Meeting Details

The Forty-First Annual General Meeting of Virgo Polymers India Limited will be held on Monday, 28th September 2026 at 11:30 AM IST through Video Conferencing/Other Audio Visual Means without physical presence of members. The deemed venue is the Registered Office at A-1-A, MMDA Industrial Complex, Maraimalai Nagar, Chennai-603209, Tamil Nadu.

Ordinary Business Items

Item No. 1: Adoption of Financial Statements

To receive, consider and adopt the Audited Financial Statements comprising Balance Sheet as on 31st March 2026, Profit and Loss Account, and Cash Flow Statement for FY 2025-26, together with Reports of Board of Directors and Auditors.

Item No. 2: Re-appointment of Director

To appoint Mr. Varun Ramsisaria (DIN: 01107837) who retires by rotation and is eligible for re-appointment as Whole-Time Director under Section 152 of Companies Act, 2013 and Regulation 17 of SEBI LODR Regulations.

Special Business Items

Item No. 3: Re-appointment of Managing Director and Remuneration

To reappoint Mr. Vivek Ramsisaria (DIN: 01942187) as Managing Director for five consecutive years from October 01, 2026 to September 30, 2031, with remuneration approval of up to ₹84,00,000 per annum for the period April 01, 2026 to March 31, 2029.

The resolution includes provisions for minimum remuneration payment in case of loss or inadequacy of profits during any financial year within the three-year period, not exceeding statutory limits under Section 197 of Companies Act, 2013.

Financial Performance Context (Explanatory Statement)

The company provided three-year financial performance metrics (standalone audited):

| Financial Year | Total Revenue/Income (₹ Lakhs) | Net Profit Before Tax (₹ Lakhs) | Net Profit After Tax (₹ Lakhs) | Effective Capital (₹ Lakhs) |

| 2025-26 | 15,607.41 | 44.33 | 42.31 | 2,349.90 |

| 2024-25 | 18,636.10 | 270.28 | 231.88 | 2,307.59 |

| 2023-24 | 13,326.19 | 238.76 | 214.91 | 2,075.71 |

Operational Background

The manufacturing facility at A-1-A, MMDA Industrial Complex, Maraimalai Nagar, Tamil Nadu-603209 experienced severe operational disruption due to an industrial strike declared by AITUC Union members (87 employees) effective 13th March 2025. The company permanently closed the manufacturing facility effective 18th May 2026 due to persistent operational issues and safety considerations.

Business Strategy Shift

The company has permanently restructured its operational strategy to focus entirely on trading operations and agency/commission sales, eliminating fixed manufacturing overheads and plant-related operational risks.

Voting Arrangements

The company has engaged Central Depository Services (India) Limited (CDSL) for e-voting services and VC/OAVM facility. Key dates:

  • Cut-off Date: Monday, 21st September 2026
  • Register Closure: Tuesday, 22nd September to Monday, 28th September 2026 (both inclusive)
  • E-voting Period: Friday, 25th September 2026 (9:00 AM IST) to Sunday, 27th September 2026 (5:00 PM IST)

Director Information

Mr. Vivek Ramsisaria (DIN: 01942187), aged 45 years, holds MBA in Finance with over 15 years of executive experience. During FY 2025-26, he received remuneration of ₹30,00,000 per annum. He attended 5 Board meetings during the year and holds no shares in the company as of 31st March 2026.

Document Availability

The Annual Report containing Audited Financial Statements, Board's Report, Auditor's Report, and Notice of AGM is being sent electronically to all members and is available on company website (https://fibcbigbags.com) and BSE website (www.bseindia.com). Physical copies are not being provided.

Scrutinizer Appointment

Mr. S. Vasudevan of M/s. Lakshmmi Subramanian & Associates, Practicing Company Secretaries, Chennai has been appointed as Scrutinizer for vote scrutiny.