Parmax Pharma has scheduled an Extraordinary General Meeting (EGM) on Thursday, July 2, 2026, to seek shareholder approval for raising ₹19.28 crore through a preferential issue of equity shares and warrants. The issuance aims to facilitate a change in control, with acquirers seeking majority voting rights through the preferential allotment, secondary acquisition, and an open offer. The Board of Directors, at its meeting held on June 8, 2026, sanctioned the issuance of 31,37,586 equity shares and 21,45,145 convertible warrants at an issue price of ₹36.50 each, comprising a face value of ₹10 and a premium of ₹26.50.

The board approved increasing the authorised share capital from ₹6 crore to ₹10 crore and adopting a new set of Articles of Association to align with the Companies Act, 2013. The Committee of Independent Directors, comprising Nikhil Sureshchandra Uchat and Ami Shah Rajeshbhai, unanimously recommended the preferential issue, determining Tuesday, June 2, 2026, as the relevant date for pricing floor calculations in accordance with SEBI ICDR Regulations. The floor price was determined at ₹36.33 per share.

Extraordinary General Meeting

The EGM is scheduled for Thursday, July 2, 2026, at 11:30 am IST via video conferencing. Remote e-voting will be open from June 29, 2026, to July 1, 2026, for shareholders holding shares as of the cut-off date of June 25, 2026. The board appointed Shreyans Jain & Co., Practising Company Secretary, as the scrutinizer for the e-voting process.

Preferential Issue Details

The preferential issue involves a total fund raise of ₹19,28,19,682. The issuance includes 31,37,586 equity shares aggregating to ₹11,45,21,889 and 21,45,145 warrants aggregating to ₹7,82,97,793. Warrants are exercisable in one or more tranches within 18 months from the date of allotment. The proceeds will be used for working capital requirements and general corporate purposes.

Parmax Pharma Limited reported a net loss of ₹4.16 crore for the financial year ended March 31, 2026, as revenue from operations declined to ₹12.12 crore. The company's Board of Directors approved the standalone audited financial results for the quarter and year ended March 31, 2026, during a meeting held on June 03, 2026. The statutory auditors, M/s. B A Shah S R Mehta & Co., Chartered Accountants, issued an unmodified opinion on the financial results.

Financial Performance

For the quarter ended March 31, 2026, the company recorded a net loss of ₹58.43 lakh on revenue from operations of ₹3.31 crore. In comparison, the net loss for the same period in the previous year was ₹1.49 crore on revenue of ₹4.83 crore. Total income for the quarter stood at ₹3.34 crore, down from ₹4.73 crore in the corresponding quarter of the previous year.

The company reported a loss before tax of ₹5.85 crore for the full year, compared to a loss of ₹2.40 crore in the previous year. Finance costs for the year increased to ₹12.40 crore, significantly impacting profitability. The basic earnings per share (EPS) for the year was negative at ₹11.12, compared to a negative EPS of ₹5.60 in the previous year.

Operational Highlights

Parmax Pharma operates in a single pharmaceutical segment. During the financial year, the company did not charge depreciation on its clean room plant and effluent treatment plant. Additionally, the company lodged an insurance claim wherein the surveyor provided an insurance provision amounting to ₹3.5 crore.

Assets and Liabilities

The company's total assets as of March 31, 2026, stood at ₹28.05 crore, an increase from ₹18.75 crore in the previous year. Current assets rose to ₹16.68 crore, driven by higher inventories and trade receivables. Total equity and liabilities increased to ₹28.05 crore, with current liabilities reaching ₹22.68 crore, primarily due to higher trade payables and other financial liabilities.

Cash Flow Statement

Cash flow from operating activities resulted in a net outflow of ₹2.36 crore during the year. The company utilized ₹90 lakh in investing activities, primarily for the purchase of fixed assets. Financing activities provided a net inflow of ₹3.81 crore, largely due to an increase in long-term borrowings. Cash and cash equivalents at the end of the year stood at ₹65 lakh, up from ₹9 lakh in the previous year.