Pankaj Polymers Ltd

AGM Details

• Date/time: 30 Sept 2026, 04:00–05:15 PM; VC/OAVM.
• Venue deemed at Corporate Office, Noida, through VC/OAVM.
• Remote e-voting: 27–29 Sept 2026; voting at AGM.

Resolutions

• Adopt Audited Financial Statements for FY 2025-26 (Ordinary).
• Re-appoint Rahul Nagar as Director; retires by rotation (Ordinary).
• Appoint Statutory Auditor for five years (Ordinary).
• Regularise appointment of Prashant Kumar Jha for five years (Special).
• Ratify Explanatory Statement for items 2 and 3 (Special).

Voting results

• Consolidated results to be announced within two working days.
• Results will be submitted to stock exchanges and posted on the company's website.

Director changes

• Rahul Nagar re-appointed as Director (by rotation).
• Prashant Kumar Jha regularised for a five-year term.

Auditor appointments

• Statutory Auditor appointed for five years.

Partnerships to enable digital vouchers

• Partnerships with 99 Gifts, Hubble Money, Daalchini, Magicpin to sell/distribute digital vouchers to end consumers.
• Yoho and Blossom to power issuance and distribution of e-vouchers for D2C brands.
• Platform connects brands, distribution partners and consumers via technology-led voucher solutions.
• Expanding presence across B2C distribution and D2C brand ecosystem.
• Developing fintech and digital commerce technology capabilities.

AGM details

• Corrigendum confirms 34th AGM on Sep 30, 2026 at 04:00 PM IST via VC/OAVM.
• Remote e-voting window: Sep 27–29, 2026 (times specified).
• Corrigendum adds disclosures for Items 2 and 3, including revised allottee details.
• Corrigendum forms part of the AGM Notice and references the July 24 EGM.

Resolutions put to vote

• Special Resolution: Ratify disclosures for Items 2 and 3 of the July 24, 2026 EGM Notice.
• Item No. 2: Issue of up to 8,55,000 equity shares to Non-Promoter category.
• Item No. 3: Issue of up to 22,20,000 warrants convertible into equity to promoter group and non-promoter.

Voting results

• Voting results not disclosed in this corrigendum.

AGM details

• 34th AGM on Sep 30, 2026 at 04:00 PM IST via VC/OAVM.

Voting eligibility

• Cut-off date for voting eligibility is Sep 23, 2026.

Remote e-voting window

• Remote e-voting from Sep 27, 2026, 09:00 IST to Sep 29, 2026, 05:00 IST.

AGM Details

• AGM on Sep 30, 2026 at 04:00 P.M. IST via VC/OAVM.
• No record/book closure dates disclosed.

Key Resolutions

• Special resolution to appoint Prashant Kumar Jha as Independent Director.
• Term: five years from Sep 7, 2026 to Aug 4, 2031.

Voting Results

• Voting outcome not disclosed in the filing excerpt.

Director Changes

• Appointment of Prashant Kumar Jha as Independent Director (Additional Director) from Sep 7, 2026.
• Independent Director to serve for five years.

Financial performance

• Revenue from operations: 129.84 Lakh in FY2025-26.
• Total income: 461.12 Lakh for the year.
• Profit after tax: 219.64 Lakh; EPS 3.96.
• PBT: 229.47 Lakh; tax 9.83 Lakh; OCI -7.21 Lakh; total comp. income 212.43.
• Gross margin on trading: 0.87 Lakh (0.67% of revenue).
• Operating cash flow: net cash from operations -34.26 Lakh.
• Asset disposals: 221.63 Lakh profit; investments 43.45 Lakh; interest 66.09 Lakh.
• Core trading operations incurred a loss of 101.81 Lakh before other income.
• Dividend: No dividend declared for FY2025-26.

Capital structure & liquidity

• Authorized share capital: Rs 15 crore; issued/subscribed paid-up capital: Rs 5.5439 crore.
• Net worth: Rs 1304.59 Lakh; equity shares: 55,43,900.
• Borrowings: Nil at year-end; prior year: Rs 123.11 Lakh.
• Current ratio: 0.93; current assets Rs 100.64 Lakh; current liabilities Rs 108.36 Lakh.
• Dematerialisation: 94.66% of equity shares dematerialised as at 31 Mar 2026.
• No dividend; no deposits outstanding.

Change in governance & management

• Change in control: promoters sold 58.15% stake on 14 Jan 2026; open offer for 26%.
• New management took over; Mayank Chawla appointed CEO on 9 Jun 2026.
• Board upgraded to five new directors: Mayank Chawla, Vikas Garg, Rahul Nagar, Richa Kathuria, Siba Narayan Panda.
• Key managerial: CFO P. Hari Krishna; CS Nupur Garg; other KMP changes noted.
• Statutory auditor: M/s Shilpi Sharma & Co appointed for five years; remuneration Rs 4.0 Lakh p.a.
• Secretarial auditor: M/s N. Madhavi & Associates; Internal auditor: M/s Sandeep Jhawar & Associates.
• Audit Committee reconstituted 28 Jul 2026; new chair: Siba Narayan Panda.

Material changes & commitments

• Aug 22, 2026: alteration of objects clause; name change; registered office shifted from Telangana to Delhi.
• August 22, 2026: approval of preferential issue of equity shares and convertible warrants.
• Promoter transfer completed; new promoters took control in June 2026.

Business developments & strategy

• New preferential issue: 8,55,000 equity shares and 22,20,000 warrants.
• Strategic redeployment: capital redeployed into new lines of activity; debt-free balance sheet.
• Outlook: 2026-27 to be a transition year; complete preferential issue and restructure loans.
• Change in registered office enables potential re-domiciliation considerations.

Regulatory & risk factors

• GST demand of Rs 142.47 Lakh under appeal; Rs 7.38 Lakh deposited under protest.
• Company exposes to commodity price and regulatory risks; trading margins remain thin.
• Concentration risk: revenue largely from KMP-associated counterparties; post-control change unknown.
• Credit risk: loans outstanding Rs 1236.27 Lakh; repayable on demand; no set repayment schedule.

Auditors & internal controls

• Independent audit: Luharuka & Associates resigned; Shilpi Sharma & Co appointed July 24, 2026.
• Statutory audit report: unmodified; no material qualifications; audit trail issue noted in software.
• Internal controls: adequate; internal audit by Sandeep Jhawar & Associates; reports to Audit Committee.
• Secretarial audit: MR-3 with no qualifications; compliance with applicable laws confirmed.

Related party transactions

• Sale of office premises to related party; aggregate Rs 293.65 Lakh; profit Rs 221.63 Lakh.
• Related party loans outstanding: Rs 1,236.27 Lakh; advances from customer Rs 61.51 Lakh.
• Remuneration to directors: Rs 12.00 Lakh; other related party transactions approved as arm's length.

Outlook & risks for 2026-27

• Transition year ahead; focus on completing preferential issue and implementing new strategy.
• Aim to renegotiate loans on favorable terms; redeploy resources into viable operations.
• Board to monitor execution of resolutions from EGM held in Aug 2026.

Independent Director Appointment

• Appointment approved Sept 7, 2026; Prashant Kumar Jha named Additional Non-executive Independent Director.
• Effective from Sept 7, 2026; five-year term, subject to member approval.
• Professional profile: Chartered Accountant with 8+ years' advisory, assurance, and industry experience.
• Disclosure: No relation between Mr. Jha and other directors.
• Not debarred from director by SEBI or any authority.