Chandra Bhagat Pharma issued a corrigendum to its Annual General Meeting (AGM) notice on August 20, 2026, to provide the specific web link for a regulatory compliance certificate. The update pertains to the proposed preferential allotment of 66,00,000 convertible warrants by the company.

The Board of Directors had previously dispatched the AGM notice on August 6, 2026. The meeting is scheduled to be held on Tuesday, September 1, 2026, at 4:00 pm at the company's registered office in Mumbai. Item No. 4 of the Explanatory Statement details the proposal for the preferential issue of the warrants.

Regulatory Compliance Update

The Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, require companies to file applications with stock exchanges for in-principle approval of such issuances. BSE Limited requested Chandra Bhagat Pharma to provide the exact web link to the compliance certificate issued by M/s. Dilip Swarnkar & Associates.

The certificate confirms that the preferential allotment adheres to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has now specified that this document is accessible via its website under sub-item No. 19 of Item No. 4 in the Explanatory Statement.

Meeting Logistics

All other contents and items of the AGM Notice, along with the Explanatory Statement, remain unchanged except as modified by this corrigendum. The corrigendum forms an integral part of the original notice and must be read in conjunction with it.

Key details for shareholders include:

• Meeting Date: September 1, 2026
• Time: 4:00 pm
• Venue: Registered Office, Mumbai
• Scrutinizer: M/s. Amit Dharmani & Associates

The company communicated the corrigendum to shareholders via email through MUFG Intime India Private Limited. The document is also available on the websites of BSE Limited and Chandra Bhagat Pharma.

Chandra Bhagat Pharma Limited has convened its 23rd Annual General Meeting (AGM) for Tuesday, September 1, 2026, at 4:00 P.M. IST at its registered office in Mumbai. The meeting aims to secure shareholder approval for a significant capital raising exercise through the preferential allotment of Convertible Warrants, alongside an increase in authorized share capital and routine board appointments. The proposed warrant issue is designed to raise up to ₹29.04 crore to meet working capital requirements and general corporate purposes, signaling management's intent to fund future expansion in the pharmaceutical sector.

The special resolution seeks approval to issue up to 66,00,000 Convertible Warrants on a private placement basis to promoters and non-promoters. Each warrant carries a face value of ₹10 and will be issued at a price of ₹44 per warrant, including a premium of ₹34. The warrants are exercisable into equity shares within 18 months of allotment. If not exercised within this period, the warrants will lapse, and the amount paid will be forfeited by the company. The pricing is based on the volume-weighted average price (VWAP) as per Regulation 164 of the SEBI ICDR Regulations, with a valuation certificate obtained from ValuGenius Advisors LLP.

In addition to the warrant issue, the ordinary resolution proposes increasing the company’s authorized share capital from ₹8.50 crore (85,00,000 equity shares of ₹10 each) to ₹15.00 crore (1,50,00,000 equity shares of ₹10 each). This increase creates headroom for the eventual conversion of warrants into equity shares and supports future fundraising needs. The explanatory statement notes that raising funds via convertible warrants requires sufficient authorized capital, necessitating this amendment to Clause V of the Memorandum of Association.

Financial Performance and Outlook

The AGM notice accompanies the annual report for the financial year ended March 31, 2026 (FY26). During FY26, Chandra Bhagat Pharma reported a profit after tax (PAT) of ₹304.61 lakh, a substantial increase from ₹85.78 lakh in FY25. Revenue from operations rose to ₹11,627.17 lakh in FY26, compared to ₹8,880.54 lakh in the previous year. The company attributed this growth to higher turnover in pharmaceutical formulations and API products, particularly in export markets where foreign exchange earnings reached ₹8,024.23 lakh.

Management highlighted robust growth prospects, citing plans to expand into vaccine formulations, including Hepatitis A and Inactivated Polio Vaccine, and to set up dedicated manufacturing facilities. The funds raised from the warrant issue are earmarked for working capital and general corporate purposes over a two-year timeline. No dividend was recommended for FY26, as profits were retained to support these expansion initiatives.

Board Appointments and Governance

The AGM agenda includes the re-appointment of Mr. Pranav Hemant Bhagat (DIN: 00156362), Whole Time Director, who retires by rotation. He has offered himself for re-appointment and is eligible under the Companies Act, 2013. The board also comprises Hemant Chandravadan Bhagat (Managing Director), Prachi Pranav Bhagat (Director and CFO), and independent directors Ravindra Gajanan Awati and Abha Praveen Doshi.

The statutory auditors, M/s. A Y & Company, Chartered Accountants, have submitted their report without qualifications. The secretarial audit report by M/s. Amit Dharmani & Associates confirms compliance with applicable statutory provisions. Shareholders holding shares in physical form are advised to update their details with MUFG Intime India Private Ltd., the registrar and share transfer agent, while demat holders must coordinate with their depository participants.