Board Meeting Details
The Board meeting commenced at 11:30 a.m. and concluded at 1:20 p.m. on Tuesday, 4th August 2026.
Key Approvals and Outcomes
1. Financial Results Approval
- The Board approved the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026.
- Approval was based on the recommendation of the Audit Committee and in accordance with Regulation 33 of SEBI Listing Regulations.
- The financial results were accompanied by limited review reports from the auditors.
2. Dividend Record Date
- The Board fixed Saturday, September 19, 2026 as the record date for determining members eligible to receive the final dividend for FY2025-26.
- Dividend payment is subject to approval by members at the 41st Annual General Meeting (AGM).
- This is in accordance with Regulation 42 of Listing Regulations.
3. Medical Devices Business Hive-off Timeline Extension
- Subject to member approval at the 41st AGM, the Board approved an extension of the timeline for hiving off the Medical Devices Business.
- The business will be transferred to Morepen Medipath Limited (formerly Morepen Medtech Limited), a subsidiary company.
- The transfer will be on a slump sale basis as a going concern.
- This is classified as a material related party transaction.
4. Management Re-appointment
- Subject to member approval at the 41st AGM, the Board approved the re-appointment of Mr. Sushil Suri (DIN: 00012028) as Chairman & Managing Director.
- The reappointment is for a further period of three years, effective from October 20, 2026 to October 19, 2029 (both days inclusive).
- This decision was based on the recommendation of the Nomination and Remuneration Committee.
5. Annual General Meeting
- The 41st AGM of members is scheduled to be held on Saturday, September 26, 2026.
- The meeting will be conducted through video conferencing/other audio-visual means.
- The notice of AGM will be issued in accordance with applicable circulars from MCA and SEBI.
Financial Performance Highlights (Consolidated)
Quarter Ended June 30, 2026 (Unaudited)
- Revenue from operations: ₹57,012.81 lakhs
- Other Income: ₹518.34 lakhs
- Total Income: ₹57,531.15 lakhs
- Total Expenditure: ₹50,078.41 lakhs
- Profit before tax: ₹7,452.74 lakhs
- Tax Expense: ₹1,818.16 lakhs
- Net Profit for the period: ₹5,634.58 lakhs
- Share of Minority Interest: (₹5.36) lakhs
- Net Profit after Minority Interest: ₹5,639.94 lakhs
- Other Comprehensive Income: ₹19.01 lakhs
- Total Comprehensive Income: ₹5,658.95 lakhs
- Basic & Diluted EPS: ₹1.03
- Paid-up Equity Share Capital: ₹10,958.41 lakhs (Face Value ₹2 each)
Comparative Figures (Consolidated)
- Q1 FY26 Revenue: ₹42,523.88 lakhs (34.1% increase YoY)
- Q1 FY26 Net Profit: ₹1,140.66 lakhs (394.6% increase YoY)
- Q1 FY26 EPS: ₹0.20
Financial Performance Highlights (Standalone)
Quarter Ended June 30, 2026 (Unaudited)
- Revenue from operations: ₹54,104.13 lakhs
- Other Income: ₹531.09 lakhs
- Total Income: ₹54,635.22 lakhs
- Total Expenditure: ₹47,420.06 lakhs
- Profit before tax: ₹7,215.16 lakhs
- Tax Expense: ₹1,815.33 lakhs
- Net Profit for the period: ₹5,399.83 lakhs
- Other Comprehensive Income: ₹19.01 lakhs
- Total Comprehensive Income: ₹5,418.84 lakhs
- Basic & Diluted EPS: ₹0.99
- Paid-up Equity Share Capital: ₹10,958.41 lakhs (Face Value ₹2 each)
Comparative Figures (Standalone)
- Q1 FY26 Revenue: ₹39,128.43 lakhs (38.3% increase YoY)
- Q1 FY26 Net Profit: ₹806.12 lakhs (570.0% increase YoY)
- Q1 FY26 EPS: ₹0.15
Subsidiary Information
The consolidated results include the following subsidiaries:
Indian Subsidiaries:
- Morepen Devices Limited (Wholly Owned)
- Morepen Rx Ltd. (Wholly Owned)
- Morepen Medipath Limited (formerly Morepen Medtech Limited) (51% owned)
- Sigmacheck Health Private Limited (51% owned through Morepen Medipath Ltd.)
Foreign Subsidiaries:
- Morepen Bio Inc., USA (Wholly Owned)
- Morepen Labs FZE., UAE (formerly Morepen Labs FZCO) (Wholly Owned)
- Morepen Medical Equipment Trading L.L.C., UAE (51% owned through Morepen Medipath Ltd.)
Auditor's Review Limitations
The auditors noted they did not review the interim financial results of five subsidiaries (Morepen Devices Limited, Morepen Rx Ltd., Morepen Bio Inc., Morepen Medical Equipment Trading L.L.C., and Morepen Labs FZE). These subsidiaries reflected total profit after tax (before consolidation adjustments) of ₹238.71 lakhs for the quarter ended June 30, 2026.
Management Profile Details (Annexure-B)
- Mr. Sushil Suri has more than 30 years of experience in the pharmaceuticals industry
- He is a qualified Chartered Accountant and Fellow member of the Institute of Chartered Accountants of India
- His expertise spans strategic & financial planning, manufacturing, capital structuring, collaborations and joint ventures
- Relationship disclosure: Mr. Sushil Suri is the brother of Mr. Sanjay Suri, Managing Director and member of promoter group
- Mr. Sushil Suri is not debarred from holding the office of Director by any order from SEBI or other authority