Company Overview
Span Divergent Limited (formerly Span Diagnostics Ltd.) convened its 46th Annual General Meeting on September 28, 2026, to approve audited financial statements and special business items including significant related party transactions and director appointments.
Financial Performance
Standalone Results: The company reported net profit of ₹72.64 lakh for FY26, down from ₹83.96 lakh in FY25, with total revenue declining to ₹222.42 lakh from ₹276.19 lakh.
Consolidated Results: Despite 92.24% revenue growth to ₹1,722.46 lakh, consolidated operations resulted in a net loss of ₹250.15 lakh attributable to owners, significantly higher than the ₹91.73 lakh loss in FY25. This deterioration was primarily driven by subsidiary performance.
Capital Structure & Corporate Actions
The company completed a preferential issuance of 18,01,481 equity shares at a premium of ₹22.16 per share, raising ₹57.94 crore and increasing paid-up capital to ₹726.32 lakh. Shareholders approved the continuation of Mr. Sanjay Mehta's directorship despite him attaining age 75, requiring special resolution under SEBI LODR regulations.
Subsidiary Performance
Dryfruit Factory LLP reported revenue of ₹1,367.57 lakh but net loss of ₹269.22 lakh, with plant operations resuming in June 2025 after overhaul.
Biospan Scientific LLP generated ₹243.37 lakh revenue with minimal profit of ₹2.32 lakh.
Biospan Contamination Control Solutions reported ₹120.78 lakh revenue but net loss of ₹75.86 lakh, with accumulated losses of ₹720 lakh.
Aranya Consulting and Biotech LLP showed improvement with ₹24.94 lakh revenue and net profit of ₹17.83 lakh after business restructuring.
Related Party Transactions
Shareholders approved annual transaction limits totaling ₹95 crore with five subsidiary entities (Dryfruit Factory LLP: ₹75cr, others: ₹5cr each) and three key management personnel (₹5cr each). Detailed historical transactions were disclosed for transparency.
Corporate Governance & Compliance
The company maintained SEBI LODR compliance with appropriate auditor appointments (Y. B. Desai & Associates for statutory audit, Mitesh Rana & Co. for secretarial audit) and provided comprehensive voting arrangements through NSDL platform. No dividend was declared for FY26 in line with the company's dividend distribution policy.
Operational Segments
The company operates in three reportable segments: Cashew processing (₹1,367.57 lakh revenue, ₹269.22 lakh loss), Tissue Culture (₹24.94 lakh revenue), and Trading (₹364.16 lakh revenue, ₹73.89 lakh loss), reflecting the diversified yet challenging operational landscape.