Valplast Technologies 13th AGM Notice and Annual Report 2025-26

AGM Details

Meeting Date: Tuesday, September 15, 2026 at 11:30 AM (IST)
Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM)
Record Date: September 08, 2026
Book Closure: September 09, 2026 to September 15, 2026 (both days inclusive)
E-voting Period: September 12, 2026 (9:00 AM) to September 14, 2026 (5:00 PM)
Scrutinizer: Mr. Rajat Mishra, Practicing Company Secretary (Membership No. A47538)
E-voting Service Provider: Bigshare Services Pvt. Ltd.

Business Items for AGM

Ordinary Business

1. Adoption of Audited Financial Statements for FY ended March 31, 2026

2. Approval of Final Dividend of ₹1.00 per equity share (10% of face value)

3. Re-appointment of Mrs. Madhunita (DIN 08870147) as Director retiring by rotation

Special Business

4. Alteration of Main Objects Clause of Memorandum of Association to expand business activities to include mechanical, electrical, plumbing (MEP), civil and infrastructure works

5. Regularization of appointment of Mr. Yatish Kumar Goel (DIN 11467472) as Independent Director for 5 years

Financial Performance (Standalone)

FY 2025-26 Highlights:

Revenue from Operations: ₹102.36 crore (Previous Year: ₹63.25 crore)
Other Income: ₹0.98 crore (Previous Year: ₹1.28 crore)
Total Income: ₹103.34 crore (Previous Year: ₹64.53 crore)
Total Expenses: ₹89.77 crore (Previous Year: ₹56.31 crore)
Profit Before Tax: ₹13.57 crore (Previous Year: ₹8.22 crore)
Tax Expense: ₹4.26 crore (Previous Year: ₹2.10 crore)
Net Profit After Tax: ₹9.31 crore (Previous Year: ₹6.12 crore)
Earnings Per Share: ₹5.49 (Previous Year: ₹4.24)
Dividend Recommended: Final dividend of ₹1.00 per equity share

Capital Structure Changes

Paid-up Equity Share Capital: Increased from ₹14.43 crore to ₹19.63 crore
IPO Details: Fresh allotment of 52,02,000 Equity Shares of face value ₹10.00 each at premium of ₹44.00 per share
IPO Proceeds: ₹28.09 crore gross proceeds
Listing: Shares listed on SME platform of BSE Limited effective October 8, 2025

IPO Proceeds Utilization

| Capital Expenditure | 4.95 | 0.00 | 4.95 |

| Working Capital | 14.00 | 14.00 | 0.00 |

| General Corporate Purpose | 6.03 | 5.92 | 0.11 |

| Issue Expenses | 3.11 | 3.11 | 0.00 |

| Total | 28.09 | 23.02 | 5.07 |

Note: Members approved variation in utilization of specified IPO proceeds towards General Corporate Purposes and Working Capital through Postal Ballot on June 28, 2026

Board and Management Changes

Appointments:

Mr. Yatish Kumar Goel (DIN 11467472) appointed as Additional Director (Non-Executive & Independent) with effect from January 15, 2026

Resignations:

Mrs. Manisha Kide (DIN 10234211) resigned as Director with effect from December 18, 2025
Mr. Devendra Singh (DIN 07562295) resigned as Director and CFO with effect from March 20, 2026

Key Managerial Personnel:

Mr. Sanjay Kumar - Chairman & Managing Director
Mr. Rajeev Tyagi - Whole-time Director
Ms. Shivangi Dixit - Company Secretary
Mr. Raghuveer Prasad - Chief Financial Officer (appointed after resignation of Mr. Devendra Singh)

Corporate Governance

Board Committees:

1. Audit Committee: Mrs. Manisha Kide (Chairperson), Mr. Yogesh Jadon, Mr. Sanjay Kumar

2. Nomination and Remuneration Committee: Mr. Yatish Kumar Goel (Chairperson), Ms. Madhunita, Mr. Yogesh Jadon

3. Stakeholders Relationship Committee: Mrs. Madhunita (Chairperson), Mr. Yogesh Jadon, Mr. Rajeev Tyagi

4. CSR Committee: Mr. Sanjay Kumar (Chairman), Mr. Yogesh Jadon, Mr. Rajeev Tyagi

Board Meetings:

12 meetings held during the year with 100% attendance by most directors

Directors' Remuneration (₹ lakhs)

| Mr. Sanjay Kumar | Managing Director | 144.24 | 144.24 |

| Mr. Rajeev Tyagi | Whole-time Director | 54.99 | 54.99 |

| Mr. Devendra Singh | Whole-time Director | 13.03 | 13.03 |

| Mrs. Madhunita | Non-Executive Director | 0.00 | 1.30 |

| Mr. Yatish Kumar Goel | Independent Director | 0.00 | 0.20 |

| Mr. Yogesh Jadon | Independent Director | 0.00 | 1.30 |

CSR Activities

CSR Obligation: ₹13.72 lakhs (2% of average net profit)
Amount Spent: ₹12.01 lakhs
Shortfall: ₹1.71 lakhs set off against excess expenditure of previous years
Projects: Educational purpose for Student Empowering Urban Youth Vocational Training Programs through Bhagawan Sri Bala Sai Educational and Charitable Society

Auditors

Statutory Auditors: M/s KRA & Co. Chartered Accountants (FRN: 020266N)
Internal Auditors: KSAA & Co. Chartered Accountants (FRN: 038529C)
Secretarial Auditor: M/s Surendra Barnwal & Associates

Legal and Regulatory Matters

Income Tax Demand: ₹12.13 crore for Assessment Year 2020 (including interest of ₹4.84 crore)
Contingent Liabilities: ₹12.21 crore (Previous Year: ₹13.38 crore)
Bank Guarantees: ₹3.41 crore outstanding for contractual performance obligations

Related Party Transactions

Significant transactions with promoters/directors including remuneration, unsecured loans, and interest payments disclosed in financial statements

Shareholding Pattern

Promoters Holding:

| Mr. Sanjay Kumar | 74,99,967 | 38.21% | 51.99% |

| Mr. Rajeev Tyagi | 49,99,976 | 25.47% | 34.66% |

| Total | 1,24,99,943 | 63.68% | 86.65% |

Promoters' holding diluted due to IPO issuance

Business Overview

Valplast Technologies Limited is engaged in specialized waterproofing and allied infrastructure solutions including:

Waterproofing of underground structures, tunnels, dams, channels
Injection and pre-injection grouting
Tunnel construction and rehabilitation
Coastal protection and slope protection
Electromechanical and tunnel automation solutions

Important Dates

Financial Year: April 1, 2025 to March 31, 2026
AGM Date: September 15, 2026
Report Date: May 20, 2026 (Financial Statements)
IPO Listing Date: October 8, 2025