Date: 01st October, 2026
Regulatory Disclosure
Details of Regulatory Action
Name of the authority: Food & Drug Administration, Pune
Nature and details of the action(s) taken or order(s) passed: Directions and Warning Letter
Date of receipt of direction or order: Letter dated 10.01.2025
Details of the violation(s)/contravention(s) committed or alleged to be committed:
- The Company sold a consignment of Propylene Glycol, of technical grade, to a customer for industrial use only.
- Without the Company's knowledge or consent, that customer resold the material to a third party, who used it for pharmaceutical purposes.
- The use of a technical-grade product in pharmaceutical applications was found to contravene the provisions of the Drugs and Cosmetics Act, 1940 and the Rules made thereunder.
- The competent authority accordingly issued a strict warning to the Company.
- No penalty, prosecution or other adverse order was passed against the Company.
- The Company has since reviewed its sales and documentation practices to prevent recurrence, including clearly stating the intended end-use on its invoices and labels and obtaining end-use declarations from customers.
Impact on financial, operation or other activities: None, there is no material impact on financials, operations or other activities of the Company.
Reason for delay in disclosure: The Company was of the view that the said letter does not fall within the ambit of events requiring disclosure under Sub-para 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and hence Company did not submit the disclosure. Further on receipt of SEBI letter dated 29th September 2026, the company is submitting the disclosure.