Prima Plastics names Dilip Parekh chairman and managing director

Prima Plastics Limited redesignated Dilip Manharlal Parekh as chairman and managing director on November 6, 2026, after Bhaskar Manharlal Parekh resigned, and simultaneously appointed Shriya Vedant Chaudhary and Hitendra Bhupatrai Bhalaria as additional directors for proposed five-year terms subject to shareholder approval.

What changed in Prima Plastics’ leadership on November 6, 2026?

Prima Plastics changed its senior board structure on November 6, 2026, when Bhaskar Manharlal Parekh resigned as chairman and whole-time director for personal reasons, effective at the close of business hours. Dilip Manharlal Parekh, previously managing director, was redesignated chairman and managing director with the board’s approval.

The change combines the chairman and managing director positions under Dilip Parekh. Prima Plastics did not disclose a transition period, a separate chief executive role or a replacement for Bhaskar Parekh beyond Dilip Parekh’s redesignation at the board meeting held on November 6, 2026.

The leadership actions formed part of a wider board agenda that also included approval of unaudited standalone and consolidated results for the quarter and six months ended September 30, 2026. The meeting began at 12:55 Indian Standard Time and concluded at 13:35 Indian Standard Time on November 6, 2026.

Who are Prima Plastics’ newly appointed directors?

Prima Plastics appointed Shriya Vedant Chaudhary as an additional director designated as whole-time director from November 6, 2026. Her proposed five consecutive-year term runs until the 37th annual general meeting, is subject to shareholder approval, and is liable to retirement by rotation.

Shriya Chaudhary has been Prima Plastics’ business development manager since 2019, according to the filing. The company said her work has included digitising operations, developing digital marketing, establishing an e-commerce presence, identifying business opportunities and directing new-product development across Prima entities.

The filing also identifies Shriya Chaudhary as Dilip Parekh’s daughter. Prima Plastics said she will continue work in strategic business development, product innovation and market expansion in the whole-time director role, reflecting the company’s stated plans rather than a quantified target or timetable.

Hitendra Bhupatrai Bhalaria was appointed as an additional director designated as non-executive independent director from November 6, 2026. His proposed five-year term also runs until the 37th annual general meeting and needs shareholder approval, but he is not liable to retire by rotation.

Prima Plastics disclosed that Bhalaria is not related to any director. His profile cites more than 30 years as a committee member across major stainless-steel associations and says the BHALARIA Group has turnover of Rs 188 crore and customers in 88 countries.

How did Prima Plastics reconstitute its board committees?

Prima Plastics reconstituted three committees on November 6, 2026, following the two appointments and Bhaskar Parekh’s resignation. The nomination and remuneration committee now has four members, chaired by Snehal N. Muzoomdar, with Bhalaria, Shaileshkumar S. Shah and Daxa J. Baxi as members.

The stakeholders’ relationship committee now has five members, compared with the nomination and remuneration committee’s four. Daxa J. Baxi is chairperson, while Bhalaria, Dilip Parekh, Muzoomdar and Shriya Chaudhary are members, replacing Bhaskar Parekh’s presence after his November 6, 2026 cessation.

The corporate social responsibility committee now has three members: Shaileshkumar S. Shah as chairperson, alongside Dilip Parekh and Daxa J. Baxi. Prima Plastics said it remains exclusively engaged in plastic articles and related products and has no reportable operating segments under Indian Accounting Standard 108.

What do Prima Plastics’ latest financial results show?

Prima Plastics reported consolidated revenue from operations of Rs 77.66 crore for the six months ended September 30, 2026, up from Rs 69.59 crore in the corresponding six months of 2025. Profit before tax from continuing operations rose to Rs 13.92 crore from Rs 11.07 crore, while profit after tax from continuing operations fell to Rs 6.57 crore from Rs 8.35 crore.

The difference between the increase in pre-tax profit and the decline in continuing-operations profit after tax coincided with tax expense increasing to Rs 7.30 crore from Rs 2.72 crore. Before the joint venture’s share of profit, continuing-operations profit was Rs 9.27 crore for the six months ended September 30, 2026, compared with Rs 7.12 crore a year earlier.

In the three months ended September 30, 2026, consolidated revenue was Rs 37.56 crore, below Rs 40.11 crore in the preceding June 2026 quarter but above Rs 34.77 crore in the September 2025 quarter. Quarterly continuing-operations profit after tax was Rs 3.12 crore, versus Rs 3.45 crore in June 2026 and Rs 4.24 crore a year earlier.

The comparison with prior periods is affected by the demerger of the rotational moulding business. The National Company Law Tribunal sanctioned the arrangement on March 16, 2026, and Prima Plastics said the business was demerged effective March 31, 2026, with July 1, 2024 as the appointed date; prior figures were presented as discontinued operations.

What approvals are still required for Prima Plastics’ board changes?

Prima Plastics still needs shareholder approval for Shriya Chaudhary’s and Bhalaria’s appointments, both of which were made as additional-director appointments on November 6, 2026. The board approved a postal ballot notice covering the two proposed five-year appointments.

The company said the postal ballot notice will be circulated within prescribed timelines and disclosed to stock exchanges on the dispatch date. The filing does not provide a voting date, remuneration terms for either appointment, or the date of the 37th annual general meeting.

The shareholder process is therefore the next disclosed formal step for the two appointments. Bhalaria’s independent-director term and Shriya Chaudhary’s whole-time-director term would each extend for five consecutive years from November 6, 2026, if shareholders approve them.

Conclusion

Prima Plastics has placed the chairmanship and managing directorship with Dilip Parekh following Bhaskar Parekh’s November 6, 2026 resignation, while also proposing a whole-time director appointment for Shriya Chaudhary and an independent-director appointment for Bhalaria. The changes extend across three committees, making the announcement a broader board and governance transition.

The next disclosed event to watch is the postal ballot notice and subsequent shareholder decision on the two five-year appointments. Subsequent financial disclosures will also show the continuing effect of the March 31, 2026 rotational moulding demerger, after which prior-period figures were re-presented as discontinued operations.