Key Resolutions for Approval
The company seeks shareholder approval through postal ballot for two special resolutions:
1. Re-appointment of Mr. Swapnil Jatinbhai Shah (DIN: 05259821) as Managing Director for a term of 3 years from October 15, 2026 to October 14, 2029
2. Re-appointment of Mr. Chetan Bipinchandra Shah (DIN: 10381971) as Whole Time Director for a term of 3 years from November 10, 2026 to November 09, 2029
Postal Ballot Schedule
- Cut-off date: Friday, October 09, 2026
- Dispatch completion: Friday, October 16, 2026
- E-voting period: Monday, October 19, 2026 (09:00 AM IST) to Tuesday, November 17, 2026 (05:00 PM IST)
- Results declaration: On or before Thursday, November 19, 2026
Director Compensation Details
Mr. Swapnil Jatinbhai Shah (Managing Director)
- Annual Salary: ₹7.50 Crores (unchanged from previous appointment)
- Category A Perquisites: Provident Fund contributions, Gratuity, Leave encashment, TDS compliance
- Category B Perquisites: Company car with driver, fuel reimbursement, business expense reimbursement
- Current Shareholding: 35,53,531 equity shares as of March 31, 2026
- Board Meeting Attendance: 6 out of 7 meetings in last year
Mr. Chetan Bipinchandra Shah (Whole Time Director)
- Annual Salary: ₹1.90 Crores (revised from previous ₹1.70 Crores, representing 11.76% increase)
- Category A Perquisites: Provident Fund contributions, ESOP eligibility, Gratuity, Leave encashment, TDS compliance
- Category B Perquisites: Company car with driver, fuel reimbursement, business expense reimbursement, club facility usage
- Current Shareholding: 4,550 equity shares as of March 31, 2026
- Board Meeting Attendance: 7 out of 7 meetings in last year
Director Background and Experience
Mr. Swapnil Jatinbhai Shah
- Age: 41 years
- Experience: 18+ years in pharmaceutical sector
- Qualifications: MBA from Hofstra University, New York; Chemical Engineering degree from Nirma University
- Current Roles: Promoter and Managing Director of Senores Pharmaceuticals; Non-Executive Chairman of Remus Pharmaceuticals Limited (NSE listed)
- Other Directorships: 6 companies including Remus Pharmaceuticals, Renosen Pharmaceuticals, Ratnatris Pharmaceuticals
Mr. Chetan Bipinchandra Shah
- Age: 60 years
- Experience: 30+ years with 25 years in pharmaceutical industry
- Qualifications: Industrial Engineering degree; Post graduate diploma in industrial engineering; Diplomas in HR, labor laws, and industrial management
- Previous Associations: Torrent Pharmaceuticals, Cadila Pharmaceuticals, Reliance Retail, Reliance Fresh
- Other Directorships: 2 companies (Ratnatris Pharmaceuticals, Apnar Pharma)
Company Financial Performance (Standalone)
| Particulars | 2025-2026 | 2024-2025 | 2023-2024 |
| Total Revenue | ₹172.44 Cr | ₹60.53 Cr | ₹40.85 Cr |
| Profit before Depreciation, Fin. Exp. & Tax | ₹47.67 Cr | ₹14.71 Cr | ₹6.78 Cr |
| Net Profit after Tax | ₹20.25 Cr | ₹3.69 Cr | ₹0.81 Cr |
| Paid up Share Capital | ₹46.05 Cr | ₹46.05 Cr | ₹30.51 Cr |
| Reserves & Surplus | ₹703.85 Cr | ₹661.91 Cr | ₹137.61 Cr |
Foreign Subsidiaries and Investments
The company has several foreign subsidiaries:
1. Havix Group Inc. d/b/a Aavis Pharmaceuticals (US manufacturing)
2. Senores Pharmaceuticals, Inc. (wholly owned subsidiary)
3. 9488 Jackson Trail, LLC (subsidiary of Havix)
4. Zoraya Pharmaceuticals, LLC (formed by Senores Pharmaceuticals, Inc.)
5. Amerisyn, LLC (Joint Venture in North Carolina, USA)
Voting Process Details
The company has engaged MUFG Intime India Private Limited as registrar and transfer agent for e-voting facilitation. Mr. Mukesh H. Shah, Practicing Company Secretary (CP No. 2213/Membership No.: FCS 5827) has been appointed as Scrutinizer.
Document Availability
The postal ballot notice is available on company website (www.senorespharma.com), stock exchange websites (NSE, BSE), and MUFG Intime website (https://instavote.linkintime.co.in/Home).
Financial Impact
The remuneration payments to directors represent ongoing operational expenses. No specific quantified financial impact beyond the disclosed remuneration amounts.