Outcome of Board Meeting dated 12th May, 2026 to consider and approve Intimation of Board Meeting to consider and approve the Audited Financial Results of the Company for the fourth quarter ....
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The Board appointed Mr. Amit Mahla as CEO effective May 12, 2026, following the resignation of Mr. Umesh Manohar Kunte from the Managing Director & CEO position w.e.f December 18, 2025. The company reported Q4 FY26 revenue of Rs. 8586.34 lakhs but posted a loss of Rs. 2143.44 lakhs due to negative other income. Full year FY26 saw a net loss of Rs. 149.47 lakhs versus profit of Rs. 1720.08 lakhs in FY25, with revenue declining to Rs. 33359.81 lakhs from Rs. 34576.80 lakhs. The Board recommended a final dividend of Rs. 5 per share (50% on Rs. 10 face value). Statutory auditors L.B. Jha & Co. issued an unmodified audit opinion. PwC Services LLP and S. Gupta & Co. were re-appointed as internal and cost auditors respectively.
The leadership transition and significant profit to loss swing may create near-term uncertainty for investors. The dividend recommendation provides some shareholder return amid challenging financials. The new CEO's pharma experience from companies like JB Pharma and Cipla could drive turnaround.