Meeting Details

The 40th Annual General Meeting of Manali Petrochemicals Limited was held on 28th September 2026 through Video Conferencing/Other Audio-Visual Means (VC/OAVM) using the WebEx Platform facilitated by Central Depository Services (India) Limited. The meeting commenced at 5:00 PM (IST) and concluded at approximately 5:45 PM (IST). The necessary quorum was present throughout the meeting.

Attendees

The meeting was chaired by Mr. Ashwin C Muthiah, Chairman. Chairpersons of the Audit Committee, Stakeholders Relationship Committee, and the Nomination and Remuneration Committee attended the meeting. The Statutory Auditors and Secretarial Auditors were also present.

Resolutions Transacted

Ordinary Resolutions:

1. Adoption of the Audited Financial Statements of the Company and other related Reports for the year ended 31st March 2026.

2. Declaration of dividend for the financial year 2025-26.

3. Re-election of Mr. Ashwin C Muthiah (DIN: 00255679) as a Director of the Company liable to retire by rotation.

4. Ratification of remuneration to the Cost Auditor for the year 2026-27.

5. Prior approval under Regulation 23 of the SEBI Listing Regulations, 2015 for purchase and sale of goods, services and other transactions with Tamilnadu Petroproducts Limited, Chennai, a Related Party for an aggregate value of Rs. 150 crore excluding applicable taxes and duties.

Special Resolution:

6. Approval of remuneration payable to Non-Executive Directors of the Company for the FY 2025-26.

Voting Process

The Members were informed about the e-Voting facility made available prior to the meeting to vote on the resolutions. Facility was also available for those who had not availed remote e-Voting to cast their votes during the meeting through electronic means. M/s. B Chandra & Associates, Practicing Company Secretaries, Chennai were appointed as the Scrutinizers for both remote e-voting and e-Voting during the meeting. Their report is awaited, and the results will be announced to the Stock Exchanges, uploaded on the Website of the Company and CDSL on receipt of the report.

Financial and Operational Highlights from Chairman's Speech

  • The Company recorded standalone total income of Rs. 822 crore for FY 2025-26, compared to Rs. 669 crore in the previous year.
  • The expanded Propylene Glycol facility at Plant II, Manali was inaugurated, adding 50,000 tonnes per annum capacity to existing 22,000 tonnes, taking total installed capacity to 72,000 tonnes per annum.
  • The company divested its interest in Notedome Limited, UK as part of portfolio rationalization.
  • PennWhite Limited, UK continued steady performance, and its subsidiary PennWhite India inaugurated its manufacturing facility at Oragadam in April 2026.
  • The company is progressing plans to establish an additional manufacturing facility in western India for system polyols.

ESG Initiatives

  • Maintained ISO 9001:2015 and ISO 14001:2015 certifications, and obtained ISO 45001:2018, FSSC 22000 Version 6, Kosher, and ISCC PLUS certifications.
  • Both plants operate entirely on R-LNG (Regasified Liquefied Natural Gas) as exclusive thermal-energy source.
  • New boiler with Low-Nox burner installed at Plant II.
  • Renewable energy accounted for 58% of total power consumption.
  • Achieved annual reduction of approximately 55,000 tonnes of CO₂ equivalent.
  • Maintained green belt of 19.55 hectares with approximately 30,000 saplings.

Dividend Declaration

The directors recommended a dividend of 10% totaling Rs. 8.60 crores, subject to rounding off and applicable taxes.

CSR Initiatives

  • Primary Health Care Centres served over 60,000 patients during the year.
  • Constructed sanitation facility benefiting 135 students.
  • Constructed 10 regular toilets across 8 schools benefiting approximately 2,000 students.
  • Constructed 26 disabled-friendly toilets across 21 schools benefiting 169 students.

Compliance Statement

The meeting was conducted in due compliance with the stipulations of the relevant Circulars of the MCA and SEBI.