Speciality Medicines Limited held its Board of Directors meeting on November 12, 2026, from 03:30 PM to 04:15 PM at its Corporate Office in Mumbai. The board considered and approved two key agenda items.

1. Unaudited Standalone Financial Results for H1 FY27

The board approved and took on record the unaudited standalone financial results for the half year ended September 30, 2026, along with the limited review report issued by the statutory auditors, A K Ostwal & Co.

Financial Performance Highlights (₹ in Lakh except per share data):

  • Revenue from Operations: ₹8,695.10 lakh for H1 FY27 (compared to ₹3,050.17 lakh in H1 FY26 and ₹7,528.51 lakh in FY26)
  • Other Income: ₹21.39 lakh for H1 FY27 (compared to ₹12.52 lakh in H1 FY26)
  • Total Income: ₹8,716.49 lakh for H1 FY27
  • Total Expenses: ₹7,826.65 lakh for H1 FY27
  • Profit Before Tax: ₹889.84 lakh for H1 FY27 (compared to ₹491.74 lakh in H1 FY26)
  • Tax Expense: ₹1.35 lakh (deferred tax) for H1 FY27
  • Net Profit for the Period: ₹888.49 lakh for H1 FY27 (compared to ₹485.02 lakh in H1 FY26)
  • Earnings Per Share (Basic & Diluted): ₹10.11 for H1 FY27 (not annualized)
  • Paid-up Equity Share Capital: ₹878.58 lakh with face value of ₹10 per share

Balance Sheet Highlights as of September 30, 2026 (₹ in Lakh):

  • Total Assets/Liabilities: ₹9,776.59 lakh
  • Shareholders' Funds: ₹8,007.78 lakh (Share capital: ₹878.58 lakh + Reserves: ₹7,129.20 lakh)
  • Non-current Liabilities: ₹225.73 lakh
  • Current Liabilities: ₹1,543.09 lakh
  • Current Assets: ₹8,980.43 lakh (including Inventories: ₹3,721.56 lakh, Trade Receivables: ₹2,702.63 lakh, Cash & Cash Equivalents: ₹1,229.65 lakh)

Cash Flow Highlights for H1 FY27 (₹ in Lakh):

  • Net Cash from Operating Activities: (₹327.41)
  • Net Cash from Investing Activities: (₹494.04)
  • Net Cash from Financing Activities: (₹403.45)
  • Net Change in Cash: (₹1,224.91)
  • Closing Cash & Cash Equivalents: ₹1,229.65

2. Utilization of IPO Proceeds

The board considered and noted the utilization of proceeds raised through the Initial Public Offer (IPO) for the half-year ended September 30, 2026, in line with the objects stated in the Prospectus dated March 25, 2026.

IPO Details:

  • IPO Date: March 25, 2026
  • Issue Size: ₹2,914.00 lakh through fresh issue of 23,50,000 equity shares of ₹10 each at ₹124 per share
  • Listing Date: March 30, 2026 on BSE SME Platform

Utilization of Proceeds as of September 30, 2026 (₹ in Lakh):

  • Setting up R&D Centre: ₹605.00 utilized out of ₹1,267.64 allocated
  • Product Registration in International Markets: ₹80.35 utilized out of ₹299.25 allocated
  • Marketing & Promotional Activities: ₹74.59 utilized out of ₹165.61 allocated
  • Working Capital Requirements: ₹800.00 fully utilized out of ₹800.00 allocated
  • General Corporate Purposes: ₹25.00 fully utilized out of ₹25.00 allocated
  • Public Issue Expenses: ₹210.15 utilized out of ₹356.50 allocated
  • Total Utilized: ₹1,795.09 out of ₹2,914.00 raised
  • Unutilized Amount: ₹1,118.91

Certification: The statutory auditor certified that there was no deviation or variation in the utilization of IPO proceeds, and the utilization is within the limits prescribed in the offer document and compliant with SEBI (ICDR) Regulations, 2018.

Additional Notes from Financial Statements:

  • The company has only one reportable segment: Marketing and Distribution of finished pharmaceutical formulations
  • The company is exempt from adopting IND-AS as its shares are listed on SME exchange
  • No investor complaints were pending as of September 30, 2026
  • The company has no subsidiaries, associates, or joint ventures
  • The company has obtained startup recognition from DPIIT and is eligible for 100% deduction u/s 80-IAC of the Income Tax Act for three consecutive assessment years from AY 2025-26 onwards
  • Accordingly, no provision for tax has been made for FY 2025-26 and H1 FY27, with tax calculated based on Minimum Alternate Tax (MAT)
  • Previous year's figures have been regrouped/rearranged where necessary