Penny Stock Under Rs 15 Locked in 5% Upper Circuit: Board Approves Strategic Shifts, New Auditor Appointments, and Virtual AGM September on 6, 2025
DSIJ Intelligence-2Categories: Mindshare, Trending
The stock price is 52 per cent up from its 52-week low.
AVI Polymers Limited announced a series of major resolutions approved by its Board of Directors in the meeting held on September 06, 2025. The updates cover the company’s upcoming Annual General Meeting (AGM), auditor appointments, strategic relocation of its registered office, and significant expansion of its business objectives.
On Friday, AVI Polymers' share price locked in the 5 per cent upper circuit. The stock price is 52 per cent up from its 52-week low.
The company’s 32nd Annual General Meeting will be held virtually on Sunday, September 28, 2025, at 12:00 noon through Video Conference (VC) / Other Audio Visual Means (OAVM). Shareholders will not be required to attend physically. To enable smooth voting, M/s. SCS and Co LLP has been appointed as the Scrutinizer for e-voting. The remote e-voting period will run from September 25, 2025, to September 27, 2025, with eligibility fixed for shareholders holding shares in dematerialised form as of September 21, 2025.
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The Board has proposed the appointment of M/s. S K Bhavsar & Co., Chartered Accountants as Statutory Auditors for a five-year term beginning from the conclusion of the upcoming AGM until the 37th AGM, subject to shareholder approval. The firm specialises in taxation, auditing, assurance, project finance, and investment consultancy. In addition, M/s. SCS & Co. LLP, Ahmedabad, has been approved as Secretarial Auditors for the fiscal years 2025-26 to 2029-30. The appointment complies with the Companies Act, 2013, and SEBI regulations.
The company has approved the relocation of its registered office from Ranchi, Jharkhand, to Ahmedabad, Gujarat. This move will require changes in Clause II of the Memorandum of Association (MoA) and necessary approvals from shareholders and regulators.
The Board also cleared multiple amendments to its Object Clause in the MoA to diversify into agriculture and allied businesses. These include cultivation, processing, storage, and trading of agricultural produce, consultancy in organic farming, hydroponics, and aeroponics, as well as trading in sprayers and spare parts for agriculture. The company also plans to extend advisory services to farmers for financial assistance from institutions such as NABARD and private investors. Additionally, the new scope includes manufacturing and trading of public health products for pest and insect control. These changes will be placed for shareholder approval at the AGM.
To align with the strategic expansion and relocation, the Board has approved the adoption of a new Memorandum of Association and Articles of Association, replacing the existing set, in compliance with the Companies Act, 2013.
These developments underline the company’s intent to diversify operations beyond its current core and tap into new sectors with growth potential. While not directly linked to dividend, bonus, right issue, or Quarterly Results, such structural changes may play a role in shaping the future prospects of this small-cap company.
Disclaimer: The article is for informational purposes only and not investment advice.