Joint Venture Formation

The Board of Directors approved the formation of a Joint Venture Company (JV Company) with Identified Partners for exploring business opportunities in relation to manufacturing, processing, coating, converting and marketing of paper, specialty paper and allied paper-based products and materials.

The JV Company is proposed to be named "True Colors Advance Materials Private Limited" (subject to name availability and trademark clearance) and will be established in India. The Company will hold 50.00% shares in the JV Company at a subscription price of ₹10.00 per share. The transaction does not fall within related party transactions, and promoter/promoter group/group companies have no interest in the entity.

The JV is aimed at leveraging complementary strengths of both parties to pursue mutually beneficial business opportunities. The Joint Venture Company is proposed to be incorporated within 60 days, subject to necessary statutory, governmental, or regulatory approvals.

Auditor Appointments

Internal Auditor: The Board re-appointed M/s. Dali Shah & Associates, Chartered Accountants (FRN: 158874W) as Internal Auditor for the financial year 2026-27 pursuant to Section 138 of the Companies Act, 2013.

Cost Auditor: The Board re-appointed M/s. B H Kevadiya & Co., Cost Accountants (FRN: 003946W) as Cost Auditor for the financial year 2026-27 pursuant to Section 148 of the Companies Act, 2013.

Secretarial Auditor: The Board appointed M/s. ALAP & Co. LLP, Practicing Company Secretaries (FRN: 12023GJ013900) as Secretarial Auditor for a term of five years from Financial Year 2026-27 to 2030-31 pursuant to Section 204 of the Companies Act, 2013. This appointment is subject to shareholder approval at the ensuing Annual General Meeting.

Meeting Details

The Board Meeting was held on August 17, 2026, at the company's registered office in Surat, Gujarat, commencing at 05:00 PM and concluding at 06:40 PM.

All disclosures were made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.