Key Financial Figures (FY 2025-26 vs. FY 2024-25)

  • Sales / Other Income: ₹12,817.02 Lakhs (Prev. ₹13,470.17 Lakhs)
  • Interest Expense: ₹500.65 Lakhs (Prev. ₹454.73 Lakhs)
  • Depreciation: ₹514.42 Lakhs (Prev. ₹622.73 Lakhs)
  • Profit/(Loss) Before Tax: ₹186.72 Lakhs (Prev. ₹-1.81 Lakhs)
  • Exceptional Items: None (Prev. None)
  • Provision for Taxation: None (Prev. None)
  • Profit/(Loss) After Tax: ₹186.72 Lakhs (Prev. ₹-1.81 Lakhs)
  • Transfer to Reserves: No amount transferred to General Reserve.
  • Dividend: No dividend recommended for FY 2025-26 due to inadequate profit.

Share Capital

  • Paid-up Equity Share Capital as on March 31, 2026: ₹224.65 Lakhs (22,465,000 equity shares of ₹1 each).
  • No shares were issued during the year under review.
  • The company has not issued shares with differential voting rights.

AGM Details

  • 37th Annual General Meeting to be held on Wednesday, September 30, 2026, at 09:00 A.M. at the Registered Office: Plot No. 51, Roz-Ka-Meo, Industrial Area Sohna, Mewat, Haryana – 122103.
  • Ordinary Business: To adopt audited financial statements and to appoint a director (Mrs. Pratibha Rao Ketineni) who retires by rotation.
  • Special Business: To appoint M/s Neeraj Bajaj & Associates, Company Secretaries (ACS NO. 28501, CP NO. 27770) as Secretarial Auditor for a term of five consecutive financial years, commencing from the conclusion of the 37th AGM till the conclusion of the 42nd AGM.
  • Book Closure Dates: September 24, 2026, to September 30, 2026 (both days inclusive).
  • E-voting Period: Begins on September 27, 2026, at 9:00 A.M. and ends on September 29, 2026, at 5:00 P.M.
  • Scrutinizer: Mr. Vipin Chauhan (Advocate) appointed to scrutinize the remote e-voting process.

Board of Directors (as on March 31, 2026)

  • Managing Director: Mr. Ketineni Satish Rao
  • Directors: Mr. Pradeep Kumar Jain, Ms. Pratibha Rao Ketineni, Ms. Nidhi Dwarakanath, Dr. Damodar Bhawarilal Chhaparwal, Mr. Sridhar Das
  • Company Secretary: Mr. Mohit Chauhan
  • Auditors: Mahesh Yadav and Company, Chartered Accountants (Firm Regn. No. 036520N)
  • Bankers: Axis Bank, HDFC Bank
  • RTA: Beetal Financial and Computers Services (P) Limited

Key Operational Highlights

  • Principal Business Activity: Manufacture of packaging products of plastics (NIC Code 3132), contributing 100% to total turnover.
  • Manufacturing Facilities: Four plants located in Rudrapur (Uttarakhand), Baddi (Himachal Pradesh), Guwahati (Assam), and Manesar (Haryana).
  • List of Esteemed Customers: Includes Dabur India Limited, Perfetti Van Melle India, Heinz India, Wipro Consumer Care, Patanjali Ayurvedic, Godrej Consumer Products, Marico, Bisleri, etc.
  • Human Resources: 105 permanent employees on rolls as of March 31, 2026.
  • Subsidiaries/JVs/Associates: None as of March 31, 2026.

Key Appointments and Remuneration

  • Key Managerial Personnel (KMP):
  • Mr. Ketineni Satish Rao (Managing Director): Remuneration ₹72.00 Lakhs
  • Mr. Sanjay Saigal (CFO): Remuneration ₹9.60 Lakhs
  • Mr. Mohit Chauhan (Company Secretary): Remuneration ₹4.20 Lakhs
  • Statutory Auditors: M/s Mahesh Yadav & Co., appointed till the conclusion of the 39th AGM, remuneration ₹2.55 Lakhs per annum.
  • Secretarial Auditor for FY25-26: M/s Lalit Sharma & Associates. The Board has recommended the appointment of M/s Neeraj Bajaj & Associates as Secretarial Auditor for the next five years, subject to shareholder approval.

Corporate Governance and Compliance

  • The Secretarial Audit Report for FY 2025-26 does not contain any qualifications, reservations, or adverse remarks.
  • The Annual Secretarial Compliance Report was submitted to the stock exchanges on May 25, 2025.
  • The company has received necessary declarations of independence from all its Independent Directors.
  • Five Board meetings and five Audit Committee meetings were held during the year.
  • The company has in place a Whistle Blower Policy, Related Party Transaction Policy, and Remuneration Policy.

Related Party Transactions

All related party transactions are stated to be in the ordinary course of business and at arm's length. Details are provided in Note 31 to the financial statements and in Annexure C (Form AOC-2) of the Director's Report.

Shareholding Pattern (as on March 31, 2026)

  • Promoters: 74.36% (16,705,940 shares)
  • Public Shareholding: 25.64% (5,759,060 shares)
  • Dematerialized Shares: 92.31% of the paid-up capital
  • Top Shareholders:
  • Mr. Ketineni Satish Rao: 71.26% (16,007,690 shares)
  • Mr. Ketineni Sayaji Rao: 2.67% (600,000 shares)
  • Mrs. Pratibha Rao Ketineni: 0.44% (98,250 shares)

Indebtedness (as on March 31, 2026)

  • Secured Loans: ₹642.65 Lakhs (Prev. ₹399.79 Lakhs)
  • Unsecured Loans: ₹1,344.66 Lakhs (Prev. ₹2,216.10 Lakhs)
  • Total Indebtedness: ₹1,987.31 Lakhs (Prev. ₹2,615.89 Lakhs)

Auditor's Emphasis of Matter

The Statutory Auditor's report draws attention to the following notes:

  • Debtors of ₹141.20 Lakhs under litigation in NCLT, with low probability of recovery.
  • Payment of wages to contract workers in cash, above PF/ESI limits, with no prima facie liability acknowledged.
  • Trade receivables and payables balances are subject to reconciliation and confirmation.
  • Bonus of ₹15.32 Lakhs pertaining to previous years is pending; ₹13.46 Lakhs provided for FY26 without detailed calculation.
  • Interest not paid on amounts due to MSME creditors beyond 45 days.
  • Internal auditor not appointed as per Section 138 of the Companies Act, 2013.

Other Key Disclosures

  • Fixed Deposits: The company has not accepted any deposits under Chapter V of the Companies Act, 2013.
  • Corporate Social Responsibility (CSR): No CSR expenditure incurred during the year.
  • Conservation of Energy, Technology Absorption: Details provided in Annexure A to the Director's Report.
  • Foreign Exchange Earnings/Outgo: None during the year under review.
  • Extract of Annual Return (Form MGT-9): Provided as Annexure D to the Director's Report.

Forward-Looking Statements

Management Discussion & Analysis cites a highly competitive environment, rising raw material costs (PET/PP), and the need for cost competitiveness, debt reduction, and better product mix as key strategies. The company believes PET bottles remain the best packaging option due to recyclability.