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Parmax Pharma Ltd (540359)

📊 BSE: 540359 🏢 Pharmaceuticals 📢 Latest filing: 28 Sep 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Parmax Pharma's revenue was ₹8.2 Cr (+323.8% year on year, +148.4% on the previous quarter), and net profit ₹2.2 Cr (against a loss a year earlier); the operating margin was 10.1%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹8.2	+323.8%	+148.4%
Operating profit	₹0.8	from loss	from loss
Net profit	₹2.2	from loss	from loss
EPS (₹)	5.88	from loss	from loss
Operating margin	10.1%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Parmax Pharma Reports Major Fire Incident at Hadamtala Plant; 2 Employees Injured

🔴 NEGATIVE ⭐ 7/10

OTHER 📅 28 Sep 2026, 01:32 PM

Parmax Pharma reported a major fire accident that occurred at approximately 2:00 a.m. on September 28, 2026, at its plant in Hadamtala, Rajkot, Gujarat. The fire has been controlled, but two employees were injured and hospitalised; no fatal casualties were reported. The company stated that the quantum of loss is currently being assessed and confirmed that damages are covered by insurance. Given the company's micro-cap size (Rs 51 Cr market cap) and negative net worth (-Rs 6 Cr), any plant downtime could materially disrupt operations.

Major fire accident occurred at around 2:00 a.m. on September 28, 2026
Incident took place at the plant located in Hadamtala, Rajkot, Gujarat
2 employees were injured and hospitalised; no fatalities reported
Quantum of loss is under assessment, but damages are stated to be covered by insurance

💡 Monitor subsequent exchange disclosures regarding the assessed financial damage, insurance claim settlements, and the operational shutdown or restart timeline of the plant.

Parmax Pharma Allots Shares and Warrants to Raise Up to ₹19.28 Cr on Preferential Basis

🟢 POSITIVE ⭐ 9/10

FUNDRAISE 📅 29 Aug 2026, 04:22 PM

Parmax Pharma has approved the allotment of 31,37,586 equity shares at ₹36.50 per share, raising ₹11.45 Cr immediately. The board also allotted 21,45,145 convertible warrants at ₹36.50 each (convertible within 18 months), adding a potential ₹7.83 Cr. The total potential raise of ₹19.28 Cr compares to a market cap of ₹49 Cr (~39%) and TTM revenue of ₹18 Cr (~107%). Several allottees, including Managing Director Umang Gosalia, are shifting to the Promoter/Promoter Group classification.

Allotted 31,37,586 equity shares at ₹36.50 per share (₹10 face value + ₹26.50 premium), raising ₹11.45 Cr
Allotted 21,45,145 convertible warrants at ₹36.50 per warrant, exercisable within 18 months
Total potential capital infusion stands at ₹19.28 Cr across 14 equity and 13 warrant allottees
Key allottees including Dhiren Chandulal Shah (12.63% post-issue) and MD Umang Gosalia (6.01% post-issue) classified under Promoter/Promoter Group

💡 Track receipt of listing/trading approvals on BSE for the newly allotted shares, and watch for subsequent warrant conversion notices and debt repayment or capex deployments.

Parmax Pharma: Acquirers to Take Over 30.80% Stake and Reclassify as New Promoters

🟢 POSITIVE ⭐ 9/10

M&A 📅 24 Aug 2026, 05:46 PM

Parmax Pharma has announced a proposed change in promoter classification following an Open Offer and a Share Purchase Agreement dated June 08, 2026. Acquirers Dhiren Chandulal Shah, Sunil Chinubhai Shah, and PACs have agreed to acquire 11,52,450 equity shares (30.80% of equity share capital) from erstwhile promoters Alkesh Gopani, Vipul Gopani, and Pravina Gopani. Upon completion of share transfers and open offer formalities, the incoming acquirers and PACs will be classified as Promoters and Promoter Group, while the selling promoters will be reclassified under the public category.

Share Purchase Agreement dated June 08, 2026 involves acquisition of 11,52,450 equity shares representing 30.80% stake
Erstwhile promoters selling their entire 30.80% stake: Alkesh Gopani (17.92%), Vipul Gopani (12.87%), and Pravina Gopani (0.02%)
Acquirers (Dhiren Chandulal Shah, Sunil Chinubhai Shah) along with PAC 2 & PAC 9 to be classified as new Promoters
Remaining PACs (PAC 1, 3, 4, 5, 6, 7, 8, and 10) to join the Promoter Group category under Regulation 31A

💡 Track the final closure and settlement of the open offer, subsequent share transfer filings, and any strategic turnaround or capital infusion plans outlined by the incoming management.

Post-Offer Advertisement Issued for 26% Open Offer in Parmax Pharma

🟡 NEUTRAL ⭐ 3/10

M&A 📅 24 Aug 2026, 02:05 PM

Fedex Securities Private Limited has submitted the post-offer advertisement for the open offer of Parmax Pharma Limited pursuant to Regulation 18(12) of the SEBI (SAST) Regulations, 2011. The open offer was made by acquirers Dhiren Chandulal Shah and Sunil Chinubhai Shah along with 10 Persons Acting in Concert (PACs) for up to 23,46,250 equity shares, representing 26.00% of the expanded voting share capital. The advertisement was published across English, Hindi, Gujarati, and Marathi daily newspapers on August 24, 2026.

Open offer for up to 23,46,250 fully paid-up equity shares of face value ₹10.00 each.
Tender size represents 26.00% of the Expanded Voting Share Capital.
Offer made by Acquirers Dhiren Chandulal Shah and Sunil Chinubhai Shah alongside 10 PACs.
Post-offer advertisement published on August 24, 2026, pursuant to SEBI (SAST) Regulation 18(12).

💡 Track subsequent shareholding pattern updates to assess the final promoter/acquirer stake and changes in board composition or management control.

Parmax Pharma Gets BSE Nod for ~Rs 19.3 Cr Preferential Issue of Shares and Warrants

🟢 POSITIVE ⭐ 9/10

FUNDRAISE 📅 22 Aug 2026, 04:25 PM

Parmax Pharma received in-principle approval from BSE for its proposed preferential issue of up to 31,37,586 equity shares and 21,45,145 convertible warrants at a minimum price of Rs 36.50 each. The total potential capital infusion is approximately Rs 19.28 crore, which exceeds the company's TTM revenue of Rs 18 crore. This capital injection is crucial given the company's negative net worth of Rs -6 crore and debt of Rs 12 crore. However, the issue price of Rs 36.50 represents a steep discount to the current market price of Rs 127.4.

Received BSE in-principle approval dated August 21, 2026 under SEBI LODR Regulation 28(1)
Issuance of 31,37,586 equity shares of face value Rs 10 at not less than Rs 36.50 each (min ~Rs 11.45 Cr)
Issuance of 21,45,145 convertible warrants at not less than Rs 36.50 each (min ~Rs 7.83 Cr)
Total potential fundraise of ~Rs 19.28 Cr compared to market cap of Rs 48 Cr and TTM revenue of Rs 18 Cr

💡 Track the completion of allotment, receipt of funds, and subsequent listing approval, alongside monitor how proceeds are deployed toward debt reduction or working capital.

Q1 PAT Turns Positive to Rs 2.20 Cr on Rs 8.22 Cr Revenue; Board Reconstituted with New Chairman

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 10:06 PM

Parmax Pharma reported Q1 FY27 revenue from operations of Rs 8.22 Cr (Rs 82,209.52 thousand), up 323% YoY from Rs 1.94 Cr in Q1 FY26 and representing ~68% of its entire FY26 revenue. Net profit turned positive to Rs 2.20 Cr (EPS Rs 5.88) compared to a loss of Rs 0.76 Cr in the year-ago quarter, heavily aided by a one-off insurance claim settlement of Rs 2.07 Cr. The company also reconstituted its board, appointing Mr. Dhiren Chandulal Shah as Chairman and Additional Director alongside other director appointments.

Revenue from operations surged 323% YoY to Rs 82,209.52 thousand (Rs 8.22 Cr) vs Rs 19,423.11 thousand in Q1 FY26.
Net profit swung to Rs 21,994.93 thousand (Rs 2.20 Cr) against a net loss of Rs 7,644.98 thousand in Q1 FY26.
Profit was significantly supported by a Rs 2.07 Crore insurance claim settlement recognised under other income.
Basic EPS stood at Rs 5.88 for the quarter compared to negative Rs 2.04 in Q1 FY26.
Appointed Mr. Dhiren Chandulal Shah as Additional Director & Chairman w.e.f. August 14, 2026.

💡 Track core operational margins in upcoming quarters after stripping out the Rs 2.07 Cr one-off insurance gain, and monitor shareholder voting on director appointments at the ensuing AGM.

Q1 Revenue Surges 323% YoY to Rs 8.22 Cr; Net Profit at Rs 2.20 Cr Aided by Insurance Claim

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 08:28 PM

Parmax Pharma reported a sharp top-line turnaround for Q1 ended June 30, 2026, with revenue from operations rising 323% YoY to Rs 8.22 Cr compared to Rs 1.94 Cr in Q1 FY26. Net profit stood at Rs 2.20 Cr against a net loss of Rs 0.76 Cr in the year-ago period, resulting in a quarterly EPS of Rs 5.88. Profitability was significantly boosted by a one-time insurance claim settlement of Rs 2.07 Cr accounted under other income. Concurrently, the company appointed Mr. Dhiren Chandulal Shah as Additional Director and Chairman.

Revenue from operations jumped 323% YoY to Rs 8.22 Cr (82,209.52 thousand) from Rs 1.94 Cr in Q1 FY26
Net profit turned positive to Rs 2.20 Cr (21,994.93 thousand) compared to a loss of Rs 0.76 Cr in Q1 FY26
Other income of Rs 2.08 Cr includes a one-off insurance settlement of Rs 2.07 Cr
Appointed Mr. Dhiren Chandulal Shah as Additional Director & Non-Executive Chairman effective August 14, 2026

💡 Monitor whether quarterly revenue run-rates stay above Rs 8 Cr in future quarters and assess core operational EBITDA excluding non-recurring insurance receipts.

Q1 Revenue Jumps to ₹8.22 Cr; Net Profit Turns to ₹2.20 Cr Aided by ₹2.07 Cr Insurance Claim

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 08:21 PM

Parmax Pharma reported standalone revenue from operations of ₹8.22 crore for the quarter ended June 30, 2026, compared to ₹1.94 crore in the year-ago quarter. Net profit swung to ₹2.20 crore against a net loss of ₹0.76 crore in Q1 FY26, substantially supported by ₹2.08 crore in other income (primarily a ₹2.07 crore insurance claim settlement). The company also announced major board restructuring, including the appointment of Mr. Dhiren Chandulal Shah as Chairman and Additional Director.

Revenue from operations grew to ₹82,209.52 thousand (₹8.22 crore) from ₹19,423.11 thousand (₹1.94 crore) in Q1 FY26
Net profit turned positive at ₹21,994.93 thousand (₹2.20 crore) compared to a loss of ₹7,644.98 thousand (₹0.76 crore) in Q1 FY26
Other income included an exceptional insurance claim settlement of ₹2.07 crore
Basic EPS for the quarter reached ₹5.88 vs -₹2.04 in the corresponding previous quarter
Appointed Mr. Dhiren Chandulal Shah as Non-Executive Chairman and reconstituted the board

💡 Track whether core pharmaceutical revenue run-rate sustains in subsequent quarters without the support of one-off insurance receipts, and observe resolution of the uncharged depreciation on the effluent treatment plant.

58.01% Stake: Sunil Shah & Others Acquire 11.52 Lakh Shares in Parmax Pharma

🟢 POSITIVE ⭐ 9/10

M&A 📅 14 Aug 2026, 01:07 PM

A group of acquirers led by Dhiren Chandulal Shah and Sunil Chinubhai Shah has completed the acquisition of 11,52,450 equity shares (approx. 30.8% stake) at Rs 35.00 per share. This off-market transaction, executed on August 13, 2026, follows a Share Purchase Agreement dated June 08, 2026. Post-acquisition, the total shareholding of the acquirer group has increased from 27.20% to 58.01%, marking a formal change in control. The acquisition price of Rs 35 is significantly lower than the current market price of Rs 113.2, reflecting the distressed financial state of the company.

Acquisition of 11,52,450 equity shares completed on August 13, 2026
Purchase price fixed at Rs 35.00 per share, totaling approximately Rs 4.03 Cr
Acquirer group's total stake increased from 27.20% to 58.01% of the company
Transaction executed via off-market mode from the Gopani family (Sellers)
Acquisition follows the Letter of Offer dated July 21, 2026, as per SEBI SAST regulations

💡 Monitor the new management's plan to address the company's negative net worth of Rs -6 Cr and operational losses. Investors should watch for any capital infusion or strategic shifts aimed at improving the -29.6% operating margins.

Parmax Pharma Board to meet on August 14, 2026, for Q1 FY27 results

🟡 NEUTRAL ⭐ 2/10

BOARD_MEETING 📅 11 Aug 2026, 02:55 PM

Parmax Pharma Ltd has scheduled a board meeting for August 14, 2026, to approve its unaudited standalone financial results for the quarter ended June 30, 2026. The company is currently in a precarious financial position with a negative net worth of Rs -6 Cr and a TTM loss of Rs -4 Cr. Despite a TTM revenue of only Rs 12 Cr and negative operating margins of -29.6%, the stock has experienced a significant 12-month price return of 173.7%. Investors will be looking for signs of operational recovery in the upcoming results.

Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results.
Trading window remains closed until 48 hours after the results are announced.
Company reported a TTM loss of Rs -4 Cr against a TTM revenue of Rs 12 Cr.
Net worth stands at Rs -6 Cr as of the latest available data.

💡 Monitor the financial results on August 14 to check for any improvement in operating margins and revenue growth, given the company's negative net worth and high debt levels.

26% Open Offer for Parmax Pharma: Pre-Offer Advertisement Published by Acquirers

🔵 WATCH ⭐ 9/10

M&A 📅 29 Jul 2026, 05:29 PM

Acquirers Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with 10 Persons Acting in Concert (PACs), have published the pre-offer advertisement for an open offer to acquire up to 23,46,250 shares of Parmax Pharma. This represents 26.00% of the expanded voting share capital. The company is currently in a precarious financial position with a negative net worth of ₹6 Cr and a TTM loss of ₹4 Cr. This open offer is a critical step in a potential change of control or significant stake consolidation.

Open offer to acquire up to 23,46,250 fully paid-up equity shares
Offer represents 26.00% of the expanded voting share capital of the company
Pre-offer advertisement published on July 29, 2026, across multiple national and regional newspapers
Acquisition led by two primary acquirers and 10 PACs including Dhairya Dhiren Shah and others
Company financials show a TTM revenue of only ₹12 Cr against a debt of ₹12 Cr

💡 Investors should monitor the specific offer price and the letter of offer for details on the acquirers' future plans for the company, given its negative net worth and -83% ROCE.

26% Open Offer: Independent Directors Issue Recommendations for Parmax Pharma

🟡 NEUTRAL ⭐ 9/10

M&A 📅 27 Jul 2026, 03:39 PM

The Committee of Independent Directors (IDC) of Parmax Pharma has published its recommendations regarding the open offer by Dhiren Chandulal Shah and Sunil Chinubhai Shah. The offer seeks to acquire up to 23,46,250 equity shares, representing 26% of the expanded voting share capital. This comes at a time when the company is financially distressed, reporting a negative net worth of Rs -6 Cr and TTM losses of Rs -4 Cr. The stock has seen a significant 231.7% price return over the last three months despite these weak fundamentals.

Open offer for 23,46,250 equity shares representing 26.00% of the expanded voting share capital
Acquisition initiated by Dhiren Chandulal Shah and Sunil Chinubhai Shah along with 10 PACs
IDC meeting held on July 25, 2026, to approve recommendations for public shareholders
Company currently operates with a negative net worth of Rs -6 Cr and TTM revenue of Rs 12 Cr
Stock price has surged 231.7% in the 3 months preceding this update

💡 Investors should read the full IDC recommendation in the July 27, 2026, editions of Financial Express or Jansatta to evaluate the fairness of the offer price before the tendering period.

₹42.80 Open Offer for 26% Stake in Parmax Pharma by New Acquirers

🔵 WATCH ⭐ 9/10

M&A 📅 22 Jul 2026, 01:41 PM

Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with 10 PACs, have issued a Letter of Offer to acquire a 26% stake in Parmax Pharma. The offer price is set at ₹42.80 per share, which represents a significant ~58% discount to the current market price of ₹102.9. This acquisition follows a proposed preferential issue and targets 23,46,250 shares of the expanded voting capital. The company is currently in financial distress with a negative net worth of ₹-6 Cr and a TTM loss of ₹4 Cr.

Open offer to acquire up to 23,46,250 equity shares representing 26.00% of expanded voting capital
Offer price fixed at ₹42.80 per share, significantly below the CMP of ₹102.9
Company financials show TTM revenue of ₹12 Cr against a debt of ₹12 Cr
Net worth stands at ₹-6 Cr with a negative ROCE of -83.0%
In-principle approval for the linked preferential issue was applied for on June 09, 2026

💡 Monitor the progress of the preferential issue and the official tendering dates; however, the offer price is unlikely to be attractive for retail investors given it is ~58% below current market levels.

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