Mahamaya Lifesciences reported a 24.5% year-on-year increase in revenue from operations to ₹328.87 crore for the financial year ended March 31, 2026. The agrochemical manufacturer also saw its consolidated profit after tax (PAT) rise 29.0% to ₹16.52 crore, driven by strong operational execution and margin expansion.

The company’s EBITDA grew 32.6% to ₹34.26 crore, with the EBITDA margin expanding to 10.42% from 9.78% in the previous fiscal. This improvement occurred alongside a 24.5% revenue growth, indicating effective cost management and operational leverage during the period.

Financial Performance

Mahamaya Lifesciences posted a profit before tax (PBT) of ₹23.87 crore, up 38.4% from ₹17.25 crore in FY25. The basic earnings per share (EPS) improved to ₹8.33 from ₹7.52 in the prior year. The company retained the entire profit for the year, declaring no dividend.

Balance Sheet Strengthening

The company listed on the BSE SME Platform in November 2025 through an Initial Public Offering (IPO). The fresh issue raised ₹64.28 crore, significantly strengthening the balance sheet. Shareholders’ funds increased to ₹12,192.99 lakh, while the net debt-to-equity ratio improved to 0.74x from 1.18x in the previous year. Cash and cash equivalents rose sharply to ₹393.99 lakh from ₹39.95 lakh.

What the Numbers Show

The divergence between revenue growth (24.5%) and EBITDA growth (32.6%) highlights improved operating efficiency. While finance costs rose 19.7% to ₹8.14 crore due to higher borrowings supporting expansion, the company maintained robust interest coverage. The significant drop in other income (down 61.9% to ₹1.15 crore) underscores that the PAT growth was driven primarily by core operational performance rather than non-recurring gains.

Strategic Outlook

Management highlighted the favourable industry outlook and the company’s transition into a publicly listed entity as key milestones. Strategic priorities include expanding manufacturing capabilities at its Dahej facility, developing active-ingredient process development, and deepening international market presence. The company plans to utilize unutilized IPO proceeds for technical manufacturing plants and formulation facility expansions.

Mahamaya Lifesciences approved the notice for its 24th Annual General Meeting (AGM) and significant leadership restructuring during its board meeting on August 25, 2026. The company scheduled the AGM for September 29, 2026, to be held via video conference or other audio-visual means.

The Board also approved the appointment of new auditors for FY27. M/s HPN & Associates was appointed as Secretarial Auditor, M/s Chandramouli and Associates LLP as Internal Auditor, and M/s Yogesh Gupta and Associates as Cost Auditor. These appointments were effective from August 25, 2026, based on Audit Committee recommendations.

Leadership Restructuring

The Nomination and Remuneration Committee recommended several key changes to the board and management structure, effective from November 1, 2026, subject to shareholder approval.

Mr. Prashant Krishnamurthy will be redesignated from Executive Director to Managing Director. He simultaneously resigned from his role as Chief Financial Officer (CFO), effective October 31, 2026. Mr. Amarendra Mohapatra was appointed as the new CFO and Key Managerial Personnel (KMP).

Mr. Krishnamurthy Ganesan will step down as Managing Director to assume the role of Chairman and Executive Non-Independent Director. This transition marks a shift in executive responsibilities within the family-led management structure.

Board Appointments

The board appointed Mr. Bhagirath Choudhary as an Additional Independent Director for a three-year term starting August 25, 2026. Dr. Gopal Krishna Raju and Dr. Charudatta Digambar Mayee were reappointed as Independent Directors for their second three-year terms, effective December 11, 2026.

Mr. Kush Mishra was appointed as Company Secretary and Compliance Officer, effective August 25, 2026. He serves as both a Key Managerial Personnel under the Companies Act, 2013, and a Senior Management Personnel under SEBI LODR Regulations.

Remuneration Changes

The board approved revisions in remuneration for Mr. Krishnamurthy Ganesan, Mr. Prashant Krishnamurthy, and Mrs. Lalitha Krishnamurthy. These changes are effective from November 1, 2026, pending shareholder approval at the upcoming AGM.