Shareholders approve expanded business objects, ESOS exercise period change and MD re-appointment

Shareholders approved 3 resolutions at the 54th AGM (30 Sep 2026): the MOA main object is expanded into membranes, water and wastewater treatment and separation systems.

Mon 5 Oct 2026

Resolutions Approved

3 resolutions at the 54th AGM

AGM Date

30 Sep 2026

ESOS Exercise Period

up to 2 years from vesting (was 3 months)

MD Re-appointment

5 years from June 15, 2027 to June 14, 2032

ESOS Shares Covered

2,00,000 Equity Shares of Rs. 10/- each

Three resolutions were approved by the shareholders at the 54th Annual General Meeting held on Wednesday, September 30, 2026, and the company disclosed this along with the Scrutinizer's report.

Business objects widened

• The Main Object under Clause III(A)(1) of the Memorandum of Association is expanded by inserting additional objects; the existing objects are not altered or deleted. This was approved by Special Resolution.
• The added objects cover membrane products, membrane components, membrane modules and integrated membrane separation systems, including Ultrafiltration (UF), Microfiltration (MF), Nanofiltration (NF), Reverse Osmosis (RO), Forward Osmosis (FO), Membrane Bioreactors (MBR), Electrodialysis (ED/EDR) and gas separation membranes.
• They also cover engineering, procurement, construction, commissioning, operation and maintenance of water treatment plants, wastewater treatment facilities and environmental engineering systems, including Sewage Treatment Plants (STP), Effluent Treatment Plants (ETP), Common Effluent Treatment Plants (CETP), Zero Liquid Discharge (ZLD) systems, desalination plants and water recycling.
• Separate objects cover separation, purification, concentration and recovery systems for process fluids, liquids, gases and air used in pharmaceuticals, biotechnology, food and beverage, chemical processing, petrochemicals, oil and gas and power generation.
• Ancillary equipment and components are also covered, such as high-pressure pumps, pressure vessels, housings, valves, piping, chemical dosing systems, control panels, SCADA and automation software, filtration media, chemicals, antiscalants, cleaning reagents and analytical testing instruments.
• The stated reason is to enable the company to diversify and expand its business operations and to undertake opportunities in membrane technology, water and wastewater treatment, environmental engineering, separation and purification systems and allied equipment.

ESOS 2022 exercise period

• Clause 8.1(a) of the Vipul Organics Limited – Employee Stock Option Scheme, 2022 is amended. The exercise period, decided by the Compensation Committee from time to time, shall not be longer than 2 years from the date of vesting, against not longer than 3 months earlier.
• Options lapse if not exercised within the specified exercise period, subject to the terms of the Scheme.
• Total number of shares covered under the options: 2,00,000 (Two Lakh) Equity Shares of Rs. 10/- each.
• The disclosure states no options were granted, vested, exercised or lapsed as part of this amendment, and there is no cancellation or exercise of options as part of it. The company states the amendment is not prejudicial to the interests of the option holders. Shareholders approved it by Special Resolution.

Managing Director re-appointment

• Mr. Vipul P. Shah (DIN: 00181636) is re-appointed as Managing Director for a further term of 5 (five) years, with effect from June 15, 2027 up to June 14, 2032.
• He is a Chemical Engineer with around 37 years of experience in the chemical dyestuff and pharmaceutical industry, and has been associated with the company for more than two decades.
• He is the father of Mr. Mihir V. Shah, Whole Time Director and Chief Financial Officer of the company.
• The disclosure states he is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority.

What this changes

• The objects clause now formally permits a wider set of businesses alongside the existing chemicals business.
• The ESOS amendment gives employees a longer window to exercise vested options.
• The Managing Director's term continues from June 2027 to June 2032.

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