Kobo Biotech shareholders approved the adoption of the company’s annual accounts and reports for the financial year ended March 31, 2024, at its 31st Annual General Meeting (AGM) held on July 24, 2026. The ordinary resolution passed with unanimous support from participating non-institutional public investors, finalizing the financial disclosures for FY24. The meeting commenced at 10:00 A.M. through Video Conferencing / Other Audio Visual Means (VC/OAVM) and concluded at 10:09 A.M., with Resolution Professional Namrata Amol Randeri overseeing the proceedings.

The single agenda item was put to vote via remote e-voting, which ran from July 21, 2026, to July 23, 2026. According to the scrutinizer’s report issued by Riddhi Shah, Practising Company Secretary, all votes were cast remotely; no votes were recorded during the venue voting session. The process complied with Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 108 of the Companies Act, 2013, read with Rule 20 of the Companies (Management and Administration) Rules, 2014.

Voting Results

Only non-institutional public shareholders participated in the e-voting process. Promoter and promoter group shareholders, as well as institutional public shareholders, did not cast any votes. A total of 17,934 shares were voted, representing 0.07527% of the outstanding shares. All polled votes were cast in favor of the resolution.

Meeting Attendance and Participation

The AGM saw limited attendance relative to the total shareholder base. Out of 7,903 shareholders on the record date, only 35 shareholders attended the meeting through VC/OAVM. All attendees were from the public category, holding a combined 13,668 shares, which constitutes 0.0574% of the company’s capital. No promoters or promoter group members were present at the meeting.

The low participation rate is notable given that the promoter group holds 10,709,100 shares, approximately 44.9% of the total equity capital. However, their absence from both attendance and voting does not impact the validity of the resolution, as the requisite majority was achieved through the votes cast by non-institutional public shareholders. The scrutinizer’s report, issued under UDIN A020168H000930154, confirms that the resolution was passed with the requisite majority.

The approval of the FY24 accounts marks a procedural milestone for Kobo Biotech, enabling the company to finalize its financial disclosures for the period. With the AGM concluded, the company can proceed with subsequent regulatory filings and corporate governance requirements.

Kobo Biotech Limited reported a net loss of ₹5.23 crore for the financial year ended March 31, 2025, widening from a loss of ₹4.93 crore in the previous year. The company did not generate any revenue from operations as manufacturing activities at its Solapur plant remained suspended due to regulatory and financial issues. The basic and diluted loss per share for the year was ₹2.20, compared to ₹2.07 in the prior year.

Total income for the year stood at ₹0.76 lakh, derived solely from other income, while total expenses amounted to ₹5.31 crore. The company continues to operate in a single business segment, pharmaceuticals. In view of the losses incurred, the Board did not recommend any dividend on equity shares for the year.

Corporate Insolvency Resolution Process

The Corporate Insolvency Resolution Process (CIRP) against the company, initiated on August 13, 2024, remains in effect. Ms. Namrata Amol Randeri serves as the Resolution Professional, managing the company’s affairs under the supervision of the Committee of Creditors. Subsequently, the Resolution Plan submitted by Beaufond Industries Limited was approved by the Hon’ble National Company Law Tribunal, Hyderabad Bench, vide order dated May 11, 2026. Pending implementation of the approved plan, the affairs of the company continue to be managed by the Resolution Professional.

Financial Results

Auditor and Compliance Observations

M/s. A N Shah & Associates, Chartered Accountants, audited the financial statements. The auditors noted that the company has been irregular in depositing undisputed statutory dues, including Provident Fund, Employees’ State Insurance, and Income Tax. Additionally, the auditors highlighted that the interest cost for the financial year was not provided for as the majority of the loans had been assigned to an asset reconstruction company. The company also delayed the payment of annual listing fees to BSE Limited.