Key Decisions and Approvals

1. Approval of Audited Consolidated Financial Results for FY26

The Board approved the audited consolidated financial results for the half year and financial year ended 31st March, 2026, including consolidated balance sheet, statement of profit and loss, and cash flow statement. The statutory auditors issued an unmodified opinion on these results.

Financial Highlights (₹ in lakhs):

  • Total Income: ₹15,810.43
  • Profit Before Tax: ₹562.18
  • Profit After Tax: ₹451.54
  • Earnings Per Share (Basic & Diluted): ₹4.49
  • Share Capital: ₹1,051.10
  • Reserves and Surplus: ₹4,662.07

Notes:

  • Previous year figures (FY25) were standalone as investment in associate was made on 31st March, 2026
  • Includes share of profit from associate (Damaira Pharmaceuticals Private Limited) of ₹2,970 for one day
  • Trading window to reopen 48 hours after results declaration

2. Approval of Board's Report and Annual Report

The Board approved the Board's Report and Annual Report for FY 2025-26, containing audited financial statements, statutory auditors' report, and other required disclosures under Companies Act, 2013.

3. Director Re-appointment Recommendation

Ms. Pooja Singh (DIN: 10547745) retires by rotation and is recommended for re-appointment as Director at the ensuing Annual General Meeting.

4. Alteration of Memorandum of Association

The Board approved alteration of Object Clause (III(A)) of MOA to include:

  • Manufacturing, formulation, processing, development, refining, import, export, wholesale and retail trading of pharmaceuticals, medicines, healthcare products, nutraceuticals, ayurvedic, herbal and dietary supplement products
  • Marketing, promotion, distribution and sale through retail networks, wholesale trade, institutional sales, franchise arrangements, e-commerce platforms, and digital marketplaces

This requires shareholder approval via special resolution.

5. Incorporation of Subsidiary Companies

The Board approved incorporation and investment in one or more wholly-owned subsidiary companies in India to expand business operations and strengthen presence in various business segments.

6. Annual General Meeting Arrangements

  • 9th AGM Date: 21st August, 2026 at 11:30 AM
  • Venue: Mercure Hotel, Plot No. 51, Near Tribune Chowk, Industrial Area Phase II, Chandigarh-160002
  • E-voting Agency: National Securities Depository Limited (NSDL)
  • Scrutinizer: Mr. Sahil Malhotra (Membership No. A38204 / COP No. 14791)
  • Cut-off date: 14th August, 2026

7. Deferral of Agreement Termination

The Board deferred the implementation of termination of Material Supply & Manufacturing Agreement (01.05.2024) and Distribution, Marketing & Brand License Agreement (01.08.2025) with Astonea One Private Limited. Existing arrangements continue until further notice.

8. Tax Auditor Re-appointment

The Board approved re-appointment of M/s. Avnish Sharma & Associates, Chartered Accountants (Firm Registration No. 009398N) as Tax Auditor for Tax Year 2026-27.

Significant Events and Disclosures

Fire Incident

A major fire occurred on 27th April 2026 in the factory premises, causing substantial damage to building, plant and machinery, stocks, and records. Management estimated loss of ₹9.39 crores, with insurance claim yet to be filed.

Related Party Transactions

The company entered into Distribution, Marketing & Brand License Agreement with Astonea One Private Limited on 01.08.2025:

  • Total sales: ₹41.40 crores
  • Commission paid: ₹15.43 crores
  • Transactions require arm's length pricing assessment

IPO Proceeds Utilization (₹37.66 crores raised)

| Object | Original Allocation | Revised Allocation | Utilized Amount | Unutilized Amount |

| Bolivia registration expenses | ₹1,28,97,000 | ₹75,00,000 | ₹8,34,230 | ₹66,65,770 |

| Plant and machinery | ₹5,23,40,000 | ₹3,00,57,814 | ₹3,00,57,814 | - |

| Advertising and marketing | ₹4,95,15,000 | ₹2,00,15,000 | ₹2,00,15,000 | - |

| Hardware and software | ₹68,38,000 | ₹15,44,825 | ₹15,44,825 | - |

| Working capital | ₹19,75,00,000 | ₹19,75,00,000 | ₹19,75,00,000 | - |

| General corporate purposes | ₹1,98,81,000 | ₹1,98,53,361 | ₹89,85,129 | ₹1,08,68,232 |

| Issue expenses | ₹3,76,79,000 | ₹3,76,79,000 | ₹3,76,79,000 | - |

| Investment in Damaira Pharmaceuticals | - | ₹6,25,00,000 | ₹6,25,00,000 | - |

| Total | ₹37,66,50,000 | ₹37,66,50,000 | ₹35,91,15,998 | ₹1,75,34,002 |

Investment in Associate

On 31st March, 2026, the company acquired 25.74% equity stake (52,00,000 shares) in Damaira Pharmaceuticals Private Limited for ₹625 lakhs.

Accounting Policies

  • Voluntarily adopted Ind AS effective from FY 2026-27
  • Operating in single segment (manufacture and sale of drugs & cosmetics)
  • Internally generated brand development costs capitalized as CWIP (₹3.27 crores including borrowing cost of ₹7.90 lakhs)

Financial Position (Consolidated as at 31st March, 2026)

  • Total Assets: ₹14,626.00 lakhs
  • Total Liabilities: ₹14,626.00 lakhs
  • Long-term Borrowings: ₹2,073.10 lakhs
  • Short-term Borrowings: ₹2,227.31 lakhs
  • Trade Receivables: ₹5,202.84 lakhs
  • Inventories: ₹3,360.89 lakhs
  • Cash and Cash Equivalents: ₹17.91 lakhs

Cash Flow Summary (FY26)

  • Net Cash from Operating Activities: ₹-1,364.81 lakhs
  • Net Cash used in Investing Activities: ₹-1,989.80 lakhs
  • Net Cash from Financing Activities: ₹3,363.70 lakhs
  • Net Change in Cash: ₹9.10 lakhs