Morepen Labs announces 41st AGM on Sep 26, proposes ₹0.20 final dividend
Morepen Laboratories Limited will hold its 41st AGM on September 26, 2026, proposing a final dividend of ₹0.20 per share. Key proposals include director re-appointments and elevations, with Mr. Sanjay Suri becoming Managing Director and Mr. Sushil Suri continuing as Chairman & Managing Director. The company also seeks to extend the timeline for hiving off its medical devices business until the 42nd AGM.
The AGM agenda includes significant corporate actions such as dividend declaration, director re-appointments, and changes in managerial designations, along with the extension of a business transfer timeline. These events have a material impact on the company's governance and strategic operations.
The announcement is primarily procedural, detailing the upcoming AGM, dividend proposal, and director appointments. While these are important corporate events, they do not inherently signal a significant positive or negative shift in the company's immediate financial performance or outlook.
Morepen Laboratories Limited has announced its 41st Annual General Meeting (AGM) scheduled to be held on Saturday, September 26, 2026, at 1:00 PM IST through Video Conferencing/Other Audio-Visual Means (VC/OAVM).
The company will seek approval for a final dividend of ₹0.20 per equity share for the financial year 2025-26. The record date for determining eligibility for this dividend and for remote e-voting is Saturday, September 19, 2026.
Key agendas for the AGM include the adoption of audited financial statements for the fiscal year ended March 31, 2026, the declaration of the final dividend, and the re-appointment of directors. Mr. Sanjay Suri is set to be appointed as a Director liable to retire by rotation and is also proposed for elevation from Whole-Time Director to Managing Director with effect from July 1, 2026, with a remuneration package including basic pay up to ₹4.00 crore, perquisites up to ₹2.00 crore, and commissions/incentives up to ₹8.00 crore per annum. Mr. Sushil Suri is proposed for re-appointment as Chairman & Managing Director for a period of three years from October 20, 2026, with a remuneration package including basic pay up to ₹5.00 crore, perquisites up to ₹1.50 crore, and commissions/incentives up to ₹10.00 crore per annum.
Furthermore, the company plans to seek approval for extending the timeline for hiving off its Medical Devices Business into its subsidiary, Morepen Medipath Limited, as a going concern on a slump sale basis. The proposed extension is up to the 42nd AGM in 2027, with the business valued at ₹19,710.12 lakhs (₹197.10 crore). The effective date of transfer for this business is proposed as April 1, 2026.
The book closure period for the AGM will be from Sunday, September 20, 2026, to Saturday, September 26, 2026. Remote e-voting will commence on Wednesday, September 23, 2026, at 9:00 AM and conclude on Friday, September 25, 2026, at 5:00 PM.
A plain-language summary of a public exchange filing by Morepen Laboratories Limited. Read the original for the full detail.