Key Financial Figures (FY 2025-26)
- Revenue from operations: ₹3,956.20 lakhs (Previous year: ₹3,897.57 lakhs)
- Other operating income: ₹405.16 lakhs (Previous year: ₹407.14 lakhs)
- Other income: ₹230.90 lakhs (Previous year: ₹154.86 lakhs)
- Total revenue: ₹4,592.26 lakhs (Previous year: ₹4,459.57 lakhs)
- Depreciation: ₹711.34 lakhs (Previous year: ₹696.01 lakhs)
- Other expenses: ₹3,442.51 lakhs (Previous year: ₹2,886.69 lakhs)
- Profit before exceptional items and tax: ₹438.41 lakhs (Previous year: ₹876.87 lakhs)
- Exceptional item: -₹19.51 lakhs (Previous year: ₹192.32 lakhs)
- Profit before tax: ₹418.90 lakhs (Previous year: ₹1,069.19 lakhs)
- Tax expense: ₹526.11 lakhs (Previous year: ₹507.90 lakhs)
- Net loss after tax: ₹(107.21) lakhs (Previous year: net profit of ₹561.29 lakhs)
- Loss brought forward: ₹(17,443.61) lakhs
- Loss carried forward: ₹(17,546.15) lakhs
AGM Details
The 37th Annual General Meeting will be held on Friday, September 25, 2026 at 10:30 A.M. IST through Video Conferencing.
Cut-off Dates and Voting Information
- Cut-off date for voting eligibility: Friday, September 18, 2026
- Remote e-voting begins: Tuesday, September 22, 2026 at 09:00 A.M. IST
- Remote e-voting ends: Thursday, September 24, 2026 at 05:00 P.M. IST
- E-Voting EVEN: 141080
Business Items for AGM
Ordinary Business:
1. Adoption of Audited Standalone Financial Statements for FY ended March 31, 2026
2. Re-appointment of Mr. Jignesh Anantray Goradia (DIN: 07229899) as Director liable to retire by rotation
Special Business:
3. Approval for Material Related Party Transaction(s) with Sun Pharmaceutical Industries Limited for an aggregate amount not exceeding ₹200 Crore for the period from September 25, 2026 to the date of the 38th AGM
Material Related Party Transaction Details
The company seeks shareholder approval for the following transactions with Sun Pharma:
1. Conversion charges (contract manufacturing): ₹60 Crore
2. Purchases of assets: ₹20 Crore
3. Leasing of equipment/facility: ₹38 Crore
4. Term loan and interest: ₹64 Crore
5. Payment towards reimbursement of expenses: ₹3 Crore
6. Receipt towards reimbursement of expenses: ₹15 Crore
Total proposed transactions: ₹200 Crore
Historical RPT Context
Members had approved material related party transactions with Sun Pharma for ₹200 Crore at the 36th AGM held on September 26, 2025, valid until the 37th AGM.
Financial Impact
For FY 2025-26, total transactions with Sun Pharma amounted to ₹53.06 crore across:
- Conversion charges: ₹39.37 crore
- Leasing of equipment/facility: ₹3.98 crore
- Receipt - reimbursement expenses: ₹9.08 crore
- Payments - reimbursement expenses: ₹0.63 crore
The proposed ₹200 crore transaction represents 506% of the company's FY 2025-26 turnover.
Corporate Governance
- Board comprises 6 directors (3 non-executive non-independent, 3 independent including one woman director)
- Mr. Nikkhil Venilal Kothhari appointed as additional independent director on January 23, 2026
- Mr. Chintan Jitendra Shah retired as independent director upon completion of second tenure on January 26, 2026
Key Managerial Personnel
- Dr. Sachin Laxmanappa Gavandare: Chief Executive Officer
- Mr. Poly K.V.: Chief Financial Officer
- Mr. Abdul Gafoor Mohammad: Company Secretary & Compliance Officer
Dividend
No dividend recommended for FY 2025-26 due to losses incurred during the year.
Subsidiaries
Overseas subsidiaries (Zenotech Farmaceutica Do Brasil Ltda and Zenotech Inc.) were defunct and reported as cancelled/revoked based on certificates received in June 2022. The company received winding up order for Zenotech Laboratories Nigeria Limited during FY 2019-20.
Capital Structure
Share capital stood at ₹61,03,05,680 (6,10,30,568 Equity Shares of ₹10 each) with no changes during the financial year.