AGM Details

The 33rd Annual General Meeting will be held on Tuesday, September 22, 2026 at 12:00 Noon through Video Conferencing (VC)/Other Audio Visual Means (OAVM).

Key Dates

  • Record date for dividend: Tuesday, September 15, 2026
  • Cut-off date for e-voting: Tuesday, September 15, 2026
  • Remote e-voting period: September 17, 2026 (09:00 a.m.) to September 21, 2026 (05:00 p.m.)
  • E-voting service provider: MUFG Intime India Private Limited (InstaVote)
  • Scrutinizer: Mr. Arun Dash, Practicing Company Secretary (FCS No. 9765 CP No. 9309)

Ordinary Business

1. Adoption of Financial Statements: To receive, consider and adopt the Audited (Standalone and Consolidated) Financial Statements for the financial year ended March 31, 2026, including Balance Sheet, Statement of Profit & Loss, Cash Flow Statement, and Reports of Directors and Auditors.

2. Declaration of Dividend: To declare a dividend at the rate of ₹1.30 (65%) per equity share on the face value of ₹2 each for FY 2025-26, payable out of profits. If approved, dividend will be paid on or after September 23, 2026 to shareholders on record as of September 15, 2026.

3. Appointment of Director: To appoint Mr. Mangesh Sarfare (DIN: 07793543) who retires by rotation and being eligible, offers himself for reappointment as Non-Executive Director.

Special Business

4. Appointment of Independent Director: To appoint Mr. Pradip Kumar Das (DIN: 06593113) as Non-Executive, Independent Director for his first term of 5 years from August 4, 2026 to August 3, 2031. He was appointed as Additional Director effective August 4, 2026. Mr. Das is a veteran banker with 41 years of experience, currently serving as Independent Director at Time Technoplast Limited, Birla Cotsyn (India) Limited, and Ambium Finserve Limited. He holds 300 equity shares in the company.

5. Related Party Transaction with Time Technoplast Limited: Approval sought for material related party transactions with the holding company Time Technoplast Limited (which holds 74.86% stake) for purchase/sale of goods, consumables, raw materials, fixed assets, and lease of property. Proposed limits:

  • FY 2026-27: ₹425 crores
  • FY 2027-28: ₹500 crores
  • Total aggregate limit: ₹925 crores (fungible between years)

Previous transactions:

  • FY 2025-26: Purchases - ₹3,709.98 lakhs; Sales - ₹20,554.40 lakhs
  • FY 2026-27 (until recent quarter): Purchases - ₹1,531.42 lakhs; Sales - ₹7,459.14 lakhs

6. Related Party Transaction with Avion Exim Private Limited: Approval sought for material related party transactions with Avion Exim Private Limited (under common control) for purchase and sale of goods, components, parts & accessories. Proposed limits:

  • FY 2026-27: ₹110 crores
  • FY 2027-28: ₹150 crores
  • Total aggregate limit: ₹260 crores (fungible between years)

Previous transactions:

  • FY 2025-26: Purchases - ₹6,619.42 lakhs; Sales - ₹37.69 lakhs
  • FY 2026-27 (until recent quarter): Purchases - ₹2,203.83 lakhs; Sales - ₹0.85 lakhs

Financial Information of Related Parties

Time Technoplast Limited (as of March 31, 2026):

  • Turnover: ₹2,88,041.50 lakhs
  • Profit After Tax: ₹21,806.90 lakhs
  • Net Worth: ₹2,84,087.13 lakhs

Avion Exim Private Limited (as of March 31, 2026):

  • Turnover: ₹16,130.98 lakhs
  • Profit After Tax: ₹278.52 lakhs
  • Net Worth: ₹3,806.83 lakhs

Business Context

The company's growth strategy is anchored in the Industrial Packaging segment, operating a manufacturing facility at Dahej, Gujarat producing Intermediate Bulk Containers (IBCs) for chemicals, pharmaceuticals, FMCG, specialty chemicals, and food products industries. The related party transactions support capacity utilization and supply chain optimization.

Additional Information

  • The company's Registrar and Transfer Agent is MUFG Intime India Private Limited
  • Dividend will be paid only through electronic mode as mandated by SEBI
  • Unclaimed dividends for 7 consecutive years are transferred to Investor Education and Protection Fund (IEPF)
  • Shareholders must be KYC compliant to receive dividends
  • The notice includes detailed instructions for e-voting and attendance through InstaMeet platform