Medicamen Biotech Limited has disclosed receiving a cautionary letter from the National Stock Exchange of India Limited regarding observations in its Secretarial Compliance Report. The company made this disclosure on February 21, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Communication Details

The company received the cautionary letter via email from NSE on January 27, 2026. The communication pertained to observations reported by the Secretarial Auditor in the Annual Secretarial Compliance Report submitted for the financial year ended March 31, 2025.

Nature of Observations

According to the disclosure, the Secretarial Auditor had reported certain observations in the Annual Secretarial Compliance Report. While specific details of the violations or contraventions were not elaborated, NSE advised the company to exercise greater caution in future operations.

The exchange specifically recommended that Medicamen Biotech:

• Avoid recurrence of such lapses in compliance
• Adhere strictly to requirements of applicable provisions and regulations
• Ensure compliance with Listing Regulations going forward

Business Impact Assessment

The company has explicitly stated that the cautionary letter has no impact on its financial position, operations, or other business activities. This disclosure was made in compliance with Schedule III of the Listing Regulations and SEBI Master circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Regulatory Compliance Framework

The disclosure was signed by Parul Choudhary, Company Secretary (ACS: 44157), and submitted to both BSE Limited and National Stock Exchange of India Limited. The company maintains its commitment to regulatory compliance and has acknowledged the need for enhanced adherence to listing obligations in future reporting periods.

Medicamen Biotech Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, along with significant board-level changes. The pharmaceutical company's Board of Directors approved the results at a meeting held on February 13, 2026, while also addressing important governance matters.

Financial Performance Overview

The company's standalone financial performance for Q3 FY26 showed mixed results compared to the previous year. Net sales from operations reached ₹4,349.07 lakhs, representing growth from ₹4,114.23 lakhs in Q3 FY25. Total revenue, including other income, stood at ₹4,402.57 lakhs compared to ₹4,128.30 lakhs in the corresponding quarter of the previous year.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company's performance showed a different trend. While revenue from operations declined slightly to ₹12,416.50 lakhs from ₹12,546.79 lakhs in the previous year, net profit decreased more significantly to ₹643.65 lakhs from ₹704.94 lakhs, representing a decline of approximately 8.70%.

Consolidated Results

On a consolidated basis, the company reported net profit of ₹163.47 lakhs for Q3 FY26 compared to ₹292.20 lakhs in Q3 FY25. Consolidated revenue from operations increased to ₹4,690.85 lakhs from ₹4,514.22 lakhs in the previous year quarter. The consolidated results include subsidiaries Opal Pharmaceuticals Pty Ltd and Medicamen Life Sciences Private Limited.

Board Changes and Committee Reconstitution

A significant development during the quarter was the completion of tenure for two Independent Directors. Mr. Harish Pande (DIN: 01575625) and Mr. Arun Kumar (DIN: 07031730) ceased to be Independent Directors upon completion of two consecutive terms of 5 years each at the closure of business hours on February 13, 2026.

The Board approved the reconstitution of all major committees effective from February 13, 2026, to ensure continued compliance with governance requirements following the directors' tenure completion.

Operational Highlights

The company's cost structure showed some variations during the quarter. Cost of materials consumed decreased to ₹2,124.86 lakhs from ₹2,787.80 lakhs in Q3 FY25, while employee benefit expenses increased to ₹552.89 lakhs from ₹544.07 lakhs. Other expenses rose to ₹961.11 lakhs from ₹767.14 lakhs in the corresponding previous quarter.

The financial results were reviewed by statutory auditors Rai Qimat & Associates, Chartered Accountants, who provided limited review reports for both standalone and consolidated results. The company operates primarily in the pharmaceutical formulations segment and maintains its paid-up equity share capital at ₹1,356.28 lakhs with shares of ₹10 face value each.