Meeting Details

The 21st Annual General Meeting of the company was held on Monday, August 10, 2026. The meeting was conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM) in compliance with circulars from the Ministry of Corporate Affairs and SEBI. The meeting commenced at 04:30 PM IST and concluded at 05:53 PM IST.

Proposed Resolutions and Implications

The following businesses, as set out in the Notice of the AGM dated July 16, 2026, were proposed and moved at the meeting:

Ordinary Business:

  • Item 1: To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon. (Ordinary Resolution)
  • Item 2: To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2026 and the report of the Auditors thereon. (Ordinary Resolution)

Special Business:

  • Item 3: Dr. Rajamannar Thennati (DIN: 01415412), Director liable to retire by rotation, who does not seek re-election. (Ordinary Resolution)
  • Item 4: Appointment of Mr. Anil Kumar Raghavan (DIN:03548731) as the Managing Director and Chief Executive Officer of the Company. (Special Resolution)

The document confirms that all resolutions were passed with the requisite majority.

Voting Process

The voting process was conducted in two ways:

1. Remote E-Voting: Members could vote remotely via e-voting during the period commencing from Thursday, August 06, 2026 at 09:00 AM till Sunday, August 09, 2026 up to 05:00 PM.

2. E-Voting During Meeting: A facility for voting through an electronic system was provided during the meeting to members who joined via VC/OAVM and had not cast their vote during the remote e-voting period. This facility was available until 15 minutes from the conclusion of the meeting.

Mr. Alpeshkumar Panchal, Partner of KJB & Co LLP, Practicing Company Secretaries, was appointed as the Scrutinizer to scrutinize the voting.

Key Voting Outcomes and Scrutinizer's Report

The detailed voting results from both the remote e-voting and the voting during the meeting were to be combined by the Scrutinizer. The company committed to submitting the combined results to the stock exchanges within two working days from the conclusion of the AGM. The results were also to be placed on the company's website and the website of Central Depository Services (India) Limited, and displayed on the notice boards of the company's registered and corporate offices. The specific vote counts and percentages are not provided in this document; they are to be published separately.

Compliance Statement

The meeting was conducted in compliance with the provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, pursuant to circulars issued by the Ministry of Corporate Affairs and SEBI.

Chairman's Speech Key Highlights

The Chairman's speech provided a strategic and operational update:

  • Industry Context: The global prescription medicines market grew ~10% YoY to nearly US$1.7 trillion. The U.S. FDA approved 46 novel drugs in 2025. The Indian government's PRIP Scheme has an outlay of INR 5,000 crore to promote pharma-medtech innovation.
  • SPARC's Strategic R&D Pillars: 1) Targeted multimodal cancer therapeutics, 2) DNA Damage Response pathway inhibitors, 3) Autoimmune and dermatological disorders.
  • Pipeline Updates:
  • Sezaby: A Paediatric Rare Disease Voucher (PRV) was secured from the USFDA and monetized for US$195 million, strengthening the company's financial position and making it debt-free.
  • SPARC-121/SCD-153: A Phase 1b study in alopecia areata is underway, with interim data expected in FY2026-27. Development is expanding into vitiligo.
  • SPARC-122/SBO-154: A Phase 1a dose-escalation study is enrolling patients; expansion cohorts in breast, lung, and ovarian cancer are planned.
  • PDP-716: Regulatory approval is delayed due to compliance issues at a manufacturing site; remediation and qualification of alternative sites are in progress.
  • Cost Optimization: The company rationalized its U.S. presence, streamlined operations, reduced manpower costs, and consolidated laboratory infrastructure from four sites to two.
  • Board Changes: Gratitude was expressed to outgoing director Dr. Rajamannar Thennati. The appointment of Mr. Anil Raghavan as MD & CEO was proposed for shareholder approval.