Rekvina Laboratories Ltd

Dematerialisation confirmations

• Security dematerialisation requests for quarter ended 30 September 2026 were processed and confirmed to the depositories.
• Securities dematerialised have been listed on the exchanges where the earlier issued securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled after due verification.
• Depository name substituted as registered owner in the register of members within prescribed timelines.

AGM details

• Date and time: 29 September 2026, 2:30 PM; mode: Video Conferencing.
• Record date: 22 September 2026.
• Total shareholders on record: 2,636.
• Meeting conducted through VC/OAVM.

Key resolutions and outcomes

• Resolution 1: Adopt Audited Financial Statements for FY ended March 31, 2026; passed.
• Resolution 2: Re-appoint Ilaben Pathak as director; passed.
• Resolution 3: Appoint Prateek Jain as Independent Director; passed.
• Resolution 4: Appoint Jay Chintan Patel as Independent Director; passed.
• Overall voting: 100% in favour for all resolutions; no votes against.

Director changes

• Ilaben Pathak re-appointed as director (rotating).
• Prateek Jain appointed as Independent Director.
• Jay Chintan Patel appointed as Independent Director.

Voting process and report

• Remote e-voting and AGM voting combined; results uploaded on AGM date.
• Scrutinizer's report confirms all resolutions passed by majority.

AGM Details

• AGM held on Sep 29, 2026 at 2:30 PM via Video Conferencing.
• Quorum present and meeting declared in order.

Key Resolutions

• Ordinary: Adopt audited financial statements for FY ended Mar 31, 2026.
• Ordinary: Re-appointment of Mrs. Ilaben Pathak, retires by rotation.
• Special: Appointment of Mr. Prateek Jain as Independent Director.
• Special: Appointment of Mr. Jay Chintan Patel as Independent Director.
• Voting results not disclosed in excerpt.

Director Changes

• Two independent directors appointed: Prateek Jain and Jay Chintan Patel.

Rekvina Laboratories Limited trading window closed from October 01, 2026 until 48 hours after the declaration of Financial Results for the Quarter and Half Year ended September 30, 2026.

Registered office change

• Changed registered office within Vadodara city; effective 23 Sep 2026; address: 3rd floor, 5 Laxmi Society, Vadodara 390007.

Financial performance

• Revenue from operations: ₹126.54 lakh in FY2025-26.
• Total expenditure: ₹152.01 lakh; loss before tax ₹25.47 lakh.
• Profit after tax: ₹-25.47 lakh; tax nil.
• Earnings per share: ₹-0.42 (basic and diluted).
• Dividend not declared for the year.
• Net worth negative at ₹-122.82 lakh; high leverage.

Capital structure & liquidity

• Authorised share capital increased to ₹6 crore (1.20 crore equity shares).
• Equity share capital: ₹301.40 lakh (60.28 lakh shares).
• Borrowings: ₹147.27 lakh; net debt ₹145.74 lakh after cash.
• Cash and cash equivalents: ₹1.53 lakh; current assets increased.
• Current ratio: 0.49; negative net worth noted.

Governance changes

• Independent directors appointed: Prateek Jain (from 06-Oct-2025) and Jay Chintan Patel (from 29-Jan-2026).
• Resignations: Company Secretary Deepak Khandelwal on 02-Sep-2026.
• Board meetings: 9 in year; Audit Committee 5 meetings; NRC 4; Stakeholder 2.
• Regulatory governance: exempt from certain Corporate Governance requirements under Reg 15(2).
• Notice of AGM issued; Scrutinizer and Internal Auditor appointed.

Audit & secretarial

• Statutory auditors: Y. M. Shah & Co.; Secretarial auditor: S BhattBhatt & Co.
• Emphasis of matter: promoter share transmission pending due to death; shares under lock-in.
• SEBI LODR non-compliance on Regulation 47; filing delays; ₹64.13 lakh dues settled.
• MR-3 secretarial audit report annexed; governance processes in place.

Management discussion & analysis

• Industry: pharma formulations; single-segment focus.
• Outlook: accelerate revenue growth, improve working capital, and optimize costs.
• Risks: raw material price volatility, regulatory changes, competition, and working capital needs.
• No export activity; domestic focus and risk mitigation planned.
• Management aims for sustainable profitability and stronger customer relationships.

Related party transactions

• Related party transactions in ordinary course and at arm's length.
• Loans from related parties: MD ₹69.73 lakh; Director ₹77.54 lakh.
• Salaries to promoter-related persons: ₹4.95 lakh each to two relatives.
• Trade with Radiant Parenterals: ₹36.61 lakh during the year.

Strategic developments & outlook

• Proposed acquisition: Radiant Parenterals via swap of 46,27,750 shares at ₹10.
• Proposed preferential issue: 4,60,000 shares at ₹10 to Amit Rao family.
• Dividend policy: no dividend due to losses.
• CSR: not applicable for the year.
• Auditors flag no material going concern concerns per report.

AGM details

• AGM held on 29 September 2026 at 2:30 PM in online mode.
• Record and Share Transfer Books closed 23 September to 29 September 2026.
• Remote e-voting from 25 September to 28 September 2026.
• Voting cut-off date set at 22 September 2026.

Key resolutions

• Ordinary: Adoption of Audited Financial Statements for FY2025-26.
• Ordinary: Re-appointment of Ilaben Pathak as Director.
• Special: Appointment of Prateek Jain as Independent Director for five-year term from 06 Oct 2025.
• Special: Appointment of Jay Chintan Patel as Independent Director for five-year term from 29 Jan 2026.

Voting status

• Results to be declared within two working days after the AGM.

Directors & governance

• Re-appointment of Ilaben Pathak as Director.
• Prateek Jain appointed Independent Director for five-year term from 06 Oct 2025.
• Jay Chintan Patel appointed Independent Director for five-year term from 29 Jan 2026.

Auditors & secretarial

• Scrutinizer appointed for e-voting: S. Bhattbhatt & Co.
• Internal Auditor appointed: Hetanshi Shah & Associates.

Transaction details

• Target company: Rekvina Laboratories Limited.
• Disclosing party: Promoters Surbhit Mukesh Shah, Amit Mukesh Shah, Ami Amit Shah, Krima Surbhit Shah (promoter group).
• Transaction type: Acquisition of equity shares via open offer and preferential allotment.
• Pre-transaction voting rights: Surbhit Mukesh Shah 9,17,607; Amit Mukesh Shah 8,27,883; Ami 0; Krima 0.
• Post-transaction voting rights: Surbhit 30,17,427; Amit 30,17,426; Ami 3,33,845; Krima 3,33,843.
• Total post-voting rights: 67,02,541 (60.30%).
• Mode of acquisition: Open Offer and preferential allotment via share swap.
• Dates: August 12, 2026 (preferential allotment) and August 13, 2026 (open offer).
• Equity share capital before: 3,01,40,000.
• Equity share capital after: 5,55,78,750.
• Total diluted share capital after: 5,55,78,750.
• Note: Open Offer shares 5,43,570; Preferential Allotment 6,22,500.
• Note: Open Offer 8,293; Preferential Allotment 8,72,500.