Bafna Pharmaceuticals Limited has responded to stock exchange inquiries regarding significant movement in its share price, stating that the company is unaware of any specific events or information that may have caused the fluctuations. The clarification was issued on March 24, 2026, following communications from both BSE Limited and National Stock Exchange of India Limited dated March 23, 2026.

Company's Response to Exchange Inquiries

The pharmaceutical company received formal communications from both major stock exchanges seeking clarification on the notable price movement. The exchanges referenced specific communication numbers in their inquiries to the company.

Market-Driven Price Movement

Bafna Pharmaceuticals emphasized that the share price movement is market-driven and attributable to general market conditions and investor sentiment. The company clearly stated that neither the organization nor its management has any connection with or control over the movement in share prices on stock exchange platforms.

Regulatory Compliance Commitment

The company reaffirmed its commitment to regulatory compliance, stating that it has complied and will continue to comply with all applicable disclosure requirements. This includes adherence to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.

Corporate Communication

The clarification was signed by Mohanachandran A, who serves as the Company Secretary and Compliance Officer for Bafna Pharmaceuticals Limited. The company requested that the stock exchanges take the clarification on record, maintaining transparency in its communication with regulatory bodies and investors.

Bafna Pharmaceuticals Limited has announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, demonstrating strong operational performance with significant growth in profitability. The Chennai-based pharmaceutical company's board approved these results on February 11, 2026, following review by the audit committee and limited review by statutory auditors.

Financial Performance Highlights

The company delivered impressive financial results for Q3 FY26, with substantial improvements across key performance indicators:

Other income for the quarter increased significantly to ₹121.94 lakhs from ₹18.96 lakhs in Q3 FY25, contributing to the overall income growth. Total comprehensive income reached ₹179.07 lakhs compared to ₹95.68 lakhs in the previous year.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Bafna Pharmaceuticals maintained strong momentum with consistent growth:

The nine-month results showcase the company's ability to improve profitability substantially while maintaining steady revenue growth.

Operational Cost Management

The company's expense management during Q3 FY26 reflected operational efficiency improvements. Total expenses increased to ₹3,766.83 lakhs from ₹3,241.75 lakhs in Q3 FY25. Key expense components included:

• Cost of material consumed: ₹2,399.82 lakhs (Q3 FY25: ₹1,687.42 lakhs)
• Employee benefits expenses: ₹534.52 lakhs (Q3 FY25: ₹525.72 lakhs)
• Manufacturing expenses: ₹505.95 lakhs (Q3 FY25: ₹587.50 lakhs)
• Finance costs: ₹86.24 lakhs (Q3 FY25: ₹63.54 lakhs)

Notably, the company benefited from a favorable change in inventories of work-in-progress and finished goods, recording a positive impact of ₹179.01 lakhs.

Regulatory and Compliance Matters

The company disclosed several regulatory developments in its financial results. Bafna Pharmaceuticals has received GST demand orders totaling ₹235.47 lakhs and another order for recovery of GST refunds amounting to ₹331.09 lakhs from earlier years, along with applicable interest and penalty. The company has appealed against the GST demand and intends to challenge the refund recovery order through appropriate legal channels.

Additionally, the company reported foreign currency receivables of ₹205.00 lakhs as of December 31, 2025, which remain outstanding beyond RBI stipulated time periods. Management is pursuing approval for time extension or write-off of certain balances.

Corporate Structure and Capital

Bafna Pharmaceuticals maintained its paid-up share capital at ₹2,365.63 lakhs with face value of ₹10.00 per share throughout the reporting periods. The company's other equity stood at ₹6,115.02 lakhs as per the balance sheet for the year ended March 31, 2025. The consistent capital structure reflects the company's stable financial foundation while delivering improved returns to shareholders through enhanced profitability.