Bilcare Ltd

Disposal details

• Target: Bilcare Limited.
• Disclosing party: Guttikonda Anuradha; Guttikonda Vara Lakshmi; Guttikonda Rajasekhar; all non-promoter.
• Transaction type: disposal of voting rights shares.
• Pre-disposal voting rights: Anuradha 32,000; Lakshmi 34,67,987; Rajasekhar 5,18,573.
• Total pre-disposal: 40,18,560 shares (17.07% voting capital).
• Shares sold: Anuradha 5,79,837; Lakshmi 35,343; Rajasekhar 0.
• Total shares sold: 6,15,180 (2.64% voting; 2.61% diluted).
• Mode: Open Market; Date: 19.08.2026.
• Post-disposal voting rights: Anuradha 32,000; Lakshmi 28,88,150; Rajasekhar 4,83,230.
• Total post-disposal: 34,03,380 shares (14.46% diluted).
• Equity capital before/after: Rs 23,54,52,310; 2,35,45,231 shares.
• Total diluted capital: Rs 23,54,52,310; 2,35,45,231 shares.
• Acquirers are not promoters.

Director Changes

• Appointment: Mohan Bhandari appointed Executive Director, effective 13 Aug 2026, for five years.
• Reappointment: Kavita Bhansali, Executive Director, for five years from 15 Aug 2026; daughter of Mohan Bhandari.

Key Managerial Personnel Changes

• Resignation: Sagar R. Baheti resigns as Company Secretary, Compliance Officer and KMP; relief 24 Sep 2026.
• Appointment: Mayur Dave appointed Company Secretary, Compliance Officer and KMP; effective 25 Sep 2026.

Subsidiary Action

• Voluntary winding up: Bilcare INC; subsidiary not material; board approved.

Dematerialisation processing and listing

• Dematerialisation requests received during the quarter were confirmed and processed to the depositories.
• Securities dematerialised were listed on the stock exchanges where the earlier issues are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification.
• Depositories' names were substituted as registered owners within prescribed timelines.

FY26 standalone results

• 📊 Revenue from operations fell 54.7% YoY to Rs 6.85 crore.
• 📊 Total income declined 19.9% YoY to Rs 26.38 crore.
• 📊 PBT fell to Rs 1.56 crore from Rs 5.45 crore.
• 📊 PAT dropped to Rs 0.99 crore from Rs 3.99 crore.
• 📊 Basic EPS fell to Rs 0.42 from Rs 1.70.
• 📊 Other income rose to Rs 19.53 crore from Rs 17.85 crore.
• 📊 Other expenses increased to Rs 12.70 crore from Rs 10.61 crore.

FY26 consolidated results

• 📊 Revenue from operations fell 6.9% YoY to Rs 733.54 crore.
• 📊 Total income declined 5.3% YoY to Rs 763.54 crore.
• 📊 Consolidated PBT improved to a loss of Rs 21.46 crore from Rs 43.31 crore.
• 📊 Consolidated PAT improved to a loss of Rs 17.29 crore from Rs 28.13 crore.
• 📊 Basic EPS improved to Rs 0.73 loss from Rs 0.32 loss.
• 📊 Material costs fell to Rs 494.17 crore from Rs 535.89 crore.
• 📊 Finance costs declined to Rs 72.34 crore from Rs 83.18 crore.

Standalone balance sheet

• 📊 Total assets were Rs 455.12 crore at 31 March 2026.
• 📊 Cash and cash equivalents were Rs 0.40 crore.
• 📊 Investments stood at Rs 309.71 crore.
• 📊 Borrowings were Rs 10.81 crore, including Rs 10.63 crore non-current.
• 📊 Assets held for sale remained Rs 64.07 crore.

Consolidated balance sheet

• 📊 Total assets were Rs 842.83 crore at 31 March 2026.
• 📊 Cash and cash equivalents were Rs 4.61 crore.
• 📊 Inventories were Rs 114.84 crore and receivables Rs 108.04 crore.
• 📊 Borrowings were Rs 608.66 crore, including Rs 449.72 crore non-current.
• 📊 Assets held for sale remained Rs 64.07 crore.

Cash flow

• 📊 Standalone operating cash flow was Rs 2.36 crore in FY26.
• 📊 Consolidated operating cash flow was Rs 127.79 crore in FY26.
• 📊 Consolidated investing cash flow was an outflow of Rs 5.90 crore.
• 📊 Consolidated financing cash flow was an outflow of Rs 132.31 crore.
• 📊 Consolidated cash ended at Rs 4.61 crore, down from Rs 14.14 crore.

Corporate actions

• 📍 No dividend was recommended for FY26.
• 📍 Bilcare redeemed 1.56 crore preference shares of Caprihans India for Rs 15.60 crore.
• 📍 Bilcare converted 10.40 lakh warrants into equity shares of Caprihans India.
• 📍 Caprihans India stake increased to 62.04% after allotments.

Key notes

• ⚠️ Auditors highlighted material uncertainty related to going concern.
• ⚠️ CSIR loan penal interest of Rs 17.72 crore remains a contingent liability.
• ⚠️ SFIO investigation remains sub-judice.
• 🗒️ Public fixed deposit liability taken over by Caprihans India remains under statutory compliance obligations.
• 🗒️ Standalone and consolidated reports received unmodified audit opinions.

Business

• Bilcare operates in pharma packaging research solutions.
• The group includes Caprihans India and overseas packaging subsidiaries.
• Standalone segment reporting is one reportable segment: Pharma Packaging Research Solutions.