AGM Details

The 34th Annual General Meeting will be held on Monday, 28th September, 2026 at 11:30 AM at the Registered Office situated at 2, Ashish Warehouse Corporation, Punjab Foundry Industrial Estate, Near Classic Studio, Mira Bhayander Road, Kashimira, Mira-Road East, Dist. Thane, Maharashtra, India 401104.

Agenda Items

1. To receive, consider and adopt Audited Standalone Financial Statements for FY ended 31st March 2026 with Reports of Board of Directors and Statutory Auditors

2. To reappoint Mrs. Radhika Sameer Rane (DIN: 08126818) as Woman Non-Executive Non-Independent Director

3. To reappoint M/s. Jain Vinay & Associates, Chartered Accountants (ICAI Firm Registration No. 006649W) as Statutory Auditors for 5 years

Financial Performance (Amount in ₹ Lakhs)

| Particulars | FY 2025-26 | FY 2024-25 |

| Total Revenue | 39.49 | 7.05 |

| Profit/(Loss) before taxation | (16.99) | (47.64) |

| Profit/(Loss) after tax | (16.99) | (47.64) |

| Earnings per share (₹) | (0.14) | (0.38) |

Key Financial Position:

  • Paid-up Equity Share Capital: ₹12,49,85,500 (unchanged during FY26)
  • Total Assets: ₹230.15 lakhs (Previous year: ₹232.50 lakhs)
  • Net Worth: Negative ₹369.53 lakhs (Previous year: Negative ₹353.11 lakhs)
  • Current Ratio: 0.17 (Previous year: 0.18)
  • Debt-Equity Ratio: Negative 1.62 (Previous year: Negative 1.66)

Operational Status

The Company has closed down its operations at Silvassa & Pune plant during FY 2023-24. Manufacturing operations stopped completely since plant & machinery, Land & Building, Warehouse at Pune were sold during FY 2023-24. There exists material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern.

Corporate Insolvency Resolution Process

The Board of Directors vide meetings dated 8th March 2022 and 11th April 2022, and shareholders through postal ballot on 14th April 2022, approved a special resolution for initiation of corporate insolvency resolution process under Section 10 of the Insolvency and Bankruptcy Code, 2016. This process remains pending.

Board of Directors Composition

  • Mr. Madhup Bansilal Vaghani: Chairman & Whole Time Director (DIN: 00067115)
  • Mrs. Radhika Sameer Rane: Woman & Non Executive-Non Independent Director (DIN: 08126818)
  • Mr. Gopal Ajay Malpani: Independent Non-Executive Director
  • Mr. Devendra Kumar Negi: Independent Non-Executive Director (DIN: 00727105)

Four Board Meetings were held during FY26 on: 28th May 2025, 14th August 2025, 11th November 2025, and 10th February 2026. All directors attended all meetings.

Key Managerial Personnel Changes

  • Mr. Milan B. Bhaya resigned as Chief Financial Officer w.e.f. 20th May 2025
  • Mr. Pankaj B. Bhaya appointed as Chief Financial Officer w.e.f. 28th May 2025
  • Vishakha Jain continues as Company Secretary and Compliance Officer

Share Capital Structure

  • Authorized Capital: 25,000,000 equity shares of ₹10 each (₹2,500 lakhs)
  • Issued, Subscribed & Paid-up Capital: 12,497,100 equity shares of ₹10 each fully paid up + 2,900 forfeited shares (₹1,249.85 lakhs)
  • Shareholding Pattern (as on 31st March 2026):
  • Promoters: 24.00%
  • Public: 75.99%
  • Institutional Investors: 0.01%
  • 83.99% shares held in dematerialized form

Contingent Liabilities (₹ Lakhs)

  • Bank guarantees: 19.35
  • Income tax demands under dispute: 2,608.50
  • Excise duty cases under dispute: 513.73

Related Party Transactions

Transactions with Key Management Personnel include remuneration of ₹18.86 lakhs and short-term borrowings from directors amounting to ₹391.55 lakhs as at 31st March 2026.

Dividend

No dividend recommended for FY 2025-26.

Voting Arrangements

Remote e-voting period begins on Friday, 25th September 2026 at 9:00 AM and ends on Sunday, 27th September 2026 at 5:00 PM through NSDL. Record date for voting: 21st September 2026.

Material Events

  • 12,50,000 equity shares allotted to promoters on preferential basis are pending for listing with BSE Limited
  • Company has not traded or invested in Crypto currency or Virtual currency during the year
  • No cases filed under Sexual Harassment of Women at Workplace Act, 2013

#Tags: #MPLPlastics #FY26Results #AGMNotice #CorporateInsolvency #SEBIDisclosure #RegulatoryCompliance #FinancialUpdate #Negative