Please find enclosed herewith the 43rd Annual Report along with a Notice of 43rd Annual General Meeting for the FY 2024-25.
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TPI India Limited has filed its 43rd Annual Report for FY 2024-25 along with the notice for its 43rd AGM to be held on September 18, 2025 at 12:00 noon via video conferencing. Total income grew 16% to ₹3,021.08 lakhs from ₹2,599.92 lakhs in FY24, but profit after tax declined to ₹35.84 lakhs from ₹46.43 lakhs due to higher expenditure and depreciation. EBITDA dipped slightly to ₹234.92 lakhs. No dividend has been recommended for FY25 as the company reported a marginal loss. The AGM will seek shareholder approval for a material related party transaction with OHM Packagings Private Limited (up to ₹15 crore each for sales and purchases), where relatives of Managing Director Bharat Parekh are directors. E-voting will run from September 15-17, 2025, with the cut-off date set as September 11, 2025.
Mixed signals for shareholders — revenue growth is encouraging, but profitability has weakened and no dividend is being paid. Shareholders should note the significant related party transaction with a promoter-linked entity, which requires their approval at the AGM.