Vipul Organics Ltd

Vipul Organics Limited: Trading Window closed from Oct 1, 2026; reopens 48 hours after the declaration of the unaudited standalone and consolidated financial results for the quarter ended 30 September 2026

Award recognition

• Vipul P. Shah, CMD, conferred with Hall of Fame by Manufacturing Today at the 14th Annual Conference 2026.

Financial highlight

• FY2025-26 revenue: Rs. 176.35 crore.

Facilities and footprint

• Manufacturing facilities in Maharashtra and Sayakha, Gujarat; footprint in over 45 countries.

AGM and annual report update

• 54th AGM scheduled Sep 30, 2026, via video conferencing.
• Record date set for Sep 23, 2026.
• E-voting opens Sep 27, 2026 at 09:00 and closes Sep 29, 2026 at 17:00.
• Annual Report for FY2025-26 accessible via web link (web link provided in notice).
• Letters issued to shareholders without registered emails to provide access link.
• Shareholders urged to update email address with RTA/DP.

Meeting Details

• Date and time: Monday, 07 Sep 2026, 04:00–06:30 PM.
• Type/Mode: Group, physical meeting with investors.
• Event/Organizer: Analysts Meeting.
• Venue: Corporate Office, Mumbai.
• Nature: Group meeting with investors.

Participants

• Key company participant: Managing Director.

Purpose

• Purpose: General business overview, operations; Q&A with analysts.

Additional Notes

• No UPSI shared during meeting.
• Presentation available on the company's investor information page.

Key dates and actions

• Purpose of closure: for the 54th Annual General Meeting.
• AGM date and mode: 30 September 2026 at 3:30 p.m. IST via VC/OAVM.
• Book closure: from 24 September 2026 to 30 September 2026 inclusive.
• Record date for dividend: 23 September 2026.
• Dividend: FY ended 31 March 2026 will be paid to shareholders on record date.
• E-voting window: 27 September 2026 9:00 a.m. IST to 29 September 2026 5:00 p.m. IST.

Financial highlights

• Standalone FY26 revenue from operations ₹175.40 crore, up 7.74% YoY.
• Standalone PAT ₹6.92 crore, up 55.63% YoY.
• EBITDA ₹18.20 crore, FY26.
• EPS ₹3.84 for FY26.
• Q4 FY26 revenue ₹52.62 crore; up 19.67% YoY.
• Q4 FY26 PAT ₹1.97 crore.
• Dividend ₹0.80 per share (8%) for FY26.
• Rights issue proceeds ₹20.41 crore; preferential ₹27.54 crore.
• Equity capital post-issues ₹19.05 crore (1,90,54,566 shares).
• Export share approx. 65% of revenue.
• Total employees around 300 as of 31 March 2026.
• ROE at 7.62%; Current ratio 1.48x.
• Debt-Equity ratio improved to 0.45x.

Operational developments

• Sayakha pigment facility commenced operations; capacity >3,600 TPA; output ~1,800 TPA.
• Tarapur pigment operations consolidated into Sayakha; Sayakha becomes multi-product hub.
• AdiMem membrane unit established at Sayakha with four product families: Fluxa, Tubioniq, Arise, Fybrin.
• Automotive intermediates exported; first order secured; exports supported by multi-year qualifications.
• Omya partnership enables SunTone and SunCoat distribution in eight European markets.
• Q4 exit run rate suggests momentum into FY27; Sayakha enables high-performance products.

Capital structure & funding

• Rights issue: 44,37,291 shares at ₹46; ₹20.41 crore raised; oversubscribed.
• Preferential allotment: 13,05,400 shares at ₹211; ₹27.54 crore raised.
• Expansion funded mainly through equity and internal accruals; no material debt against expansion.
• Post-issues equity capital ₹19.05 crore; 1,90,54,566 shares.
• Debt-to-equity ratio improved to 0.45x from 0.71x; ROE remains healthy.

Dividend & AGM

• 54th AGM scheduled for 30 September 2026 via VC/OAVM.
• Dividend recommended ₹0.80 per equity share; record date 23 September 2026.
• Dividend payment to shareholders as per statutory timelines post AGM.

Exports and geography

• Exports accounted for a majority of business; 56 countries served.
• Largest export market is the United States; Omya network expands reach in Europe.
• Global membrane and dye-chemistry opportunities position Vipul for growth.

Governance & risk

• Board of six; independent directors; strong governance framework.
• Related party transactions disclosed; all arm's-length; no material RPT concerns.
• Internal controls robust; no material audit qualifications; secretarial audit noted minor filing delays.
• RPT and internal controls monitored by Audit and Nomination & Remuneration Committees.

CSR and sustainability

• CSR spend ₹10.36 lakh; 2% of average net profit requirement ₹8.79 lakh.
• Excess CSR spend ₹1.57 lakh; carry-forward in next year per governance notes.
• CSR policy, projects disclosed on company website; impact assessments not applicable.

AGM Details

• Date/time: 30 September 2026, 3:30 PM IST.
• Mode: VC/OAVM, no physical venue.
• Deemed venue: Corporate Office, Mumbai.
• Dividend record date: 23 September 2026.
• Register of Members closure: 24–30 September 2026.
• Notice and Annual Report available online.

Ordinary Resolutions

• Adopt Standalone and Consolidated Audited Financial Statements for FY 2025-26.
• Declare dividend on equity shares for FY 2025-26.
• Re-appoint Mihir Vipul Shah as director, retiring by rotation.

Special Resolutions

• Revise remuneration for Mrs. Mita Shah up to ₹3,00,000 per month plus perquisites.
• Revise MD Vipul P. Shah remuneration from 1-Apr-2026 for remaining tenure.
• Revise Mihir V. Shah remuneration as WTD & CFO from 1-Apr-2026.
• Alter MOA to expand main object to membranes, water treatment and related systems.
• Amend ESOP 2022 to extend exercise period to two years.
• Re-appoint Vipul P. Shah as MD for five years to 14-Jun-2032.

Dividend Details

• Dividend: 8% (₹0.80 per share) on equity shares.

Material Related Party Transactions

• RPT: remuneration to Mrs. Mita Shah; approx 0.20% of turnover.

Voting Status

• Voting results not provided in this excerpt.

Q1 FY27 performance

• Revenue ₹51.78 Cr; PAT ₹2.53 Cr, YoY growth +99.7%.
• EBITDA ₹4.99 Cr; margin 9.64%; PBT ₹3.45 Cr.

Sayakha expansion

• August 2026: Sayakha greenfield commenced production; initial capacity 3,600+ MT/year.
• Sayakha capacity ramp to lift group revenue and margins.

Membrane strategy (ADIMEM)

• ADIMEM acquired Aquaporin's membrane platform; in-house RO/NF production.
• Commercial RO/UF sales started Apr 2026; target 25% of group revenue in 3 years.

Financing and governance

• Rights issue ₹20.41 Cr and preferential allotment ₹27.54 Cr completed; total ₹47.95 Cr.
• Funds earmarked for Sayakha capex and membrane diversification; no incremental debt.
• Omya Europe exclusive distribution deal for SunTone/SunCoat across 8 European markets.
• Promoter holding stood at 63.94% as of Jun-2026.