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.

Parmax Pharma Limited held an Extra Ordinary General Meeting (EGM) on May 27, 2026, to vote on the appointment and re-appointment of key directors. The meeting, chaired by Managing Director Umang Alkesh Gosalia, saw shareholders pass resolutions for the Managing Director and two Non-Executive Directors while rejecting proposals for two Independent Directors. The voting process included a remote e-voting facility conducted by Purva Sharegistry India Private Limited, which was open from May 24 to May 26, 2026, alongside ballot paper voting at the meeting.

Voting Results Summary

The company sought approval for five resolutions. While the resolutions for the Managing Director and two non-executive directors received the requisite majority, the proposals for two independent directors failed to secure the necessary approval under the Companies Act, 2013. The scrutinizer for the EGM was M/s. Samsad Alam Khan.

Passed Resolutions

Shareholders approved the re-appointment of Umang Alkesh Gosalia as Managing Director. The resolution received 100% of the valid votes cast, with 2,145,178 shares voted in favor and none against. Additionally, the appointments of Pradeep Ramniklal Gosalia and Salma Badrudin Thobhani as Non-Executive Directors were passed. The resolution for Pradeep Ramniklal Gosalia received 57.04% of the valid votes, while Salma Badrudin Thobhani's appointment secured 69.95% of the valid votes.

Rejected Resolutions

The EGM saw the rejection of two special resolutions regarding the appointment of independent directors. The proposal to appoint Ashish Atmaram Shah received 69.95% of the valid votes in favor but did not meet the higher threshold required for a special resolution. Similarly, the appointment of Anjana Paresh Shah was not passed, having received the same percentage of votes in favor. Both resolutions faced opposition from public non-institutional shareholders.

Shareholder Participation

A total of 2,345,178 votes were polled, representing approximately 62.68% of the total outstanding shares. The promoter group cast all of its 1,152,450 shares in favor of all resolutions. Public non-institutional shareholders participated with 1,192,728 votes, showing significant opposition to the resolutions for independent directors.