Company Overview

Mysore Petro Chemicals Limited (Scrip Code: 506734) filed its 56th Annual Report for FY 2025-26 dated 20th May 2026, complying with SEBI Listing Regulations. The company operates in chemical trading including Orthoxylene, Phthalic Anhydride, and other petrochemical products.

Financial Performance

Key Results (` in lakhs):

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

| Total Revenue | 6,460.28 | 4,642.59 | +39.15% |

| Net Profit/(Loss) | 439.59 | (766.47) | +157.35% |

| Earnings per share (`) | 6.68 | (11.64) | +157.39% |

The company achieved a remarkable turnaround from loss to profit, driven by revenue growth despite a 32.33% decline in profit before interest, depreciation and taxes. Tax provisions decreased significantly by 87.88% to ₹15.27 lakhs.

Significant Balance Sheet Changes

Trade payables surged 470% to ₹2,579.59 lakhs in FY26 from ₹452.86 lakhs in FY25, primarily due to increased trade payables. Current ratio declined to 1.62 from 3.98 due to this liability increase.

Investment in associate I G Petrochemicals Limited stands at ₹13,406.80 lakhs, accounting for 59.63% of consolidated net assets. The group operates as a single reportable segment with three major customers contributing ₹3,721.44 lakhs (10%+ of revenue).

Corporate Actions & Dividend

The Board recommended a 20% dividend (₹2 per equity share) with total outgo of ₹131.67 lakhs. The 56th AGM will be held on August 11, 2026 via video conference, with record date of August 4, 2026.

Subsidiary and Associate Update

Q C Polymer Ltd. (erstwhile subsidiary) entered Creditors' Voluntary Liquidation during the year. I G Petrochemicals Limited (Associate, 13.23% holding) reported revenue of ₹1,95,084.42 lakhs with profit of ₹221.93 lakhs for FY26.

Management Changes

  • Smt. Uma Acharya ceased as Independent Director effective 24th May 2025
  • Smt. Labdhi Shah resigned as Company Secretary effective 5th January 2026
  • Shri Umang Dhanuka appointed as Non-Executive Director effective 25th May 2025
  • Shri Saurabh Pandit appointed as Company Secretary effective 12th February 2026

Key Managerial Personnel include Shri S N Maheshwari (Executive Director), Shri Nilesh Panchal (CFO), and Shri Saurabh Pandit (Company Secretary).

Auditors and Compliance

Statutory Auditors M/s. RMJ & Associates LLP provided unqualified reports with no material fraud incidents. Secretarial Auditors M/s. Martinho Ferrao & Associates reported no qualifying observations. All related party transactions were at arm's length.

Litigation and Contingencies

  • Disputed taxation matter: ₹23.98 lakhs (Karnataka High Court)
  • Disputed demand from Workmen's Union: ₹1,555.63 lakhs (stayed by Karnataka High Court)

Capital Structure and Shareholding

Promoter holding remained stable at 72.99% with 98.52% shares dematerialized. Total outstanding shares: 65,83,488 equity shares of ₹10 each. Unclaimed dividend for FY 2018-19 will be transferred to IEPF on 30th September 2026.

Lease Obligations

Lease liabilities decreased to ₹17.46 lakhs as of March 2026 from ₹22.10 lakhs previous year, with maturity analysis showing ₹6.00 lakhs due within one year and ₹13.50 lakhs due in 1-5 years.

MSME and Trade Payables Disclosure

MSME payables totaled ₹3.30 lakhs as of March 2026, while other trade payables accounted for ₹2,576.29 lakhs. The company confirmed compliance with all statutory requirements including no Benami properties, crypto transactions, or wilful defaulter status.