Sudarshan Pharma Industries Ltd

Sudarshan Pharma Industries Ltd — Closure of Trading Window

AGM details

• AGM held 22 September 2026 at 3:00 PM via VC/OAVM.
• Remote e-voting: 19–21 Sep 2026; AGM e-voting available 15 minutes post AGM.
• e-voting cut-off: 15 Sep 2026.
• Shareholders on cut-off: 1,250; attendees via VC: 15.

Resolutions and outcomes

• Ordinary: Adoption of audited financial statements for 2025-26; passed with requisite majority.
• Ordinary: Re-appointment of Dr Anil Ghogare by rotation; passed with majority.

Director changes

• Director re-appointment approved: Dr Anil Ghogare.

Voting statistics

• 18 members cast votes; 7,76,33,810 shares voted; 100% in favour per resolution.

AGM Details

• AGM held on 22 September 2026 at 3:00 PM via VC/OAVM.

AGM Details

• AGM held on 22 September 2026 at 3:00 PM via VC/OAVM.
• Notice of AGM dated 12 August 2026.
• Voting results to be declared within two working days.

Key Resolutions

• Adopt audited standalone and consolidated financial statements for year ended 31 March 2026.
• Re-appointment of Dr. Anil Ghogare as director (retiring by rotation).

Voting / Outcome

• Outcome of resolutions not disclosed in the filing.

Acquisition details

• Target: Med Therapy Biotechnology Inc., USA, a biotechnology company.
• Size/scale: not disclosed.
• Related party: promoter group to acquire stake via 9.50% SPIL and 1.50% each by promoters; total 12.50%.
• Industry: Biotechnology/Healthcare.
• Purpose and rationale: acquire minority equity stake; due diligence in progress.
• Regulatory approvals: not specified; due diligence and pending board decisions.
• Timeline: not specified; update to follow.
• Consideration: not disclosed.
• Shareholding details: 12.50% total (9.50% SPIL; 1.50% each by Hemal Mehta and Sachin Mehta).
• Background: Med Therapy Biotechnology Inc., USA; products/services and incorporation date not disclosed.

Encumbrance on promoter shares

• Creation of pledge on promoter group equity shares of the company.
• Promoter group members include Devangi Hemal Mehta; Namrata Sachin Mehta; Hemal Mehta HUF; Sachin V Mehta HUF.

Release of promoter pledge

• Release of pledge on 2,000,000 promoter shares held by Hemal Mehta.

Financial snapshot

• Standalone revenue from operations: Rs 66,749.85 Lakhs for FY26; up from FY25.
• Standalone EBITDA: Rs 5,737.21 Lakhs; PAT: Rs 2,198.16 Lakhs.
• Consolidated revenue from operations: Rs 70,305.65 Lakhs; Consolidated PAT: Rs 2,342.22 Lakhs.
• Standalone Basic EPS: Rs 0.91; Diluted Rs 0.90; Consolidated EPS not shown here.

Capital structure & liquidity

• Warrant conversion: 9,00,000 warrants converted to 90,00,000 equity shares; paid-up Rs 2,496.59 Lakhs.
• Board approved US$20m FCCB issue; US$10m issued; funds received in 27–4 May 2026 period.
• Net debt to adjusted equity: 3.10x; Current ratio: 1.08x; Debt-equity: 1.98x.
• Total debt (carrying): Rs 28,108.95 Lakhs; cash & cash equivalents: Rs 10.90 Lakhs (standalone).

Governance & risk

• Board changes: Dr. Umesh Luthra ceased Oct 18, 2025; Dr. Vijay Ojha appointed; Sanat Bhat and Vinay Pandey joined May 2026.
• Statutory auditors: M/s NGST & Associates; Internal & Secretarial auditors engaged; no material observations.
• GST inspection in Feb 2026; no material impact on financials or operations.
• Robust internal controls; audit committee oversight; compliance with SEBI/LodR.

Strategic developments & operations

• Acquisitions during FY26: Ishwari Healthcare (51%), Cibachem Dubai (100%), Sudarshan Poland (100%).
• Sudarshan Maven Pharma (70%) and Singapore SPILS (100%) acquisitions completed; growth in global footprint.
• Subsidiaries focusing on APIs and intermediates; R&D expansion into oncology injectables, ophthalmic, and solids.
• New Telangana API facility to expand capacity and accelerate API portfolio.

Regulatory, risks & CSR

• GST survey Feb 2026; vendor non-compliance queries; no material financial impact.
• Tax disputes disclosed; GST/Income-tax matters with provisions; ongoing regulatory disclosures.
• CSR spend: Rs 30.83 Lakhs (2% average net profit); Rs 11.20 Lakhs unspent carried forward; policy on website.

Subsidiaries performance

• Ratna Lifesciences: FY26 revenue Rs 3,530.23 Lakhs; EBITDA Rs 139.28 Lakhs; Networth Rs 68.34 Lakhs.
• Life Science Chemical: FY26 revenue Rs 53.08 Lakhs; EBITDA Rs 50.51 Lakhs; Networth Rs 284.64 Lakhs.
• Ishwari Healthcare: FY26 revenue Rs 746.21 Lakhs; EBITDA Rs 165.07 Lakhs; PAT Rs 13.13 Lakhs; Networth Rs 248.19 Lakhs.

Audit & disclosures

• Secretarial audit: No material observations; Stack of compliance unremarkable; Form AOC-1 filed for subsidiaries.
• Ind AS transition completed; exemptions applied; reconciliations and disclosures provided.
• Higher-level governance framework with multiple board committees and risk management processes.

CSR details

• CSR spent Rs 30.83 Lakhs; 2% of average net profit; ongoing projects reported; 11.20 Lakhs unspent carried forward.
• CSR policy available on company website; Shree Hiraba Charitable Trust funded rural development and health.