Annual Report for the FY 2024-25
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Zenotech Laboratories has submitted its Annual Report for FY 2024-25 along with the Notice of its 36th Annual General Meeting, scheduled for September 26, 2025 via video conferencing. Key business items at the AGM include adoption of audited financial statements, re-appointment of Mr. Rakeshchandra Jagdishprasad Sinha as a Director, and appointment of M/s. G S K A & Co. as the new Statutory Auditor for a 5-year term, replacing M/s. PKF Sridhar & Santhanam LLP which has completed two consecutive terms. Shareholders will also be asked to approve Material Related Party Transactions with Sun Pharmaceutical Industries (its holding company/Promoter) worth up to ₹200 Crores from this AGM to the next. The filing notes that Zenotech manufactures products for Sun Pharma under a Loan Licensing arrangement and is largely dependent on Sun Pharma for sustaining its operations, with the proposed RPT limit representing 100% of the Company's annual turnover. A new Secretarial Auditor, Mr. Mahadev Tirunagari, has also been proposed for a 5-year term from April 1, 2025.
The most material point for shareholders is the heavy dependence on Sun Pharma, with proposed related-party transactions equalling 100% of turnover — meaning shareholder approval is required for Zenotech's continuing operations. The statutory auditor change is a routine succession after completing two terms, with no change in proposed audit fee.