AGM Details

  • Meeting Date: Friday, 25th September 2026 at 5:00 PM IST
  • Mode: Video Conferencing/Other Audio Visual Means
  • Record Date: Register of Members & Share Transfer Books closed from 18th September 2026 to 25th September 2026
  • E-voting Period: 22nd September 2026 (9:00 AM) to 24th September 2026 (5:00 PM)
  • Scrutinizer: M/s. KRA & Associates, Practicing Company Secretaries

Resolutions for Shareholder Approval

Ordinary Business

1. Adoption of Financial Statements: Receipt, consideration and adoption of Audited Financial Statements for FY ended 31st March 2026 with Auditor's Report and Board's Report.

2. Director Re-appointment: Re-appointment of Mr. K R Anandan (DIN: 00314502) who retires by rotation.

Special Business

3. Cost Auditor Appointment: Appointment of B Y & Associates, Cost Accountants, Chennai as Cost Auditor for FY 2026-27 at remuneration of ₹1,00,000 per annum plus applicable taxes.

4. Managerial Remuneration Increase: Special Resolution for increase in managerial remuneration payable to Mr. E Rajeshkumar, Whole-Time Director with effect from 1st August 2026:

  • Basic Salary, Allowances and Perquisites: ₹55,58,089 per annum
  • Performance pay: ₹11,25,000 per annum
  • Contribution to Provident Fund, NPS and gratuity: ₹8,16,911 per annum
  • Reimbursement of actual entertainment and travelling expenses
  • Minimum remuneration payable in case of inadequacy or absence of profits

5. Special Incentive Payment: Special Resolution for payment of special incentive of ₹12 lakh to Mr. E Rajeshkumar for Financial Year 2025-26.

6. Related Party Transaction - Greenstar Fertilizers: Ordinary Resolution for material related party transactions with Greenstar Fertilizers Limited for period from 53rd AGM to 54th AGM in 2027:

  • Estimated value: ₹642.86 crore
  • Includes purchase of goods (₹305.80 crore), sale of goods (₹332.29 crore), and availing services (₹4.77 crore)
  • Constitutes 190.33% of company's FY26 turnover and 11.89% of Greenstar's FY26 turnover

7. Related Party Transaction - SPIC: Ordinary Resolution for material related party transactions with Southern Petrochemical Industries Corporation Limited (SPIC) for same period:

  • Estimated value: ₹370.39 crore
  • Includes purchase of goods (₹304.50 crore), sale of goods (₹59.07 crore), rendering services (₹5.57 crore), availing services (₹1.15 crore), royalty receipt (₹0.10 crore)
  • Constitutes 109.66% of company's FY26 turnover and 12.53% of SPIC's FY26 turnover

Financial Performance Highlights (FY 2025-26)

  • Revenue from Operations: ₹337.77 crore
  • Profit Before Tax: ₹52.72 crore
  • Total Income: ₹343.08 crore
  • Gross Profit: ₹67.73 crore (before depreciation and interest)
  • Interest: ₹6.62 crore
  • Depreciation: ₹8.38 crore
  • Net Profit/ (Loss): ₹52.72 crore
  • Accumulated Loss: ₹(148.49) crore
  • Net Worth: ₹180.81 crore (after revaluation), ₹(21.15) crore (before revaluation)
  • EPS & Diluted EPS: ₹3.00
  • No Dividend declared due to accumulated losses

Production and Sales Performance

  • Soda Ash Production: 70,450 MT (highest since FY 2011-12, 13.1% increase YoY)
  • Soda Ash Sales: 68,341 MT (9.3% increase YoY)
  • Ammonium Chloride Production: 60,740 MT
  • Ammonium Chloride Sales: 58,433 MT (18.6% increase YoY)
  • Captive Salt Production: 16,353 MT

Capital Structure

  • Subscribed Equity Share Capital: ₹121,83,58,300 as of 31st March 2026
  • No alterations in share capital during the year
  • Promoter Holding: 74.99% (SPIC: 23.46%, AMI Holdings: 46.61%, Greenstar Fertilizers: 4.92%)
  • 98.90% of equity shares held in dematerialized form

Board Composition (as of 12th August 2026)

  • Mr. Ashwin C Muthiah - Chairman (Non-Executive Non-Independent)
  • Ms. Devaki Muthiah Chardon - Director (Non-Executive Non-Independent)
  • Mr. K.R. Anandan - Director (Non-Executive Non-Independent)
  • Ms. Sashikala Srikanth - Independent Director
  • Mr. T.K. Arun - Independent Director
  • Mr. G D Sharma - Independent Director
  • Ms. Latha Ramanathan - Independent Director
  • Mr. E. Rajeshkumar - Whole-Time Director

Key Management Personnel

  • Mr. D Prem Babu - Chief Financial Officer
  • Ms. C S Vijayalakshmi - Company Secretary

Corporate Governance

  • Conducted 5 Board meetings during FY 2025-26 with full attendance by all directors
  • All mandatory committees constituted (Audit, Nomination & Remuneration, Stakeholders Relationship, Risk Management, CSR, Borrowing)
  • Whistle Blower Policy and Vigil Mechanism in place
  • No instances of fraud reported by auditors
  • No sexual harassment cases reported

Sustainability Initiatives

  • Achieved 99% biomass utilization (increased from 89% in FY25)
  • Green power share increased from 28% to 53%
  • Significant reduction in carbon emission intensity for Soda Ash
  • Received FICCI Award for 'Best Green Process Award' in 2026
  • Certified for ISO 9001:2015 (Quality) and ISO 14001:2015 (Environmental Management)

Future Outlook

  • Strategic expansion of Soda Ash production capacity from 75 KTPA to 275 KTPA
  • Development of value-added products including Dense Soda Ash, Fertilizer Grade Granular Ammonium Chloride
  • Planning to install 75 MT/hr biomass boiler to strengthen renewable energy integration
  • Focus on export markets, particularly European Union, leveraging low-carbon manufacturing

Material Contracts and Arrangements

All Related Party Transactions are in ordinary course of business and at arm's length basis. The company has obtained necessary approvals from Audit Committee and Board of Directors for these transactions.

Voting Instructions

Detailed e-voting instructions provided for shareholders holding shares in both physical and dematerialized form through CDSL and NSDL systems. Remote e-voting available from 22nd to 24th September 2026.

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