R M Drip and Sprinklers Systems Ltd

AGM Details

• Held via VC/OAVM at 2:00 PM IST.
• Quorum present; proxies not applicable due to VC/OAVM.
• Notice and annual report circulated; meeting commenced at 2:04 PM.

Ordinary Resolutions

• Adoption of standalone and consolidated financial statements.
• Declaration of final dividend per share.
• Re-appointment of managing director on rotation.

Voting & Results

• Voting conducted by remote e-voting; results to be submitted to exchanges.
• Outcome of resolutions not disclosed in filing.

R M Drip and Sprinklers Systems Ltd trading window closed from 1st October, 2026 till 48 hours after the declaration of the Un-Audited Financial Results of the Company for the quarter and half year ended 30th September, 2026

Financial performance

• Standalone revenue from operations: ₹19,742.39 lakh, up 51.74% YoY from ₹13,011.00 lakh.
• Consolidated revenue from operations: ₹19,738.25 lakh, up 50.72% YoY.
• Standalone PBT: ₹4,790.56 lakh, up ~49.16% YoY.
• Standalone PAT: ₹3,521.54 lakh, up ~47.30% YoY.
• Consolidated PAT: ₹3,491.51 lakh; attributable to owners ₹3,493.96 lakh and Non-Controlling Interest ₹−2.46 lakh.
• Total comprehensive income: Standalone ₹3,526.73 lakh; Consolidated ₹3,496.69 lakh.
• EPS (Basic): Standalone ₹1.41; Consolidated ₹1.40.
• Dividend final ₹0.03 per share; aggregate ₹1.28 crore if approved.
• Bonus issue: 17.84 crore shares; post-bonus paid-up capital ₹42.82 crore.
• Share split: 10 for 1; from ₹10 to ₹1 face value.

Capital structure & dividends

• Authorized share capital ₹50 crore; issued & paid-up ₹24.98 crore before bonus.
• Post-bonus paid-up capital ₹42.82 crore (₹1 par value).
• Total borrowings ₹5,281.34 lakh; long-term ₹3,528.83 lakh; short-term ₹1,752.51 lakh.
• Net debt to equity ratio stood at 0.48 (standalone).
• Migration of NSE/NSE SME to Main Board approved; listing migration completed July 30, 2025.
• Cash & cash equivalents ₹62.27 lakh; net debt ₹5,364.86 lakh (approx) after adjustments.
• Dividend policy: Final dividend proposed ₹0.03 per share; payment within 30 days of declaration.

Governance & audit

• Directors: Atharva Nivrutti Kedar appointed Managing Director w.e.f. 29-Jan-2026; Nivrutti Pandurang Kedar redesignated as Chairperson (non-exec).
• Neha Karekar Pramod appointed as Independent Woman Director w.e.f. 29-Jan-2026; Kavita Pandare resigned 29-Jan-2026.
• Board meetings: 10 during the year; governance alignment with SEBI/LodR requirements.
• Statutory auditors: Bilimoria Mehta & Co; Secretarial auditor: CS Nuren Lodaya & Associates.
• SOP fines paid: ₹1.15 lakh from BSE/NSE for delays in Q1-2025 results and AGM notice upload.
• Internal control environment is described as robust; no material qualifications in standalone audit; CSR/Related Party disclosures maintained.

Subsidiaries & group structure

• Tuljai Agro Chemicals Private Limited remained a subsidiary at 66.69% as of 31-Mar-2026; previously 51.20% then associate mid-2025; reclassified to subsidiary again Oct 2025.
• Brahmanand Pipes Private Limited became a wholly owned subsidiary on 28-Jan-2026.
• Consolidation methodology: line-by-line up to Jun 28, 2025; equity method 29 Jun–12 Oct 2025; then again line-by-line from 13-Oct-2025.
• Two material subsidiaries: Tuljai Agro Chemicals and Brahmanand Pipes; none are regarded as material subsidiaries under SEBI LODR.

CSR & sustainability

• CSR spend ₹21.56 lakh for FY2025-26; shortfall ₹4.68 lakh; ₹4.67 lakh transferred to PM CARES Fund.
• CSR committee composed of Nivrutti P. Kedar (Chair), Atharva N. Kedar (Member), Mayur Bhatt (Member).
• CSR policy available at company site; impact assessment not applicable for ongoing projects.

Management changes & risk

• MD appointment changed: Atharva N. Kedar appointed MD from 29-Jan-2026; previous MD changed to Non-Executive by board action.
• Independent Director Neha Karekar Pramod appointed; Kavita Pandare resigned.
• Secretarial audit flagged two issues: delays in quarter results submission and AGM notice/upload; management corrective actions noted.
• Risk management framework described in MD&A; key risks include subsidies, monsoons, commodity prices, and competition.

Outlook & strategic developments

• Outlook highlights growing irrigation demand; micro-irrigation to expand with PM schemes; government subsidies as a key factor.
• Company aims to expand into HDPE pipe manufacturing for Jal Jeevan Mission (FY plans).
• Expansion into new geographies (Madhya Pradesh, Uttar Pradesh, Tripura); strengthening marketing to improve penetration.

Dividend details

• Dividend type: final dividend.
• Amount: ₹0.03 per equity share.
• Face value: ₹1 per share.
• Subject to shareholders' approval at the AGM.
• Financial year: FY ended 31 March 2026.

Record date details

• Record date: 23 September 2026 for AGM e-voting and dividend entitlement.
• Security: Equity shares of Rs. 1 each.
• Purpose: Entitlement to final dividend and AGM e-voting eligibility.
• Dividend timing: Payable within 30 days of shareholder approval.
• Conditions: Dividend subject to shareholder approval.
• Beneficial owner basis: Based on NSDL/CDSL list for electronic holdings.

AGM Details

• AGM date and time: 30 September 2026 at 2:00 PM IST, via VC/OAVM.
• Record date for dividend entitlement: 23 September 2026.
• Venue deemed at registered office; attendance via VC/OAVM only.
• Register of Members closed from 24 September 2026 to 30 September 2026.

Key Resolutions

• Adopt audited financial statements and reports for year ended 31 March 2026.
• Declare a final dividend of ₹0.05 per equity share.
• Re-appoint Atharva Nivrutti Kedar as Managing Director on rotation.

Dividend Details

• If approved, final dividend paid by 23 October 2026.
• Record date for entitlement: 23 September 2026.
• Dividend payable after tax deduction at source.

Director Changes

• Atharva Nivrutti Kedar seeks re-appointment as Managing Director.

Governance actions

• Approved draft Directors' Report and annexures for FY ended 31 March 2026.
• Approved draft AGM Notice for FY ended 31 March 2026.
• Approved AGM on 30 September 2026 via VC/OAVM.
• Fixed Book Closure from 24 Sep 2026 to 30 Sep 2026.
• Fixed 23 September 2026 as cut-off date for AGM eligibility.
• Appointed M/s Nuren Lodaya & Associates as AGM Scrutinizer.