Appointment of Internal Auditor for the financial year 2025-26.
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At its July 4, 2025 meeting, Pharmaids Pharmaceuticals' Board approved three items. First, it re-appointed Mr. T. N Raghavendra as Internal Auditor for FY 2025-26 under Section 138 of the Companies Act. Second, the Board approved selling its entire 66.50% partnership stake in Anugraha Chemicals (a material subsidiary) for Rs. 10.50 crore to Mr. Sourabh Hadimani, the existing partner, who is not a related party. Notably, Anugraha contributed 68.91% (Rs. 13.40 crore) of consolidated revenue and 6.80% (Rs. 3.74 crore) of consolidated net worth as of March 31, 2025. Third, the Board approved a postal ballot notice seeking shareholder approval for this divestment and for material related party transactions with Koye Lifesciences Private Limited. The divestment requires shareholder approval through a special resolution.
This is a significant restructuring move — Anugraha accounts for nearly 69% of consolidated revenue, so its exit will dramatically reshape the company's revenue base and signal a strategic pivot. Shareholders will vote on the deal via postal ballot, and the Rs. 10.50 crore inflow is modest relative to Anugraha's revenue contribution, so investors should weigh the strategic rationale carefully.