Annual Report for Financial Year 2024-2025.
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Genpharmasec Limited has submitted its 33rd Annual Report for FY 2024-25 along with the notice of its AGM scheduled for September 29, 2025, to be held via video conferencing. Key items on the AGM agenda include adoption of audited standalone and consolidated financial statements, re-appointment of Mr. Rajesh Sadhwani as a director retiring by rotation, appointment of a new statutory auditor M/s. Bilimoria Mehta & Co. for a 5-year term in place of the existing auditor M/s. Abhishek S Tiwari & Associates, and appointment of M/s. Jaymin Modi & Co. as secretarial auditor for FY 2025-26 to FY 2029-30. The company is also seeking shareholder approval for a revision in the remuneration of Whole-Time Director & CFO Mr. Sohan Chaturvedi to Rs. 2,00,000 per month effective October 1, 2025, with a provision for minimum remuneration in case of inadequate profits. Additionally, shareholders' approval is being sought for material related party transactions with wholly owned subsidiary Clinigenome India Private Limited, capped at Rs. 5 crore each per year for sale and purchase of goods, for a three-year period covering FY 2025-26 to FY 2027-28.
Routine annual report filing with no material change to the business, but shareholders should note the change of statutory auditor, a new minimum remuneration clause for the CFO indicating possible concerns about future profitability, and a multi-year framework for related party transactions with the subsidiary that warrants review.