Sanjivani Paranteral Limited reported a 14.3% year-on-year decline in standalone net profit after tax (PAT) to ₹692.3 lakh for the financial year ended March 31, 2026. The pharmaceutical manufacturer also saw its revenue from operations contract by 7.6% to ₹6,476.4 lakh, down from ₹7,009.9 lakh in FY25.

The company submitted its annual report and notice for the 32nd Annual General Meeting (AGM), scheduled for September 16, 2026, via video conferencing. Management attributed the revenue dip partly to logistical disruptions in export shipments during March 2026 due to geopolitical tensions in the Middle East, which delayed approximately ₹6 crore in finished goods dispatches.

Financial Performance

Despite the revenue contraction, Sanjivani Paranteral maintained an EBITDA margin of 16.4% in FY26, compared to the prior year's performance. The PAT margin stood at 10.7%. Total income for the standalone entity was ₹6,600.1 lakh, while total expenses were ₹5,677.0 lakh.

Note: EBITDA figures derived from reported highlights table showing '106' and '116' in unspecified units, contextualized as lakhs based on revenue scale.

Strategic Developments

FY26 marked a transition phase for Sanjivani Paranteral as it expanded its manufacturing capabilities. The company commissioned a new intravenous (IV) fluids facility in Pune through its subsidiary, SPL Infusion Private Limited. This facility is expected to become a significant growth engine in FY27.

Additionally, the company advanced its entry into the European nutraceutical market through Alevia Healthcare S.R.O. in Prague. The product portfolio expanded to 179 products, up from 160 in FY25, with injections contributing 53.45% of revenue and tablets accounting for 43.10%.

What the Numbers Show

A notable divergence exists between the company's operational cash generation and its investment outflows. While operating activities generated only ₹58.1 lakh in cash before taxes, the company deployed ₹446.7 lakh in investing activities. This heavy capital expenditure was primarily driven by the acquisition of property, plant, and equipment (₹261.5 lakh) and investments in equity capital for subsidiaries and associates. The financing activities provided a net inflow of ₹653.6 lakh, largely from proceeds of issuing shares (₹407.9 lakh) and borrowings, indicating a reliance on external funding to support capacity expansion despite lower operational cash flows.

Corporate Governance

The Board did not recommend a dividend for FY26. During the year, 402,606 warrants were converted into equity shares, completing the conversion of all 600,000 warrants originally allotted in February 2024. The Board appointed Mr. Basant Shrivastava as an Independent Director effective September 11, 2025.

Sanjivani Paranteral shareholders have approved the preferential issuance of up to 5,00,000 convertible warrants to entities within the promoter group. The special resolution passed via postal ballot on August 24, 2026, with overwhelming support from eligible public investors.

The company also secured approval for material related-party transactions with its subsidiary, SPL Infusion Private Limited, under Regulation 23 of the SEBI (LODR) Regulations, 2015.

Voting Results

The postal ballot notice was issued on July 23, 2026, with a record date of July 17, 2026. As on the record date, the company had 5,143 shareholders. The total shareholding stood at 12,284,300 shares.

Promoters and the promoter group, holding 3,877,527 shares, abstained from voting due to their interest in the resolutions. Consequently, only public non-institutional shareholders participated in the e-voting process.

Both resolutions received 99.91% of the valid votes polled in their favour. Only 1,957 votes were cast against each resolution.

What the Numbers Show

The voting participation rate among public non-institutional shareholders was approximately 29.36%, calculated against their total shareholding of 7,795,907 shares. Despite this moderate participation rate, the near-unanimous support (99.91%) indicates strong alignment among active retail and non-institutional stakeholders regarding the capital structure changes and related-party approvals.