Annual Report for the Financial Year ended 2024-25 along with Notice of 08th Annual General Meeting
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AIK Pipes and Polymers Ltd has filed its Annual Report for FY 2024-25 along with the notice for its 8th AGM, scheduled for 29th September 2025 at 2:00 PM via video conferencing. The company manufactures HDPE, MDPE, and PPR pipes used in water, gas, telecom, and agriculture sectors, and launched a new agri-irrigation brand 'BANAS' during the year. Financial performance weakened sharply: revenue from operations fell to Rs. 2,509.70 lakhs from Rs. 3,727.25 lakhs (~33% decline), and net profit dropped to Rs. 127.65 lakhs from Rs. 341.16 lakhs (~63% decline), with EPS falling to Rs. 2.01 from Rs. 6.69. The Board has skipped dividend to preserve working capital, confirmed full utilization of IPO proceeds (Rs. 1,502.32 lakhs), and proposes the appointment of M/s H Khandelwal & Associates as Secretarial Auditor for a 5-year term at Rs. 2.40 lakhs per year.
Shareholders should note a significant year-on-year decline in both revenue and profitability with no dividend payout this year, though management highlights new product launches and growth plans. The AGM will also consider re-appointment of director Ajayraj Singh Khangarot with a higher proposed remuneration (Rs. 8L to Rs. 12L p.a.), which shareholders may review before voting.