**Promact Plastics Limited** (formerly known as **Promact Impex Limited**) is an Indian listed entity currently undergoing a fundamental strategic pivot. With a legacy of over **39 years** in industrial manufacturing, the company is transitioning its corporate identity to align with its core polymer-based operations while navigating a complex financial recovery phase. The company is listed on the **BSE Limited** (Scrip Code: **531515**). --- ### **Strategic Rebranding and Corporate Identity Pivot** In October 2025, the company executed a formal name change to **Promact Plastics Limited** (effective **October 13, 2025**). This rebranding is a regulatory and strategic necessity designed to provide a "simple, sharp, and focused" brand image. * **Revenue Alignment:** Under **SEBI Regulation 45(1)**, the company confirmed that at least **50% of its total revenue** in the preceding one-year period was derived from the plastics sector, justifying the name change. * **Leadership Continuity:** To oversee this transition, **Mr. Ankit J. Patel** was elevated to **Managing Director** on **July 17, 2023**, for a **three-year tenure** ending in **July 2026**. * **Governance Strengthening:** The company has appointed **M/s. Nishant Pandya & Associates** as Secretarial Auditors for a **five-year term** (spanning **FY 2025-26 to FY 2029-30**) to ensure long-term regulatory compliance. --- ### **Core Business Segments and Operational Infrastructure** The company operates an integrated model combining manufacturing and global trading, supported by a centralized industrial base in Gujarat. #### **1. Manufacturing Portfolio** The company specializes in polymer-based industrial packaging and molded articles: * **HDPE / PP Woven Bags** and **Fabrics** * **Tarpaulins** * **Molded Articles:** Injection-moulded, blow-moulded, and extruded products. #### **2. International Trading (Import & Export)** Promact maintains a presence in the global procurement and distribution of: * **Agro Commodities:** Food grains, spices, oil seeds, and pulses. * **Minerals and Metals:** Ferrous and non-ferrous materials. * **Chemicals:** Petroleum products, solvents, and industrial chemicals. #### **3. Facility Locations** | Facility Type | Location Details | | :--- | :--- | | **Registered Office** | 12th Floor-1201, City Center-2, Science City Road, Sola, **Ahmedabad**, Gujarat | | **Manufacturing Plant** | Plot No. **392 to 403**, GIDC Estate, Phase-II, Dediyasan, **Mehsana**, Gujarat | --- ### **Expansionary Mandate and Inorganic Growth Strategy** The company has recently expanded its constitutional powers to facilitate aggressive business development through inorganic routes. The Board is now authorized to: * **Acquire and Take Over:** Purchase the assets, liabilities, and goodwill of other firms or companies. * **Asset Acquisition:** Purchase **movable or immovable property** and existing contracts to scale operations. * **Corporate Restructuring:** Promote or incorporate new entities and provide remuneration for services related to **mergers, takeovers, or acquisitions**. --- ### **Financial Performance and Capital Structure** The company is currently in a period of contraction, with management focusing on resource conservation and working capital management. Consequently, **no dividend** was recommended for the fiscal year ended **March 31, 2025**. #### **Three-Year Financial Summary** | Particulars (₹ in Lakhs) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Revenue from Operations** | **91.43** | **178.00** | - | | **Other Income** | **0.20** | **0.50** | - | | **Profit before Interest & Dep.** | **63.32** | **152.00** | - | | **Net Profit (PAT)** | **12.56** | **90.07** | **52.04** | | **Earnings Per Share (EPS)** | - | **1.38** | **0.80** | #### **Capital and Liquidity Profile** * **Share Capital:** Paid-up capital stands at **₹6,51,18,000**, comprising **65,11,800 equity shares** (Face Value **₹10**). * **Debt Status:** The company has **not availed any working capital facilities** from banks as of the latest reporting period. * **Listing Compliance:** Annual listing fees for the **BSE** have been paid through **2025-26**. --- ### **Critical Risk Factors and Recovery Challenges** Investors should note significant headwinds that impact the company’s "Going Concern" status and operational stability. #### **1. Financial and Solvency Risks** * **Negative Net Worth:** Despite marginal improvements, the company has reported a persistent negative net worth for three consecutive years. * **Revenue Cessation:** Auditors have noted the **discontinuation of core activities**, leading to periods of non-generation of operational revenue. * **Legal Contingencies:** A significant sum of **₹4.56 crore** in trade receivables (High Sea Sales) is currently locked in **High Court** litigation. | Metric | Aug 2025 | Aug 2024 | Aug 2023 | | :--- | :--- | :--- | :--- | | **Net Worth** | **(₹1.83 Crore)** | **(₹1.95 Crore)** | **(₹2.85 Crore)** | | **Cash Profit (Pre-Tax)** | **₹21.12 Lakhs** | **₹99.44 Lakhs** | **₹61.81 Lakhs** | #### **2. Market and Macroeconomic Pressures** * **Sector Sensitivity:** Demand is tied to the **Agriculture, Fertilizer, and Cement** industries, which are currently affected by recessionary trends and inconsistent monsoons. * **Trade Barriers:** Indian plastic exports to the **European Union** are currently non-existent due to prohibitive **Anti-Dumping Duties**. * **Input Volatility:** Exposure to raw material price fluctuations is high, compounded by competition from petrochemical giants offering low-cost alternatives. #### **3. Regulatory and Compliance Gaps** * **Key Managerial Personnel (KMP):** The company was in violation of **Section 203 of the Companies Act** and **SEBI Regulation-6** for failing to appoint a **Company Secretary** for over six months (July 2024 – March 2025). * **Audit Qualifications:** Auditors have highlighted that balance confirmations for **debtors, creditors, and loans** are pending reconciliation. Furthermore, disclosures under the **MSMED Act, 2006** remain incomplete as the company is still identifying qualifying suppliers.