Re-appointment of Cost Auditors of the Company
MOREPENLAB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Morepen Laboratories held its Board meeting on May 26, 2026, approving four key items. First, a second addendum to the Business Transfer Agreement with subsidiary Morepen Medipath Limited pushes the appointed date for transferring the Medical Devices Business (slump sale of Rs. 19,710.12 lakh) to April 1, 2026, due to pending statutory approvals. Second, audited standalone net profit declined 35% to Rs. 6,605.75 lakh for FY26 despite revenue rising 8.2% to Rs. 1,70,269 lakh, while consolidated net profit remained flat at Rs. 11,802 lakh with unmodified audit opinions. Third, the Board recommended a final dividend of Rs. 0.20 per share (10% on face value Rs. 2) for FY26, subject to shareholder approval at AGM. Fourth, M/s. Vijender Sharma & Co. was re-appointed as Cost Auditors for FY27. Dr. Morepen Limited ceased to be a subsidiary effective July 31, 2025, after parent stake reduced from 80% to 19.94%.
The profit decline despite revenue growth signals margin pressure from higher input or operational costs, which may concern investors focused on profitability. The dividend and business restructuring show the company maintains shareholder returns while reorganising operations, but the stock may see muted reaction given the earnings contraction.