Board Meeting Details

The Board Meeting commenced at 5:00 PM (IST) and concluded at 5:25 PM (IST) on 30th October, 2026.

Key Approvals

1. Un-audited Financial Results: The Board approved the un-audited financial results for the half year ended 30th September, 2026, along with the Limited Review Report by Statutory Auditors M Parashar & Company - Chartered Accountant, Mumbai.

2. Rectification of Error: The Board approved rectification of an inadvertent error found in Note Nos. 3.3 and 3.4 of the Audited Financial Statements for the financial year ended 31st March, 2026, concerning non-adjustment of promoter shareholding for the Offer for Sale (OFS) of 10,00,000 equity shares.

Financial Performance Highlights (H1 FY27)

  • Revenue from Operations: ₹30,303.58 lakhs (H1 FY26: ₹29,427.97 lakhs)
  • Other Income: ₹615.68 lakhs (H1 FY26: ₹44.23 lakhs)
  • Total Income: ₹30,919.26 lakhs (H1 FY26: ₹29,472.20 lakhs)
  • Total Expenses: ₹26,583.54 lakhs (H1 FY26: ₹28,897.75 lakhs)
  • Profit Before Tax: ₹4,335.72 lakhs (H1 FY26: ₹574.45 lakhs)
  • Tax Expense: ₹1,094.15 lakhs (Current: ₹1,093.55 lakhs, Deferred: ₹0.59 lakhs)
  • Net Profit: ₹3,241.57 lakhs (H1 FY26: ₹426.43 lakhs)
  • Paid-up Equity Share Capital: ₹2,035.80 lakhs (Face value ₹10 per share)
  • Earnings Per Share (Basic & Diluted): ₹15.92 (H1 FY26: ₹2.69)

Balance Sheet Position (as at 30th September, 2026)

  • Total Shareholders' Funds: ₹19,815.95 lakhs
  • Non-current Liabilities: ₹31.25 lakhs
  • Current Liabilities: ₹11,926.92 lakhs
  • Total Liabilities: ₹31,774.12 lakhs
  • Non-current Assets: ₹6,414.03 lakhs
  • Current Assets: ₹25,360.10 lakhs
  • Total Assets: ₹31,774.12 lakhs

Cash Flow Statement (H1 FY27)

  • Cash from Operating Activities: ₹3,423.82 lakhs
  • Cash used in Investing Activities: ₹(4,743.93) lakhs
  • Cash used in Financing Activities: ₹(0.53) lakhs
  • Net Decrease in Cash: ₹(1,320.65) lakhs
  • Cash at Beginning: ₹9,776.73 lakhs
  • Cash at End: ₹8,456.08 lakhs

Key Business Highlights

  • The company is engaged in a single business segment: Trading of Polymers
  • Significant improvement in realization from sales per unit sold during H1 FY27
  • Improvement attributed to Middle East war impacting supplier production capacity and increased import transit periods
  • Marginal increase in sales turnover with substantial profit improvement

Foreign Currency Exposure

  • Foreign Currency Assets: ₹189.93 lakhs
  • Foreign Currency Liabilities: ₹10,724.90 lakhs
  • The company manages currency risk through natural hedges and periodic management review
  • Exchange differences recognized in Profit and Loss statement
  • No material foreign exchange losses foreseen as of reporting date

Rebate Arrangement Disclosure

The company is entitled to rebates from certain vendors upon fulfillment of conditions. During H1 FY26, volume targets were met but rebate amount is under negotiation due to war situation and global crisis. Rebate not recognized in financial results as amount cannot be measured reliably. Will be recognized when finalized with vendor.

Error Rectification Details

The inadvertent error in FY26 financial statements concerned:

  • Original Reported Promoter Holding: 1,57,84,500 shares (77.53%)
  • Corrected Promoter Holding: 1,47,84,500 shares (72.62%)
  • OFS Shares Sold: 10,00,000 equity shares
  • Promoter Selling Shareholders:
  • Mrs. Purnima Mukesh Thakkar: 4,00,000 shares
  • Mr. Mukesh Natverlal Thakkar: 3,00,000 shares
  • Mr. Bhavik Mukesh Thakkar: 3,00,000 shares

The error was limited to disclosure notes 3.3 and 3.4 and did not affect balance sheet, profit and loss, cash flow statement, or EPS figures. The OFS involved transfer of existing shares without fresh issue or alteration of share capital.