Themis Medicare Limited , a prominent player in the pharmaceutical industry, has announced several key decisions following its 55th Annual General Meeting (AGM) held on September 12. The company has declared a dividend, appointed a new independent director, and selected a new secretarial auditor, signaling important developments for shareholders and stakeholders alike.

Dividend Declaration

The company's board has approved a dividend of Rs 0.50 per equity share, representing a 50% return on the face value of Re 1 per share. This dividend declaration amounts to a total payout of Rs 4.60 crore. The move demonstrates Themis Medicare's commitment to delivering value to its shareholders despite the challenging business environment.

New Independent Director Appointment

In a significant board-level change, Ms. Neha Thakore has been appointed as an Independent Woman Director of Themis Medicare. Her appointment is effective from August 1, for a five-year term extending until July 31. Ms. Thakore brings over 25 years of pharmaceutical industry experience to the board, which is expected to contribute valuable insights to the company's strategic direction.

Ms. Thakore's extensive background includes her current roles as Managing Partner of Rifa Pharma and Chief Operating Officer & Director at Avik Pharmaceutical Ltd. Her expertise spans business development, operations management, and international regulatory affairs. Additionally, she holds leadership positions in various industry committees, serving as the Chairperson of IDMA POSH, HR & ESG Committees.

Secretarial Auditor Appointment

The company has also appointed M/s. SAV & Associates LLP as its Secretarial Auditor for a term of five consecutive financial years. CS Shirish Shetye will serve as the representative for this role. This appointment ensures compliance with regulatory requirements and maintains transparency in the company's secretarial practices.

AGM Proceedings and Other Resolutions

During the AGM, shareholders approved several other resolutions, including:

1. Adoption of the Audited Standalone and Consolidated Financial Statements.
2. Re-appointment of Dr. Adam Demeter as a director, who was retiring by rotation.
3. Ratification of the remuneration for the Cost Auditor.
4. Approval for the payment of commission to Non-Executive Directors.

The meeting, which commenced at 10:00 AM and concluded at 11:00 AM, was held at the company's registered office in Vapi, Gujarat. Dr. Dinesh S. Patel, Chairman of Themis Medicare, presided over the proceedings.

These decisions reflect Themis Medicare's focus on corporate governance, shareholder returns, and strategic growth. The appointment of Ms. Thakore as an Independent Director, in particular, is expected to bring fresh perspectives to the company's board, potentially influencing its future direction in the competitive pharmaceutical landscape.

Themis Medicare , a prominent player in the pharmaceutical sector, has reported a significant downturn in its financial performance for the first quarter. The company's latest financial results reveal a stark contrast to its performance in the same period last year, highlighting challenges in the current business environment.

Financial Highlights

• Net Loss: Themis Medicare posted a consolidated net loss of ₹142.00 million, a substantial reversal from the ₹247.00 million profit recorded in the corresponding quarter of the previous year.
• Revenue Decline: The company's revenue saw a notable decrease, falling to ₹976.00 million from ₹1,300.00 million year-over-year, representing a decline of approximately 24.92%.
• EBITDA Performance: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) turned negative, with a loss of ₹101.00 million. This stands in contrast to the positive EBITDA of ₹292.00 million achieved in the same quarter of the previous year.

Performance Analysis

The dramatic shift from profit to loss indicates a challenging quarter for Themis Medicare. The substantial revenue decline of nearly 25% suggests potential issues in market demand, pricing pressures, or other external factors affecting the company's sales performance.

The negative EBITDA is particularly noteworthy, as it indicates that the company faced difficulties in maintaining profitability at the operational level. This could be due to increased operational costs, changes in product mix, or broader market challenges affecting the pharmaceutical sector.

Industry Context

While specific reasons for the downturn are not provided in the financial data, the pharmaceutical industry has been facing various challenges, including pricing pressures, regulatory changes, and global supply chain disruptions. Themis Medicare's performance may be reflective of these broader industry trends.

As the company navigates through these challenging times, investors and industry observers will be keenly watching for any strategic initiatives or measures Themis Medicare might implement to reverse this trend and return to profitability in the coming quarters.