BIOGEN PHARMACHEM INDUSTRIES LIMITED

BIOGEN PHARMACHEM INDUSTRIES LIMITED (BIOGEN) Annual Report for the Financial Year 2025-26.

Business overview BIOGEN PHARMACHEM INDUSTRIES LIMITED is primarily engaged in the business of trading in shares and securities. For the financial year 2025-26, the company's entire revenue was derived from other income, specifically from capital gains, interest, dividends, and speculation income. Its primary assets include investments in various equity instruments, an investment in a partnership firm, and long-term loans. The company does not engage in manufacturing activities and operates without fixed assets or inventory.

Key facts

• Revenue Mix (FY 2025-26): Total revenue of Rs. 255.80 Lakhs, with 100% derived from other income (dividend, capital gain, interest, speculation), and zero income from operations.
• Scale (FY 2025-26): Total assets amounted to Rs. 9,939.89 Lakhs, with equity share capital at Rs. 9,026.03 Lakhs.
• Asset Structure: The company operates without any fixed assets or inventory.
• Subsidiaries: BIOGEN does not have any subsidiary, associate companies, or joint ventures.
• Promoter Shareholding (as on March 31, 2026): Promoters hold 0% of the company's equity shares.
• Key Personnel: Mr. Kelash Bunkar serves as the Whole-time Director & Chief Financial Officer.

Recent developments (FY 2025-26)

• Capital Raise: The company's issued, subscribed, and paid-up capital increased from Rs. 6,526.03 Lakhs to Rs. 9,026.03 Lakhs, by allotting 25,00,00,000 equity shares through the conversion of fully convertible warrants on a preferential basis to a non-promoter group on April 15, 2025.
• Fund Utilization: Rs. 630.00 Lakhs received from the final call money on these converted warrants was fully utilized for the purpose for which the money was raised.
• Cost Reduction Efforts: The Board is implementing cost reduction measures and actively seeking a suitable opportunity to make the company operational.

Key risks flagged by management

• The company's future development is contingent on the commencement of operational activities.
• Business risk is considered minimal, with the primary identified risk factors being Government Policies and Human Resource Risk.

Pros

• The company reported a Net Profit of Rs. 85.95 Lakhs and a positive Net Cash Flow from Operating Activities of Rs. 156.83 Lakhs for FY 2025-26, indicating profitability and operational cash generation.
• It maintains adequate internal control systems for all its activities, and transactions are properly authorised, recorded, and reported.
• The Board of Directors collectively possesses a diverse range of skills and expertise, including project management, B2B sales, international business, financial management, and risk management.

Cons

• The Secretarial Auditor identified non-compliance issues for FY 2025-26, specifically regarding SEBI (LODR) Regulations for publishing board meeting/AGM notices and quarterly results, and the failure to appoint an Internal Auditor.
• The Management Discussion & Analysis Report states the company is "not engaged in any activity" and "unable to perform any business activities due to scarcity of working capital funds," which appears to contradict the stated business of trading in shares and securities and the reported financial performance.
• The Independent Auditor's Report states the company "incurred cash losses in the current financial year," which directly contradicts the positive Net Cash Flow from Operating Activities reported in the Cash Flow Statement for the same period.