Bal Pharma logo

Bal Pharma MD, chairman, board of directors and AGM

NSE: BALPHARMABSE: 524824Pharmaceuticals & BiotechnologySmall Cap

Last close ₹81.09down ₹3.48 (4.11%)BSE ₹81.60

Share price at the NSE close on 23 Oct 2026. Previous close ₹84.57.

52-week range of traded prices to 23 Oct 2026
₹60.00Low, 30 Mar 2026₹124.60High, 10 Sep 2026
Market cap
₹129 Cr2,779th largest listed
P/E
17.9
P/B
1.6
Dividend yield
1.48%
ROE
9.0%
ROCE
9.3%
Debt to equity
1.94
Volume, NSE
18,242

Bal Pharma board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorSHAILESH SIROYA
  • Company Secretary and Compliance OfficerShreepada ML

6 directors3 independent2 executive1 non-executive

  • SHAILESH SIROYA · Chairperson and managing directorExecutive · joined Jul 1994 · reappointed Sep 2024 · 60 months as independent · 1 listed board · 1 committee seat
  • HIMESH VIRUPAKSHYAExecutive · joined Sep 2019 · reappointed Sep 2024 · 60 months as independent · 1 listed board
  • RAVINDRA KUMAR KOTHARINon-executive · joined May 2025 · 60 months as independent · 1 listed board · 1 committee seat
  • JATISH SHETHIndependent · joined Dec 2020 · reappointed Dec 2025 · 60 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • MUKESH BHEEKAMCHANDIndependent · joined Nov 2025 · 60 months as independent · 2 listed boards · 2 as independent · 2 committee seats
  • NICOLA NEELADRIIndependent · joined May 2020 · reappointed Aug 2023 · 60 months as independent · 2 listed boards · 2 as independent · 2 committee seats

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

2 directors who left
  • H.S VENKATESH, left 30 Sep 2025: Tenure Completion
  • KOTIAN CHITTANAND DAMODAR, left 16 May 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 12 Aug 20266 of 6 present3 independent · 76 days in between
    • 27 May 20266 of 6 present3 independent

  • Audit Committee

    Chair JATISH SHETH

    MUKESH BHEEKAMCHAND, NICOLA NEELADRI

    • 12 Aug 20263 of 3 present3 independent · 76 days in between
    • 27 May 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair JATISH SHETH

    MUKESH BHEEKAMCHAND, NICOLA NEELADRI, RAVINDRA KUMAR KOTHARI

    • 12 Aug 20264 of 4 present3 independent · 76 days in between
    • 27 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair JATISH SHETH

    MUKESH BHEEKAMCHAND, NICOLA NEELADRI, RAVINDRA KUMAR KOTHARI, SHAILESH SIROYA

    • 12 Aug 20265 of 5 present3 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Jun 2026.

  • SSJNB & COMPANYPeer-review certificate valid to Mar 2027
1 earlier auditor
  • SSJNB & CoNamed in filings from Mar 2025 to Mar 2026

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Bal Pharma AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Bal Pharma dividend history

Annual general meeting, 24 Sep 2026

15,535 shareholders on the register on 17 Sep 2026; present: 10 promoters and 48 others; votes counted by PARAMESHWAR G BHAT / PARAMESHWAR G BHAT.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, the Statement of Profit and Loss for the financial year ended as on that date and the Cash Flow Statement together with the Reports of the Board of Directors and the Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.25%

    Turnout: all 51.16% · promoters 100.00% · institutions 95.85% · other public 0.35%

  2. To declare dividend of Rs. 1.20 per Equity Share of Rs 10/- each
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.25%

    Turnout: all 51.16% · promoters 100.00% · institutions 95.80% · other public 0.35%

  3. To re-appoint Mr. Ravindra Kumar Kothari, (DIN : 03418320), who retires by rotation, as a Director of the Company
    Ordinary
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.27%

    Turnout: all 51.16% · promoters 100.00% · institutions 95.80% · other public 0.35%

  4. To ratify the remuneration payable to Cost Auditors for the Financial Year 2026-27.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.25%

    Turnout: all 51.16% · promoters 100.00% · institutions 95.80% · other public 0.35%

  5. To renew contract with Messrs. Desa Marketing International
    OrdinaryPromoters have an interest in it
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.27%

    Turnout: all 51.16% · promoters 100.00% · institutions 95.80% · other public 0.35%

  6. Change in designation of Mr. Ravindra Kumar Kothari (DIN – 03418320) from Non-Executive Director to Whole-Time Director
    Special
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.27%

    Turnout: all 51.16% · promoters 100.00% · institutions 95.80% · other public 0.35%

  7. Change in designation of Mr. Virupakshaya Himesh (DIN: 08554422) from Whole-Time Director to Non-Executive Director
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.27%

    Turnout: all 51.16% · promoters 100.00% · institutions 95.80% · other public 0.35%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 8 Aug 2026, 1 resolution

15,264 shareholders on the register on 3 Jul 2026; votes counted by PARAMESHWAR G BHAT / PARAMESHWAR G BHAT.The company's voting result (opens in a new tab)

  1. To consider the issue of 10,00,000 Warrants to the Promoter of the Company on preferential basis
    Special
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 7.92%

    Turnout: all 51.25% · promoters 100.00% · institutions 71.66% · other public 0.53%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 7 Feb 2026, 1 resolution

15,793 shareholders on the register on 2 Jan 2026; votes counted by PARAMESHWAR G BHAT / PARAMESHWAR G BHAT.The company's voting result (opens in a new tab)

  1. Appointment of Dr.Beekamchand Mukesh ( DIN # 11295580) as Independent Director of the Company, for a period of 5 years.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 10.40%

    Turnout: all 40.73% · promoters 79.67% · institutions 100.00% · other public 0.16%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 25 Sep 2025, 7 resolutions

16,120 shareholders on the register on 18 Sep 2025; present: 10 promoters and 26 others; votes counted by Parameshwar G Bhat / Parameshwar G Bhat.The company's voting result (opens in a new tab)

  1. TO RECEIVED, CONSIDER AND ADOPT THE AUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31.03.2025, THE STATEMENT OF PROFIT AND LOSS FOR THE YEAR EDED AS ON THAT DATE AND CASH FLOW STATEMENT TOGATER WITH REPORTS OF BOARD OF DIRECTORS AND AUDITORS THEREON.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.25%

    Turnout: all 49.25% · promoters 87.66% · institutions 73.74% · other public 9.27%

  2. TO DECLARE DIVIDNED OF RS.1.20 PER EQUITY SHARE OF RS.10 EACH.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.25%

    Turnout: all 49.25% · promoters 87.66% · institutions 73.74% · other public 9.27%

  3. TO APPOINT A DIRECTOR IN PLACE OF MR.HIMESH VIRUPAKSHYA ( DIN # 08554422) WHO WAS RETIRING BY ROTATTION AND BEING ELIGIBLE , OFFERED HIMSELF FOR REAPPOINTMENT.
    Ordinary
    99.69% for0.31% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.55%

    Turnout: all 49.25% · promoters 87.66% · institutions 73.74% · other public 9.27%

  4. TO APPOINT SECRETARIAL AUDITORS FOR A DURATION OF 5 YEARS.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.55%

    Turnout: all 49.25% · promoters 87.66% · institutions 73.74% · other public 9.27%

  5. To appoint Mr.Jatish Sheth ( DIN # 00581963 ) as Indepeeendent Director of the Company for second term.
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.55%

    Turnout: all 49.25% · promoters 87.66% · institutions 73.74% · other public 9.27%

  6. TO RATIFY THE REMUNERATION PAYABLE TO THE COST AUDITORS FOR F.Y 2025.26.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.55%

    Turnout: all 49.25% · promoters 87.66% · institutions 73.74% · other public 9.27%

  7. TO APPROVE 'BAL PHARMA LIMITED-EMPLOYEE STOCK OPTION PLAN -2025'.
    Special
    99.69% for0.31% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.55%

    Turnout: all 49.25% · promoters 87.66% · institutions 73.74% · other public 9.27%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 31 Jul 2025, 1 resolution

16,102 shareholders on the register on 27 Jun 2025; votes counted by PARAMESHWAR G BHAT / PARAMESHWAR G BHAT.The company's voting result (opens in a new tab)

  1. Appointment of Mr.Ravindra Kumar Kothari ( DIN# 03418320) as Non independent and Non executive Director of the Company for a term of 5 years.
    Ordinary
    99.90% for0.10% against

    Against: promoters 0.00% · other public 7.13%

    Turnout: all 31.20% · promoters 60.53% · other public 0.85%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 25 Sep 2024, 7 resolutions

Present: 1 promoter and 35 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone and consolidated financial results of the Commpany for the financial year ended 31.03.2024 togather with reports of the Board and Auditors
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 45.89% · promoters 81.92% · institutions 94.52% · other public 8.36%

  2. To declare dividned of Rs.1.20 per equity share of Rs.10 each i.e 12%
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 45.89% · promoters 81.92% · institutions 94.52% · other public 8.36%

  3. To appoint Director in place of Mr.Kotian Chittanand Damodar who is retiring by rotation and being eligible , offerrs himself for reappointment.
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 45.89% · promoters 81.92% · institutions 94.52% · other public 8.36%

  4. To Re-Appoint Mr.Himesh Virupakshya ( DIN # 08554422) as Wole Time Director of the Company and to fix his remuneration.
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 45.89% · promoters 81.92% · institutions 94.52% · other public 8.36%

  5. To re-appoint Mr.Shailesh Siroya ( DIN # 00048109) as Managing Director of the Company and to fix his remuneration.
    SpecialPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 45.89% · promoters 81.92% · institutions 94.52% · other public 8.36%

  6. Reclassification of the promoter group
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 45.89% · promoters 81.92% · institutions 94.52% · other public 8.36%

  7. To ratify the remuneration payable to the Cost Auditors for the financial year 2024-25
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.34%

    Turnout: all 45.89% · promoters 81.92% · institutions 94.52% · other public 8.36%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Meeting called by the tribunal, 21 Dec 2023, 1 resolution

Present: 2 promoters and 38 others.The company's voting result (opens in a new tab)

  1. Approval of scheme of amalgamation between Golden Drugs Private Ltd ( Transferer Company ) with its holding Company i.e Bal Pharma Limited ( Transferee Company )
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 33.06% · promoters 60.53% · institutions 0.00% · other public 4.20%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 25 Sep 2023, 5 resolutions

Present: 1 promoter and 33 others.The company's voting result (opens in a new tab)

  1. To receive , consider and adopt the audited standalone and consolidated finacial statements of the Company for the fiancial year ended 31st March,2023
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.22%

    Turnout: all 54.35% · promoters 81.53% · institutions 0.00% · other public 25.37%

  2. To declare a dividned of Re.1/- per equity share of Rs.10/- each.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.22%

    Turnout: all 54.35% · promoters 81.53% · institutions 0.00% · other public 25.37%

  3. To appoint Mr.Kotian Chittanand Damodar (din # 09613054) who was retiring by rotation and being eligible opted for reappointment.
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.22%

    Turnout: all 54.35% · promoters 81.53% · institutions 0.00% · other public 25.37%

  4. To renew contract with Desa Marketing International
    SpecialPromoters have an interest in it
    97.58% for2.42% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.42%

    Turnout: all 16.59% · promoters 0.00% · institutions 0.00% · other public 16.59%

  5. To ratify the remuneration payable to the cost auditor
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.22%

    Turnout: all 54.35% · promoters 81.53% · institutions 0.00% · other public 25.37%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 1 complaint open, quarter to Sep 2026.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
No
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.