Astec Lifesciences Ltd

AGM outcomes

• AGM held July 31, 2026 via VC/OAVM; three resolutions passed.
• Resolutions approved: adoption of standalone and consolidated financial statements; director re-appointments.

Governance and management changes

• Mugdha Khare resigned as CFO; Deepak Ochani appointed CFO from 1 Apr 2026.
• Arijit Mukherjee appointed Executive Director & COO.
• Nadir Godrej retired as Non-Executive Director; Vishal Sharma appointed Chairperson and Additional Director.

Capital actions and holdings

• Rights Issue: 28,01,673 shares at ₹890; 26,69,951 allotted; ₹249.35 crore raised.
• Holding stake increased to 67.03% from 64.75%.

Financial performance and mix

• FY25-26 consolidated revenue ₹45,321.65 lakh; net loss ₹8,087.62 lakh.
• Exports accounted for 62% of revenue; CDMO 52% of sales, Enterprise 48%.

Financial Highlights

• Consolidated total income: ₹84.3 crore in Q1FY27, down from ₹91.6 crore.
• Consolidated EBITDA: ₹0.1 crore in Q1FY27, versus ₹-10.5 crore.
• Profit after tax: ₹-18.7 crore in Q1FY27, versus ₹-33.0 crore.
• EBITDA breakeven achieved in the quarter.

Segment and Geography Update

• Enterprise revenue ₹51.8 crore in Q1FY27, up 41.6% YoY.
• CDMO revenue ₹31.8 crore, down from ₹54.6 crore.
• Exports ₹33.3 crore; Domestic ₹50.3 crore.
• Exports down 27.5% YoY; Domestic up 11.3% YoY.

Operational Update & Outlook

• Sector demand-supply imbalance expected to ease over the medium term.
• Company pursuing growth capability with new product introductions and efficiency improvements.
• Plants utilization improved, aiding margin uplift.

Key disclosures

• Board approved unaudited standalone and consolidated financial results for quarter ended 30 June 2026.
• Limited Review Reports on the results were noted with unmodified opinions.
• Notes disclose an exceptional item of Rs 209.43 lakh for labour code impact in FY2026.
• Annexure I lists three entities: Astec LifeSciences (holding) and two subsidiaries.

Dematerialisation/rematerialisation status

• Dematerialisation requests up to 30 June 2026 were confirmed to depositories as accepted/rejected.
• Securities in the dematerialised certificates have been listed on the stock exchange where the original securities are listed.
• Physical dematerialisation certificates were mutilated and cancelled after due verification by the depository participant.
• Depository name substituted as registered owner in the register of members within 15 days of receipt.

AGM details

• Date/time: 31 Jul 2026, 4:00 PM IST, via VC/OAVM.
• Book closure: 26–30 Jul 2026 (inclusive).
• Remote e-voting: 26 Jul 2026 9:00 AM to 30 Jul 2026 5:00 PM IST.
• Record date/cut-off: 24 Jul 2026.

Resolutions to be voted

• Ordinary: Adoption of Audited Standalone and Consolidated Financial Statements for FY2025-26.
• Ordinary: Re-appointment of Ashok V Hiremath as Director liable to retire by rotation.
• Ordinary: Ratification of Cost Auditor remuneration for FY2026-27.
• Ordinary (Postal Ballot): Appointment of Vishal Sharma as Non-Executive Director.
• Ordinary (Postal Ballot): Appointment of Burjis N. Godrej as Non-Executive Director.
• Ordinary (Postal Ballot): Appointment of Arijit Mukherjee as Director.
• Special (Postal Ballot): Appointment and remuneration of Arijit Mukherjee as Executive Director.
• Special (Postal Ballot): Appointment of Mathew Eipe as Independent Director.
• Ordinary (Postal Ballot): Approval for related party transactions with holding company for FY2026-27.
• Rights issue related approvals including issuance of rights shares up to ₹250 crore.

Dividend

• Final dividend for FY2025-26 not proposed.

Director changes

• Nadir B. Godrej retires as Non-Executive Director & Chairman from 13 Apr 2026.
• Vishal Sharma appointed Additional Non-Executive Director & Chairperson from 13 Apr 2026 (subject to Postal Ballot).
• Burjis N. Godrej moves from MD to Additional Non-Executive Non-Independent Director from 13 Apr 2026.
• Mathew Eipe appointed Additional Independent Director from 13 Apr 2026 (subject to Postal Ballot).
• Arijit Mukherjee appointed Additional Director & Executive Director for 3 years from 13 Apr 2026 (subject to Postal Ballot).

Auditors

• Statutory Auditors: B S R & Co. LLP, continuing to 33rd AGM (FY2022-23 to 2026-27).
• Secretarial Auditors: BNP & Associates, re-appointed for 5-year term (to 2029-30).
• Cost Auditors: M/s Tapan Gaitonde & Co.; remuneration upto ₹1.50 lakh + ₹15k XBRL; ratification at AGM.

Material related party transactions

• Related party transactions with Godrej Agrovet Limited approved beyond threshold via Postal Ballot on 7 Nov 2025; cap ₹400 crore.

Other material approvals

• Rights issue: up to ₹250 crore; 28,01,673 rights shares offered; 26,69,951 allotted at ₹890 each.
• Rights Issue Committee approvals; NSE/BSE in-principle clearance received.
• ESOP/ESOP 2012: 916 shares allotted; 1,154 options granted (Amended ESOP 2012).
• ESOS 2015: no new grants.

Postal ballot outcomes

• Resolutions 1-7 passed by requisite majority; deemed effective on 4 July 2026.
• Vishal Sharma and Burjis N. Godrej appointed as Additional Directors (non-exec, non-independent) liable to retire by rotation.
• Arijit Mukherjee appointed as Director; also Executive Director with remuneration while continuing as COO.
• Mathew Eipe appointed as Independent Director.
• Related Party Transactions approved with Godrej Agrovet Limited beyond materiality threshold for FY2026-27.
• Related Party Transactions approved with Godrej Industries Limited beyond materiality threshold for FY2026-27.
• Voting window June 5 to July 4, 2026; Scrutinizer's report dated 4 July 2026 confirms outcome.