Bafna Pharmaceuticals Limited accepted the retirement of Mr. Navin Kumar as an Independent Director upon the completion of his first term effective June 22, 2026. Consequently, he ceased to be the Chairman of the Audit Committee and the Nomination & Remuneration Committee. The Board has reconstituted these committees effective June 23, 2026, to ensure continued compliance with applicable laws.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company informed the exchanges regarding the change. Mr. Navin Kumar's retirement took effect at the close of business hours on June 22, 2026. The company confirmed that despite this change, the composition of the Board and its Committees remains in compliance with regulatory requirements.

The reconstituted Audit Committee is chaired by Mr. Palamadai Krishnan Sundaresan. Members include Mrs. Ravichandran Chitra and Mr. Upendar Mekala Reddy. The Nomination and Remuneration Committee is also chaired by Mr. Palamadai Krishnan Sundaresan, with Mrs. Ravichandran Chitra and Mrs. Akila Chintalapati Raju serving as members.

The disclosures were made in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Mr. Navin Kumar's Director Identification Number (DIN) is 08778662.

Reconstituted Board Committees

Bafna Pharmaceuticals reported a net profit of ₹1,109.98 lakh for the financial year ended March 31, 2026, marking a substantial increase from ₹415.25 lakh in the previous year. Revenue from operations for FY26 rose to ₹15,061.74 lakh compared to ₹14,585.70 lakh in FY25, driven by growth across its pharmaceutical formulations segment. The company’s earnings per equity share (basic) improved to ₹4.69 from ₹1.76 in the prior year.

Financial Performance

The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, following a recommendation by the Audit Committee. For the quarter ended March 31, 2026, the company recorded a profit of ₹274.91 lakh, up from ₹131.10 lakh in the same period of the previous year. Revenue from operations for the quarter stood at ₹4,223.93 lakh, compared to ₹3,906.00 lakh in Q4FY25.

Operational Highlights and Expenses

Total expenses for FY26 increased to ₹14,440.35 lakh from ₹14,230.11 lakh in the previous year. Key cost components included the cost of material consumed at ₹8,213.53 lakh and employee benefits expenses of ₹2,191.89 lakh. Finance costs rose to ₹366.11 lakh, while depreciation and amortization expenses stood at ₹607.26 lakh. The company noted that exceptional items for the year ended March 31, 2025, included the derecognition of inventory and intangible assets under development.

Regulatory Disclosures and Auditor’s Report

The statutory auditors, M/s. Brahmayya & Co., Chartered Accountants, issued an audit report with an unmodified opinion on the financial results. The auditors drew attention to a GST demand of ₹235.47 lakh and an order for the recovery of GST refunds amounting to ₹331.09 lakh. The company has preferred an appeal against the demand and obtained a stay for the recovery order, stating it does not anticipate any adverse financial outcome based on legal precedents and industry practices.