Kobo Biotech Ltd

Dematerialisation status

• Dematerialisation requests processed; securities listed on the exchange where existing issues are listed.
• Certificates received for dematerialisation mutilated and cancelled after due verification.
• Depository name substituted as registered owner in the register of members within 30 days.

Resolution Plan Implementation Status

• NCLT Hyderabad approved the Resolution Plan on 11 May 2026 for Kobo Biotech.
• Successful Resolution Applicant is Beaufond Industries Limited.
• 60-day implementation window from approval ends on 10 July 2026.
• As of disclosure date, implementation has not been completed.
• Monitoring Committee has been convened to review status and next steps.
• Company will inform the stock exchange of material developments.
• No monetary figures disclosed in this update.

CIRP Update

• Kobo Biotech entered CIRP on 13 Aug 2024; JM Financial ARC filed under Section 7.
• Interim Resolution Professional Ravindra Chaturvedi appointed; RP Namrata Amol Randeri appointed 17 Jan 2025.
• 32nd AGM planned for 24 Jul 2026 via VC/OAVM to approve FY2024-25 financials.
• Resolution Plan of Beaufond Industries approved by NCLT Hyderabad on 11-12 May 2026.
• RP managing affairs; Board powers suspended; standalone statements prepared under CIRP.
• Negative net worth as of 31 Mar 2025: equity at (1,381,401) thousand.
• Total assets 715,901 thousand; total liabilities 2,097,302 thousand; equity negative.
• Related party borrowings include Arch Pharmalabs; outstanding balances and transactions disclosed.
• Non-payment of listing fee delay noted; circulars encourage electronic communications.

Status & CIRP

• CIRP admitted on 13 August 2024; moratorium active.
• IRP Ravindra Chaturvedi appointed; replaced by Namrata Randeri on 17 Jan 2025.
• Board powers suspended; RP manages company as going concern.
• May 11, 2026: NCLT approves Beaufond's resolution plan.
• Solapur plant non-operational; no manufacturing in FY24.
• 31st AGM via VC/OAVM; RP reports adopted.

Financial highlights FY2023-24

• Revenue from operations nil; Other income ₹0.152 mn; Total income ₹0.152 mn.
• Total expenses ₹49.44 mn; EBITDA loss ₹49.29 mn; Net loss ₹49.29 mn.
• EPS ₹-2.07; YoY loss FY2023 ₹55.53 mn.
• FY24 revenue nil; FY23 loss ₹55.53 mn.

Capital structure & liquidity

• Authorized share capital ₹40 cr; issued and paid-up ₹23.825 cr.
• Promoter Arch Pharmalabs holds 44.95% equity.
• Total equity negative ₹1,329.10 mn.
• Total liabilities ₹2,043.04 mn; current liabilities ₹1,678.22 mn.
• Non-current borrowings ₹317.14 mn; current borrowings ₹1,079.77 mn.
• Loans largely assigned to ARC; interest costs not provided.

Operations & assets status

• Solapur plant non-operational; no manufacturing in FY24.
• Single operating segment: Pharmaceuticals API.
• PPE ₹335.16 mn; total assets ₹713.94 mn.
• Cash & equivalents ₹1.377 mn; bank balances ₹0.429 mn; total ₹1.805 mn.

Related party & governance

• Related party transactions with Arch group; balances disclosed.
• Key management personnel: Ajit Kamath, Rajendra Kaimal, Abhishek Buddhadev, Urja Shah.
• Remuneration to directors nil; no sitting fees paid.
• Secretarial audit flagged compliance gaps; internal audit not instituted.
• CSR committee exists; no CSR activities due to losses.

Resolution plan & outlook

• Resolution Plan approved; revival as going concern.
• Outlook positive long-term; dependent on plan implementation and approvals.
• RP and management optimistic about stakeholder value.

Dividends & compliance

• Dividend for FY24 not recommended.
• Listing fees delayed; FY24-25 payment pending.
• Governing compliance: CIRP oversight; governance under Resolution Professional.

Tribunal Approval Overview

• Resolution plan approved by the tribunal for Kobo Biotech Limited.
• Beaufond Industries Limited is the successful resolution applicant.

Key Plan Features

• Beaufond PLC becomes the new promoter through fresh issuance.
• Monitoring Committee will manage day-to-day affairs until handover.
• Suspended board will be replaced by the Monitoring Committee.
• No shares will be issued to existing promoters or promoter group.
• Public shareholders are reduced to 2% on a fully diluted basis.
• Financial creditors receive equity upside of about 3% each in both entities.

Capital Structure

• Pre-plan share capital was 2,38,25,000 shares, with 55.05% public holding.
• Post-plan total share capital becomes 3,93,47,700 shares.
• Beaufond PLC receives 2,25,20,231 shares, or 57.23% holding.
• Public shareholders receive 1,48,60,084 shares, or 37.77% holding.
• Retained public shareholders hold 7,86,954 shares, or 2.00%.
• Financial creditors receive 11,80,431 shares, or 3.00%.

Creditor Treatment

• Unpaid CIRP costs of INR 2.30 crore will be paid in full.
• Secured and unsecured financial creditors receive INR 67.78 crore.
• Workmen and employees receive INR 1 lakh.
• Government and statutory dues receive INR 1 lakh.
• Other operational creditors receive INR 1 lakh.
• Total resolution amount is INR 70.11 crore.

Financial Impact

• Pre-resolution net worth was INR 132.91 crore.
• Pre-resolution total assets were INR 71.39 crore.
• Beaufond Industries Limited reported net worth of INR 333.18 crore.
• Post-CIRP net worth will be determined after implementation.

Implementation

• Payments are due upfront within 60 days from tribunal approval.
• Plan implementation includes merger and demerger under the composite scheme.
• Corporate debtor retains assets until the transfer date and scheme completion.

Other Material Information

• All liabilities, dues, and claims against the corporate debtor stand extinguished after implementation.
• No additional liabilities are specified for the incoming investor.
• Delisting is not applicable.
• Public shareholding remains above minimum public shareholding requirements.