Choksi Laboratories Ltd

Choksi Laboratories Limited: Trading window closed from 1 October 2026 until 48 hours after unaudited results for quarter and half year ended 30 September 2026

EGM purpose

• Special resolution to approve issue and allotment of up to 3,50,000 convertible warrants to promoter group.

Key resolution details

• Warrants are convertible, 1:1 with equity shares, at Rs 177 per warrant.
• Aggregate size: Rs 6,19,50,000; maximum 3,50,000 warrants.
• Allottees: promoter group; 25% upfront, 75% on exercise.
• Exercise period: 18 months from allotment; lapse if unexercised.
• Listing and approvals sought; equity shares to be listed on BSE.
• Objects: general corporate purposes and working capital.
• Promoters to retain control; no board change.

Promoters and subscription

• Promoter group to subscribe: Sunil Choksi, Himika Choksi, Stela Choksi.
• Pre-issue promoter holding: 31.48%; post-issue (fully diluted): 34.76%.
• No other promoters or directors to subscribe.

Voting status

• Voting results not provided in filing; to be announced by Oct 19, 2026.

Shareholding impact

• Post-conversion promoter stake rises about 3.28 percentage points.

Use of proceeds

• Funds earmarked for general corporate purposes, working capital, and expansion.

Governance / management

• No change in management; promoters continue in control.

Other disclosures

• No assets charged; issuance to be dematerialised; approvals required.

AGM Details

• Date and time: 18 September 2026 at 12:30 PM via VC/OAVM.
• Book closure: 11 September 2026 to 18 September 2026.
• All resolutions approved by shareholders with requisite majority.

Key resolutions and outcomes

• Adoption of audited financial statements; ordinary; passed with 99.98% in favor.
• Appointment of Sunil Choksi as Director; ordinary; passed with ~99.996% in favor.
• Re-appointment of Himika Choksi as Whole-Time Director; special; passed with ~99.996% in favor.

Director changes

• Sunil Choksi appointed as Director; retiring by rotation.
• Himika Choksi re-appointed as Whole-Time Director.

Warrant issue and approvals

• Issuance of up to 3,50,000 convertible warrants to promoter group at Rs 177 per warrant, aggregate Rs 6,19,50,000.
• Subject to shareholder approval at the ensuing EGM and regulatory authorities.
• EGM to be held Oct 17, 2026 via Video Conferencing.
• Scrutinizer appointed: CS Surabhi Agrawal for e-voting at the EGM.
• Warrants tenure 18 months from allotment; one share per warrant.
• Unexercised warrants lapse and forfeit funds if not exercised within 18 months.
• Price is Rs 177 per warrant; total issue size Rs 6.195 crore.
• Number of allottees: 3 (Sunil Choksi, Himika Choksi, Stela Choksi).
• Post-issue shareholding: Sunil Choksi 7,23,192 shares (9.89%), Himika Choksi 1,01,000 (1.38%), Stela Choksi 2,70,200 (3.69%).
• Relevant date for price determination: 17 September 2026.

AGM Details

• AGM held on 18 September 2026 at 12:30 IST via VC/OAVM.
• Venue deemed at registered office as the meeting venue.
• Remote e-voting conducted Sep 15–17; cut-off Sep 11, 2026.
• Scrutinizer appointed for e-voting; results to be declared.
• AGM duration: 12:30 to 12:42 IST.

Key Resolutions

• Ordinary: Adoption of Audited Balance Sheet and reports for FY 2026.
• Ordinary: Re-appointment of Sunil Choksi as Whole-Time Director, retiring by rotation.
• Special: Re-appointment of Himika Choksi as Whole-Time Director.

Voting Results

• Resolution 1: Voting outcome not disclosed; scrutinizer's report within 48 hours.
• Resolution 2: Voting outcome not disclosed; scrutinizer's report within 48 hours.
• Resolution 3: Voting outcome not disclosed; scrutinizer's report within 48 hours.

Dividend

• Dividend: No dividend proposed or declared.

Director Changes

• Sunil Choksi re-appointed as Whole-Time Director.
• Himika Choksi re-appointed as Whole-Time Director.

Meeting Details

• Date: Saturday, 19 September 2026
• Time: 11:30 A.M.
• Venue: Registered office of the Company

Key Agenda Items

• Consider and approve fundraising via equity shares and/or convertible securities including warrants through preferential issue.
• Other items may be considered with Chairman's permission and majority Directors, including at least one independent director.

Other Notes

Shareholder communications

• Letters dispatched to holders with unregistered emails, with annual report web link and access path.
• Draft letter enclosed for information and records.

AGM notice & online access

• 33rd AGM scheduled for 18 September 2026 at 12:30 PM via VC/OAVM.
• Annual report and AGM notice available online; physical copies on request.

Financial snapshot

• Total revenue from operations stood at ₹4,621.93 lakh.
• Profit before tax reported ₹319.46 lakh.
• Exceptional items amounted ₹75.30 lakh.
• Net profit after tax ₹196.43 lakh.
• Total comprehensive income ₹197.06 lakh.
• Basic and diluted EPS ₹2.82.
• Dividend declared: none for FY2025-26.
• Net cash from operations ₹786.48 lakh.
• Total borrowings ₹3,017.82 lakh.
• Year-end cash and equivalents ₹20.67 lakh.
• Current ratio 0.82x.
• Debt-equity ratio 1.34x.
• DSCR 1.32x.
• ROE 7.99%.
• ROCE 13.85%.
• Export earnings ₹208.71 lakh.

Capital structure & liquidity

• Borrowings split: non-current ₹1,780.99 lakh and current ₹1,236.83 lakh.
• Total borrowings ₹3,017.82 lakh.
• Current ratio 0.82x.
• DSCR 1.32x.
• Gearing ratio 1.32x.

Governance & board changes

• Ritik Pavecha appointed Independent Director on 7 Feb 2026.
• Postal ballot approved his appointment on 28 Apr 2026.
• Meenaxi Patidar resigned as Independent Director on 9 Jan 2026.
• Vyangesh Choksi re-appointed Whole-Time Director on 8 Aug 2025.
• Himika Choksi re-appointed Whole-Time Director for five years from 1 Apr 2027.
• Board met five times in FY2025-26.
• Independent Directors met on 7 Feb 2026, chaired by Abha Shastri.

Cybersecurity & IT controls

• May 22, 2025 ransomware attack; data recovered by May 31, 2025.
• Cybersecurity measures strengthened; ongoing root-cause assessment.
• No material long-term impact on operations.

AGM, e-voting & investor comms

• 33rd AGM scheduled for 18 Sept 2026 via VC/OAVM.
• Remote e-voting facility provided through CDSL.
• Notice and Annual Report available on company website.

Operations & market outlook

• Core testing sectors include pharma, food, water, and environment.
• Management aims to expand services and digital transformation.
• Industry outlook cites double-digit growth for analytical testing.