Valplast Technologies Ltd

Dividend record details

• Record Date for entitlement: 08 September 2026.
• Register of Members and transfer books closed: 09–15 September 2026.
• Final dividend for FY ended 31 March 2026, subject to AGM approval.
• Dividend payable within 30 days of declaration, after tax deduction.
• Entitlement based on entries in the register as of close of business on Sep 8, 2026.

Financial highlights

• Revenue from operations: 10235.68 lakh; prior year 6325.12 lakh.
• Total income: 10333.79 lakh.
• Profit before tax: 1357.11 lakh.
• Tax expense: 426.18 lakh.
• Net profit after tax: 930.93 lakh.
• Earnings per share: 5.49.

Capital structure & liquidity

• Equity share capital post-IPO: 1962.79 lakh.
• Short-term borrowings: 1333.43 lakh; long-term borrowings: 705.03 lakh.
• Total borrowings: 2038.46 lakh.
• Cash and cash equivalents: 616.48 lakh.
• Net cash from operating activities: (263.11) lakh.
• Unutilised IPO proceeds: 506.68 lakh.

IPO details & utilisation

• IPO raised gross Rs 2,809.08 lakh via 52,02,000 shares.
• Utilisation: capex 495.00; working capital 1400.00; general corporate 603.18; IPO expenses 310.90.
• Unutilised IPO proceeds: Rs 506.68 lakh.

Dividends & capital returns

• Final dividend of Rs 1 per equity share recommended.
• Dividend is subject to member approval at the AGM.

Operations & growth

• Diversified into tunneling, MEP, waterproofing, across 14 states.
• Cluster-wise teams created to improve execution and financial control.
• Leveraging digital tools and real-time project monitoring.
• expanding into PVC membrane manufacturing and clean energy infra.
• ESG integration and safety remain a priority.

Governance & compliance

• Statutory auditors: KRA & Co; internal: KSAA & Co; secretarial: Surendra Barnwal.
• Independent Director Yatish Kumar Goel appointed Jan 15, 2026.
• Manisha Kide resigned Dec 18, 2025; CFO Devendra Singh resigned Mar 20, 2025.
• Auditors' report indicates no material qualifications.

CSR & ESG

• CSR spend Rs 12.00 lakh; CSR obligation Rs 13.72 lakh; shortfall Rs 1.71 lakh carried forward.
• CSR Committee: Sanjay Kumar (Chairman), Yogesh Jadon, Rajeev Tyagi.
• CSR project with Bhagawan Sri Bala Sai Educational and Charitable.
• CSR disclosures available on valplastech.com.

Risks & outlook

• Risks: project execution delays, cost fluctuations, regulatory changes, working capital pressures.
• Outlook: management optimistic on infra growth and execution efficiency.
• Opportunities: automation, digitalization, energy transition and adjacent EPC segments.
• Government capex focus and private participation to drive demand.

Order details

• Awarding entity: M/s Mosh Varaya Infraprojects Private Limited.
• Scope includes rehabilitation and safety upgrades of tunnels at Kasara, NE Ghat, and DNML/UP ML tunnels.
• Contract value: INR 312.95 crore.
• Domestic entity; no international awarding party.
• Execution period: within 12 months.
• No promoter group interest; not a related-party; arms-length.
• No explicit material impact disclosed.

Issue Overview

• Type: IPO; securities: equity shares.
• Total issue size disclosed; net proceeds not specified; no revision or undersubscription noted.
• Main objects: capital expenditure, working capital, general corporate purpose, and issue expenses.

Utilisation of Proceeds

• Nil utilization in first quarter.
• Special postal ballot reallocated unutilised capex funds to Working Capital and GCP.
• Capital Expenditure: no longer an object; funds reallocated.
• Working Capital: ongoing; end-quarter unutilised balance; allocation revised.
• General Corporate Purpose: ongoing; end-quarter unutilised balance.
• Issue Expenses: utilization completed.
• Unutilised funds invested in fixed deposit; interest earnings noted.

Governance and Compliance

• All statutory approvals related to the objects obtained.
• Special resolution approved reallocating unutilised funds; no major deviation.
• CA certificates and management certificates referenced; limited assurance.
• No material adverse events disclosed affecting viability.

General Corporate Purpose (GCP)

• Nil utilization in first quarter for GCP.
• Board-approved GCP allocations include taxes, advisory fees, and salaries.
• Balance net proceeds planned for GCP within policy; includes strategic initiatives and branding.

Dematerialisation status

• No dematerialisation/rematerialisation requests were received; Regulation 74(5) not applicable as all shares are in demat form.

Resolution

• Special Resolution to revise IPO proceeds utilization from CAPEX to Working Capital and GCP.
• Original CAPEX earmark: INR 4.95 crore; reallocated to Working Capital and GCP.
• Voting results: Assent 1,24,99,943 (96.28%), Dissent 4,82,000 (3.72%).
• Outcome: Passed with requisite majority; postal ballot May 30–June 28, 2026.
• Scrutinizer: Rajat Mishra & Associates; report annexed.
• Impact: Change in IPO fund utilization; may affect CAPEX execution.

Resolution details

• Special resolution to vary IPO proceeds utilization from CAPEX to Working Capital and GCP.
• Change in object of issue per Red Herring Prospectus dated 22 Sep 2025.
• Voting window: May 30–June 28, 2026.
• Outcome: 96.28% assent (1,24,99,943); 3.72% dissent (4,82,000).
• Result: Special resolution passed with requisite majority.
• Shareholder impact: funds redirected to Working Capital and General Corporate Purposes.