Kshitij Polyline Board Approves Rights Issue of Equity Shares Up to Rs. 2,933.74 Lakhs

The Board of Directors of Kshitij Polyline has approved a proposal to issue fully paid-up equity shares through a rights issue. The announcement was made following a board meeting held on May 8, 2026, at the company's registered office. The rights issue is aimed at existing shareholders of the company as of a record date that will be notified in due course. The aggregate amount for which the securities will be issued shall not exceed Rs. 2,933.74 Lakhs. This capital raise initiative is being undertaken in accordance with the provisions of the Companies Act, 2013, the rules made thereunder, the SEBI (ICDR) Regulations, 2018, and other applicable laws.

Details of the Rights Issue

The company provided specific details regarding the securities to be issued. The rights issue will consist of equity shares with a face value of Rs. 2/- each. While the exact ratio and the total number of equity shares to be issued are yet to be finalized, the board has set a cap on the issue size. The relevant details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed in the announcement submitted to the National Stock Exchange of India Limited.

Particulars: Details Type of Securities: Equity Shares of face value of Rs. 2/- each Type of Issuance: Rights Issue of Equity Shares Issue Size: Not exceeding Rs. 2,933.74 Lakhs Number of Securities: Ratio and number to be finalized at a later stage Cancellation or Termination: Not Applicable

Meeting Details

The board meeting commenced at 04.00 P.M. and concluded at 04.40 P.M. on May 8, 2026. The meeting was chaired by Mahendra Kumar Jain, Chairman Director and CFO. The company confirmed that there is no cancellation or termination of any prior proposal related to this issuance. The disclosure was submitted to the National Stock Exchange of India Limited to comply with regulatory requirements under Regulation 30 of SEBI (LODR) Regulations, 2015.

Kshitij Polyline Limited's Board of Directors held a crucial meeting on April 24, 2026, addressing key financial and governance matters for the plastic sheets and films manufacturer. The board convened at the company's registered office in Mumbai to deliberate on important regulatory compliance matters.

Board Approvals and Key Decisions

The board meeting resulted in two significant approvals that demonstrate the company's commitment to regulatory compliance and governance standards. The directors considered and approved multiple matters during the session that lasted from 05:30 P.M. to 8:50 P.M.

Decision Type: Details Financial Results: Audited Financial Results (Standalone and Consolidated) for year ended March 31, 2026 Audit Opinion: Unmodified opinion from M/s. VRCA & Associates Internal Auditor: M/s. Valawat & Associates appointed for FY 2026-2027 Meeting Duration: 05:30 P.M. to 8:50 P.M.

Audited Financial Results Approval

The board approved the audited financial results for both standalone and consolidated statements for the quarter and year ended March 31, 2026. The company's statutory auditors, M/s. VRCA & Associates, issued their audit reports with unmodified opinions, indicating clean financial statements without any qualifications or adverse remarks.

The approval came in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory compliance ensures transparency and maintains investor confidence in the company's financial reporting standards.

Internal Auditor Appointment

The board appointed M/s. Valawat & Associates as the company's internal auditor for the financial year 2026-2027. This appointment strengthens the company's internal control framework and governance structure.

Appointment Details: Information Firm Name: M/s. Valawat & Associates Appointment Type: Internal Auditor Term: Financial Year 2026-2027 Appointment Date: April 24, 2026 Relationship with Directors: No relation

The newly appointed internal auditors bring extensive experience across multiple sectors including NBFC, insurance, chemical industries, education, retail, media, construction, hospitality, technology, and banking sectors. Their expertise spans audit, taxation, company law matters, Central Excise, Custom Laws, Sales tax, and project financing.

Regulatory Compliance

The company maintained its commitment to regulatory compliance by ensuring all decisions were made pursuant to Regulation 30 read with Regulation 33 of the SEBI Listing Regulations. The board meeting outcomes were communicated to the National Stock Exchange of India Ltd in accordance with prescribed disclosure requirements.

Kshitij Polyline Limited operates as a manufacturer of PP, PVC, HIPS/PS, ABS, HDPE sheets and films, PVC profiles, and other stationery items. The company's manufacturing unit is located in Silvassa, while its registered office is situated in Mumbai's Kandivali East area.

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