Pursuant to Regulation 34 of SEBI(LODR)Regulations 2015,Submission of Annual Report for the financial Year 2023-2024 along with the Notice of 31st Annual General Meeting scheduled to be ....
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Awaiting price reaction for this filing.
Kimia Biosciences has re-submitted its Annual Report for FY 2023-24 along with the notice of its 31st AGM, originally held on December 30, 2024 via video conferencing. The filing is procedural, made in response to BSE observations to ensure completeness. Key AGM agenda items include appointing M/s Sunil Suresh & Associates as the new statutory auditor (replacing M/s Singhi & Co which resigned on May 30, 2024), ratifying cost auditor remuneration of Rs. 40,000, approving continuation of MD Sameer Goel's remuneration at Rs. 60 lakh per annum, and seeking shareholder approval to raise the borrowing limit to Rs. 100 crore. For FY24, the company reported a narrower net loss of Rs. 530.87 lakh (down from Rs. 935.22 lakh in FY23), though revenue declined to Rs. 10,487.65 lakh from Rs. 12,851.60 lakh. Two KMP changes occurred during the year: Director Mita Namonath Jha resigned on April 1, 2024, and CFO & Company Secretary Lakshay Prakash resigned on August 12, 2024.
This is largely a procedural re-filing of the AGM documents and has no direct price impact. The narrower FY24 loss is a mild positive signal, but the year-on-year revenue decline and multiple senior-level resignations remain concerns. The proposed Rs. 100 crore borrowing limit gives the board flexibility to fund expansion, which shareholders will need to assess.