Indrayani Biotech Limited has received a SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) notice from Hinduja Leyland Finance Limited regarding the classification of its credit facilities as Non-Performing Assets (NPA). The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SARFAESI Notice Details

The SARFAESI Demand Notice was published by Hinduja Leyland Finance Limited in 'The New Indian Express' on January 30, 2026. The notice indicates that term loans provided by the Non-Banking Financial Company (NBFC) have been classified as NPA due to non-payment of principal and interest installments.

Default Amount and Loan Structure

According to the regulatory filing, the current default amount as a borrower stands at Rs. 47,56,159.60, while as a co-borrower along with seven other co-borrowers, the default amount is Rs. 1,40,69,822.96. The loan facilities have specific terms and conditions that highlight the company's financial obligations.

Financial Indebtedness Overview

The disclosure reveals the company's broader financial obligations beyond the specific SARFAESI notice. The total amount of outstanding borrowings from banks and financial institutions stands at Rs. 41,00,01,653. Additionally, the company's total financial indebtedness, including both short-term and long-term debt, amounts to Rs. 54,48,47,022.

Company's Response and Next Steps

Indrayani Biotech Limited has stated that it is currently evaluating the contents of the SARFAESI notice. The company has indicated its intention to take all necessary actions to regularize the accounts and protect the interests of all stakeholders. This response suggests the company is actively working to address the NPA classification and resolve the outstanding obligations with Hinduja Leyland Finance Limited.

The disclosure was made on January 31, 2026, as part of the company's compliance obligations under SEBI regulations, ensuring transparency for investors and stakeholders regarding material developments affecting the company's financial position.

Indrayani Biotech Limited submitted its Q2FY26 financial results on December 11, following board approval and audit committee recommendations. The company demonstrated mixed performance with consolidated revenue growth offset by standalone revenue decline, while implementing significant board governance changes.

Q2FY26 Financial Performance

The company's consolidated operations showed robust growth with revenue from operations reaching ₹3,594.85 lakhs compared to ₹3,081.31 lakhs in the corresponding quarter of the previous year. However, profitability metrics presented a contrasting picture:

For the half-year period ended September 30, consolidated total income reached ₹6,790.97 lakhs compared to ₹6,268.65 lakhs in the corresponding period.

Standalone Results Analysis

The standalone financial performance revealed significant operational changes with revenue decline but improved profitability margins:

Board Governance Changes

The board meeting on December 11 approved several governance restructuring measures. Ms. Lakshmiprabha Kasiraman (DIN: 02885912) resigned from her position as Non-executive and Non-Independent Director effective November 13, citing personal commitments as the reason for her departure.

Following the resignation, the company reconstituted key committees with Dr. Bokara Nagarajan Padmaja Priyadarshini chairing the Nomination & Remuneration Committee, while Mr. Nangavaram Mahadevan Ranganathan leads the Stakeholders Relationship Committee.

Regulatory Compliance and Audit

The financial results received unmodified opinions from statutory auditors Venkatesh & Co, Chartered Accountants. The consolidated results encompass financial information from 7 subsidiaries and 2 step-down subsidiaries, with total revenues of ₹5,333.14 lakhs and total comprehensive profit of ₹47.26 lakhs for the subsidiaries during the period.

The board acknowledged previous compliance issues, including a fine of ₹16,520.00 for delayed appointment of a qualified company secretary as compliance officer, which has since been resolved with the appointment and payment of prescribed penalties.

Financial Position

As of September 30, the consolidated balance sheet reflects total assets of ₹27,445.71 lakhs with an equity base of ₹10,381.70 lakhs. The company maintains operations across diversified business segments through its subsidiary network, demonstrating operational resilience despite mixed quarterly performance metrics.