Norris Medicines will hold its 35th Annual General Meeting on Tuesday, September 29, 2026, through Video Conferencing or Other Audio-Visual Means. The meeting is scheduled for 2:30 pm IST.

The company announced the intimation pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Director Vimal D. Shah signed the notice dated September 4, 2026.

Key Dates

The register of members and share transfer books remain closed from Wednesday, September 23, 2026, through the meeting date. Only shareholders registered as of the record date are eligible to participate.

E-Voting Details

Remote e-voting begins on Saturday, September 26, 2026, at 9:00 am and ends on Monday, September 28, 2026, at 5:00 pm. Parva Sharegistry (India) Private Limited facilitates the electronic voting system. The cut-off date for determining voting eligibility is Tuesday, September 22, 2026.

Members holding shares in physical or dematerialized form as on the cut-off date may cast votes electronically. Once a vote is cast remotely, it cannot be changed. Members who vote remotely may attend the AGM but cannot vote again during the meeting.

Meeting Logistics

Electronic copies of the AGM notice and the annual report for FY26 have been sent to members with registered email IDs. Physical letters containing web links were couriered to others. The dispatch was completed on Friday, September 4, 2026.

Mr. Hemant Shetye, Partner at HSPN & Associates LLP, has been appointed as the scrutinizer for the e-voting process. The facility for proxy appointment is not available for this VC/OAVM meeting.

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.