PIL Italica Lifestyle Limited, a key player in India's plastic furniture and lifestyle product segment, successfully conducted its 33rd Annual General Meeting (AGM) on Friday, June 27, 2025, via Video Conferencing (VC) and Other Audio Visual Means (OAVM), alongside a physical presence at its registered office in Udaipur, Rajasthan. The meeting commenced at 11:00 A.M. IST and concluded at 11:54 A.M. IST, with full compliance under SEBI (LODR) Regulations, 2015, and relevant MCA and SEBI circulars.

The Company showcased significant financial and strategic developments, most notably the announcement of crossing ₹100 crore in revenue for the first time in its operational history, marking a key milestone in its corporate journey.

Key Highlights from the AGM Proceedings:

The meeting was presided over by Mr. Daud Ali, the Chairperson and Managing Director, who was joined by a full quorum of Board members and senior executives, including:

• Mr. Narendra Bhanawat – Whole Time Director & CFO

• Mr. Mukesh Kothari – Non-Executive Non-Independent Director

• Ms. Apeksha Agiwal – Chairperson of Audit, NRC, SRC & Risk Management Committees

• Mrs. Sonal Mantri and Mr. Himanshu S. Gupta – Independent Directors

• Mr. Rajendra Kumar Heda – Sr. VP (Operations)

• Mr. Rajat Raja Kothari – Company Secretary & Compliance Officer

• Mr. Manoj Jain – Statutory Auditor

• Mr. Pawan Talesara – Secretarial Auditor

• Mr. Ashok Modi – Scrutinizer for e-voting

Operational and Strategic Announcements:

During the address to shareholders, Mr. Daud Ali made several important announcements:

• The Company achieved ₹100 crore in revenue for FY 2024-25.

• It is initiating a capital investment of ₹25 crore in its Udaipur and Silvassa facilities.

• This investment focuses on installing advanced injection moulding machines and high-precision tooling systems.

• Production capacity will be enhanced by 1,600 MTPA, scaling from 8,450 MTPA to 10,050 MTPA.

• The expansion is expected to be completed by March 2026, aligning with the Company’s long-term growth roadmap.

• Currently, the Company has a nationwide presence via 11 fulfillment centres, and aims to strengthen its market reach through strategic investments and collaborations.

Resolutions Passed During the AGM:

Shareholders considered and approved the following key resolutions, all passed as Ordinary Resolutions:

1. Adoption of Audited Financial Statements for FY ended March 31, 2025, along with the Board’s Report and Auditor’s Report.

2. Reappointment of Mr. Mukesh Kumar Kothari (DIN: 03103336), a director liable to retire by rotation.

3. Appointment of Secretarial Auditor for a five-year term starting from FY 2025–26.

Shareholder Engagement and E-Voting Process:

The AGM saw active participation with 55 members in attendance, some of whom had pre-registered as speakers and raised pertinent queries, all of which were answered satisfactorily by the Board.

Voting was facilitated through remote e-voting and e-voting during the AGM via CDSL’s secure platform. The remote e-voting period was conducted from Tuesday, June 24, 2025, at 9:00 a.m. to Thursday, June 26, 2025, at 5:00 p.m. Members who had not exercised their vote earlier were allowed to vote during the AGM.

The Company Secretary informed attendees that Mr. Ashok Modi, Chartered Accountant, was appointed as the Scrutinizer, and the voting results for each item will be declared within two working days. These will also be made available on the stock exchanges and the Company’s official website.

Compliance and Corporate Governance:

The AGM was conducted in full compliance with the applicable provisions of:

• Companies Act, 2013

• SEBI (LODR) Regulations, 2015

• Circulars issued by SEBI and Ministry of Corporate Affairs

• Guidelines enabling VC/OAVM participation amid evolving corporate governance best practices

The meeting concluded with a vote of thanks from the Company Secretary, appreciating the continued support and active participation of shareholders.

Conclusion:

The 33rd AGM of PIL Italica Lifestyle Limited marks an important chapter in its growth story. With record-breaking revenue performance, a structured expansion strategy, and robust governance practices, the Company reaffirmed its commitment to value creation for all stakeholders.

As it gears up to enhance its capacity and operational efficiency, shareholders can expect a stronger and more resilient PIL Italica in the years ahead.

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