Cresanto Global Limited (formerly Raymed Labs Limited) reported a widened standalone net loss of ₹43.03 lakh for the financial year ended March 31, 2026 (FY26), compared to a loss of ₹18.05 lakh in FY25. The packaging and trading company recorded revenue from operations of ₹5.39 lakh against total expenses of ₹50.58 lakh. The Board of Directors has scheduled the 34th Annual General Meeting (AGM) for August 31, 2026, to address strategic structural changes, including the relocation of its registered office from Uttar Pradesh to Maharashtra, and to ratify significant related-party transactions involving promoters and associated entities.

The financial deterioration reflects the transitional phase as the company shifts focus from pharmaceuticals to flexible packaging and trading. While operational revenue remained minimal at ₹5.39 lakh, other income dropped sharply to ₹2.17 lakh from ₹52.59 lakh in the prior year. Total comprehensive income for the year was a loss of ₹43.03 lakh. No dividend was declared, and no transfer to reserves was proposed. Statutory auditors K T P S & Co., Chartered Accountants, confirmed that the financial statements present a true and fair view in conformity with Indian Accounting Standards (Ind AS).

Key Financial Metrics

Strategic Restructuring and Registered Office Shift

The Board seeks shareholder approval to shift the registered office from Noida, Uttar Pradesh, to Mumbai, Maharashtra, under Section 13(4) of the Companies Act, 2013. This move aims to align the corporate structure with the residence of directors and key managerial personnel, facilitating more effective management. The resolution requires confirmation from the Regional Director, Delhi, Northern Region Directorate I. Concurrently, shareholders will vote to alter Clause II of the Memorandum of Association to reflect the new location.

Related-Party Transaction Approvals

Shareholders are asked to approve material related-party transactions (RPTs) under Regulation 23 of the SEBI Listing Regulations. The proposed transactions, valued at up to ₹45 crore in aggregate, involve loans and business arrangements with entities controlled by common key management personnel and individuals with significant influence. These include Cresanto India Private Limited (₹20 crore), Cresanto Industries LLP (₹7.5 crore), and Koriander Consultants LLP (₹7.5 crore). Individual limits of ₹5 crore each are set for promoters Prashant Nathmal Bajaj, Nishant Nathmal Bajaj, Hitesh Bajoria, and Urmila Hansraj Sharma. The Audit Committee reviewed these transactions, noting they are on an arm’s length basis.

What the Numbers Show

The divergence between minimal operational revenue (₹5.39 lakh) and substantial fixed expenses (₹50.58 lakh) highlights the high burn rate during the business transition. With no subsidiary or associate companies and a debt-to-equity ratio of -0.93, the company relies on internal accruals and related-party support to sustain operations. The sharp decline in other income—from ₹52.59 lakh to ₹2.17 lakh—removes a prior-year cushion that had partially offset operating losses, exposing the underlying operational deficit more clearly in FY26.

Cresanto Global Limited (formerly Raymed Labs Limited) has approved material related party transactions involving its four promoter directors, capping exposure at ₹5 crore per individual. The Board of Directors sanctioned these arrangements during a meeting held in Mumbai on July 31, 2026, establishing a framework for future business dealings with key stakeholders through the end of the current fiscal cycle.

The approval covers transactions entered into in the normal course of business, including contracts, loans, and corporate guarantees. These deals are structured to align with terms and conditions generally prevalent in the industry segments where Cresanto operates. The authorization remains valid from the conclusion of the Annual General Meeting (AGM) held in FY26-27 until the AGM scheduled for FY27-28.

Transaction Details

The Board approved specific monetary limits for each related party. The transactions are subject to a maximum value as outlined below:

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The transactions also fall under Section 188 of the Companies Act, 2013, and Regulation 23 of the SEBI LODR Regulations, 2015.

The related parties are identified under Section 2(76) of the Companies Act and Regulation 2(1)(zb) of the SEBI Listing Regulations due to their significant influence over the reporting entity. Managing Director Prashant Nathmal Bajaj signed the disclosure, confirming the Board's ratification of these material agreements.