Shreenath Paper Products Ltd

AGM details

• AGM held September 26, 2026 at 2:00 PM IST via VC/OAVM.

Ordinary business

• Adoption of audited financial statements and reports; passed with 100% in favor.
• Re-appointment by rotation of a director; passed with 99.98% in favor.

Special business

• Approval of material related party transaction with Sunrise International; promoter votes excluded; approved.

AGM Details

• Date, time and mode: 26 Sep 2026, 2:00 PM IST, via VC/OAVM.
• Quorum: 15 members attended via VC.
• NSDL e-voting window: 23–25 Sep 2026, 9:00 AM–5:00 PM.
• Scrutinizer: M/s Ritul Parmar & Associates, Practicing Company Secretary.
• Venue deemed at registered office; proceedings recorded from there.
• Results to be announced within 2 working days and placed on NSDL/Company website.

Key Resolutions

• Adoption of Audited Standalone Financial Statements and board/auditor reports.
• Re-appointment by rotation of director Aditya Narayandas Daultabadkar.
• Material Related Party Transaction with Sunrise International.

Voting Results

• Adoption of financial statements: results pending.
• Director rotation: results pending.
• Material Related Party Transaction: results pending.

Director Changes

• Director re-appointment by rotation: Aditya Narayandas Daultabadkar.

Material Related Party Transactions

• Material Related Party Transaction with Sunrise International.

Acquisition details

• Target: Shreenath Paper Industries Private Limited, Indian manufacturer and dealer of paper and board products.
• Consideration: ₹2.50 lakh for 25,000 shares at ₹10 each.
• Not a related party transaction.
• Industry: Paper and Board manufacturing.
• Rationale: Increase equity holding; convert SPIPL from associate to subsidiary.
• Regulatory approvals: Nil.
• Date of completion: 24 September 2026.
• Acquisition price per share: ₹10.
• Shares acquired: 25,000; stake increased to 75%.
• Background: SPIPL, Indian private firm in paper products; incorporated 23/06/2026; previously associate.
• Transferor: Mr. Bijoy Ramesh Shah.
• Status after: SPIPL became subsidiary of Shreenath Paper Products.

Shreenath Paper Products Ltd: Trading Window closed from Oct 1, 2026 until 48 hours after the declaration of the unaudited half-year results for the period ended Sept 30, 2026

Acquisition of SPIPL shares; SPIPL to become subsidiary

• Board approved acquisition of 25,000 SPIPL shares from Mr. Bijoy Ramesh Shah at ₹310 per share (₹32,50,000).
• Post-acquisition, Shreenath's stake in SPIPL will rise from 50% to 75%, SPIPL becoming a subsidiary.
• Acquisition is not a related party transaction.
• Subject to completion and registration of transfer under applicable law and SPIPL’s Articles.
• Directors Ronak Harish Parekh and/or Alok Navneetdas Parekh authorized to execute transfer documents and payment.
• Rationale: to increase SPIPL equity holding and convert SPIPL into a subsidiary.
• Regulatory approvals required: Nil.
• Expected completion date: subject to transfer completion and registration.

Financials at a glance

• FY2025-26 total income reached Rs 12,156.83 Lakhs, up from prior year.
• Revenue from operations Rs 11,466.22 Lakhs; PAT Rs 285.54 Lakhs.
• PBT Rs 384.57 Lakhs; PAT Rs 285.54 Lakhs; EPS Rs 1.45.
• Net profit margin 2.49% in FY2025-26.
• Current ratio 2.30; debt-equity 0.60.
• IPO proceeds of Rs 23.36 Cr utilised for working capital.
• Dividend declared for FY2025-26: none.

Product mix and operations

• Sublimation Paper revenue Rs 4,647.31 Lakhs (40.53%).
• Coated Paper Rs 2,377.70 Lakhs; Uncoated Hi-Bright Rs 1,912.99.
• Food Grade Rs 370.94; High-Strength Rs 206.96.
• Total revenue from operations Rs 11,466.22 Lakhs.

Capital structure & liquidity

• Authorized share capital Rs 2,500.00 Lakhs; paid-up Rs 1,965.42 Lakhs.
• Long-term borrowings Rs 308.25 Lakhs; short-term borrowings Rs 2,417.95 Lakhs.
• IPO proceeds Rs 23.36 Crores; utilised for working capital.
• Unutilised escrow balance Rs 1.40 Lakh.
• Listed on BSE SME; Scrip Code 544372.
• Cash and cash equivalents Rs 403.13 Lakhs at year-end.

AGM 2026 & governance

• 15th AGM on 26 September 2026 at 2:00 PM via VC/OAVM.
• Remote e-voting: 23–25 September 2026; cut-off 18 September 2026.
• Board held 10 meetings; Audit Committee 6, Stakeholders 3, NRC 1.
• CFO Navneetdas Parekh re-appointed for 3 years from 11 July 2026.

Related party transactions

• Material related party: Sunrise International; aggregate value up to Rs 30 Crore.
• RPTs represent about 4% of FY25-26 turnover; arm's length terms.
• Contract types include sale, purchase, lease of goods; approvals obtained.
• Audited by Audit Committee; related parties abstain from voting on RPTs.
• RPTs disclosed in Form AOC-2 (Annexure IV).

CSR & sustainability

• CSR applicability not triggered; voluntary Rs 10.60 Lakh donation to Jivan Jyot Foundation.
• CSR Committee exists; CSR policy disclosed; annexed as Annexure I.
• No statutory CSR obligation for FY2025-26.

Audit, controls & risk

• Independent Auditor: S H Dama & Associates; no qualifications.
• Internal auditors: M/s RI Nilange & Co; continued for 2026-27.
• Secretarial audit: Annexure II; no major compliance flags.
• Management asserts adequate internal controls; going concern basis maintained.

Forward-looking & risks

• Industry: sustainability and packaging demand offers long-term opportunities.
• Risks: price competition from imports; input costs; regulatory changes.

Dematerialisation status

• Regulation 74(5) not applicable; the company's shares are fully in demat form.
• No dematerialisation/rematerialisation requests were received during the reporting quarter.

Overview

• Shreenath Paper Industries Private Limited was incorporated as an associate with 50% stake held by Shreenath Paper Products.

Parties

• Shreenath Paper Products Ltd subscribed to 50% of Shreenath Paper Industries Private Limited’s paid-up capital in cash.

Shareholding

• Shreenath Paper Products holds 50% of the associate's paid-up equity.

Key terms

• Shreenath Paper Industries Private Limited became an associate; related party status arises.
• Promoter group has no interest beyond shareholding; initial subscription not treated as RPT.
• Board composition/appointment rights not disclosed.
• Objects include manufacture and deal in paper, boards, and related products.
• No transfer restrictions disclosed.

Financial terms

• Cash consideration paid at face value for 50% stake.
• Authorized capital INR 10,00,000; Paid-up capital INR 10,00,000.
• Turnover not applicable; newly incorporated entity.
• Nature of consideration: cash.

Regulatory / Approvals

• No separate governmental approvals required for subscription.

Related party status

• Related party status arises from associate relationship.
• Transaction not treated as related party transaction at the time of incorporation.