Shivalik Rasayan Ltd

AGM Details

• AGM date/time/mode: 28 September 2026, 1:00 PM, in-person at Dehradun hotel.
• Record date for voting: 21 September 2026; total shareholders on record: 15,355.

Key Resolutions

• Resolution 1 (Ordinary): Adopt Audited Financial Statements for year ended 31 March 2026. Passed with 100% in favour.
• Resolution 2 (Ordinary): Declare final dividend on equity shares for FY2025-26. Passed.
• Resolution 3 (Ordinary): Re-appoint Suresh Kumar Singh as director by rotation; Passed with 99.999% in favour; 578 invalid.
• Resolution 4 (Ordinary): Re-appoint Dr. Vimal Kumar Shrawat as director by rotation; Passed with 99.999% in favour; 260 invalid.
• Resolution 5 (Special): Approve borrowing powers of the company; Passed with 99.999% in favour; 260 invalid.
• Resolution 6 (Special): Approve creation of charge on assets to secure borrowings; Passed with 99.999% in favour; 260 invalid.
• Resolution 7 (Ordinary): Ratify cost auditors' remuneration for FY2027; Passed with 99.999% in favour.

Dividend Details

• Final dividend declared for FY2025-26; per-share amount not disclosed.

Director Changes

• Suresh Kumar Singh re-appointed as director by rotation.
• Dr. Vimal Kumar Shrawat re-appointed as director by rotation.

Auditor Remuneration

• Cost Auditors' remuneration for FY2027 ratified.

Acquirer/Target and instrument

• Target: Shivalik Rasayan Ltd; business description not disclosed in filing.
• Acquirer: Ginnerup Capital ApS to acquire warrants of the company.
• Regulatory basis: disclosures filed under SEBI Reg 29(1) for substantial acquisition.
• Instrument: warrants of Shivalik Rasayan Ltd.
• Filing date: 29 September 2026.

AGM Details

• AGM held 28 Sep 2026, 1:00 PM–2:05 PM, at Dehradun; physical meeting with remote e-voting.

Dividend

• 10% final dividend on equity shares for FY 2025-26 proposed.

Resolutions

• Adoption of Audited Financial Statements for FY ended 31 March 2026 and reports.
• Declaration of 10% final dividend on equity shares for FY 2025-26.
• Re-appointment of Suresh Kumar Singh on retirement by rotation.
• Re-appointment of Dr. Vimal Kumar Shrawat on retirement by rotation.
• Borrowing powers of the company approved.
• Create charge/ security on assets for borrowings.
• Ratification of Cost Auditor remuneration for FY 2027.

Voting Status

• Outcome not disclosed; results to be announced after scrutinizer's report.

Directors

• Two directors up for rotation: Suresh Kumar Singh and Dr. Vimal Kumar Shrawat.

Auditors

• Cost Auditor remuneration for FY 2027 to be ratified.

Shivalik Rasayan Limited: Closure of trading window from October 01, 2026 until the declaration of Un-Audited Financial Results for the quarter ending September 2026 and the two days thereafter.

Capital actions approved

• Allotted 2,82,000 equity shares to public at Rs 250; paid-up capital becomes Rs 8,01,61,825 (1,60,32,365 shares).
• Allotted 9,47,990 fully convertible warrants at Rs 250; aggregate Rs 23,69,97,500; fully diluted capital Rs 8,49,01,775 (1,69,80,355 shares).
• Allottee split for warrants: Growel Remedies 4,28,000; Bishnoi Exports 1,20,000; Ginnerup Capital 3,99,990.

Financial performance

• Standalone revenue Rs 17,023.35 Lakhs; up 14.07% YoY.
• Standalone PAT Rs 817.25 Lakhs; down 41.06% YoY.
• Consolidated revenue Rs 36,800.32 Lakhs; up 18.03% YoY.
• Consolidated PAT Rs 1,796.88 Lakhs; down 18.80% YoY.
• Standalone EPS Rs 5.19.
• Final dividend Rs 0.50 per share; 10% payout if approved.
• AGM on 28 Sep 2026; payout by 15 Oct 2026.

Dividend & AGM

• Dividend: 10% final dividend recommended; payable after AGM.
• Record date: 21 Sep 2026; Register closed 22-28 Sep 2026.
• AGM venue: Dehradun; remote e-voting 25-27 Sep 2026.

Operational highlights

• NCE-1: two molecules developed; first product delivered Apr 2026.
• Dahej-III capacity 2,500 MT; potential Rs 200 Cr revenue in 2 years.
• CDMO: US-based API programs; interest from Japan and Korea.
• Dahej-II expansion; DSIR-recognized R&D center; US FDA-approved facility.

R&D & CDMO strategy

• R&D spend total Rs 949.37 Lakhs; capex Rs 87.00; revenue exp Rs 862.37.
• R&D to become a profit centre; pipeline across agro, APIs, CDMO.
• First NCE-1 project delivered; expanding complex chemistry capabilities.

ESG & sustainability

• Energy intensity 0.0000222803 GJ/turnover; Water intensity 0.0000441687 KL/turnover.
• Total water withdrawal 75,190 KL; waste 16.377 MT; hazardous 16.079 MT.
• ZLD implemented at Dahej-II (ETP, MEE, STP capacities).
• Dahej-III land available at 50,000 sq m; expansion potential.

Governance & risk

• Board: 11 directors; 6 Independent; governance framework with multiple committees.
• Audit Committee met 5 times; quorum issue noted; NSE/BSE warning letters issued.
• CSR budget methodology flagged; management to align with statutory approach.
• POSH compliance gap identified; management ensuring full compliance.

CSR & stakeholder impact

• CSR spend Rs 25.07 Lakhs; average net profit Rs 12.53 Crores; 2% CSR obligation.
• CSR project: Maharaja Agrasen Hospital Charitable Trust; 25 Lakh allocation.
• CSR policy and initiatives published on company website.

AGM Details

• AGM date/time: 28 Sep 2026, 1:00 PM; mode: physical in Dehradun.
• Record date: 21 Sep 2026; book closure 22–28 Sep 2026 (inclusive).
• Dividend eligibility: names on Register as of 21 Sep 2026.
• Dividend: final 10% (₹0.50 per share) proposed, payable by 15 Oct 2026 if approved.
• Remote e-voting window: 25–27 Sep 2026; cut-off date 21 Sep 2026.

Resolutions put to vote

• Ordinary: adopt Standalone and Consolidated financial statements with reports.
• Ordinary: declare final dividend for FY 2025-26.
• Ordinary: re-appoint Suresh Kumar Singh (retiring by rotation).
• Ordinary: re-appoint Dr. Vimal Kumar Shrawat (retiring by rotation).
• Special: borrowings powers up to Rs 200 crore.
• Special: creation of charge on assets up to Rs 200 crore.
• Special: ratify cost auditor remuneration for FY27 of Rs 1.0 lakh plus expenses.

Dividend details

• Final dividend proposed: 10% (₹0.50 per equity share).
• Dividend payout date, if approved: on or after 15 Oct 2026, subject to tax withholding.

Directors & Auditors

• Directors seeking re-appointment: Suresh Kumar Singh; Dr. Vimal Kumar Shrawat.
• No other director changes announced for this AGM.
• Secretarial Auditor: AMJ & Associates (5-year term follow-up).
• Statutory Auditor: no change announced in this section.

Material related party transactions

• Medicamen Biotech Limited (associate): Sales ₹1,345.40 lakh; Purchases ₹7.49 lakh.
• Growel Remedies Limited (holding company): Rent ₹14.16 lakh.
• Medicamen Life Sciences Pvt. Ltd.: Advances ₹280.00 lakh; Sales ₹184.58 lakh.
• Remuneration to Directors/KMP from associates: MD ₹208.00 lakh; CFO ₹15.54 lakh; CS ₹10.28 lakh; Suresh Singh ₹33.60 lakh; Ashwani Sharma ₹62.88 lakh.

Other material approvals

• Record date for dividend payments reiterated; dividend tax withheld as applicable.
• Digital voting framework and cut-off dates are specified in the AGM notice.

Resolutions proposed

• Special Resolution: Issuance of up to 3,72,000 equity shares to public on a preferential basis.
• Special Resolution: Issuance of up to 9,48,000 fully convertible warrants to promoter group and public on a preferential basis.

Voting status

• Voting results not announced; Scrutinizer report to determine approval.

Shareholding impact

• Impact on shareholding will depend on allotment; no final percentages disclosed.

Other notes

• EGM held Aug 20, 2026; meeting details and scrutinizer appointed for e-voting.

Shareholding / Insider Disclosure

• Former director Sanjay Bansal sold 25,000 equity shares on the open market.
• Pre-disposal holdings were 50,000 shares (0.32%), post-disposal holdings 25,000 shares (0.16%).
• Trade date: 21 August 2026; sale value: Rs 6,831,455.
• On-market sale; exchanges: NSE and BSE.