Sudarshan Pharma Industries Ltd has completed the sale of its entire 51% equity stake in unlisted subsidiary Ishwari Healthcare Private Limited for a total consideration of ₹1.40 crore.

The transaction involved the transfer of 2,09,100 equity shares, each with a face value of ₹10, to Mr. Amit Jatin Mehta. Following this divestment, Sudarshan Pharma's shareholding in Ishwari reduced from 51% to nil, resulting in the entity ceasing to be a subsidiary of the company.

Transaction details

The sale was executed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed the completion of the deal on September 28, 2026, following an initial intimation regarding the stake sale on August 13, 2026.

Strategic shift

This move marks a complete exit from the healthcare subsidiary. The reduction in holding from a controlling majority to zero indicates a strategic decision to streamline operations by removing Ishwari Healthcare from the consolidated group structure. The transaction value implies an effective price of approximately ₹66.95 per share, derived from the total consideration divided by the number of shares sold.

What the numbers show

The sale price of ₹1.40 crore for a 51% stake values the entire equity of Ishwari Healthcare at approximately ₹2.75 crore. This valuation suggests that the subsidiary was likely a small-scale or non-core asset within Sudarshan Pharma's portfolio. The exit simplifies the corporate structure by eliminating minority interest complications and reducing administrative overhead associated with managing a non-listed subsidiary.

Sudarshan Pharma Industries Limited held its 18th Annual General Meeting on September 22, 2026, where all proposed resolutions were passed with 100% votes in favour. The meeting was conducted through Video Conferencing and Other Audio Visual Means to comply with regulatory guidelines.

Members adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026. The Board of Directors and Auditors' reports were also approved as part of the ordinary resolutions passed during the session. Voting results filed with the stock exchanges confirm that no votes were cast against either resolution.

Meeting proceedings and governance

The meeting was chaired by Hemal Mehta, Chairman and Managing Director. Joint Managing Director Sachin Mehta presented the company's financial performance and operational updates for FY26. The Chairman provided an overview of the current business environment and outlined the expansion and growth strategy for the coming period.

All directors, the Chief Financial Officer, Company Secretary, Statutory Auditors, and Secretarial Auditors attended virtually. The company ensured compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India circulars regarding virtual meetings.

Resolutions passed and voting details

The following key items of business were transacted at the meeting. Both resolutions required an ordinary majority and were approved unanimously by those present and voting.

Dr. Anil Ghogare, who retired by rotation, was eligible and offered himself for re-appointment. The members approved his continued role on the board through an ordinary resolution. The voting data indicates that promoters and promoter group held 51.19% of the outstanding shares, while public non-institutions accounted for 4.51% of the votes polled.

Scrutinizer's report and voting mechanics

Voting was conducted via electronic means, with remote e-voting facilities available prior to the meeting. Mr. Vishal Manseta, a practicing company secretary, served as the scrutinizer to ensure a fair and transparent counting process. The consolidated results of the voting have been declared pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

According to the scrutinizer's report, the remote e-voting period commenced on September 19, 2026, at 9:00 am and concluded on September 21, 2026, at 5:00 pm. Voting rights were reckoned based on shares held as on the cut-off date of September 15, 2026. Out of 1,250 shareholders on the cut-off date, 18 cast their votes through remote e-voting, while no additional votes were cast via e-voting during the AGM itself. Fifteen shareholders attended the meeting through video conferencing.