Lyka Labs Limited has informed stock exchanges about the resignation of its cost auditors for the financial year 2025-26. The pharmaceutical company submitted the intimation to BSE and NSE on March 6, 2026, in compliance with regulatory requirements.

Cost Auditor Resignation Details

Messrs Rajaram Madhav Walavalkar & Co., Cost Accountants, Mumbai, have resigned from their position as cost auditors of the company. The auditing firm, holding registration number 003584, submitted their resignation letter dated March 5, 2026.

Regulatory Compliance

The company has disclosed this information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation includes all required details as specified in Schedule III - Part A, Para A(7) of the SEBI regulations and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/p/0155 dated November 11, 2024.

Reason for Change

In their resignation letter, the cost auditors cited their inability to continue due to engagement in another professional assignment. The firm expressed appreciation for the cooperation and support extended by the company's board, management, and finance teams during their association with the organization.

Company Response

Shailendra Kumar Agrawal, Company Secretary and Compliance Officer of Lyka Labs Limited, signed the intimation letter digitally on March 6, 2026. The company has requested the stock exchanges to take the intimation on record and will initiate necessary formalities for appointing new cost auditors for the financial year 2025-26.

Lyka Labs Limited announced its Q3FY26 financial results for the quarter ended December 31, 2025, revealing a challenging performance with declining revenue and profitability. The pharmaceutical company's Board of Directors approved the unaudited financial results in their meeting held on January 29, 2026.

Standalone Financial Performance

The company's standalone operations showed mixed results for the third quarter of FY26. Revenue from operations declined 6.6% year-over-year, reflecting the challenging market conditions faced by the pharmaceutical sector.

The company's net profit experienced a sharp decline of 89.6% to ₹27.99 lakhs in Q3FY26 compared to ₹269.85 lakhs in the corresponding quarter of the previous year. This significant drop in profitability was primarily attributed to higher operational expenses and reduced operational efficiency.

Nine-Month Performance Analysis

The nine-month period ended December 31, 2025, presented even more challenging results for Lyka Labs. The company reported a substantial decline in revenue and moved into loss territory.

The nine-month performance highlighted the company's operational challenges, with revenue from operations declining 10.9% to ₹9,287.46 lakhs from ₹10,418.09 lakhs in the previous year. The company reported a net loss of ₹255.14 lakhs compared to a profit of ₹692.10 lakhs in the same period last year.

Consolidated Results

On a consolidated basis, which includes subsidiaries Lyka BDR International Limited and Lyka Exports Limited, the company's performance was similarly challenging. Consolidated revenue from operations declined to ₹3,072.80 lakhs in Q3FY26 from ₹3,379.76 lakhs in Q3FY25. The consolidated net loss stood at ₹15.12 lakhs compared to a profit of ₹270.40 lakhs in the corresponding quarter of the previous year.

Operational Highlights

During the quarter under review, the company redeemed 1,08,570 preference shares on September 30, 2025, paying a premium of ₹217.14 lakhs, which was adjusted against the General Reserve. Additionally, effective November 21, 2025, the Government of India consolidated 29 existing labour legislations into four Labour Codes, resulting in a one-time incremental impact of ₹11.41 lakhs under Employee Benefit Expenses.

Corporate Governance

The financial results were reviewed by the Audit Committee and subsequently approved by the Board of Directors. The statutory auditors D. Kothary & Co. expressed an unqualified opinion on both standalone and consolidated unaudited financial results. The company operates primarily in the pharmaceuticals segment and maintains its paid-up equity share capital at ₹3,569.00 lakhs with a face value of ₹10 per share.