Mercury Laboratories holds 45th AGM, seeks approval for ₹3.50 dividend
- Mercury Laboratories held its 45th AGM virtually on September 28, 2026
- Shareholders considered adoption of FY26 financial statements
- Dividend of ₹3.50 per equity share proposed for approval
- Special resolutions covered director remuneration and age limit waivers
*this image is generated using AI for illustrative purposes only.
Mercury Laboratories Limited concluded its 45th Annual General Meeting (AGM) on September 28, 2026, through video conferencing. The meeting focused on the adoption of audited financial statements for FY26 and the declaration of a dividend of ₹3.50 per equity share.
The session commenced at 11:30 am and concluded at 11:59 am. Chairman Sanjay Patel and Managing Director Rajendra Shah addressed shareholders, highlighting the company's operational continuity and governance standards. The meeting was conducted in compliance with Ministry of Corporate Affairs and SEBI circulars regarding virtual meetings.
Key resolutions tabled
Shareholders considered nine agenda items, comprising ordinary and special business. The primary financial resolution involved the adoption of the audited financial statements for the year ended March 31, 2026. Additionally, members voted on the declaration of a final dividend.
| Item | Agenda | Resolution Type |
|---|---|---|
| 1 | Adoption of audited financial statements for FY26 | Ordinary |
| 2 | Declaration of dividend of ₹3.50 per share | Ordinary |
| 3 | Re-appointment of Dilip R Shah as Director | Ordinary |
| 4 | Remuneration for Janki R Shah exceeding 50% limit | Special |
| 5 | Approval of remuneration for Janki R Shah | Special |
| 6 | Approval of remuneration for Saurabh Mittal (COO) | Ordinary |
| 7 | Consultancy fees to Mercury Marketing & Consulting | Ordinary |
| 8 | Continuation of Jayantilal Raval beyond age 75 | Special |
| 9 | Ratification of cost auditor remuneration for FY27 | Ordinary |
Governance and directorial updates
The board proposed the re-appointment of Dilip R Shah, who retired by rotation. Significant attention was given to remuneration structures, particularly for Non-Executive Director Janki R Shah. Two special resolutions sought shareholder approval for her remuneration, one specifically addressing payments exceeding fifty percent of the total remuneration payable to all non-executive directors.
Another special resolution sought approval for the continuation of Jayantilal Raval as a Non-Executive Independent Director beyond the age of seventy-five years. The meeting also ratified consultancy fees paid to Mercury Marketing & Consulting Services, a related party entity.
Voting and procedural details
Remote e-voting facilities were provided from September 24 to September 27, 2026. Members holding shares as of the cut-off date, September 21, 2026, were eligible to vote. Nrupang Dholakia of Dholakia & Associates LLP served as the scrutinizer to supervise the voting process. The results of the remote e-voting and e-voting during the meeting are scheduled to be declared within two working days.
Historical Stock Returns for Mercury Laboratories
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.27% | -7.65% | -3.32% | +6.86% | -9.33% | +3.90% |
How will the FY26 financial performance disclosed in the adopted statements influence Mercury Laboratories' capital expenditure plans for the upcoming fiscal year?
What strategic rationale supports the continuation of Jayantilal Raval beyond age 75, and how does this align with evolving SEBI governance norms for independent directors?
Will the approved remuneration adjustments for key executives and non-executive directors impact Mercury Laboratories' operating margins in FY27?
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