Three M Paper Boards Ltd

AGM Details

• Date and time: 29 September 2026, 3:00 PM IST; mode: VC/OAVM.
• Notice and annual report circulated electronically to members.

Key Resolutions

• Ordinary: Adoption of Audited Financial Statements for year ended March 31, 2026.
• Ordinary: Re-appointment of director by rotation.
• Ordinary: Ratification of remuneration payable to Cost Accountants, Mumbai.

Voting Results

• Outcome not disclosed in filing; results to be announced after Scrutinizer's Report.

Director Information

• Director re-appointment by rotation submitted for approval; term as per Companies Act.

Auditor & Remuneration

• Remuneration payable to Cost Auditors ratified.

Promoter stake change

• Promoter Hitendra Dhanji Shah increased voting stake by 2,000 shares.
• Pre-acquisition holding was 91,56,760 shares (47.60%).
• Post-acquisition holding is 91,58,760 shares (47.61%).
• Date of transaction: September 21, 2026.
• Mode: Open Market sell; details in annexure.
• Equity share capital before and after remains at 19,23,73,600 shares.

Promoter shareholding update

• Promoter Hitendra Shah increased equity by 2,000 shares on 21 Sep 2026.
• Post-transaction holding: 91,58,760 shares, 47.61% stake.
• Transaction type: Purchase; Mode: Market; Value: ₹49,100.
• Filed under PIT 7(1)(b); intimation to company on 21 Sep 2026.

Financial performance

• Revenue from operations ₹29,718.61 lakh; up 11.92% YoY.
• EBITDA ₹2,109.86 lakh; margins pressured by input costs.
• PBT ₹646.12 lakh; tax impact ₹-70.86 lakh.
• PAT ₹716.98 lakh; down from ₹999.31 lakh.
• Net profit margin 2.41%; operating margin 4.39%.
• ROE 6.46%; basic/diluted EPS ₹3.73.
• Production 76,983 MT; capacity 108,000 MT; domestic 80%, exports 20%.
• IPO listed on BSE SME on 22 July 2024.
• Dividend not declared for 2025-26.

Operations & capacity

• Installed capacity increased to 108,000 MT p.a. at Chiplun.
• Production rose to 76,983 MT in FY2025-26 from 73,043 MT.
• RDF/MSW boiler commissioned to substitute coal; energy efficiency focus.
• BM Steam & Condensate System, Maglev Vacuum Pump, IBS Turn-Up, Synchrofly Sheeter installed.

Geography and customers

• Domestic sales account for ~80% of revenue; exports ~20%.
• Export incentives amounted to ₹312.27 lakh in FY2025-26.

Capital structure & liquidity

• Share capital ₹1,923.74 lakh; authorised ₹2,500 lakh.
• Reserves ₹9,176.98 lakh; total equity ₹11,100.72 lakh.
• Long-term borrowings ₹2,109.30 lakh; short-term borrowings ₹5,407.32 lakh.
• Current ratio 1.21; debt-equity 0.19.
• Net cash from operations ₹761.09 lakh; investing ₹-1,425.92 lakh; financing ₹663.76 lakh.
• Cash and cash equivalents end year ₹11.99 lakh.

Governance & risk

• Board of 6 directors; KMP: CFO Krunal Waghela; Company Secretary Mittal Mehta.
• Statutory auditors: Piyush Kothari & Associates; unqualified report.
• Internal controls: adequate; no material weaknesses.
• ECB formed 24 Feb 2025; met 6 times; 4 board meetings in FY2025-26.
• Related party: Harsha Rushabh Shah salary ₹8.57 lakh; unsecured KMP borrowings ₹900.04 lakh.
• Secretarial audit: Hemali Shah & Associates; no qualifications.

CSR & sustainability

• CSR expenditure ₹20.50 lakh; required ₹20.37 lakh; excess ₹0.13 lakh carried forward.
• CSR obligation for 2026-27 ₹21.27 lakh.
• CSR policy on company website; focus on healthcare and education.

Outlook and risks

• Medium to long-term packaging and recycled-fibre demand remains constructive.
• Near-term volatility in raw materials, energy, freight, and FX; margins may compress.
• Mitigation: domestic procurement, energy efficiency, better product mix, working-capital discipline.

IPO and corporate history

• IPO completed; listed on BSE SME in July 2024; growth platform.
• Name changed to Three M Paper Boards Limited in 2024; governance improvements.

Meeting Details

• Date: September 5, 2026; time: 2:00 PM; location not disclosed.

Key Agenda Items

• Approve Directors' Report and Secretarial Audit Report for year ended 31 March 2026.
• Approve the Draft Notice of AGM and decide AGM date, time, and venue.
• Appoint Rushabh Hitendra Shah as Director, eligible for re-appointment subject to shareholder approval.
• Fix AGM remote e-voting eligibility cut-off date as September 18, 2026.
• Appoint National Depository Services Limited as e-voting service provider for AGM.
• Appoint Hemali Shah and Associates as Scrutinizer for AGM voting process.

Other Notes

• No trading window closure periods were specified in the filing.

Promoter stake change

• Regulatory disclosure under Regulation 29(2) SEBI Takeovers for promoter acquisition.
• Promoter Rushabh Hitendra Shah acquired 2,000 shares (0.01%) Open Market on Aug 20, 2026.
• Pre-acquisition holding: 14,71,000 shares, 7.65% voting rights.
• Post-acquisition holding: 14,73,000 shares, 7.66% voting rights.
• Total equity base unchanged at 19,23,73,600 shares; no change in diluted capital.
• Acquisition details indicate promoter group involvement; intimation dated Aug 20, 2026.

Promoter shareholding update

• Promoter Rushabh Hitendra Shah filed PIT 7(1)(b) disclosure on 20 Aug 2026.
• Previously held 14,71,000 equity shares, 7.65%.
• Acquired 2,000 additional equity shares on 20 Aug 2026.
• Post-change holding: 14,73,000 shares, 7.66% stake.
• Acquisition mode: Market; Exchange: BSE.
• Intimation to company dated 20 Aug 2026.
• Securities type: Equity Shares.

Promoter shareholding update

• Promoter Hitendra Dhanji Shah acquired 4,000 equity shares.
• Post-transaction holding: 9,156,760 shares, 47.60% of total.
• Mode of acquisition: Market; intimation date: 18/08/2026.

Promoter acquisition under Reg 29(2)

• Promoter Hitendra Dhanji Shah increases voting-right holding by 4,000 shares (0.02%).
• Post-acquisition holding: 91,56,760 shares, 47.60%.
• Pre-acquisition holding: 91,52,760 shares, 47.58%.
• Mode: Open Market; Date: August 18, 2026.
• Equity/diluted share capital unchanged at 19,23,73,600.