SMS Lifesciences India Limited , a manufacturer of Active Pharmaceutical Ingredients (APIs) and their intermediates, has released its financial results for the first quarter, showing a decline in revenue and profit compared to the same period last year.

Financial Performance

The company reported the following standalone financial results for Q1:

SMS Lifesciences India experienced a decrease in revenue from operations, which stood at Rs. 7,904.27 lakhs for the quarter, compared to Rs. 8,657.06 lakhs in the corresponding quarter of the previous year, marking a decline of 8.70%.

The company's net profit decreased to Rs. 515.77 lakhs from Rs. 645.99 lakhs in the previous year's quarter, representing a 20.16% year-over-year reduction. Consequently, the earnings per share (EPS) also declined to Rs. 17.06 from Rs. 21.37 in the same period last year.

Consolidated Results

On a consolidated basis, which includes the results of its subsidiary Mahi Drugs Private Limited, SMS Lifesciences India reported:

• Revenue from operations of Rs. 8,250.46 lakhs, down from Rs. 9,254.82 lakhs in the previous year's quarter
• Net profit of Rs. 438.21 lakhs, compared to Rs. 709.63 lakhs in the previous year's quarter

Board Meeting Outcomes

The company's Board of Directors met on August 11 and approved several key items:

1. The unaudited standalone and consolidated financial results for Q1
2. The Board Report for the year ended March 31
3. Scheduling of the 19th Annual General Meeting (AGM) for September 30, to be conducted through video conferencing
4. Approval of various policies, including:
   • Code of Conduct for Prevention of Insider Trading
   • Policy on determination of material events information
   • Policy for Prevention of Sexual Harassment

Annual General Meeting

SMS Lifesciences India Limited has scheduled its 19th Annual General Meeting for Tuesday, September 30. The meeting will be held through video conferencing mode, in compliance with the latest SEBI and MCA circulars.

Auditor's Review

Rambabu & Co., Chartered Accountants, conducted a limited review of the financial results and expressed an unmodified opinion on both the standalone and consolidated financial statements for the quarter.

The company continues to focus on its core business of manufacturing Active Pharmaceutical Ingredients and their intermediates, which constitutes a single reportable business segment as per Indian Accounting Standard 108.

Investors and stakeholders can access the detailed financial results and newly approved policies on the company's website at www.smslife.in/policies.php .

SMS Lifesciences India Limited has announced the results of its recent postal ballot, revealing overwhelming shareholder support for six key resolutions that will shape the company's future direction and governance.

Resolutions Passed

The postal ballot, conducted from July 1 to July 30, 2025, saw shareholders voting on six resolutions:

1. Change of Company Name: Shareholders approved a special resolution to change the company's name, with consequential amendments to the Memorandum of Association and Articles of Association.

2. Executive Director Reappointment: Mr. TV Praveen was reappointed as Executive Director for a further three-year term through a special resolution.

3. Increase in Individual Managerial Remuneration: A special resolution was passed to increase the individual managerial remuneration limits for executive directors under Section 197 of the Companies Act, 2013.

4. Increase in Overall Managerial Remuneration: Shareholders approved a special resolution to increase the overall managerial remuneration limits for executive directors in accordance with Regulation 17(6)(e) of SEBI Listing Obligations and Disclosure Requirements.

5. Approval of Material Related Party Transactions: An ordinary resolution was passed to approve material related party transactions for the company for the year 2025-26.

6. Approval of Material Subsidiary's Related Party Transactions: Shareholders approved an ordinary resolution for material related party transactions of the company's material subsidiary for 2025-26.

Voting Results

The resolutions received overwhelming support from shareholders, with most garnering over 99% approval from those who voted. The voting process was conducted entirely through e-voting, in line with current corporate governance practices.

Scrutinizer's Report

The postal ballot process was scrutinized by Mr. C. Sudhir Babu, a practicing Company Secretary, who confirmed the fair and transparent conduct of the e-voting process. The scrutinizer's report, dated July 31, 2025, validated the voting results and declared all resolutions as passed with the requisite majority.

Effective Date

As per the announcement, these resolutions are deemed to have been passed on July 30, 2025, which marked the conclusion of the postal ballot process.

The approval of these resolutions signals a significant moment for SMS Lifesciences India Limited, potentially setting the stage for strategic changes and operational adjustments in the coming years. Shareholders have demonstrated strong confidence in the company's proposed changes, particularly in areas of corporate identity, leadership, and financial governance.

The company is expected to implement these approved changes in due course, which may include unveiling its new corporate name and adjusting its remuneration structures for executive leadership. Stakeholders will likely be keen to observe how these changes impact the company's operations and market positioning in the pharmaceutical sector.