Meeting Details

The 38th Annual General Meeting of Mitsu Chem Plast Limited was held on Friday, July 31, 2026 through Video Conferencing/Other Audio-Visual Means. The meeting commenced at 3:30 PM IST and concluded at 4:20 PM IST. Total 44 members attended the AGM as per attendance records.

Key Participants

  • Mr. Jagdish Dedhia, Chairman of the Company, chaired the proceedings
  • All directors attended through VC, including chairs of Audit Committee, Stakeholders' Relationship Committee, and Nomination and Remuneration Committee
  • Secretarial Auditor and Statutory Auditors attended through VC
  • Ms. Gargi Sawant, Company Secretary, served as Compliance Officer

Auditor Reports

The Chairman mentioned there were no qualifications, observations or other remarks made by the Auditors in their Report on the Financial Statements. The Secretarial Audit Report for the financial year ended March 31, 2026 did not contain any qualification, reservation or disclaimer and did not need any further explanation.

Management Presentations

  • Mr. Jagdish Dedhia briefed members on Company's performance and notable developments
  • Mr. Sanjay Dedhia, Executive Vice Chairman and Managing Director, presented business insights
  • Mr. Manish Dedhia, Managing Director & CFO, briefed on financial performance

Voting Arrangements

The Company engaged Bigshare Services Private Limited to provide remote e-Voting facility from Tuesday, July 28, 2026 (9:00 AM IST) to Thursday, July 30, 2026 (5:00 PM IST) and e-voting during the AGM. Voting rights were reckoned based on shares held as on cutoff date of July 24, 2026. Ms. Shreya Shah, Practicing Company Secretary (Membership No. ACS 39409 and CoP No. 15859) was appointed to scrutinize the voting process.

Shareholder Interaction

Four shareholders registered to speak at the meeting. Attempts were made to connect to 3 shareholders who did not attend, and the 4th shareholder experienced technical issues and could not speak.

Resolutions Approved

The following 12 items of business were considered and approved:

1. Adoption of Financial Statements for financial year ended March 31, 2026 and Reports thereon

2. Declaration of Dividend of ₹0.20 per Equity Share of ₹10 each

3. Re-appointment of Mr. Jagdish Liladhar Dedhia (DIN: 01639945) who retires by rotation

4. Appointment of Mr. Ajit Eledath Venugopalan (DIN: 09439069) as Independent Director

5. Re-appointment of Mr. Hasmukh Bhavanji Dedhia (DIN: 07510925) as Independent Director

6. Appointment of Mr. Pankaj Janardan Gharat (DIN: 11810105) as Executive Director (Non-Independent)

7. Change in designation of Mr. Jagdish Liladhar Dedhia from Chairman & Whole Time Director to Non-Executive (Non-Independent) Chairman and approval of remuneration

8. Payment of remuneration to Mr. Jagdish Liladhar Dedhia as Non-Executive Chairman for FY 2027-28

9. Change in designation of Mr. Sanjay Mavji Dedhia (DIN: 01552883) from Managing Director to Executive Vice-Chairman and Managing Director with increased remuneration

10. Variation in term of appointment of Mr. Manish Mavji Dedhia (DIN: 01552841) as Managing Director & CFO and approval of remuneration

11. Increase in borrowing limits under Section 180(1)(c) of Companies Act, 2013 from ₹200 crores to ₹500 crores

12. Creation of security on company assets under Section 180(1)(a) of Companies Act, 2013 up to ₹500 crores

Results Disclosure

The Chairman informed that consolidated e-voting results will be disseminated on the Company's website and to BSE Limited within two working days of the meeting conclusion. The e-voting facility remained open for 15 minutes after the meeting for members who had not voted through remote e-voting.