Outcome of Board meeting held on August 13, 2025
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Coral Laboratories reported a weak Q1 FY26 with revenue from operations falling about 40% year-on-year to Rs 1,882.14 lakhs (vs Rs 3,165.58 lakhs in Q1 FY25). Profit after tax dropped sharply to Rs 256.43 lakhs from Rs 880.43 lakhs, a decline of roughly 71%, with EPS falling to Rs 7.18 from Rs 24.64. Operating margins also compressed significantly, with profit before tax shrinking to Rs 371.93 lakhs from Rs 1,177.43 lakhs. Separately, the Board approved the appointment of S C Mehra & Associates LLP as the new statutory auditor for five years starting FY26, replacing M.A. Parekh & Associates whose term ends at the upcoming AGM. The Board also approved altering the company's object clause to expand into veterinary, aqua, and herbal healthcare products, and fixed the 43rd AGM for September 26, 2025.
The steep YoY decline in both revenue and profit is a clear negative for shareholders and may pressure the stock in the short term. However, the auditor change is a routine term-end rotation, and the expanded business objects signal future diversification into animal health and herbal segments.