Makers Laboratories has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Saahil Parikh as a Non-Executive, Non-Independent Director. The appointment, effective from August 11, 2026, marks a transition in leadership structure following Mr. Parikh’s tenure as the company’s Whole-time Director and Chief Executive Officer.

The Board of Directors, acting on the recommendation of the Nomination and Remuneration Committee, proposed the resolution after Mr. Parikh decided not to continue in his executive role due to personal and professional reasons. He will now serve as a non-executive director liable to retire by rotation.

Voting Process and Timeline

The postal ballot notice was dispatched electronically on September 15, 2026, to shareholders registered as of the cut-off date, September 11, 2026. In compliance with Ministry of Corporate Affairs circulars, physical copies are not being sent; voting is restricted to remote e-voting via the National Securities Depository Limited platform.

The e-voting window opens at 9:00 am on September 17, 2026, and concludes at 5:00 pm on October 16, 2026. The results will be declared within two working days of the voting conclusion. Ms. Jigyasa N. Ved of M/s. Parikh & Associates has been appointed as the scrutinizer for the process.

Director Profile and Tenure

Mr. Saahil Parikh brings approximately 25 years of experience in pharmaceutical production, quality control, projects, and general management. He holds a B.Sc. in Bio-Chemistry from Gujarat University and a Diploma in Management Studies from Ahmedabad Management Association.

He served as the Whole-time Director/CEO from August 11, 2011, until August 10, 2026. During the financial year 2025-26, he attended all five board meetings held by the company. His last drawn remuneration as Whole-time Director was ₹73.34 lakh. As a Non-Executive Director, he will receive sitting fees for attending board and committee meetings.

What the Numbers Show

The transition reflects a structural shift in compensation and governance rather than an operational change in leadership continuity. While Mr. Parikh’s previous remuneration was fixed at ₹73.34 lakh annually as an executive, his new role involves variable sitting fees, aligning his compensation with attendance rather than fixed executive duties. He retains a shareholding of 21,741 equity shares, maintaining a financial stake in the company despite stepping down from day-to-day management.

Makers Laboratories Limited shareholders overwhelmingly approved the company’s audited financial statements for FY26 and key governance resolutions at its 41st Annual General Meeting (AGM) on August 7, 2026. The meeting, conducted via Video Conferencing / Other Audio Visual Means (VC/OAVM), saw a total of 36,90,516 votes polled out of 59,00,376 shares held by eligible shareholders as of the July 31, 2026 cut-off date. This represents a 62.55% participation rate among promoters and public holders who cast votes, underscoring strong engagement with the company’s strategic and compliance milestones.

The voting process was overseen by Ms. Jigyasa N. Ved of Parikh & Associates, appointed as the Scrutinizer pursuant to Section 108 of the Companies Act, 2013 and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Remote e-voting was facilitated through National Securities Depository Limited (NSDL) from August 3 to August 6, 2026. Of the 3,821 shareholders on record, only 41 attended the virtual meeting—six from the promoter group and 35 from the public category—with no shareholders present in person or through proxy.

Voting Results by Resolution

All four resolutions placed before the shareholders were passed with requisite majorities. The promoter group, holding 36,15,356 shares (61.27% of total equity), voted unanimously in favor of all non-related-party resolutions. Public institutional holders did not participate in the voting process.

Mr. Saahil Parikh (DIN 00400079), retiring by rotation, was re-appointed as a Director. The resolution received 99.99% support from votes polled, with only 276 votes cast against it, primarily from public retail shareholders. The promoter group abstained from voting on the related party transaction with Ipca Laboratories Ltd., as required by regulatory norms for interested parties. Consequently, this resolution was decided solely by public shareholders, who approved it with 99.63% support.

Governance and Compliance

The Board ratified the remuneration of ₹1,50,000 payable to M/s. Poddar & Co., Cost Accountants (Firm Registration No. 101734), for the financial year 2026-27. This resolution also secured 99.99% approval from voting shareholders. The Independent Auditors’ Report and Secretarial Audit Report contained no adverse remarks or qualifications, indicating a clean compliance status for FY26.

What the Numbers Show

The high level of promoter participation (100% of held shares voted) contrasts sharply with the low turnout among public institutional holders (0% participation). This concentration of voting power ensures that promoter-aligned governance decisions pass easily, but it also highlights a potential disconnect with broader institutional oversight. The near-unanimous support from retail public shareholders (99.6%+ across all resolutions) suggests that while institutions remain passive, active retail investors are aligned with management’s agenda. The absence of invalid votes further reflects a well-executed e-voting process under NSDL’s platform.