Board Meeting Details

The Board of Directors meeting was held on Tuesday, August 4, 2026 at the company's corporate office. The meeting commenced at 11:00 AM and concluded at 1:15 PM.

Key Matters Approved

1. Approval of Unaudited Financial Results

The Board considered and approved the Unaudited Financial Results (Standalone) of the Company for the quarter ended June 30, 2026. The results were reviewed by the Audit Committee and approved by the Board. The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of Companies Act, 2013. Segment reporting as defined in Indian Accounting Standard 108 is not applicable as the company is engaged solely in pharmaceutical products (API) segment.

2. Lapse of Convertible Warrants and Forfeiture of Upfront Consideration

Since the allottees failed to exercise the conversion option within the stipulated period, the warrants have lapsed with effect from August 3, 2026. Accordingly, in terms of SEBI (ICDR) Regulations, 2018, the upfront amount of ₹3,91,69,375 (25% of the issue price received at the time of allotment) stands forfeited by the company.

Allottee Details and Forfeiture Amounts

  • Jagdishchandra Dinesh Khokhani: 11,07,500 warrants pending conversion - ₹1,35,66,875 forfeited
  • Mahesh J Khokhani: 10,07,500 warrants pending conversion - ₹1,23,41,875 forfeited
  • Mehul Jagdishchandra Khokhani: 10,82,500 warrants pending conversion - ₹1,32,60,625 forfeited
  • Total: 31,97,500 warrants pending conversion - ₹3,91,69,375 total amount forfeited

Auditor Review

STAV & CO, Chartered Accountants (M. No.: 542573) conducted a limited review of the unaudited financial results for the quarter ended June 30, 2026 in accordance with Standard on Review Engagement (SRE) 2410. Their review report dated August 4, 2026 from Chandigarh stated that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement and have been prepared in accordance with applicable accounting standards and SEBI regulations.