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.

Sudarshan Pharma Industries disclosed that its proposal to acquire a 9.50% equity stake in Med Therapy Biotechnology Inc., USA, remains under due diligence. The company confirmed that the transaction awaits confirmation from Med Therapy’s Board of Directors and the passage of necessary resolutions.

Acquisition Status

The Mumbai-based pharma firm issued a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This update follows a previous communication dated September 5, 2026, regarding the potential investment in the US-based biotechnology entity.

Sudarshan Pharma clarified that the proposal has been intimated to stakeholders but is not yet finalized. The company expects to provide further updates at the earliest possible time once the due diligence process concludes and regulatory approvals are secured.

Promoter Interest

The filing also addressed parallel proposals by the company’s promoters. Hemal Mehta, Chairman and Managing Director, and Sachin Mehta, Joint Managing Director, intend to acquire 1.50% each of Med Therapy’s equity shares.

These individual acquisitions are similarly subject to due diligence and pending board decisions from Med Therapy Biotechnology Inc. Sudarshan Pharma emphasized that these promoter-level deals are distinct from the corporate acquisition but follow the same procedural timeline.

Regulatory Compliance

The update was signed by Hemal Mehta on September 15, 2026. The company requested stock exchanges to record the status of these pending transactions. No financial figures or valuation details were disclosed for the proposed stakes.