Mangalam Drugs & Organics Limited announced its quarterly results for Q3 FY26 during a board meeting held on January 15, 2026. The pharmaceutical company reported challenging financial performance alongside significant management changes that will impact its organizational structure.

Board Meeting Outcomes

The Board of Directors convened from 12:00 PM to 2:30 PM on January 15, 2026, to transact key business matters. The meeting addressed the approval of unaudited financial results for the quarter ended December 31, 2025, pursuant to Regulation 33 of the SEBI LODR Regulations.

Financial Performance Overview

The company's consolidated financial results revealed a substantial decline in profitability during the quarter. The performance metrics demonstrate the challenges faced by the bulk drug manufacturer in the current market environment.

Nine-Month Performance Analysis

The nine-month period ending December 31, 2025, showed even more pronounced challenges for the company. Despite maintaining operational activities, the extended period results highlighted persistent difficulties in maintaining profitability.

Key Management Resignations

The board meeting formally accepted two significant resignations from key managerial personnel, both citing different reasons for their departure from the company.

Chief Financial Officer Resignation

Ajay Samant tendered his resignation from the position of Chief Financial Officer on November 5, 2025, with his last working day scheduled for January 31, 2026. The resignation was attributed to health reasons, as stated in his formal letter to the Managing Director.

Company Secretary Departure

Anuradha Pandey submitted her resignation as Company Secretary and Compliance Officer on January 2, 2026, with her tenure concluding on March 29, 2026. Her resignation letter indicated the decision was made to pursue opportunities that align more closely with her long-term career goals and aspirations.

Operational Highlights

The company's business operations continue to focus on a single reportable segment: Manufacturing of Bulk Drugs. Key operational expenses showed mixed trends during the quarter.

Regulatory and Compliance Updates

The company noted the implementation of New Labour Codes effective from November 21, 2025, consolidating twenty-nine existing labour legislations into four unified codes. The full impact of these codes will be evaluated as supporting rules are yet to be notified by the government, with assessment planned by March 31, 2026.

Additionally, the company's merger scheme involving Mangalam Laboratories Private Limited and Shri JB Pharma Private Limited remains pending approval from the National Company Law Tribunal, with the final hearing scheduled for March 10, 2026.

Audit and Compliance

The unaudited financial results received limited review from statutory auditors V.S. Somani & Co., who confirmed no modified opinions were expressed regarding the quarterly results. The audit committee reviewed the results before board approval, ensuring compliance with applicable regulations and accounting standards.

Mangalam Drugs & Organics Limited has issued a clarification to BSE Limited regarding recent price movements in its stock, confirming that no undisclosed material information is influencing the security's trading behavior. The pharmaceutical company's response, dated January 7, 2026, addresses BSE surveillance queries about unusual price activity.

Company's Position on Price Movement

The company has taken a clear stance on the recent price fluctuations, emphasizing that it bears no responsibility for market-driven price changes. According to the official communication, Mangalam Drugs & Organics believes that price movements are purely driven by market sentiment and investor behavior rather than any company-specific developments.

Regulatory Compliance Statement

The company has assured stakeholders of its commitment to regulatory compliance and transparency. In its response to BSE surveillance, Mangalam Drugs & Organics confirmed that it has been disclosing material information wherever applicable and in a timely manner. The management stated that to the best of their knowledge and belief, there is currently no material information or announcement pending dissemination that could impact the stock's price behavior.

Market Sentiment Attribution

Rather than attributing price movements to specific corporate developments, the company has pointed to broader market dynamics as the primary driver. The management emphasized that it would not be feasible for the company to respond to every price movement, given that such fluctuations are typically influenced by investor sentiment and market conditions beyond the company's direct control.

The clarification serves to address regulatory concerns while maintaining transparency with investors about the company's current operational status and disclosure practices.