Valiant Laboratories Ltd

Issue overview

• Type: rights issue of equity shares.
• Total issue size reported; no revision or undersubscription.
• Objectives: promoter loan adjustments, promoter loan repayment, capex, GCP, and issue expenses.

Utilisation of proceeds

• Utilisation as disclosed in offer document: yes; no material deviation.
• Capex: delay noted; carry-forward permitted under the offer terms.
• GCP: no utilisation in the period.
• Unutilised funds: carry-forward provision; not separately reported.
• Means of finance: unchanged.

Governance and compliance

• All government/statutory approvals for the objects obtained.
• MA report reviewed by Audit Committee and Board.
• No major deviation from earlier MA reports observed.
• No unfavorable events affecting viability reported.

General Corporate Purpose

• Nil GCP utilization in the period.

Board and KMP changes

• MD Santosh Vora re-appointed for five years from Feb 6, 2027; subject to AGM Special Resolution.
• Profile: B.Com; PGPM Family Business (ISB); 8+ years in chemical and pharmaceutical sectors.
• Relationship: Santosh Vora is son of Shantilal Vora.
• Not debarred: Santosh Vora not debarred by SEBI or authorities.
• Independent Director Sonal Vira re-appointed for five years from Feb 16, 2027; AGM Special Resolution.
• Profile: Commerce graduate and CA with 15+ years in corporate banking.
• Not debarred: Sonal Vira not debarred by SEBI or authorities.
• Continuation of Shantilal Vora as Non-Executive Non-Independent Director on turning 75, effective Nov 5, 2027; Special Resolution.
• Profile: Over 45 years in chemical/pharmaceutical industry; sales/marketing and growth initiatives.
• Relationship: Shantilal Vora is father of Santosh Vora.
• Not debarred: Shantilal Vora not debarred by SEBI or authorities.

Key disclosures

• Audited standalone and consolidated results for quarter ended 30 June 2026 and year-to-date approved.
• Audit Report by Raman S. Shah & Co. taken on record.
• Audit Committee reviewed results on 10 Aug 2026; Board approved the same day.
• Consolidated results include subsidiary Valiant Advanced Sciences Private Limited.
• Auditors state the standalone results present true and fair view under Ind AS 34.
• Consolidated results' opinion not modified due to subsidiary inclusion.

Dematerialisation status

• Regulation 74(5) not applicable as all securities are in dematerialised form.
• No dematerialisation, mutilation, or cancellation requests were received during quarter ended June 30, 2026.