Key Financial Figures (FY 2025-26)

  • Revenue from Operations: ₹3,360.31 lakhs (110% YoY growth from ₹1,600.18 lakhs in FY25)
  • Other Income: ₹11.24 lakhs
  • Total Income: ₹3,371.55 lakhs
  • Total Expenditure: ₹2,750.42 lakhs
  • Profit Before Tax: ₹621.13 lakhs
  • Tax Expenses: ₹114.30 lakhs
  • Profit After Tax: ₹506.83 lakhs (102.8% YoY growth from ₹250.09 lakhs)
  • EPS: ₹9.35 (Basic and Diluted)
  • EBITDA: ₹700.59 lakhs (87.94% YoY growth)
  • EBITDA Margin: 20.85%

Capital Structure Changes

  • Authorized Share Capital: Increased from ₹6.00 crore to ₹8.00 crore
  • Paid-up Capital: Increased from ₹48.70 lakhs to ₹724.00 lakhs through:
  • Rights Issue: 45,000 equity shares at ₹130 per share (₹120 premium) aggregating ₹58.50 lakhs
  • Bonus Issue: 47,88,000 equity shares in 9:1 ratio
  • IPO: 19,20,000 equity shares at ₹129 per share (₹119 premium) aggregating ₹2,476.80 lakhs

IPO Details (February 2026)

  • Fresh issue of 19.20 lakh equity shares of face value ₹10 each
  • Price band: ₹122-₹129 per share
  • Final issue price: ₹129 per share
  • Listing: BSE SME on 04 February 2026 at approximately 50% premium
  • Lead Manager: Sobhagya Capital Options Private Limited
  • Registrar: KFin Technologies Limited
  • Objects: Automation of manufacturing facility, new manufacturing setup, working capital requirements, general corporate purposes
  • IPO proceeds utilization: ₹1,821.32 lakhs utilized, ₹655.48 lakhs unutilized (kept in short-term fixed deposits)

Operational Highlights

  • Product Portfolio: 200+ formulations across tablets, capsules, oral liquids, external preparations, powders, oils
  • Installed Capacity: 71.645 million units across various dosage forms
  • Manufacturing Facility: Sanand, Ahmedabad, Gujarat (10,763 sq. ft built-up area)
  • Certifications: WHO-GMP, GMP, FSSC 22000, ISO 9001:2015, ISO 45001:2018, FSSAI License, Halal Certification
  • Business Model: CDMO (Contract Development and Manufacturing Organization) and direct sales
  • Workforce: 24 employees as of 31 March 2026 (increased from 17 in FY25)
  • Export Revenue: ₹11.95 lakhs (down from ₹54.01 lakhs in FY25)

Product-wise Revenue Mix (₹ in Crores)

  • Tablets: ₹15.52 (46.19%)
  • Capsules: ₹7.18 (21.37%)
  • Oral Liquids: ₹3.57 (10.63%)
  • External Preparation: ₹11.07 (32.95%)
  • Oral Powders/Churans: ₹4.56 (13.57%)
  • Oils: ₹2.02 (6.00%)
  • Total: ₹33.60

Corporate Actions and Events

  • Conversion: From Private Limited to Public Limited on 02 May 2025
  • Rights Issue: 45,000 equity shares completed on 06 September 2025
  • Bonus Issue: 47,88,000 equity shares issued on 10 September 2025 in 9:1 ratio
  • Director Appointments:
  • CS Payal Kotadiya as Company Secretary and Compliance Officer (w.e.f. 06 September 2025)
  • Mr. Chand Rameshbhai Kanabar as Independent Director (w.e.f. 08 May 2026)
  • Ms. Grishma A Shewale as Independent Director (w.e.f. 08 May 2026)
  • Director Resignations:
  • Mr. Arun Dash (Independent Director, w.e.f. 08 May 2026)
  • Mr. Mahipal Singh Chouhan (Independent Director, w.e.f. 08 May 2026)

AGM Details

  • Date: Thursday, 27th August, 2026 at 02:00 PM
  • Mode: Video Conferencing/Other Audio Visual Means
  • Cut-off date: 20th August, 2026
  • Remote e-voting: 24th August 2026 (9:00 AM) to 26th August 2026 (5:00 PM)
  • E-voting agency: CDSL
  • Business to be transacted: Ordinary business and special resolutions including appointment of independent directors and revision of managerial remuneration

Board Composition and Meetings

  • Board Strength: 9 Directors (including 4 Independent Directors)
  • Board Meetings: 21 meetings held during FY 2025-26
  • Committee Meetings:
  • Audit Committee: 4 meetings
  • Nomination and Remuneration Committee: 2 meetings
  • Stakeholders' Relationship Committee: 1 meeting

Dividend and Reserves

  • No dividend recommended for FY 2025-26
  • No amount transferred to General Reserves
  • Reserves and Surplus: ₹2,823.32 lakhs (including Securities Premium of ₹2,284.80 lakhs)

Related Party Transactions

All related party transactions were conducted at arm's length and in ordinary course of business. Key transactions included:

  • Sales to Accretion Pharmaceuticals Limited: ₹57.18 lakhs
  • Purchases from Accretion Inc: ₹80.21 lakhs
  • Director remuneration revisions proposed for approval

Risk Factors Identified

  • Regulatory and compliance risk in nutraceutical industry
  • Raw material sourcing and supply chain risk
  • Operational risk related to manufacturing interruptions
  • Financial risk including working capital management
  • Reputational risk related to product quality and safety

Corporate Governance

The company has established various committees including Audit Committee, Nomination and Remuneration Committee, Stakeholders' Relationship Committee, and Corporate Social Responsibility Committee. The company follows applicable secretarial standards and has implemented vigil mechanism/whistle blower policy.

Forward-looking Statements

The document contains forward-looking statements based on current expectations and assumptions about future events. Actual results may differ materially due to changes in government regulations, tax laws, economic developments, and other factors.