Panama Petrochem Ltd

AGM details

• AGM date: 24 August 2026; mode: Video Conferencing.
• Total shareholders on record date: 30,711.
• VC attendees: Promoters 57, Public 18.
• Attendance via VC: 75 shareholders.
• No physical attendance; meeting conducted via video conference.

Resolutions & outcomes

• Resolution 1 adopted the Audited Financial Statements; 11 votes against.
• Resolution 2 declared dividend on equity shares; passed.
• Resolution 3 re-appointment of Arif Rayani; passed.
• Resolution 4 ratified remuneration to Cost Auditors; passed.

AGM Details

• AGM held on 24 August 2026 via video conferencing.

Resolutions

• Resolution 1 (Ordinary): Adopt Audited Financial Statements for year ended 31 March 2026.
• Resolution 2 (Ordinary): Declare dividend on equity shares for year ended 31 March 2026.
• Resolution 3 (Ordinary): Re-appoint Arif Rayani as director by rotation.
• Resolution 4 (Ordinary): Ratify remuneration payable to Cost Auditors for FY 2026-27.

Voting outcomes

• Resolution 1 passed; 99.94% in favour.
• Resolution 2 passed; 11 votes against.
• Resolution 3 passed; 99.94% in favour.
• Resolution 4 passed; overwhelming support.

Director changes

• Arif Rayani retires by rotation and is reappointed.

Auditor matters

• Cost Auditor remuneration ratified for FY 2026-27.

AGM Details

• AGM held on August 24, 2026 at 11:30 IST via Video Conferencing.
• No physical attendance; proxies not required except corporate authorized representatives.

Key Resolutions & Outcomes

• Adopt Audited Financial Statements and Consolidated Statements for year ended March 31, 2026; passed with requisite majority.
• Declare dividend on equity shares for year ended March 31, 2026; passed with requisite majority.
• Appoint Arif Rayani on rotation; eligible for re-appointment; passed with requisite majority.
• Ratify remuneration payable to Cost Auditors for FY 2026-27; passed with requisite majority.

Audit Reports

• Statutory Auditor's Report and Secretarial Audit Report for FY 2025-26 were unqualified.

Director Changes

• Arif Rayani retires by rotation; re-appointment approved.

Financial results approved

• Approved unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Results reviewed by Audit Committee; Board approved on 12 August 2026; Limited Review Report enclosed.
• Consolidated results include Panol Industries RMC, FZE subsidiary.
• Prepared under Ind AS 34; Regulation 33 of SEBI LODR complied.
• Limited review found no material misstatement.

Quarter results overview

• Board approves unaudited Q1 FY27 standalone and consolidated results for quarter ended 30 June 2026.
• Consolidated revenue from operations Rs 1,735.15 crore; total revenue Rs 1,739.03 crore.
• Consolidated PBT Rs 382.58 crore; PAT Rs 308.91 crore; EPS Rs 51.06.
• Standalone revenue from operations Rs 1,247.86 crore; total income Rs 1,252.08 crore.
• Standalone PBT Rs 291.19 crore; PAT Rs 217.52 crore; EPS Rs 35.95.
• Company operates a single primary segment: Specialty petroleum products.
• Audit Committee reviewed results; Board approved on 12 August 2026.
• Independent auditor's review found no material misstatement.

Meeting Details

• Board meeting scheduled for August 12, 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve standalone and consolidated unaudited financial results for quarter ended June 30, 2026.

Other Notes

• No trading window details disclosed.

AGM notice and e-voting ad

• Newspaper advertisement published July 29, 2026 for AGM notice and e-voting information in English and Gujarati.

AGM notice & e-voting publication

• Newspaper advertisement published for Panama Petrochem Limited's AGM and e-voting information.
• Notice published in English and Gujarati newspapers on July 29, 2026.
• Copies of the newspaper advertisement enclosed for the company's records.
• No material governance changes or financial implications disclosed.

AGM and annual report communications

• Intimation of the 44th AGM on 24 August 2026 via VC/OAVM.
• AGM Notice and Annual Report for FY2025-26 sent to members with registered email IDs.
• Web link to access the Annual Report provided for unregistered-email shareholders.
• Web link: https://panamapetro.com/uploads/documents/1784885240-1.pdf.
• Registration of email IDs and mobile numbers is mandatory for remote e-voting and meeting participation.
• Electronic holders must update email with DP and provide PAN and KYC if not updated.
• Physical holders to register email via ISR-1 with RTA and update KYC.

Overview

• Main activity: Coke and refined petroleum products manufacturing; 99.19% turnover from Panoil-branded products.
• Reporting boundary: standalone BRSR for FY 2025-26; exports accounted for 35.69% of turnover.
• Operations include 3 plants and 5 offices in India; 22 states, 3 UT; 88 countries served.
• CSR applicability; turnover 1775.72 Cr; net worth 932.62 Cr.

Key ESG Risks & Opportunities

• Occupational health and safety is a key risk with a comprehensive safety framework.
• Climate change and geopolitical risks identified; ESG risk analysis with Board oversight.
• Scope 2 target: shift to 50% renewable energy; 25% Scope 1 reduction achieved.
• 100% inputs sourced sustainably; supplier engagement aligns with ESG expectations.
• Gold EcoVadis target; baselining carbon, water, and waste footprints.
• Cybersecurity risk; Risk Management Committee oversees; cyber insurance in place.

Governance & Policy Highlights

• Board oversight via Risk Management and CSR Committees for sustainability matters.
• Anti-corruption policy; web link provided on company site.
• Whistleblower policy and Internal Complaints Committee for POSH; strong grievance mechanisms.
• Policies cover NGRBC principles; external evaluation by Ramanlal G Shah & Co.
• Training: 100% BoD/KMP and broader employee safety and sustainability training.

Social Responsibility & Workforce

• Total workforce: 134 permanent employees (108 male, 26 female); 153 total workers.
• Female representation on board: 12.5%; KMP female share: 16.7%.
• Parental leave: 100% return-to-work and retention rates.
• Training on health, safety, POSH; 70-81% coverage varies by category.
• Wages: females' share of gross wages 5.04%.
• No unions; PF/Gratuity/ESI coverage details provided.

Environmental Performance

• Scope 1: 389.08 tCO2e; Scope 2: 703.65 tCO2e; intensity ~0.07295 tCO2e/USD PPP.
• Energy consumption: total ~9.46 billion KJ; renewable share significant; non-renewable present.
• Waste: total 11.92 MT; plastic 11.13 MT; hazardous 0.79 MT; 11.13 MT recycled.
• Water withdrawal: 7,306 KL; water intensity 37.24 L per INR; 37.55 L/MT.
• Certifications: ISO 9001, ISO 14001, ISO 45001; FDA IS 335; ISCC PLUS.
• Zero liquid discharge mechanism implemented; external evaluation by Ramanlal G Shah & Co.

Stakeholder Engagement & Complaints

• Stakeholders: customers, communities, regulators, shareholders, vendors; ongoing engagement via email and website.
• Whistleblower policy and escalation channels; community grievances addressed through policy.
• Consumer complaints: five filed in FY25-26; five pending at year-end.
• Grievance mechanisms exist for employees/workers; POSH ICC oversight by Head of HR.

Other Notable Metrics

• Sustainable sourcing: 100% inputs sourced sustainably; structured supplier engagement.
• No product recalls; cyber security and data privacy policy with cyber insurance.
• EcoVadis Gold target; external assurance by Ramanlal G Shah & Co.