Meeting Details

  • Meeting Type: Thirty First Annual General Meeting
  • Date: August 11, 2026
  • Time: 10:00 a.m. to 11:16 a.m. (IST)
  • Location: Conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM)
  • Cut-off Date: August 4, 2026

Proposed Resolutions and Implications

The AGM considered nine resolutions covering ordinary and special business:

Ordinary Business:

1. Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026

2. Adoption of Audited Consolidated Financial Statements for FY ended March 31, 2026

3. Declaration of Final Dividend of ₹1.00 (100%) per equity share

4. Re-appointment of Mr. Pankaj R. Patel (DIN: 00131852) as director retiring by rotation

5. Re-appointment of Mr. Mukesh M. Patel (DIN: 00053892) as director retiring by rotation

Special Business:

6. Ratification of remuneration of ₹1 million plus GST to R. Nanabhoy & Co., Cost Accountants for FY2027

7. Re-appointment of Dr. Sharvil P. Patel (DIN: 00131995) as Managing Director for 5 years (April 1, 2027 to March 31, 2032)

8. Appointment of Mr. Kulin S. Lalbhai (DIN: 05206878) as Independent Director for 5 years

9. Payment of commission to non-executive directors not exceeding 1% of net profits or ₹40 million annually for 5 years

Voting Process and Methods

The voting was conducted through two methods:

  • Remote e-voting: August 8, 2026 (9:00 a.m.) to August 10, 2026 (5:00 p.m.) through CDSL platform
  • E-voting during AGM: Conducted on August 11, 2026 during the meeting

Total shareholders on cut-off date: 406,435

Shareholder participation: 74.99% of total paid-up equity share capital (74,79,96,033 shares)

106 members attended the meeting through VC/OAVM

Key Voting Outcomes

All nine resolutions were passed with requisite majority. Detailed results:

Resolution-wise Results:

Resolution 1 (Standalone Financial Statements):

  • Total votes cast: 917,807,422
  • In favor: 99.9999% (917,807,422 votes)
  • Against: 0.0001% (867 votes)

Resolution 2 (Consolidated Financial Statements):

  • Total votes cast: 917,807,422
  • In favor: 99.9999% (917,807,422 votes)
  • Against: 0.0001% (867 votes)

Resolution 3 (Dividend Declaration):

  • Total votes cast: 918,121,541
  • In favor: 99.9999% (918,121,541 votes)
  • Against: 0.0001% (1,176 votes)

Resolution 4 (Pankaj Patel Re-appointment):

  • Total votes cast: 914,453,229
  • In favor: 99.6349% (914,453,229 votes)
  • Against: 0.3651% (3,350,820 votes)

Resolution 5 (Mukesh Patel Re-appointment):

  • Total votes cast: 906,314,897
  • In favor: 98.7213% (906,314,897 votes)
  • Against: 1.2787% (11,738,815 votes)

Resolution 6 (Cost Auditor Remuneration):

  • Total votes cast: 918,051,482
  • In favor: 99.9997% (918,051,482 votes)
  • Against: 0.0003% (2,310 votes)

Resolution 7 (Sharvil Patel Re-appointment as MD):

  • Total votes cast: 878,190,962
  • In favor: 95.6686% (878,190,962 votes)
  • Against: 4.3314% (39,759,991 votes)

Resolution 8 (Kulin Lalbhai Appointment as Independent Director):

  • Total votes cast: 830,299,534
  • In favor: 90.4413% (830,299,534 votes)
  • Against: 9.5587% (87,754,174 votes)

Resolution 9 (Commission to Non-executive Directors):

  • Total votes cast: 917,821,299
  • In favor: 99.9859% (917,821,299 votes)
  • Against: 0.0141% (128,983 votes)

Participation Breakdown by Shareholder Category

Promoter & Promoter Group:

  • Shares held: 74,827,3673 (74.99%)
  • Votes polled: 99.97% average participation
  • Consistently voted 100% in favor of all resolutions

Public Institutions:

  • Shares held: 18,102,4401 (18.15%)
  • Votes polled: 92.26-92.44% participation
  • Majority in favor except Resolution 8 (47.54% in favor, 52.46% against)

Public Non-Institutions:

  • Shares held: 6,820,5758 (6.84%)
  • Votes polled: 3.87-3.92% participation
  • High approval rates (99.67-99.96%) across most resolutions

Scrutinizer's Role and Findings

Mr. Ashish Doshi, Practicing Company Secretary (ACS/FCS No.: F3544) of SPANJ & ASSOCIATES, was appointed as Scrutinizer. His responsibilities included:

  • Scrutinizing both remote e-voting and e-voting during AGM
  • Verifying votes cast "in favour" or "against" each resolution
  • Relying on reports generated from CDSL's electronic voting system
  • Ensuring votes were unblocked after AGM conclusion in presence of witnesses
  • Submitting consolidated report to the Company

The scrutinizer confirmed:

  • Voting process complied with Companies Act, 2013 and SEBI LODR Regulations
  • Electronic data and records are under safe custody
  • No invalid votes were cast in any resolution
  • Abstentions were recorded for certain resolutions

Compliance Confirmation

The document confirms compliance with:

  • Companies Act, 2013 and Rules thereunder
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA Circulars dated April 8, 2020, April 13, 2020, May 5, 2020, and September 22, 2025
  • Secretarial Standard-2 on General Meetings

Additional Information

The AGM included discussions on various business aspects including capacity expansion, standalone results, shareholding in Assertio, domestic business growth, export turnover, hedge strategy, global biosimilar strategy, debt reduction plans, US pricing pressures, FDA inspections, acquisition plans, R&D spending, and impact of US tariffs.

The results have been submitted to BSE Limited and National Stock Exchange of India Limited as required under regulation 30 of SEBI LODR Regulations.