 2013.

Proceedings and Management Address

Mr. Pradeep Thakur chaired the meeting. Ms. Tripti Sawant, Company Secretary, explained the procedural and technical aspects to shareholders and confirmed the notice of the AGM and audited reports were taken as read. The Register of Directors & KMPs and Register of Contracts were made available for electronic inspection.

Mr. Vijay Palkar, Managing Director and CEO, delivered a speech reflecting on a year of resilience and growth. He highlighted achieving consolidated revenues of ₹1159.66 Crore despite global challenges. Strategic milestones included the launch of "Morpholine and Derivatives" at the Dhule plant. The company emphasized environmental, health, safety standards, and green technologies.

Mr. Pradeep Thakur also addressed the meeting, providing financial highlights:

  • Consolidated Financials for FY 2025-26: Revenue of ₹1,159.66 crore (Previous year: ₹1,078.68 crore), Profit Before Tax of ₹106.11 crore (Previous year: ₹76.95 crore), Profit After Tax of ₹79.33 crore (Previous year: ₹55.90 crore).
  • Standalone Financials: Revenue growth of 5.81%, EBITDA margin of 13.13%, PAT margin of 7.05%.

He announced the recommendation of a 10% final dividend and outlined future priorities including sustainable growth, product innovation, and R&D.

Proposed Resolutions

The following items of business, as set out in the notice, were presented for shareholder consideration and approval:

Ordinary Business

1. Consideration and Adoption of Standalone and Consolidated Audited Financial Statements for the year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors. (Ordinary Resolution)

2. Declaration of a Final Dividend of 10% i.e. Rs. 0.50 per equity share on face value of Rs. 5/- each for the Financial Year ended March 31, 2026. (Ordinary Resolution)

3. Re-appointment of Mr. Saji Jose (DIN: 10650311), who retires by rotation. (Ordinary Resolution)

4. Re-appointment of Ms. Tejaswini Dalvi (DIN: 11127538), who retires by rotation. (Ordinary Resolution)

Special Business

5. Approval for Ratification of remuneration of Cost Auditor of the Company for the financial year 2026-27. (Ordinary Resolution)

6. To appoint Mr. Rahul Chitnis (DIN: 06634770) as an Independent Director of the Company for a period of 1 (One) year. (Ordinary Resolution)

Voting Process and Scrutinizer

  • The voting was conducted via remote e-voting on the NSDL platform.
  • Mr. Vijay Yadav, Practicing Company Secretary, was appointed as the Scrutinizer to scrutinize the votes cast through remote e-voting and electronic voting at the AGM.
  • Members were informed that e-voting would remain open for another 15 minutes during the meeting.
  • The results of the e-voting along with the Consolidated Scrutinizer's Report were to be announced within two working days post the AGM and intimated to the Stock Exchanges and uploaded on the company's and NSDL's website.

Compliance and Sign-off

The proceedings confirm compliance with the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure is signed by Ms. Tripti Sawant, Company Secretary & Compliance Officer (Membership No – A39926).