Pharmaids Pharmaceuticals issues ₹55 Lakhs guarantee to subsidiary
Pharmaids Pharmaceuticals Ltd has issued a corporate guarantee of ₹55 Lakhs to its unlisted material subsidiary, Adita Bio Sys Private Limited. The guarantee secures a loan facility availed under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 from State Bank of India. The Board of Directors had previously approved a guarantee limit not exceeding ₹75 Lakhs for this purpose.
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Pharmaids Pharmaceuticals Limited has issued a corporate guarantee of ₹55 Lakhs to its unlisted material subsidiary, Adita Bio Sys Private Limited. The guarantee was provided to secure a new loan facility availed by the subsidiary under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, an initiative by the Government of India. The facility has been sanctioned by State Bank of India, SME Branch, located in Tumkur.
The Board of Directors of Pharmaids Pharmaceuticals Limited, at its meeting held on May 29, 2026, had approved the provision of a corporate guarantee to banks or financial institutions. The approval covered a loan amount not exceeding ₹75 Lakhs proposed to be availed by Adita Bio Sys Private Limited. The actual guarantee agreement of ₹55 Lakhs was entered into with the bank on the intimation date.
The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirmed that the promoter, promoter group, or group companies do not have any interest in this transaction.
The corporate guarantee is classified as a contingent liability for Pharmaids Pharmaceuticals Limited. The company stated that the guarantee has been provided on behalf of a subsidiary which is part of the consolidated group, and presently, there is no financial impact on the company resulting from this arrangement.
The following table outlines the key details of the guarantee:
| S No | Particulars | Details |
|---|---|---|
| a. | Name of party for which guarantee was given | Adita Bio Sys Private Limited (“Adita”), an unlisted material subsidiary of the Company. (“Borrower”) |
| b. | Whether the promoter/ promoter group/ group companies have any interest in this transaction? | The promoter/ promoter group/ group companies do not have any interest in this transaction. |
| c. | Brief details of guarantee | The Company at its Board Meeting held on May 29, 2026 had approved to provide Corporate Guarantee to any Banks/ Financial Institutions for a new loan facility for an amount not exceeding Rs. 75,00,000/- (Rupees Seventy-Five Lakhs only), proposed to be availed by Adita, pursuant to Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, an initiative by Govt of India, subject to the terms of the sanction letter issued by such Banks/ Financial Institutions. The Corporate Guarantee Agreement of Rs. 55,00,000 (Rupees Fifty-Five Lakhs only) in favour of State Bank of India, SME Branch, 4th Cross, Ashok Nagar, Tumkur (“Bank”), to secure the new loan facility under ECLGS 5.0 availed by Adita, has been entered into by the Company and the Bank, on the intimation date. |
| d. | Impact of such guarantees on listed entity | The Corporate Guarantee provided is a contingent liability for the Company. This guarantee has been provided on behalf of a subsidiary of the Company which is part of the consolidated group. Presently, there is no impact of this guarantee on the Company. |
Historical Stock Returns for Pharmaids Pharmaceuticals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.65% | +4.81% | -7.02% | -42.08% | -50.62% | +34.84% |
How will the utilization of ECLGS 5.0 funds impact Adita Bio Sys's operational capacity and revenue growth?
What is Pharmaids Pharmaceuticals' strategy for managing the contingent liability if the subsidiary defaults on the loan?
Will Pharmaids seek additional corporate guarantees for other subsidiaries under the ECLGS framework?
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