Parnax Lab Limited concluded its 44th Annual General Meeting on September 29, 2026, approving all proposed resolutions including the adoption of standalone and consolidated financial statements for FY26. The meeting, held via video conferencing, saw the reappointment of Chairman and Managing Director Mihir P. Shah and the appointment of new statutory auditors.

Key Resolutions Passed

The members unanimously passed four ordinary resolutions during the virtual meeting. These included the adoption of audited annual accounts for the year ended March 31, 2026, along with the Board’s report. Additionally, Mr. Mihir P. Shah was reappointed as a director retiring by rotation. The company also appointed M/s. Ladha Singhal & Associates, Chartered Accountants, as its new statutory auditors for a five-year term. A material related party transaction with Naxpar Pharma Private Limited was also approved.

Management Commentary

During the proceedings, Chairman Mihir Shah highlighted the company’s 44-year journey, emphasizing its position as a leading contract manufacturer for pharmaceutical formulations in dosage forms such as liquid, ointment, powder, cosmetic, and herbal products. He noted significant global footprint expansion and synergy among management, investors, customers, suppliers, and employees. The Chairman addressed macroeconomic outlooks, financial performance, new business orders, product development, PICS approval, customer expansion, and future growth strategies, citing strong revenue and EBITDA growth.

Voting and Compliance Details

The meeting was validly convened under Section 103 of the Companies Act, 2013, with 41 members attending virtually. Six directors, including Audit Committee Chairman Yogesh Varia, were present alongside statutory and secretarial auditors. Remote e-voting facilities were extended to shareholders holding shares as of September 22, 2026, with the voting window open from September 26 to September 28, 2026. Mr. Kunal Sakpal of M/s. HSPN & Associates LLP served as the scrutinizer. No registered speakers participated via video conferencing. The detailed voting results will be submitted separately in accordance with Regulation 44(3) of the SEBI Listing Regulations.

Parnax Lab has scheduled its 44th Annual General Meeting for September 29, 2026. The meeting will address the adoption of FY26 accounts and key governance matters.

The event will be conducted through Video Conferencing or Other Audio-Visual Means, as permitted by Ministry of Corporate Affairs circulars. Shareholders holding shares as of the record date, September 22, 2026, are eligible to vote.

Ordinary Business Agenda

The ordinary business includes the reappointment of Mr. Mihir M. Shah as a director. He retires by rotation and offers himself for reappointment. Mr. Shah holds 1,141,250 shares in the company as of March 31, 2026.

Additionally, shareholders will vote to appoint M/s. Ladha Singhal & Associates as the statutory auditors. The firm will serve a five-year term from the conclusion of this AGM until the 49th AGM.

Related Party Transactions

A special business item involves approving material related-party transactions with Naxpar Pharma Private Limited, a subsidiary of Parnax Lab. The transactions cover sales and purchases of materials and interest received on loans.

These arrangements are proposed for the financial years 2026-27 and 2027-28, valid until the next AGM in calendar year 2027. The Audit Committee has recommended these transactions, noting they are conducted at arm's length.

Voting Mechanism

Remote e-voting will be available from September 26, 2026, at 9:00 am to September 28, 2026, at 5:00 pm. The facility is provided by MUFG Intime India Private Limited. Shareholders can vote via NSDL, CDSL, or the InstaVote platform depending on their holding mode.