Parmax Pharma Ltd

AGM Details & Proceedings

• Date, time, mode: Sep 29, 2026 at 3:30 PM via VC/OAVM.
• Deemed venue: Registered office, Rajkot, Gujarat.
• Chairman: Umang Gosalia; meeting chaired by MD with CS Riddhesh Jain conducting.
• Ordinary business resolutions 1–6 placed for adoption/approval.
• Resolution 1: Adopt Audited Standalone Financial Statements and reports.
• Resolution 2: Re-appointment of Umang Gosalia (retire by rotation).
• Resolution 3: Appointment of Dhiren Shah as Non-Executive Director.
• Resolution 4: Appointment of Sunil Shah as Non-Executive Director.
• Resolution 5: Appointment of Anjana Shah as Independent Director.
• Resolution 6: Appointment of Ashish Shah as Non-Executive and Independent Director.
• Voting: Remote e-voting from Sep 26–28; voting during meeting for 15 minutes.
• Results: Consolidated results to be displayed on company and Purva websites and intimated to BSE.
• Meeting concluded at 3:52 PM.

Parmax Pharma Ltd — Trading window closure from October 01, 2026 till 48 hours after the declaration of the financial results for the quarter and half year ending on September 30, 2026

Fire incident details

• Major fire occurred at the Rajkot plant at 2:00 a.m. on September 28, 2026, now controlled.
• Two employees injured and hospitalised; no fatalities reported.
• Damage extent under assessment; damage covered by insurance.
• Annexure A notes loss extent to be evaluated; no production impact disclosed.
• Company will inform stock exchange of further material developments.

Financial performance

• Revenue from operations ₹1,211.16 Lakhs; down 57% YoY to ₹2,820.39.
• Total income ₹1,215.84 Lakhs; down from ₹2,824.35.
• PAT ₹-415.91 Lakhs; previous year ₹-209.40.
• EPS ₹-11.00; down from ₹-6.00.
• PBDIT ₹-359.23 Lakhs; prior year ₹29.41.
• No dividend recommended for FY2025-26.
• Cash and cash equivalents ₹64.97 Lakhs at year-end.

Capital structure & liquidity

• Authorised share capital increased to ₹10 crore (June 2026).
• Paid-up capital ₹3.7413 crore; 37,41,300 shares.
• Long-term borrowings ₹11.52 crore.
• Current liabilities include trade payables ₹14.34 crore and other current liabilities ₹7.87 crore.
• Net cash from financing activities ₹3.8146 crore.
• Net cash from operating activities: outflow ₹2.36 crore.

Dividend & capital allocation

• Dividend not recommended; profits insufficient.
• No transfer to general reserves.

Governance & board

• Managing Director: Umang Gosalia.
• Aug 14, 2026: Additional Directors Dhiren Shah (Non-Executive Chair) and Sunil Shah.
• May 27, 2026: Pradeep Gosalia and Salma Thobhani appointed; Thobhani resigned Aug 14, 2026.
• Sep 29, 2026 AGM: Anjana Paresh Shah and Ashish Atmaram Shah proposed as Independent Directors for 5 years.
• Audit Committee: 5 meetings; Chair: Nikhil Uchat.
• Secretarial Audit: Samsad Alam Khan; three qualifications.

Audits & internal controls

• Statutory auditors: BA Shah & Co; three qualifications in report.
• Internal audit not conducted in FY2025-26.
• Internal financial controls deemed adequate and operating.
• Related party transactions at arm's length; no material RPT.
• Secretarial audit: three qualifications.

Industry context & outlook

• MD&A outlines macro trends; FY2025-26 revenue declined.
• Global pharma market valued ~USD 1,738B in CY2025; growth ~6.1% to 2033.
• India domestic pharma market ~USD 60B in 2026; exports ~USD 31.11B in 2025-26.

CSR & compliance

• CSR not applicable in FY2025-26; no CSR committee.
• Whistle blower policy exists; accessible on site.

AGM details

• AGM date and time: 29 September 2026 at 3:30 PM IST.
• Mode: VC/OAVM.
• Cut-off date for e-voting eligibility: 22 September 2026.
• Remote e-voting window: 26–28 September 2026 (9:00 AM–5:00 PM).

Key resolutions

• Adoption of Audited Standalone Financial Statements for FY 2025-26.
• Re-appointment of Umang Gosalia as Director liable to retire by rotation.
• Appointment of Dhiren Chandulal Shah as Non-Executive Director and Chairman.
• Appointment of Sunil Chinubhai Shah as Non-Executive Director.
• Appointment of Anjana Paresh Shah as Independent Director for five years.
• Appointment of Ashish Atmaram Shah as Independent Director for five years.

Director changes

• Umang Gosalia re-appointed as Director by rotation.
• Dhiren Shah appointed Additional Director on Aug 14, 2026; to serve as Non-Executive Chairman.
• Sunil Shah appointed Additional Director on Aug 14, 2026; Non-Executive Director.
• Anjana Shah appointed Independent Director for five years from Sep 29, 2026.
• Ashish Shah (Ashish Atmaram Shah) appointed Independent Director for five years from Sep 29, 2026.

Parmax Pharma Ltd — Reg 29(2) disclosure

• Target Company: Parmax Pharma Limited.
• Disclosing party: Acquirers Dhiren Shah and Sunil Shah; PACs 1–10; promoter group.
• Transaction type: Preferential allotment of equity shares and warrants.
• Pre-holding: 21,70,164 shares (58.01% voting rights).
• Equity shares acquired: 22,80,444 (25.27% of voting capital).
• Warrants allotted: 17,16,574 (19.02% of diluted voting capital).
• Mode: Preferential Allotment; Date: 29 August 2026.
• Post-holding: Voting shares 44,50,608 (49.32%); Warrants 17,16,574 (19.02%).
• Total post-transaction: 61,67,179 (68.34% diluted).
• Equity capital before: 37,41,300 shares.
• Equity capital after: 68,78,886 shares.
• Total diluted capital after: 90,24,031 shares.

Promoter reclassification under SEBI LODR

• Open Offer under SEBI LODR proposes promoter and promoter group reclassification post-completion.
• Acquirers and PACs collectively acquire 1,152,450 shares (30.80%).
• Share Purchase Agreement dated 08 June 2026 for acquisition of 30.80% stake.
• Post-completion, PAC 2 and PAC 9 to be Promoters; others to form Promoter Group.
• Erstwhile promoters reclassified to Public category under Reg 31A(5).
• Undertakings confirm compliance with Reg 31A(3)(b) and 31A(3)(c)(ii)&(iii).
• Conditions include not holding over 10% voting rights, no control, and no board representation.
• Also, no special rights, no KMP role, and not a wilful defaulter or fugitive.
• Listing entity to avoid trading suspension and no outstanding dues to Board, exchanges, or depositories.
• Intimation is informational; completion status remains contingent.

Post Offer Advertisement details

• Post Offer Advertisement published for open offer to acquire up to 23,46,250 equity shares.
• Acquirers: Dhiren Shah and Sunil Shah, with PACs.
• Open Offer represents 26% of expanded voting share capital.
• Post Offer Advertisement dated 22 Aug 2026; published 24 Aug 2026.
• Newspaper publications: Financial Express English all editions; Jansatta Hindi all editions.
• Gujarati edition: Financial Express Ahmedabad; Marathi edition: Mumbai Lakshdeep.
• Manager to Open Offer: Fedex Securities Private Limited; website dissemination.