Meeting Details

The 9th Annual General Meeting was held on Wednesday, September 30, 2026, commencing at 02:30 PM IST and concluding at 02:51 PM IST. The meeting was conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM) in accordance with the provisions of the Companies Act, 2013 and relevant circulars from the Ministry of Corporate Affairs and SEBI. The deemed venue was the Registered Office of the Company at A1 A2/B1 B2, Navkala Bharti Bldg Plot No16 Prabhat Colony opp near Santacruz Bus depot Santa Cruz East, Mumbai City, Mumbai, Maharashtra, India, 400055.

Attendance

Directors Present:

  • Mr. Mahesh Pahalraj Makhija - Chairman and Managing Director (Registered Office, Mumbai)
  • Mr. Prajwal Jayasheela Poojari - Independent Director; Chairperson – Audit Committee and Stakeholders' Relationship Committee (Mira Road, Mumbai)
  • Mr. Niken Ravin Shah - Independent Director; Chairman – Nomination and Remuneration Committee and CSR Committee (Fort, Mumbai)
  • Mr. Deena Nath Pathak - Non-Executive Non-Independent Director (Chanakyapuri, Delhi)
  • Mr. Pranav Manhar Badheka - Additional Independent Director (Wadala, Mumbai)
  • Mrs. Sarita Vijay Mahajan - Independent Director (Ghatkopar, Mumbai)

Key Managerial Personnel and Invitees:

  • Mrs. Toral Bhadra - Company Secretary and Compliance Officer
  • Ms. Sejal Vivek Mhatre - Chief Financial Officer
  • Mr. Harsh Dedhia - M/s. H. H. Dedhia & Associates, Chartered Accountants (Statutory Auditors)
  • M/s. Maharshi Ganatra & Associates, Company Secretaries (Secretarial Auditors); Mr. Maharshi Ganatra – Scrutinizer
  • M/s. Khushbu Parekh & Co. - Internal Auditors

24 Members were present through VC, which constituted the requisite quorum under Section 103 of the Companies Act, 2013.

Resolutions and Voting Process

The following six resolutions were put to vote through remote e-Voting and e-Voting during the meeting:

Ordinary Business:

1. Adoption of Standalone Audited Financial Statements for FY 2025-26

2. Adoption of Consolidated Audited Financial Statements for FY 2025-26

3. Re-appointment of Mr. Mahesh Pahalraj Makhija as Director

4. Declaration of final dividend of 5% (₹0.50 per equity share) for FY 2025-26

Special Business:

5. Regularization of Mr. Pranav Manhar Badheka (DIN: 06460764) as Independent Director

6. Approval of Material Related Party Transactions with Saarathi Healthcare Private Limited

The Company engaged National Securities Depository Limited (NSDL) to provide remote e-Voting and e-Voting during the meeting. The remote e-Voting period commenced on Sunday, September 27, 2026 at 9:00 AM IST and ended on Tuesday, September 29, 2026 at 5:00 PM IST. Mr. Maharshi Ganatra of M/s. Maharshi Ganatra & Associates was appointed as Scrutinizer to scrutinize the e-Voting process.

Financial and Operational Highlights

The Chairman addressed the following key performance metrics:

Standalone Performance FY 2025-26:

  • Revenue: ₹152.30 crore (FY 2024-25: ₹144.87 crore), growth of 5.1%
  • EBITDA: ₹20.50 crore (FY 2024-25: ₹23.32 crore)
  • Net Profit: ₹6.69 crore (FY 2024-25: ₹10.42 crore)

Consolidated Performance FY 2025-26 (including Saarathi Healthcare):

  • Revenue: ₹172.88 crore (FY 2024-25: ₹156.01 crore), growth of 10.8%
  • EBITDA: ₹25.88 crore (FY 2024-25: ₹25.60 crore)
  • Net Profit: ₹11.92 crore (FY 2024-25: ₹13.70 crore)

Business Operations:

  • Products business portfolio: More than 900 SKUs
  • Healthcare Services business: 32,380 healthcare camps conducted across India during FY 2025-26

Strategic Developments

The Chairman highlighted several strategic initiatives:

  • Migration from NSE Emerge to NSE Mainboard in June 2026
  • Acquisition of remaining stake in Saarathi Healthcare, making it a wholly owned subsidiary
  • Proposed Composite Scheme involving the Company, Health Care at Home India and Saarathi Healthcare (subject to statutory, regulatory and shareholder approvals)
  • Five-year exclusive marketing and distribution agreement with HEINE Optotechnik, Germany (effective January 1, 2027 to December 31, 2031)
  • Proposed investment in BeamOptics Scientific
  • Continued expansion of consumer healthcare brand Q Devices

Voting and Compliance

The Company Secretary confirmed that:

  • Physical attendance was dispensed with and proxy appointments were not available
  • The proceedings were recorded for compliance purposes
  • Statutory registers were available for inspection as stated in the Notice
  • Independent Auditors' Reports and Secretarial Audit Report for FY 2025-26 were unqualified with no qualifications, reservations, adverse remarks or modified opinions
  • Two Members had registered as speaker shareholders (Mr. Manjit Singh and Mr. Dharmesh Pravinbhai Gosalia) but were not present and did not raise queries
  • The e-Voting facility remained open for 15 minutes after meeting conclusion
  • Consolidated results of e-Voting and Scrutinizer's Report will be submitted to the Stock Exchange and placed on the company website

The meeting concluded with confirmation of compliance with applicable laws and regulations including the Companies Act, 2013 and SEBI Listing Regulations.

Additional Information

Company CIN: L33309MH2017PLC299748

NSE Symbol: QMSMEDI

Company Website: https://qmsmas.com/