Aspira Pathlab & Diagnostics Ltd

Key details

• Target Company: Aspira Pathlab & Diagnostics Ltd
• Disclosing Party: Jay Arvind Bhanushali
• Transaction Type: Acquisition of equity shares
• Pre-Transaction Holding: 7,47,838 shares (7.27%)
• Transaction Details: Acquired 1,424 shares (0.01%), open market, 17-09-2026 to 24-09-2026
• Post-Transaction Holding: 7,49,262 shares (7.28%)
• Date of Transaction: 17-09-2026 to 24-09-2026
• Capital: before/after Rs 10,29,30,000 for 1,02,93,000 shares
• Diluted Capital: Rs 10,29,30,000 for 1,02,93,000 shares

AGM Details

• Date: 25 September 2026.
• Remote e-voting window: 22–24 September 2026 (9:00–17:00).
• Record date: 18 September 2026.
• Mode: Not explicitly stated; e-voting conducted during AGM.

Key resolutions and results

• Resolution 1 (Ord): Adoption of financial statements for FY ended 31 Mar 2026 with auditors' report; passed.
• Resolution 2 (Ord): Re-designation of Nikunj Velji from MD to Executive Director; passed.
• Resolution 3 (Ord): Approval of related party transactions with Yashraj Odhekar Foundation; passed.
• Resolution 4 (Ord): Re-designation of Nikunj Velji as Executive Director; passed.
• Resolution 5 (Ord): Regularisation of Vaibhav Odhekar's appointment as Executive Director; passed.
• Voting: 50 votes polled; 42 in favour (84%), 8 against (16%).

AGM Details

• 53rd AGM held on 25 September 2026 via VC and OAVM.
• AGM started 02:00 PM IST and concluded 02:30 PM IST.
• Remote e-voting window: 22–24 September 2026.
• Attendees could vote at AGM if not cast remotely.

Resolutions

• Resolution 1: Adopt audited standalone financial statements for the year.
• Resolution 2: Re-appoint Nikunj Mange, retires by rotation.
• Resolution 3: Approve material related party transaction with Yashraj Research Foundation.
• Resolution 4: Re-designate Nikunj Velji Mange as Managing Director.
• Resolution 5: Regularize Vaibhav Odhekar as Executive Director.

Voting Results

• Resolution 1 result not disclosed.
• Resolution 2 result not disclosed.
• Resolution 3 result not disclosed.
• Resolution 4 result not disclosed.
• Resolution 5 result not disclosed.

Director Changes

• Nikunj Mange retires by rotation and seeks re-appointment.
• Nikunj Velji Mange redesignated as Managing Director.
• Vaibhav Odhekar Regularized as Executive Director.

Auditors

• Statutory and Secretarial auditors attended; no appointment changes announced.

Related Party Transactions

• Material related party transaction discussed with Yashraj Research Foundation.
• Nature: related party transaction; value not disclosed.

Aspira Pathlab & Diagnostics Limited: Trading Window closed from October 01, 2026 for the half-year ended September 30, 2026 and will reopen 48 hours after the declaration of financial results.

Transaction details

• Target Company: Aspira Pathlab & Diagnostics Ltd
• Disclosing Party: Jay Arvind Bhanushali
• Transaction Type: Acquisition
• Pre-Transaction Holding: 7,46,451 shares (7.25%), no encumbrances
• Acquired: 1,387 shares (0.01%) via open market
• Post-Transaction Holding: 7,47,838 shares (7.27%)
• Dates: 11-09-2026 to 16-09-2026
• Capital before: Rs 10,29,30,000; 1,02,93,000 shares
• Capital after: Rs 10,29,30,000; 1,02,93,000 shares
• Total diluted after: Rs 10,29,30,000; 1,02,93,000 shares

Right issue terms

• Rights issue of equity shares or convertible instruments.
• To eligible equity shareholders as on record date.
• Aggregate amount up to Rs 65 crore.
• Price to be determined; record date and entitlement ratio to be notified.
• Record date, entitlement ratio, and intermediaries to be decided.
• Target investors: eligible equity shareholders on record date.
• Board approval subject to shareholder and regulatory approvals, if any.
• Awaiting shareholder and regulatory approvals.
• Formation of Right Issue Committee to finalize terms.

Meeting Details

• Board meeting scheduled for September 12, 2026; time and venue not disclosed.

Key Agenda Items

• Consider fund-raising via equity/warrant issuance through preferential issue or private placements, subject to approvals.
• To transact other incidental and ancillary matters as may be decided by the board.

Other Notes

Reg 29(2) disclosure

• Target Company: Aspira Pathlab & Diagnostics Ltd.
• Disclosing Party: Jay Arvind Bhanushali, promoter group.
• Transaction Type: Acquisition of equity shares.
• Pre-Transaction Holding: 7,44,797 shares (7.24%), encumbrances 0.
• Transaction Details: Acquired 957 shares (0.01%) via open market on 31-08-2026.
• Post-Transaction Holding: 7,45,754 shares (7.25%), encumbrances 0.
• Date of Transaction: 31-08-2026.
• Share Capital Context: Before/After – Rs. 10,29,30,000; 1,02,93,000 shares.
• Total Diluted Capital after: Rs. 10,29,30,000; 1,02,93,000 shares.

Financial snapshot

• Revenue from operations stood at ₹2,498.20 Lakhs for FY2025-26.
• Total income ₹2,549.79 Lakhs; PAT ₹5.13 Lakhs; EBITDA ₹197.91 Lakhs.
• Cash flows: operating ₹145.37; investing ₹-80.43; financing ₹-113.72; net Δ₹-48.78 Lakhs.

Corporate developments

• Acquired Aspira DNA Diagnostics Gujarat LLP on 30 Jun 2025 for ₹13.00 Lakhs; LLP wound up.
• Consolidated FS not prepared due to substance over form; emphasis of matter.
• Related party transactions with YRF; aggregate value up to ₹5 Crores; 2025-26 sale of services ₹67.84 Lakhs.
• Proposed RPTs with YRF to be in ordinary course, arm's length; board approval via Audit Committee.
• 53rd AGM planned for Sep 25, 2026 via VC/OAVM; notices uploaded on company site.
• Dividend not declared for FY2025-26; no transfer to reserves.

Governance and controls

• Statutory auditors: Sarda Soni Associates LLP; annual report with unmodified opinion.
• Secretarial auditor: Nilesh A. Pradhan & Co. LLP; Annexure-III; no qualifications.
• KMP changes: Krupali Shah resigned 8 Mar 2026; Neetu Maurya appointed 24 May 2026.
• 4 board meetings held in FY2025-26; independent directors meetings Feb 28, 2026.
• CEO/CFO certification provided; non-disqualification certificate; Corporate Governance compliance.

Dividend and capital

• Dividend: not declared for FY2025-26; no dividend history for the year.
• Share capital: ₹1,029.30 Lakhs; 102.93 million equity shares issued.
• Book closure: Sep 19-25, 2026.

Industry outlook and strategic direction

• Industry to grow 8-10% CAGR through FY2027.
• Growth drivers: preventive care, digital health, genomics, Tier-2/3 expansion.
• Expansion plans to broaden footprint, improve efficiency, and leverage AI and digital platforms.