Mangalam Drugs & Organics Limited announced significant board-level changes following a meeting held on February 6, 2026. The company's Board of Directors addressed key leadership transitions, including a director resignation, new CFO appointment, and director re-appointment during the session that lasted from 12:00 P.M. to 2:25 P.M.

Director Resignation and Transition

The board formally accepted the resignation of Shri Rukmesh P. Dhandhania from his position as Independent Director, effective January 16, 2026. In his resignation letter, Dhandhania cited his decision to retire from professional responsibilities after years of committed service to the institution. His departure also resulted in his cessation from membership of the Audit Committee and Nomination and Remuneration Committee.

New Chief Financial Officer Appointment

The board approved the appointment of Mr. Jeevan M. Dalvi as Chief Financial Officer and Key Managerial Personnel, effective February 6, 2026. Dalvi brings over two decades of experience in accounts and finance to his new role.

Independent Director Re-appointment

The board considered and approved the re-appointment of Dr. Praveen Saxena as Independent Director for a second term of five years, from March 21, 2026, to March 20, 2031. This re-appointment is subject to shareholder approval through a Special Resolution.

Dr. Saxena brings extensive international expertise in energy policy and renewable energy sectors. He has been recognized with the International Business Leadership Innovation Excellence Award by the Institute of Economic Studies, Government of Malaysia in 2017. His credentials include:

• Over 50 research publications in international journals
• Leadership experience in energy policy formulation
• Strategic oversight of solar and small hydro programs
• International representation of India's renewable energy interests
• Consultancy experience with multiple countries on renewable energy development

Regulatory Compliance

All announcements were made in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015. The company has requested both BSE Limited and National Stock Exchange of India Limited to take note of these changes in their records.

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.