Please find enclosed herewith the Annual Report for the Financial Year ended March 31, 2025.
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Parnax Lab Limited has submitted its 43rd Annual Report for the financial year ended March 31, 2025, along with the notice for its Annual General Meeting (AGM) scheduled for September 29, 2025, to be held via video conferencing. The AGM notice includes ordinary business items such as adoption of audited accounts and re-appointment of Mr. Binoy B. Shah as director. A special business item seeks shareholder approval for material related party transactions with Naxpar Pharma Private Limited (a subsidiary), covering purchase and sale of materials up to Rs. 5 crore per transaction, valid from October 1, 2025 to September 30, 2026. Another special item proposes the appointment of M/s HSPN & Associates LLP as Secretarial Auditors for a 5-year term (FY 2025-26 to FY 2029-30). The report also highlights a leadership transition during the year, with Mihir P. Shah appointed as Managing Director and CEO and Binoy B. Shah as Director and CFO in November 2024, replacing the previous promoters.
The filing is a routine regulatory disclosure, but it flags ongoing material related party transactions between Parnax Lab and its subsidiary, which shareholders will need to approve at the upcoming AGM. The leadership change indicates a generational shift in the promoter family, though business operations appear to continue normally.