Valiant Laboratories 5th AGM Proceedings on Sep 28, 2026

Meeting Details

Date: Monday, September 28, 2026
Time: 11:30 A.M. (IST)
Location: Conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM)
Type of Meeting: Annual General Meeting (AGM)

Attendees

Directors Present:

Mr. Mulesh Savla - Chairman of the Company & Independent Director
Mr. Santosh Vora - Managing Director
Mr. Paresh Shah - Whole Time Director & Chief Financial Officer
Mr. Shantilal Vora - Non-Executive Director
Mr. Sandeep Gupta - Non-Executive Director
Mr. Ashok Chheda - Independent Director
Mr. Akshay Gangurde - Company Secretary

In Attendance:

Mr. Raman Shah, Statutory Auditor, representing M/s. Raman S. Shah & Co.
Mrs. Monali Bhandari, Secretarial Auditor & Scrutinizer, representing M/s. Mehta and Mehta.
Other management representatives and consultants.
38 members attended the AGM through VC/OAVM.

Mrs. Sonal Vira, Independent Director and Chairperson of the Nomination and Remuneration Committee, was unable to attend due to personal exigencies. Mr. Shantilal Vora attended as her authorized representative.

Proceedings and Company Overview

Mr. Akshay Gangurde, Company Secretary, welcomed members and provided instructions. Mr. Mulesh Savla, Chairman, extended a welcome and the Notice of the Meeting and Auditors' Report were taken as read.

Mr. Santosh Vora, Managing Director, presented the Company's performance for FY 2025-26. Key highlights included:

Improved business performance supported by stabilising market conditions in the paracetamol API sector.
Successful completion of a Rights Issue.
Achievement of a debt-free balance sheet.
Commencement of commercial operations at the wholly owned subsidiary, Valiant Advanced Sciences Private Limited.
Focus on backward integration, operational excellence, quality standards, and safety initiatives.
Progress by Valiant Advanced Sciences Private Limited in commercializing products and expanding in specialty chemicals.
Key priorities for FY 2026-27: supporting subsidiary growth, strengthening exports, enhancing operational efficiencies, and pursuing international quality certifications.

Resolutions Transacted

The following 18 items of business were transacted:

Ordinary Business:

1. Item No.1: Ordinary Resolution to receive, consider, and adopt the Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2026, with Reports of the Board of Directors and Auditors.

2. Item No.2: Ordinary Resolution to reappoint Mr. Sandeep Gupta (DIN: 09245060), a Non-Executive Director retiring by rotation.

Special Business:

3. Item No.3: Ordinary Resolution for ratification of remuneration to the Cost Auditors for FY 2026-27.

4. Item No.4: Ordinary Resolution for approval of Material Related Party Transaction(s) with Valiant Organics Limited.

5. Item No.5: Ordinary Resolution for approval of Material Related Party Transaction(s) with Aarti Pharmalabs Limited.

6. Item No.6: Ordinary Resolution for approval of Material Related Party Transaction(s) between Valiant Advanced Sciences Private Limited and Valiant Organics Limited.

7. Item No.7: Ordinary Resolution for approval of Material Related Party Transaction(s) between Valiant Advanced Sciences Private Limited and Aarti Pharmalabs Limited.

8. Item No.8: Ordinary Resolution for approval of Material Related Party Transaction(s) between Valiant Advanced Sciences Private Limited and Alchemie Speciality Chemicals Private Limited.

9. Item No.9: Special Resolution for re-appointment of Mr. Santosh Vora (DIN: 07633923) as Managing Director for 5 years and to fix his remuneration.

10. Item No.10: Special Resolution for re-appointment of Mrs. Sonal Vira (DIN: 09505883) as an Independent Director for a second five-year term.

11. Item No.11: Special Resolution for revision in remuneration of Mr. Paresh Shah (DIN: 08291953), Whole-Time Director and CFO.

12. Item No.12: Special Resolution for continuation of directorship of Mr. Shantilal Vora (DIN: 07633852) as a Non-Executive Non-Independent Director upon attaining 75 years of age.

13. Item No.13: Special Resolution for payment of remuneration by way of commission to Mr. Shantilal Vora (DIN: 07633852), Non-Executive Director.

14. Item No.14: Special Resolution for payment of remuneration by way of commission to Mr. Sandeep Gupta (DIN: 09245060), Non-Executive Director.

15. Item No.15: Special Resolution for payment of remuneration by way of commission to Mr. Mulesh Savla (DIN: 07474847), Independent Director.

16. Item No.16: Special Resolution for payment of remuneration by way of commission to Mrs. Sonal Vira (DIN: 09505883), Independent Director.

17. Item No.17: Special Resolution for payment of remuneration by way of commission to Mr. Ashok Chheda (DIN: 10776571), Independent Director.

18. Item No.18: Special Resolution for shifting the Registered Office of the Company outside the jurisdiction of the existing Registrar of Companies (ROC) within the State of Maharashtra.

Voting Process

The Company provided a remote e-voting facility prior to the AGM and an e-voting facility during the AGM for all resolutions.
The e-voting during the AGM remained open for 30 minutes after the conclusion of the meeting.
M/s. Mehta and Mehta, Practicing Company Secretaries, were appointed as the Scrutinizer to scrutinize the entire voting process.
The document explicitly states that it does not constitute the minutes of the AGM, implying the detailed voting outcomes will be disclosed separately.

Shareholder Interaction

Pre-registered speaker shareholders were invited to express views and queries. Mr. Santosh Vora, Managing Director, responded to the queries and provided necessary clarifications.

Conclusion and Compliance

The meeting was concluded at 12:04 P.M. on September 28, 2026. The proceedings confirm compliance with the provisions of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.