Mercury Laboratories Ltd

Director cessation

• Dilip Ramanlal Shah ceases as Non-Executive Director after AGM conclusion on Sep 28, 2026.
• Reason: non-approval of reappointment by members at AGM.
• Also ceases as CSR Committee member from the same date.

AGM Details

• Date, time, mode: 28 Sep 2026, 11:30 IST, via Video Conferencing/OVAM.
• Shareholders on record: 1,356; attendees included 9 promoters and 21 public via VC.

Dividend

• Dividend of Rs 3.50 per equity share approved.

Key Resolutions & Outcomes

• Item 1: Adoption of audited financial statements for FY ended 31 March 2026; ordinary; passed.
• Item 2: Dividend of Rs 3.50 per equity share; ordinary; passed.
• Item 3: Re-appointment of Dilip R. Shah by rotation; ordinary; not passed.
• Item 4: Remuneration to Ms. Janki R. Shah exceeding 50% cap; ordinary; not passed.
• Item 5: Remuneration to Ms. Janki R. Shah; ordinary; not passed.
• Item 6: Remuneration to Mr. Saurabh Mittal; ordinary; not passed.
• Item 7: Consultancy fees to Mercury Marketing & Consultancy Services; ordinary; passed.
• Item 8: Continuation of Jayantilal Raval beyond age 75; special; passed.
• Item 9: Ratification of remuneration payable to Cost Auditor for 2026-27; ordinary; passed.

Director & Governance Changes

• Dilip R. Shah re-appointment by rotation failed.
• Jayantilal Raval extension beyond age 75 approved.

Auditors

• Cost Auditor remuneration ratified for 2026-27.

Other Approvals

• Approval of consultancy fees to Mercury Marketing & Consultancy Services.

AGM Details

• Held on 28 Sep 2026 from 11:30 to 11:59 IST via Video Conferencing.
• Voting cut-off: 21 Sep 2026; remote e-voting 24–27 Sep 2026.
• Scrutinizer appointed: Nrupang Dholakia of M/s Dholakia & Associates LLP.

Key Resolutions

• Res 1 (Ordinary): Adoption of audited financial statements and reports.
• Res 2 (Ordinary): Dividend of ₹3.50 per equity share.
• Res 3 (Ordinary): Re-appointment of Dilip R Shah on rotation.
• Res 4 (Special): Remuneration to Ms. Janki R Shah exceeding 50% of total.
• Res 5 (Special): Remuneration to Ms. Janki R Shah.
• Res 6 (Ordinary): Remuneration to Mr. Saurabh Mittal, Chief Operating Officer.
• Res 7 (Ordinary): Consultancy fees to MercuryMarketing & Consulting Services.
• Res 8 (Special): Continuation of Jayantilal Raval beyond age 75.
• Res 9 (Ordinary): Ratification of remuneration payable to Cost Auditor for FY 2026-27.

Voting Status

• Res 1: Adoption of audited financial statements; results not disclosed.
• Res 2: Dividend of ₹3.50 per share; results not disclosed.
• Res 3: Re-appointment of Dilip R Shah; results not disclosed.
• Res 4: Janki Shah remuneration exceeding 50%; results not disclosed.
• Res 5: Janki Shah remuneration; results not disclosed.
• Res 6: Saurabh Mittal remuneration; results not disclosed.
• Res 7: MercuryMarketing consultancy fees; results not disclosed.
• Res 8: Jayantilal Raval continuation beyond 75; results not disclosed.
• Res 9: Cost Auditor remuneration; results not disclosed.

Dividend

• Dividend per share: ₹3.50.

Directors

• Dilip R Shah to be re-appointed.
• Jayantilal Raval to continue as Non-Executive Independent Director beyond age 75.

Auditors

• Remuneration payable to Cost Auditor ratified for FY 2026-27.

Related Party Transactions

• No material related party transactions disclosed.

Mercury Laboratories Limited: Trading window closed from Oct 01, 2026 till 48 hours after the announcement of the unaudited financial results of the Company for the quarter and half year ended on September 30, 2026.

Appointment of Manager-HR

• Reason: Appointment of Manager-HR.
• Appointment: Jaydeepsinh Raj appointed Manager-HR, effective 03 September 2026, full-time employment.
• Aged about 35; Bachelor's in Social Work.
• HR experience: over 8 years across employee relations, talent management, recruitment, and operations.
• Previous employers: IDMC Limited and Sudeep Pharma Private Limited.
• Disclosure: no relationships with other directors.

Financial snapshot

• Revenue from operations: ₹7,593.67 Lakhs in FY2025-26.
• Profit after tax: ₹483.40 Lakhs.
• Profit before tax: ₹663.72 Lakhs.
• Earnings per share: ₹40.28.
• ROE: 8.32%.
• Operating margin: 14.12%.

Sales mix & growth

• Domestic revenue: ₹5,121.35 Lakhs.
• Export revenue: ₹2,472.32 Lakhs.
• Export growth: 18.62% YoY.
• Revenue growth YoY: 1.10%.
• Employees: 510 permanent.

Capital structure & liquidity

• Equity capital: ₹120 Lakhs.
• Total debt: ₹740.88 Lakhs; Net debt: ₹660.55 Lakhs.
• Cash & cash equivalents: ₹618.28 Lakhs.
• Total equity: ₹5,807.63 Lakhs.

Dividend & returns

• Final dividend: ₹3.50 per equity share.
• Record date: 21 Sep 2026; Payable by 27 Oct 2026.
• Dividend payout: ₹42.00 Lakhs.

Governance & audits

• Board size: 6; Independent directors: 2.
• Chairperson since 15 May 2025: Sanjay Patel.
• Statutory auditors: Naresh & Co; Cost auditors: V.M. Patel & Associates.
• Secretarial auditors: Dholakia & Associates LLP.
• Board meetings in FY2025-26: 4.

Growth initiatives & risks

• Injectable facility expansion: ₹30 Crores; 75 million units capacity at Jarod.
• Export market expansion; focus on regulated/semi-regulated markets.
• Risks: price controls, FX fluctuations, supply chain disruptions.

CSR & unclaimed dividends

• CSR expenditure: ₹4.54 Lakhs; voluntary.
• Policy available on website.
• Unclaimed dividends: 1,600 shares moved to IEPF; ₹91,497 remitted.

Appointment: Sunil Sharma - HOD Injectables

• Sunil Sharma appointed HOD, Dept.-Injectable Production; 45, B.Pharm; 19+ years in injectable production; full-time; effective 21 Aug 2026.

Resignation: Seema Salvi from SMP and HOD Injectables

• Seema Salvi resigns as SMP and HOD-Injectable Production for better opportunities and career advancement; cessation 21 Aug 2026.

Dividend proposal & record date

• Board recommends dividend of Rs 3.5 per share (35%) for FY2025-26, subject to AGM approval.
• Record date fixed at Sept 21, 2026.

TDS framework & shareholder details

• TDS on dividends applies at prescribed rates by resident/non-resident categories.
• Resident individuals: no TDS if total annual dividend per folio ≤ Rs 10,000.
• PAN-Aadhaar linkage required; non-linkage may lead to 20% TDS.
• Updated PAN, email, mobile, and bank details must be provided via RTA/DP.
• Dividends paid electronically; physical instruments not used.