Lasa Supergenerics Ltd

AGM details

• Date and time: 30 September 2026, 9:30 IST, concluded 9:58 IST.
• Mode: VC/OAVM.
• 34 members attended via VC/OAVM.

Resolutions

• Ordinary: Adoption of Annual Accounts.
• Ordinary: Appointment of a director retiring by rotation.
• Special: Appointment of Secretarial Auditor and remuneration.
• Special: Appoint Janardan Savla as Whole-time Director for 5 years from 26 August 2026.
• Special: Donations to related and unrelated trusts including Dr. Omkar Herlekar Foundation.
• Special: Directors’/Managerial remuneration in case of inadequate profits/no profits.
• Special: To approve secured/unsecured borrowing powers and creation of charge.

Voting results

• Outcome: Voting results not disclosed in filing.
• Note: Scrutinizer's report and results to be submitted within two working days.

Director changes

• Janardan Savla appointed as Whole-time Director for 5 years from 26 August 2026.

Auditor appointments

• Appointment of Secretarial Auditor and approval of remuneration.

Related party transactions

• Donations to related/unrelated trusts including Dr. Omkar Herlekar Foundation approved.

Other material approvals

• Borrowing powers and creation of charge, including security.

Lasa Supergenerics Ltd — Trading Window closed for designated employees and their immediate relatives from October 01, 2026 till 48 hours after the declaration of Unaudited Financial Results for the quarter and half year ended September 30, 2026.

Financial snapshot

• Revenue from operations: ₹2,514.07 Lakh in FY26, ₹14,244.81 Lakh prior year.
• Total Income: ₹2,534.05 Lakh in FY26, ₹14,746.03 Lakh prior year.
• PAT: ₹-3,409.03 Lakh in FY26, ₹-1,471.31 Lakh prior year.
• EPS: Basic and diluted ₹-6.80 in FY26.
• Cash & cash equivalents: ₹28.78 Lakh at 31 Mar 2026.
• Net cash from operating activities: ₹-769.35 Lakh in FY26.
• Borrowings: ₹974.73 Lakh current; related party ₹115.62 Lakh; other loans ₹757.43/₹101.68 Lakh.
• Fire and related impairments: uninsured losses; CWIP ₹46.27 Lakh; PPE impairment ₹700 Lakh.
• Auditors flag going concern; management evaluating recovery options.

Fire impact and impairment

• Fire occurred 18 May 2025 at MIDC Lote Parshuram unit; operations halted.
• Inventories damaged ₹1,273.63 Lakh; PPE impairment ₹700.00 Lakh.
• CWIP write-off ₹46.27 Lakh; assets non-viable.
• Government grants: recognition suspended pending restoration.
• Management evaluating recovery options, including contract manufacturing or leasing.
• Insurance for affected assets not in place; claims being pursued.

Going concern & audit emphasis

• Auditors Gupta Rustagi & Co issued a qualified opinion.
• Emphasis on going concern due to sustained losses and suspension of operations.
• Management exploring funding and rebuilding strategies; no assured revival timeframe.

Contingent liabilities & tax matters

• Total contingent liabilities: ₹12,798.49 Lakh for FY2025-26.
• Income tax demands in dispute: ₹9,188.80 Lakh.
• GST demands in dispute: ₹3,588.64 Lakh.
• Sales tax disputes: ₹21.05 Lakh.

CSR overview

• Average net profits for 3 years: ₹2,502.13 Lakh.
• CSR obligation: 2% of average profit = ₹50.05 Lakh.
• FY2025-26 CSR spend: ₹0; approved budget: ₹0.

Governance & board changes

• Mr. Janardan Savala appointed as Whole-time Executive Director from Aug 26, 2026.
• Mrs. Mitti Jain appointed Company Secretary & Compliance Officer on Dec 16, 2025.
• Mr. Prathamesh Chalke resigned as WTD on Dec 31, 2025.
• Board meetings held 9 times in FY2025-26; Secretarial audit by Shivam Sharma & Associates.

Capital structure and liquidity

• Authorised capital ₹1,00,000.00 Lakh; paid-up ₹5010.12 Lakh.
• Current borrowings ₹974.73 Lakh; other borrowings include related parties and private lenders.
• Single API segment; no segment reporting required under Ind AS 108.

Operational status and outlook

• Operations suspended since May 2025; resumption contingent on statutory clearances and liquidity.
• Management evaluating options, including contract manufacturing and facility leasing.

AGM planning & approvals

• 11th AGM notice approved; AGM on Sep 30, 2026 via VC/OAVM.
• Director’s Report, Corporate Governance, and MD&A for year ended 31 March 2026 approved.
• Register of Members and Share Transfer Books to be closed Sep 23–29, 2026.
• Shravan A. Gupta & Associates appointed Scrutinizer for AGM.

Directors & secretarial matters

• Omkar Herlekar re-appointed as Director liable to retire by rotation.
• Shivam Sharma appointed Secretarial Auditor; remuneration to be fixed; subject to AGM approval.

Item(s) to be approved at AGM

• Janardan Savala to be Executive Director for five years from Aug 26, 2026; subject to approval.
• Donations up to Rs 2 crore per annum to charitable trusts including Dr Omkar Herlekar Foundation.
• Remuneration up to Rs 3 crore per annum in case of inadequate profits.
• Borrowing powers to borrow and create charges beyond paid-up capital and reserves.

Director appointment

• Appointed Mr. Janardan Kamlu Savala as Additional Director and Executive Director, Aug 26, 2026, subject to member approval.

Cessation details

• Ganesh Suresh Potdar, Whole-time Director, resigns effective 25 August 2026 due to personal commitments.
• Whole-time Director role vacated; no interim arrangements disclosed.

Board update: Q1 results

• Board approves unaudited standalone Q1 results for quarter ended 30 June 2026.
• Limited Review Report from statutory auditor for the quarter ended 30 June 2026.

Fire incident impact

• Fire at Ratnagiri C-4 unit (18 May 2025) caused uninsured asset losses and halted operations.
• Rs 2057.47 lakhs recognised as exceptional items; impairment of plant and machinery ongoing.

Going concern and recovery plan

• Management exploring contract manufacturing or leasing options; subject to regulatory approvals.
• Evaluating recovery and rebuilding strategy with potential funding arrangements.

GST liabilities

• GST demands aggregating Rs 3,810.93 lakhs contested; no provision recorded.

Government grants

• Government grant income recognition discontinued pending restoration of operations and reassessment of grant conditions.

Bank balances and cash status

• Bank balances of Rs 5.71 lakhs and fixed deposits of Rs 26.42 lakhs are dormant.
• Revenue from affected invoice suspended pending legal outcome; advance held as Force Majeure Suspense.

Financial results approved

• Unaudited standalone results for quarter ended 30 June 2026 approved.
• Limited Review Report for the same quarter issued by the statutory auditor.

Auditor remarks

• Independent Limited Review conducted; audit opinion not provided.

Regulatory and compliance disclosures

• Fire incident at Ratnagiri unit in May 2025 caused uninsured losses and halted production.
• Going concern: management exploring manufacturing/leasing options pending regulatory approvals.
• GST demands totaling Rs 3,810.93 lakhs under dispute; appeals filed; no provision recognized.
• Government grants: recognition suspended pending restoration and reassessment of grant conditions.
• Revenue on a destroyed-in-transit invoice suspended; advance held as 'Force Majeure Suspense' liability.
• Impairment of tangible assets considered due to damage; exact extent pending inspection.
• Bank balances and fixed deposits dormant; confirmations pending.