Bilcare Limited concluded its 39th Annual General Meeting (AGM) on September 26, 2026, through video conferencing and other audio-visual means. The meeting addressed six agenda items, including financial statements for FY26 and significant governance changes involving the appointment of key executive directors.

The proceedings commenced at 2:00 pm IST and concluded at 2:27 pm IST. A total of 38 members participated in the virtual meeting. The Chairman, Shreyans Bhandari, called the meeting to order after confirming the requisite quorum under Section 103 of the Companies Act, 2013. The Company Secretary, Mayur Dave, detailed the compliance measures taken to ensure shareholder participation and voting rights were upheld in accordance with SEBI (LODR) Regulations, 2015.

Resolutions passed

The shareholders transacted six specific businesses during the AGM. Notably, a corrigendum was issued on September 24, 2026, to correct a typographical error in the notice regarding Resolution No. 4. While initially described as a Special Resolution, it was correctly classified as an Ordinary Resolution, consistent with the Explanatory Statement. This correction did not alter the substance or operative text of the resolution.

The following table outlines the agenda items and their resolution types:

Governance and leadership updates

The AGM focused heavily on leadership continuity. Kavita Bhansali was reappointed as an Executive Director, a move ratified by shareholders under Special Business. Similarly, Mohan Harakchand Bhandari was appointed as a Director liable to retire by rotation and subsequently as an Executive Director. These appointments underscore the company's intent to maintain stability in its executive leadership team.

Mohan H. Bhandari, CEO of the company, addressed the shareholders following the procedural formalities. In his address, he responded to queries raised by registered speaker shareholders and provided insights into the company's business performance, operational achievements, and strategic growth initiatives for the future.

Voting and compliance details

Voting was conducted electronically pursuant to Regulation 44 of SEBI (LODR) Regulations, 2015. Remote e-voting facilities were open from September 23, 2026, to September 25, 2026. Members present at the AGM who had not cast votes electronically utilized the Instavote Platform for voting during the meeting.

Shekhar Ghatpande, Partner at Ghatpande & Ghatpande Associates, served as the Scrutinizer. He was appointed by the Board to scrutinize the remote e-voting and venue e-voting processes to ensure fairness and transparency. The final results of the voting are expected to be declared within two working days of the conclusion of the AGM, upon receipt of the Scrutinizer's report.

Attendees and oversight

The meeting was attended by the Board of Directors, statutory auditors, and key officials. The presence of independent directors and auditors ensured that the proceedings adhered to regulatory standards. The attendees included:

• Shreyans Bhandari, Chairman & Managing Director
• Mohan Bhandari, Executive Director & CEO
• Kavita Bhansali, Executive Director
• Rajesh Devene, Independent Director and Chairperson of Audit Committee
• Alka Sagar, Independent Director
• Deepa Mathur, Chief Financial Officer
• Rahul Kulkarni, Partner, Patki & Soman (Statutory Auditors)

The Company Secretary confirmed that all feasible steps were taken to provide shareholders an opportunity to participate and vote, complying with MCA Circulars and relevant legal provisions.

The Guttikonda group has increased its stake in Bilcare to 16.47% following an open market acquisition of 4,73,264 shares.

The transaction, executed on September 17, 2026, adds 2.01% to the group’s existing holding of 14.46%. The acquisition was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Acquisition Details

The share purchases were made by two members of the Guttikonda group acting in concert:

• Guttikonda Vara Lakshmi acquired 3,12,464 shares, increasing her individual stake from 12.27% to 13.59%.
• Guttikonda Rajasekhar bought 1,60,800 shares, raising his holding from 2.05% to 2.74%.

Guttikonda Anuradha, another member of the concert party, did not transact during this period and retains her stake of 32,000 shares (0.14%).

Shareholding Structure

The table below outlines the shareholding changes for the Guttikonda group entities:

The total equity share capital of Bilcare remains unchanged at ₹23,54,52,310, comprising 2,35,45,231 equity shares of ₹10 each. None of the acquired shares are encumbered or pledged.