Meeting Details

The 21st Annual General Meeting was held on Tuesday, September 29, 2026, at 11:30 A.M. (IST) through Video Conferencing and Other Audio-Visual Means (VC/OAVM). The meeting was deemed to have been conducted at the Registered Office of the Company. The meeting concluded at 12:09 P.M. (IST), lasting 39 minutes.

Attendance and Quorum

51 Members attended the AGM through VC/OAVM. The requisite quorum was present, allowing the meeting to proceed.

Proposed Resolutions and Business Items

The following 15 resolutions were proposed for shareholder approval:

Ordinary Business:

1. Adoption of Audited Standalone and Consolidated Financial Statements for FY 2025-26 - Ordinary Resolution

2. Re-appointment of Shri Nemin M. Savadia (DIN: 00128256) as Director - Ordinary Resolution

3. Re-appointment of Shri Santosh S. Vora (DIN: 07633923) as Director - Ordinary Resolution

Special Business:

4. Ratification of remuneration of Cost Auditor for FY 2026-27 - Ordinary Resolution

5. Shifting of Registered Office within Maharashtra and amendment to MOA - Special Resolution

6. Revision in terms of appointment of Shri Sathiababu K. Kallada (DIN: 02107652) as Managing Director - Special Resolution

7. Re-appointment of Shri Sathiababu K. Kallada (DIN: 02107652) as Managing Director - Special Resolution

8. Revision in terms of appointment of Shri Mahek M. Chheda (DIN: 06763870) as Executive Director - Special Resolution

9. Revision in terms of appointment of Shri Nemin M. Savadia (DIN: 00128256) as Executive Director - Special Resolution

10. Revision in terms of appointment of Shri Siddharth D. Shah (DIN: 07263018) as Executive Director - Special Resolution

11. Approval of Material Related Party Transaction(s) with Aarti Industries Limited - Ordinary Resolution

12. Approval of Material Related Party Transaction(s) with Valiant Laboratories Limited - Ordinary Resolution

13. Approval of Material Related Party Transaction(s) with Alchemie Speciality Chemicals Private Limited - Ordinary Resolution

14. Approval of Material Related Party Transaction(s) with Valiant Advanced Sciences Private Limited - Ordinary Resolution

15. Approval of Material Related Party Transaction(s) with Alchemie Finechem Private Limited - Ordinary Resolution

Voting Process

The Company provided remote e-voting through National Securities Depository Limited (NSDL). The cut-off date for determining voting eligibility was Tuesday, September 22, 2026. The remote e-voting period commenced at 9:00 A.M. (IST) on Friday, September 25, 2026, and ended at 5:00 P.M. (IST) on Monday, September 28, 2026. Members who had not cast votes through remote e-voting were provided the facility to cast votes electronically during the AGM, with e-voting remaining open for 30 minutes after the conclusion of the meeting.

Scrutinizer Appointment

The Company appointed CS Monali Bhandari, Partner of M/s Mehta & Mehta, Practising Company Secretaries, as the Scrutinizer to scrutinize the remote e-voting and e-voting conducted during the AGM in a fair and transparent manner.

Financial Performance Highlights Presented

The Chairperson highlighted the Company's financial performance for FY 2025-26:

  • Revenue from operations: ₹738.38 crore
  • EBITDA: ₹100.80 crore
  • EBITDA margin: 13.65%
  • Profit After Tax: ₹34.36 crore (compared to loss of ₹3.00 crore in previous financial year)

The presentation emphasized focus on improving capacity utilization, operating efficiencies, higher-value products, import-substitution opportunities, and prudent capital allocation.

Compliance Confirmation

The AGM was conducted in accordance with the applicable provisions of the Companies Act, 2013, the Rules made thereunder, the SEBI Listing Regulations, and applicable circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI. The Notice convening the AGM dated August 12, 2026, together with the Annual Report for FY 2025-26, had been sent electronically to Members. The requisite statutory registers and records were made available for electronic inspection by Members.

Additional Information

The meeting included a financial presentation by Shri Mahek M. Chheda, Executive Director and CFO, providing an overview of the Company's manufacturing footprint, key chemistries, product portfolio, and business strengths. One speaker shareholder shared views and raised queries, which were responded to by Shri Parimal H. Desai, Managing Director. The consolidated voting results together with the Scrutinizer's Report were to be submitted separately to the stock exchanges within two working days as required by Regulation 44(3) of the SEBI Listing Regulations.