Norris Medicines announced the book closure for its 35th Annual General Meeting, scheduled for Tuesday, September 29, 2026. The company’s register of members and share transfer books will remain closed from Wednesday, September 23, 2026, through the meeting date.

The intimation was issued pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was signed by Vimal D. Shah, Director, and dated September 4, 2026.

Key Dates

The closure period ensures that only shareholders registered as of the record date are eligible to participate in the annual meeting. Norris Medicines is headquartered in Ankleshwar, Gujarat.

Norris Medicines posted a significantly narrower net loss of ₹28.06 lakh for FY26, down from ₹123.75 lakh in the previous year. The pharmaceutical manufacturer reported revenue from operations of ₹813.20 lakh, up 39.7% year-on-year, marking a notable operational improvement despite ongoing margin pressures.

Financial Performance

The company’s total revenue reached ₹817.74 lakh, compared to ₹588.15 lakh in FY25. While the top-line growth was robust, profitability remains constrained by high fixed costs and operating expenses. The loss before tax narrowed to ₹28.06 lakh from ₹117.81 lakh previously.

What the Numbers Show

Despite the 40% revenue surge, the company recorded a net loss, indicating that cost structures are not yet optimized for the higher volume. Finance costs rose to ₹50.00 lakh from ₹43.96 lakh, while employee benefit expenses increased to ₹166.90 lakh. This divergence between revenue growth and profit retention suggests that fixed overheads and interest burdens are absorbing the incremental operating leverage.

AGM and Corporate Actions

The 35th Annual General Meeting is scheduled for September 29, 2026. Key agenda items include:

• Reappointment of Mr. Praveen J. Bafna as a director.
• Appointment of Mr. Vimal D. Shah as Managing Director for three years, with a salary cap of ₹24 lakh per annum.
• Seeking shareholder approval for borrowing up to ₹50 crore under Section 180(1)(c) of the Companies Act.
• Authorization for sale or lease of undertaking up to ₹50 crore.

Auditor Qualifications and Compliance

Statutory auditors issued a qualified opinion due to the non-provision of gratuity liability based on actuarial valuation as required by Ind AS 19. Additionally, the company has not settled matured gratuity dues payable to former employees. The auditors also highlighted going concern risks, citing negative working capital of ₹3.71 crore and inability to meet payroll obligations regularly.

The secretarial audit report noted delays in publishing financial results for three quarters and a penalty imposed by BSE for late submission of investor complaints. The company is currently in the process of updating its website disclosures and rectifying audit trail maintenance issues.