Board Meeting Details
The Board Meeting commenced at 03:30 p.m. and concluded at 04:50 p.m. on Saturday, August 22, 2026.
Key Decisions Approved
1. Re-appointment of Mr. Nikhil P. Desai
- Re-appointed as CEO & Managing Director for a consecutive term of 5 years
- Effective from August 20, 2027 to August 19, 2032
- DIN: 01660649
- Based on recommendation of Nomination and Remuneration Committee
- Subject to approval of shareholders at ensuing Annual General Meeting
- Mr. Desai shall not be liable to retire by rotation
- Profile: Over 20 years of experience across Information Technology, Project Management, Technical Sales, Vendor Management, Team Building, Process Improvement, Business Strategy, Change Management, Marketing and Product Development, with significant exposure to pharmaceutical and chemical industries.
2. Re-appointment of Mr. Santosh M. Kakade
- Re-appointed as Executive Director for a consecutive term of 5 years
- Effective from August 20, 2027 to August 19, 2032
- DIN: 08505234
- Based on recommendation of Nomination and Remuneration Committee
- Subject to approval of shareholders at ensuing Annual General Meeting
- Mr. Kakade shall be liable to retire by rotation
- Profile: More than three decades of diverse experience in Plant Operations, Process Development, Project Management, and General Management.
3. Appointment of Prof. Vandana B. Patravale
- Appointed as Additional Director in the category of Non-Executive Independent Director
- Term of 5 years effective from August 22, 2026
- DIN: 09200693
- Based on recommendation of Nomination and Remuneration Committee
- Subject to approval of shareholders at ensuing Annual General Meeting
- Fulfills independence criteria under Companies Act, 2013 and SEBI LODR Regulations, 2015
- Profile: Senior Professor of Pharmaceutics at Institute of Chemical Technology (ICT), Mumbai with over 35 years of academic, research and industry-oriented experience. Holds B.Pharm., M.Pharm. and Ph.D. degrees from University of Mumbai. Expertise includes Pharmaceutics, Cosmeticology, Validation and Regulatory Affairs, and Advanced Pharmaceutics. Has supervised numerous research projects and contributed to development of novel nanocarriers for cosmeceuticals and applications in malaria, cancer and neurodegenerative disorders. Extensive portfolio of research publications and intellectual property including several Indian and International patents. Recipient of Abdul Kalam National Innovation Fellowship, OPPI Woman Scientist Award, VASVIK Industrial Research Award and UAA-ICT Distinguished Alumnus Award. Played significant role in successful transfer of several Pharmaceutical Technologies.
- Not related to any existing Director of the Company.
4. Alteration of Memorandum of Association
- Board approved alteration of Main Object Clause to broaden scope of Company's activities
- Subject to approval of shareholders at ensuing Annual General Meeting
5. Change in Designation of Mrs. Kanika Rathore
- Designation changed from Vice President Business & Operations to President – Business & Operations
- Effective from August 22, 2026
- Based on recommendation of Nomination and Remuneration Committee
Compliance Confirmations
The company confirmed that Mr. Nikhil P. Desai, Mr. Santosh M. Kakade and Prof. Vandana B. Patravale are not debarred from holding the office of Director by virtue of any order passed by SEBI or any other regulatory authority.