AGM Notice and Corporate Governance

Vineet Laboratories Limited dispatched notice for its 10th Annual General Meeting scheduled on November 30, 2026 via video conferencing to consider seven resolutions including financial statements adoption, director appointments, and auditor changes. The meeting complied with SEBI Listing Regulations and various MCA circulars, utilizing electronic voting through CDSL with remote e-voting from November 27-29, 2026 and M/s. Aakanksha Dubey & Co. as scrutinizer.

Financial Performance and Capital Structure

The company reported a significant financial turnaround with ₹111.08 lakh net profit in FY26 versus ₹2,019.10 lakh loss in FY25, following a fully-subscribed ₹29.96 crore rights issue of 99,87,258 equity shares at ₹30 per share. This increased paid-up capital from ₹9.22 crore to ₹19.21 crore, strengthening the company's financial position.

Key Resolutions and Management Changes

The AGM approved several important resolutions including:

  • Appointment of M/s. SVRL & Co. as Statutory Auditors for five years
  • Ratification of cost auditor remuneration for M/s. Mannidi & Associates
  • Appointment of Mr. Rajesh Kumar Kathulla as Whole-Time Director at ₹4,00,000/- per month
  • Appointment of Mr. Avula Navaneeswara Reddy as Non-Executive Director
  • Re-appointment of Mr. Satyanarayana Raju Bhupathiraju who retired by rotation

Accounting Policies Disclosure

The company disclosed comprehensive accounting policies in accordance with Indian Accounting Standards (Ind AS), covering:

  • Revenue recognition from goods sales (net of returns, GST, discounts) and services income
  • Interest income calculation using effective interest method on margin money deposits
  • Tax expense treatment including current tax, deferred tax, MAT credit, and GST handling
  • Earnings per share calculation (basic and diluted) and fair value determination methods
  • Adoption of recent Ind AS amendments with no significant financial statement impact

Operational and Compliance Details

The company operates in pharmaceutical intermediates, bulk drugs and fine chemicals with 108 employees, listed on BSE (Scrip Code: 543298) and NSE (Symbol: VINEETLAB). The notice confirms compliance with Companies Act 2013, SEBI regulations, and various circulars, with all documents available on company website and stock exchange platforms.