TPI India Ltd

Clarification on unauthorised Telegram messages

• Telegram rumours are unauthorised and not endorsed by the company.
• As of Oct 13, 2026, no unpublished price-sensitive information has been identified.
• The company communicates only via official filings and authorised channels.

AGM Details

• AGM held on 29 September 2026 at 12:00 PM via VC/OAVM.
• Meeting concluded at 12:13 PM.

Resolutions

• Resolution 1 (Ordinary): Adoption of Audited Financial Statements for year ended 31 March 2026.
• Resolution 2 (Ordinary): Re-appointment of Bharat C. Parekh as Director by rotation.
• Resolution 3 (Special): Approval of related party transaction for MD's guarantee commission under Section 188.

Voting results

• All resolutions deemed passed on AGM date.
• Combined results to be announced to stock exchange by 5 October 2026.

Director changes

• Bharat C. Parekh re-appointed as Managing Director.

Auditors

• No changes to auditors; statutory/secretarial reports taken as read.

Material related party transactions

• RPT approved: MD's guarantee commission under Section 188.

TPI India Ltd — Trading window closed from Oct 01, 2026; will open 48 hours after the approval & declaration of the unaudited financial results for the quarter ending September 30, 2026 by the Board of Directors of the Company at their Meeting.

Financial snapshot

• Total income FY26: ₹34.28 Cr, up from ₹30.20 Cr.
• EBITDA: ₹4.36 Cr.
• PAT: ₹2.49 Cr.
• Revenue from operations: ₹34.28 Cr; packaging ₹33.09 Cr; services ₹0.90 Cr.
• EPS: ₹0.58.
• Net worth negative: approx ₹11.70 Cr.

Operations and product mix

• Primary business: polymer-based packaging; no change in lines.
• Integrated FIBC and Kraft packaging capabilities.
• Headcount: 150 employees as of 31 Mar 2026.

Capital structure and liquidity

• Current borrowings ₹10.42 Cr; long-term ₹6.79 Cr; total ₹17.21 Cr.
• Unpaid dividend to IEPF: ₹3.17 Lakh.
• Cash & cash equivalents: ₹0.11 Cr.
• Rights Issue approved up to ₹16 Cr; not pursued.

Dividends and related party

• Dividend not recommended for FY2025-26.
• Related party: Guarantee commission to MD ₹25k/month; max ₹3.0 Lakh/year.

Governance and audit observations

• Board: 4 Directors; MD Bharat Parekh; 2 Independent Directors; 1 Non-Executive Director.
• Auditors flagged going concern risk due to negative net worth.
• Secretarial audit noted unpaid dividend to IEPF; action initiated.
• Internal controls are reported as adequate.

MD&A outlook and risks

• Global/Indian packaging demand expected to improve in medium term.
• Risks: volatile input costs, tariffs, energy/logistics volatility.
• Management focus: cost control and capacity utilization to improve margins.

Financial results and governance actions

• IND-AS standalone unaudited financial results for quarter ended 30 June 2026 approved with Limited Review Report.
• Re-appointed M/s Abhishek Wagh & Associates as Secretarial Auditor for FY2025-26 and FY2026-27.
• Re-appointed Ms. Jigisha Jain, Chartered Accountant, as Internal Auditor for FY2026-27.
• Audit Committee reviewed results; Board recorded them.
• Auditor notes default on term loans: overdue installments Rs 40.89 Lakhs; interest overdue Rs 1.92 Lakhs.
• Going concern basis adopted despite default; net worth eroded.
• Tax expense not recognized Rs 9.83 Lakhs; current tax liabilities understated.
• Actuarial valuation for employee benefits not available; impact to be assessed.

Dematerialisation status

• RTA processed dematerialisation requests (accepted/rejected) and listed on the relevant exchange.
• Physical certificates for dematerialisation mutilated and cancelled after verification.
• Depository name substituted as registered owner within the prescribed timeline.