Morepen Laboratories Limited has informed the Exchange regarding Appointment of Mr Sanjay Suri as Executive Director of the company w.e.f. August 13, 2025.
MOREPENLAB · price
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Awaiting price reaction for this filing.
Morepen Laboratories' board met on August 6, 2025 and approved Q1 FY26 results, with consolidated net profit falling sharply to Rs. 1,140.66 lakhs from Rs. 3,616.79 lakhs a year ago, while total income dipped to Rs. 42,964.73 lakhs from Rs. 45,864.27 lakhs. Standalone net profit also fell steeply to Rs. 806.12 lakhs (vs Rs. 3,504.96 lakhs), with EPS of Rs. 0.15. The company set August 30, 2025 as the record date for the final dividend (subject to AGM approval) and will seek shareholder nod to hive off its Medical Devices Business into subsidiary Morepen Medipath Limited on a slump sale basis. Mr. Sanjay Suri (promoter group, brother of CMD Sushil Suri) was re-appointed as Whole-Time Director for 3 years (Aug 13, 2025 to Aug 12, 2028). M/s. PD and Associates was appointed as Secretarial Auditor for 5 years (FY26-FY30), and the 40th AGM is scheduled for September 6, 2025 via video conferencing.
Sharp year-on-year drop in Q1 profits is a negative signal, though the operational continuity of leadership (Sanjay Suri re-appointed) and the planned restructuring of the Medical Devices business into a subsidiary may be viewed as steps toward sharper focus. Shareholders should watch the AGM outcome on the hiving-off plan and dividend approval.