Mangalam Drugs and Organics Limited has scheduled its 53rd Annual General Meeting for Wednesday, September 23, 2026. The event will be conducted through Video Conferencing or Other Audio Visual Means in compliance with SEBI and MCA regulations.

Meeting Details

The company notified the Bombay Stock Exchange and National Stock Exchange of India Limited regarding the AGM schedule. The notice was published in Financial Express and Loksatta on September 1, 2026.

E-Voting Process

Shareholders holding shares as of the cut-off date, Wednesday, September 16, 2026, are eligible to vote. The remote e-voting window opens on Saturday, September 19, 2026, at 9:00 am and closes on Tuesday, September 22, 2026, at 5:00 pm. NSDL provides the electronic voting facility.

Members who cast votes via remote e-voting may attend the meeting but cannot vote again. Those attending via VC/OAVM without prior remote voting can vote during the session. Proxy appointments are not available for this AGM.

Scrutiny and Support

Mr. B.M. Maheshwari of B.M.M. & Associates, Advocate, has been appointed as the Scrutinizer to oversee the e-voting process. Members requiring technical assistance can contact NSDL support.

Mangalam Drugs & Organics Limited reported a narrowing of losses in its first quarter of FY26, driven by improved operational efficiency despite flat top-line growth. The company posted a standalone net loss of ₹755.36 lakh for the quarter ended June 30, 2026, compared to a net loss of ₹1,372.80 lakh in the corresponding period of FY25. On a consolidated basis, the net loss stood at ₹763.88 lakh against ₹1,379.83 lakh in Q1FY25.

Revenue from operations remained stable at ₹5,711.93 lakh, virtually unchanged from the ₹5,720.87 lakh recorded in Q1FY25. Total income for the quarter was ₹5,723.10 lakh, with other income contributing a marginal ₹11.17 lakh. The consolidated revenue figures mirrored the standalone performance, reflecting the non-material nature of its subsidiary, Mangalam Laboratories Private Limited.

Financial Performance Overview

The improvement in bottom-line figures was primarily attributable to better cost management and inventory utilization. Cost of materials consumed rose to ₹3,359.45 lakh from ₹2,333.37 lakh in Q1FY25, but this was offset by a reduction in inventory build-up. Changes in inventories showed a credit of ₹44.22 lakh in Q1FY26, compared to a debit of ₹1,624.53 lakh in the prior year quarter, indicating more efficient working capital deployment.

Finance costs increased slightly to ₹367.53 lakh from ₹404.45 lakh in Q1FY25, while employee benefits expenses declined to ₹882.37 lakh from ₹931.25 lakh. Other expenses, which include power, fuel, and pollution control costs, totaled ₹1,425.04 lakh, up from ₹1,296.02 lakh in the previous year. Power and fuel expenses specifically rose to ₹568.58 lakh from ₹446.30 lakh.

What the Numbers Show

A key divergence in the financials is the relationship between revenue stability and expense contraction. While revenue remained flat, total expenses fell by approximately 9% year-on-year. This suggests that the company is managing fixed costs effectively despite higher input material costs. The shift in inventory accounting—from a significant expense in Q1FY25 to a minor credit in Q1FY26—played a crucial role in reducing the overall loss, highlighting the impact of production scheduling on interim profitability.

Corporate Governance Updates

During its meeting on August 12, 2026, the Board of Directors approved several governance-related appointments. The company appointed M/s S.N. Nanda & Co., Chartered Accountants, as Statutory Auditors for a five-year term commencing from the conclusion of the 53rd AGM. Additionally, M/s L.N. Joshi & Co., Practicing Company Secretaries, was appointed as Secretarial Auditors for the same period. Both appointments are subject to shareholder approval at the ensuing Annual General Meeting.

The unaudited financial results were reviewed by V.S. Somani & Co., Chartered Accountants, who expressed an unmodified opinion. The company continues to operate within a single reportable business segment: manufacturing of bulk drugs.