Medi Caps has scheduled its 43rd Annual General Meeting for September 22, 2026, to approve significant boardroom changes and adopt financial results for FY26. The meeting will be conducted via video conference from the company's registered office in Indore.

The agenda includes the reappointment of Mr. Alok K Garg as Chairman and Managing Director and the confirmation of Mrs. Saloni Garg as a Whole-Time Woman Director.

Key Agenda Items

Shareholders will vote on two special resolutions alongside ordinary business items:

• Reappointment of Alok K Garg: Approval for his role as Chairman and Managing Director for three years, effective September 1, 2026, to August 31, 2029. His monthly salary remains at ₹7 lakh.
• Appointment of Saloni Garg: Confirmation of her appointment as a director liable to retire by rotation and as Whole-Time Woman Director for three years, effective August 7, 2026. Her monthly salary is set at ₹2 lakh.

Mr. Garg succeeds Mr. Ramesh Chandra Mittal, who resigned as Chairman and Director on August 6, 2026. Mrs. Garg is Mr. Garg’s daughter-in-law and was previously serving as Senior Manager.

Financial Performance

The company disclosed a sharp decline in profitability for the fiscal year ended March 31, 2026. Revenue from operations fell to ₹230.59 lakh, down from ₹241.66 lakh in FY25. More significantly, the company posted a net loss of ₹13.87 lakh, reversing a net profit of ₹55.51 lakh recorded in the previous year.

What the Numbers Show

The financial data reveals a structural shift in the company’s earnings profile over the last three years. While revenue declined moderately by approximately 4.6% from FY25 to FY26, the swing from a ₹55.51 lakh profit to a ₹13.87 lakh loss indicates that cost pressures or non-operational expenses outpaced the modest drop in top-line growth. This divergence suggests that the current loss is not solely driven by revenue contraction but potentially by margin compression or increased operational costs, as the company cites "economic slowdown" and "strict compliances" as contributing factors.

Meeting Details

The voting period for remote e-voting begins on September 19, 2026, at 9:00 am and ends on September 21, 2026, at 5:00 pm. Shareholders holding shares as on the cut-off date of September 15, 2026, are eligible to vote. The company has engaged Central Depository Services (India) Limited to facilitate the e-voting process.

Medi Caps Limited has appointed Akshit Garg as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective August 7, 2026. The appointment follows the resignation of Hemant Sethi from the CFO role, which became effective at the close of business hours on June 6, 2026. This leadership transition coincides with the company’s Q1FY27 financial results, which showed a narrowed net loss of ₹223.29 lakh compared to ₹349.19 lakh in the same period last year.

In addition to the CFO change, the Board of Directors accepted the resignation of Ramesh Chandra Mittal (DIN: 00035272) from the position of Chairperson and Non-Executive Non-Independent Director, effective August 6, 2026. These disclosures were made pursuant to Regulation 30 read with Part A of Schedule III and Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board also authorized Key Managerial Personnel to determine materiality for future stock exchange disclosures.

Leadership Transitions

The reshuffle consolidates operational control within the founding family. Alongside Akshit Garg’s appointment as CFO, Saloni Garg was appointed as Whole Time Woman Director, both roles commencing August 7, 2026. Their previous roles as Senior Manager and General Manager were resigned effective August 6, 2026.

The Board also approved the re-appointment of Alok K. Garg as Chairman cum Managing Director for a three-year term starting September 1, 2026. All these appointments require shareholder approval at the 43rd Annual General Meeting scheduled for September 22, 2026.

Financial Context

The leadership changes occur against a backdrop of improving but still loss-making operations. Consolidated revenue from operations rose 3.7% year-on-year to ₹278.69 lakh in Q1FY27. Total expenses declined by 22.2% to ₹507.12 lakh, driven by lower freight costs. However, the company continues to incur losses due to high fixed costs relative to sales volume. Standalone operations reported a reduced loss of ₹58.96 lakh, with negligible revenue of ₹10.49 lakh.

What the Numbers Show

The departure of Hemant Sethi and the appointment of Akshit Garg signal a strategic shift in financial oversight during a period of cost optimization. While the narrowing net loss indicates that expense control measures are taking effect, the reliance on non-operating gains remains a factor. Other income dropped significantly from ₹33.49 lakh in Q1FY26 to ₹5.14 lakh in Q1FY27, suggesting that previous periods benefited from one-off items. The new CFO will oversee finances as the company attempts to stabilize its pharmaceutical division, which contributed ₹268.20 lakh in segment revenue but posted a segment loss of ₹164.33 lakh before tax and interest.