Key Corrections

  • Gross salary for Ms. Priya Gandhi corrected to ₹10 lakh per month (from erroneously mentioned ₹8.40 lakh per month) in the Explanatory Statement to Item No. 6 of the AGM Notice on page 17
  • Correction only rectifies typographical/clerical error and aligns with Board-approved remuneration terms
  • This corrigendum forms integral part of the original AGM notice

AGM Details

  • 39th Annual General Meeting scheduled for Tuesday, 21 July 2026 at 10:30 AM IST
  • Conducted through Video Conference/Other Audio Visual Means without physical presence
  • Venue deemed to be Registered Office: Village - Meda Adraj, Taluka - Kadi, District - Mehsana, Gujarat 384441

Ordinary Business Items

1. Adoption of audited standalone financial statements for FY ended 31 March 2026 with Board and Auditor reports

2. Adoption of audited consolidated financial statements for FY ended 31 March 2026 with Auditor reports

3. Declaration of dividend at rate of ₹11 per equity share (face value ₹10) for FY 2025-2026

4. Re-appointment of Mr. Sanjiv Gandhi (DIN: 00024548), aged 61 years, as Non-Executive Director retiring by rotation

Special Business Items

5. Ratification of remuneration payable to Cost Auditor Kiran J. Mehta & Co. (Firm Registration No. 000025) for FY 2026-27

  • Remuneration: Up to ₹0.25 million plus GST and reimbursement of out-of-pocket expenses

6. Re-appointment of Ms. Priya Gandhi (DIN: 06998979) as Executive Director for 3 years from 28 October 2026 to 27 October 2029

Financial Performance Highlights (Audited Standalone)

| Particulars | 2025-2026 (₹ million) | 2024-2025 (₹ million) | 2023-2024 (₹ million) |

| Total Income | 2,997.71 | 2,912.30 | 2,894.17 |

| Profit before Depreciation, Finance Cost and Tax | 871.03 | 557.08 | 516.03 |

| Net Profit after Tax | 521.00 | 318.42 | 271.59 |

| Paid-up Share Capital | 85.07 | 85.07 | 85.07 |

| Other Equity | 3,766.75 | 3,305.80 | 3,042.05 |

Director Remuneration Details

Ms. Priya Gandhi (Executive Director)

  • Past remuneration: ₹10.08 million (FY 2025-26), ₹8.13 million (FY 2024-25), ₹5.40 million (FY 2023-24)
  • Proposed remuneration: ₹10 lakh per month gross salary with increments as Board may decide
  • Perquisites include: Housing/HRA (40% of basic), house maintenance, medical reimbursement, insurance covers, travel expenses, club memberships, car with driver, mobile phone
  • Aggregate remuneration shall not exceed limits under Companies Act, 2013

Mr. Sanjiv Gandhi (Non-Executive Director)

  • Remuneration drawn in FY 2025-26: ₹0.18 million (sitting fees only)
  • Holds 697,820 equity shares (8.20% holding)

Dividend Information

  • Record date: Tuesday, 14 July 2026
  • Dividend payment: ₹11 per equity share of ₹10 face value
  • Payment through electronic mode only as per SEBI regulations
  • Unpaid dividend details provided for financial years 2018-19 to 2024-25 with expected transfer dates to IEPF

Tax Deduction at Source (TDS) on Dividend

  • Resident shareholders: 10% TDS if PAN provided, 20% if PAN not provided/valid
  • Non-resident shareholders: 20% TDS plus applicable surcharge and cess
  • Specific exemptions provided for LIC, insurers, mutual funds, government entities, RBI, etc.
  • Cut-off date for TDS determination: 15 July 2026

Voting Arrangements

  • Remote e-voting period: 18 July 2026 (9:00 AM) to 20 July 2026 (5:00 PM)
  • E-voting during AGM available only for members attending through VC/OAVM
  • Detailed instructions provided for shareholders holding shares in both physical and dematerialized form

Corporate Identity

  • Incorporated: 29 April 1987
  • Industry: Manufacturing and marketing veterinary vaccines and health products
  • Commenced production: 1997