Financial Performance Highlights (FY2025-26)

Income Statement:

  • Revenue from Operations: ₹10,122.00 lakhs (FY25: ₹10,019.39 lakhs) - growth of 3.6%
  • Other Income: ₹519.40 lakhs (FY25: ₹252.60 lakhs)
  • Total Income: ₹10,641.40 lakhs (FY25: ₹10,271.99 lakhs)
  • Profit before Depreciation & Tax: ₹3,935.00 lakhs (FY25: ₹3,565.28 lakhs)
  • Depreciation & amortization: ₹204.80 lakhs (FY25: ₹138.20 lakhs)
  • Profit for the year: ₹3,730.20 lakhs (FY25: ₹3,427.08 lakhs)
  • Tax Expenses:
  • Current Tax: ₹972.00 lakhs (FY25: ₹886.40 lakhs)
  • Tax expenses related to prior years: Nil (FY25: ₹1.90 lakhs)
  • Deferred Tax: ₹7.70 lakhs credit (FY25: ₹7.93 lakhs credit)
  • Net Profit: ₹2,766.00 lakhs (FY25: ₹2,546.71 lakhs) - growth of 8.61%
  • Other Comprehensive Income: ₹21.70 lakhs (FY25: ₹18.60 lakhs)
  • Total Comprehensive Income: ₹2,787.70 lakhs (FY25: ₹2,565.35 lakhs)
  • EPS - Basic/Diluted: ₹7.51 (FY25: ₹6.91)

Dividend Declaration:

  • Final dividend recommended: ₹0.50 per equity share (5%)
  • Dividend amount: ₹185.40 lakhs (subject to TDS)
  • Dividend Distribution Policy available on company website

Key Financial Metrics:

  • Operating EBITDA Margin: 33.86% (FY25: 33.06%)
  • Operating EBIT Margin: 31.83% (FY25: 31.68%)
  • PAT Margin: 25.99% (FY25: 24.79%)
  • ROCE: 32.22% (FY25: 38.03%)
  • ROE: 23.82% (FY25: 28.26%)
  • Current Ratio: 7.60 (FY25: 7.28)
  • Quick Ratio: 6.80 (FY25: 6.55)
  • Cash Conversion Cycle: 83 days (FY25: 77 days)
  • Exports as % of Revenue: 32.39% (FY25: 26.57%)

Cash Flow Statement:

  • Cash Flow from Operating Activities: ₹2,389.22 lakhs (FY25: ₹3,069.67 lakhs)
  • Cash Flow from Investing Activities: ₹-2,382.02 lakhs (FY25: ₹-2,839.42 lakhs)
  • Cash Flow from Financing Activities: ₹-36.20 lakhs (FY25: ₹-185.35 lakhs)

Balance Sheet Position (as at March 31, 2026):

  • Total Assets: ₹12,752.30 lakhs (FY25: ₹9,882.60 lakhs)
  • Equity Share Capital: ₹3,710.40 lakhs (unchanged)
  • Other Equity: ₹7,902.30 lakhs (FY25: ₹5,300.10 lakhs)
  • Net Worth: ₹11,612.70 lakhs (FY25: ₹9,010.50 lakhs)
  • Borrowings: ₹160.70 lakhs (FY25: Nil)

17th Annual General Meeting Details

  • Date: September 16, 2026
  • Time: 11:00 AM
  • Mode: Video Conferencing/Other Audio-Visual Means

Ordinary Business:

1. Adoption of audited standalone financial statements for FY26

2. Declaration of final dividend of ₹0.50 per equity share

3. Re-appointment of Mr. Jogindersingh Jaswal (DIN: 02385809) as director retiring by rotation

Special Business:

4. Ratification of remuneration of ₹90,000 p.a. plus applicable taxes to M/s. Diwanji & Associates as Cost Auditors for FY26-27

AGM Logistics:

  • Record Date: September 9, 2026
  • Book Closure: September 10-16, 2026 (both days inclusive)
  • Remote e-voting period: September 13-15, 2026 (9:00 AM to 5:00 PM)
  • Scrutinizer: Mr. Devesh A Pathak, Proprietor, M/s. Devesh Pathak & Associates
  • Compliance Officer: Mr. Nikhil Goswami, Company Secretary

Operational and Business Highlights

Manufacturing Capacity:

  • Portfolio of approximately 185 products including Excipients, High Purity Reagents, Pharmaceutical, nutraceutical and Food Chemicals
  • Facilities certified with FSSC 22000, GMP, GLP, ISO 9001:2015, ISO 14001:2015, ISO 45001:2018
  • Products certified KOSHER and HALAL where applicable
  • Manufacturing facilities located at Padra taluka, Vadodara district

Capacity Expansion:

  • Unit IV at Dahej in planning stage
  • All required permissions obtained from local and state departments (CETP, BEIL, GEB, GIDC)
  • Environmental clearance obtained from Central Government
  • Production expected to start in coming two years, full functionality in three years

Foreign Exchange:

  • Foreign exchange earnings: ₹3,080.74 lakhs (FY25: ₹2,639.85 lakhs)
  • Foreign exchange outgo: ₹33.31 lakhs (FY25: ₹55.01 lakhs)

Corporate Governance and Compliance

Board Composition:

  • Total Directors: 6 (3 Executive, 3 Independent)
  • Board Meetings held: 7 during FY26
  • Separate meeting of Independent Directors held on February 14, 2026

Key Appointments:

  • Statutory Auditors: M/s. Mahesh Udhwani and Associates (FRN: 129738W) appointed till 20th AGM in 2029
  • Cost Auditors: M/s. Diwanji & Associates reappointed for FY26-27
  • Internal Auditors: M/s. Jaimin & Associates (FRN: 127346W) appointed for FY26-27
  • Secretarial Auditors: M/s. Devesh Pathak & Associates appointed for 5 years (FY25-26 to FY29-30)

Remuneration Details:

  • Mr. Jogindersingh Jaswal (CMD): ₹132 lakhs p.a.
  • Mr. Ketan Ramani (WTD): ₹132 lakhs p.a.
  • Mr. Pritesh Ramani (WTD): ₹132 lakhs p.a.
  • Independent Directors: Sitting fees ranging from ₹0.20-0.35 lakhs

CSR Activities:

  • CSR expenditure: ₹57.53 lakhs
  • Focus areas: Promotion of Education, Animal Welfare, National Heritage/Art/Culture
  • Implemented through various trusts and foundations

Auditor Reports

Statutory Auditors (Mahesh Udhwani and Associates):

  • Unqualified opinion on financial statements
  • No qualifications, reservations, adverse remarks or disclaimers
  • No instance of fraud reported under Section 143(12)
  • Adequate internal financial controls in place

Secretarial Auditors (Devesh Pathak & Associates):

  • Company complied with applicable statutory provisions
  • Proper board processes and compliance mechanism in place
  • No significant non-compliances observed

Shareholding Pattern (as at March 31, 2026)

  • Promoters: 74.18% (2,75,24,280 shares)
  • Public: 25.82%
  • Equity Shares: 3,71,04,000 shares of ₹10 each fully paid up

Other Significant Information

  • No material changes and commitments affecting financial position post year-end
  • No significant orders passed by regulators/courts impacting going concern status
  • No frauds reported by auditors
  • Company compliant with applicable Secretarial Standards
  • Vigil Mechanism/Whistle Blower Policy in place
  • No sexual harassment complaints received during the year

Important Dates and Deadlines

  • AGM Date: September 16, 2026
  • Record Date: September 9, 2026
  • Book Closure: September 10-16, 2026
  • E-voting period: September 13-15, 2026
  • Dividend payment: On or before 30 days from AGM date