IG Petrochemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on May 19, 2025.
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IG Petrochemicals' board has recommended a 100% dividend of Rs. 10 per equity share (face value Rs. 10) for FY25, subject to shareholder approval at the upcoming AGM. The board also approved a new project to produce Pyrolysis Oil through chemical recycling of plastic waste, with an estimated investment of around Rs. 16 crores. Additionally, M/s. S M M P & Company was re-appointed as Joint Statutory Auditors and M/s. Makarand M. Joshi & Co. was appointed as Secretarial Auditor, both for a 5-year term ending with the 40th AGM in 2030. The new pyrolysis oil project marks the company's entry into sustainable plastic waste recycling within the chemical industry.
The 100% dividend reflects strong shareholder returns and rewards for FY25. The Rs. 16 crore investment into plastic waste-to-pyrolysis-oil is a modest diversification step into sustainable recycling, which could attract ESG-focused investors but is small relative to overall company size. Overall, the announcement is positive for shareholders with no negative surprises.