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Aspira Pathlab & Diagnostics Ltd (540788)

📊 BSE: 540788 🏢 Healthcare Service Provider 📢 Latest filing: 01 Oct 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Aspira Pathlab's revenue was ₹6.2 Cr (+17.5% year on year, -5.4% on the previous quarter), and net profit ₹-0.0 Cr (against a profit a year earlier); the operating margin was 5.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹6.2	+17.5%	-5.4%
Operating profit	₹0.3	-58.0%	from loss
Net profit	₹-0.0	to loss	loss narrowed
EPS (₹)	-0.04	to loss	loss narrowed
Operating margin	5.5%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Promoter Group Member Jay Arvind Bhanushali Acquires 245 Shares in Aspira Pathlab

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Oct 2026, 10:26 AM

Jay Arvind Bhanushali, belonging to the promoter/promoter group of Aspira Pathlab & Diagnostics Ltd, disclosed an open-market acquisition of 245 equity shares on September 28, 2026. Following the transaction, his holding rose marginally from 7,49,262 shares (7.28%) to 7,49,507 shares (7.28%). Given the company's total equity base of 1,02,93,000 shares, the acquisition size is immaterial (approx. Rs 25,500 at the current market price of Rs 104.3).

Acquired 245 equity shares via open market on 28-09-2026
Shareholding prior to acquisition was 7,49,262 shares (7.28%)
Post-transaction holding stands at 7,49,507 shares (7.28%)
Total voting capital of the company remains unchanged at 1,02,93,000 shares (Rs 10,29,30,000)

💡 Track quarterly shareholding filings to see broader promoter accumulation trends, but no portfolio action is necessitated by this micro-transaction.

Promoter Group Member Jay Arvind Bhanushali Acquires 1,424 Shares (0.01%) of Aspira Pathlab

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 28 Sep 2026, 10:26 AM

Jay Arvind Bhanushali, belonging to the promoter group of Aspira Pathlab & Diagnostics Ltd, disclosed the acquisition of 1,424 equity shares via the open market between September 17, 2026, and September 24, 2026. This acquisition represents approximately 0.01% of the total share capital. Following the transaction, his holding marginally increased from 7,47,838 shares (7.27%) to 7,49,262 shares (7.28%). At the current stock price of Rs 104.3, the acquired shares are valued at roughly Rs 1.48 lakh, indicating minimal financial materiality.

Acquired 1,424 equity shares (0.013% rounded to 0.01%) via open market
Holding increased from 7,47,838 shares (7.27%) to 7,49,262 shares (7.28%)
Acquisition conducted between 17-09-2026 and 24-09-2026
Total equity share capital remains unchanged at Rs 10,29,30,000 (1,02,93,000 shares of Rs 10 each)

💡 Track quarterly shareholding filings to monitor broader insider accumulation or distribution trends.

Aspira Pathlab Issues FY26 Annual Report; 53rd AGM on Sept 25, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Aug 2026, 06:44 PM

Aspira Pathlab & Diagnostics Limited has released its Annual Report for FY 2025-26 and convened its 53rd AGM on September 25, 2026. Key special resolutions include the re-designation of Mr. Nikunj Velji Mange as Managing Director for a 5-year tenure effective August 12, 2026, and approval for material related party transactions with Yashraj Research Foundation up to Rs. 5 Crores. The accompanying ratio disclosures reflect a steep drop in FY26 operating performance, with Return on Equity falling to 0.42% (from 18.54% in FY25) and Net Profit margin dropping to 0.21% (from 9.42% in FY25).

53rd Annual General Meeting scheduled for September 25, 2026 via Video Conferencing.
Proposed approval for material related party transactions with Yashraj Research Foundation up to Rs. 5 Crores.
Re-designation of Executive Director Mr. Nikunj Velji Mange as Managing Director for 5 years from August 12, 2026.
FY26 Return on Equity declined to 0.42% vs 18.54% in FY25, and ROCE fell to 3.24% vs 18.03% in FY25.

💡 Monitor the AGM voting results on September 25, 2026, specifically regarding the approval of the related party transaction and MD reappointment.

Aspira Pathlab Convenes 53rd AGM; Proposes ₹5 Cr Related Party Deal & New MD Appointment

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 31 Aug 2026, 06:12 PM

Aspira Pathlab & Diagnostics has issued the notice for its 53rd Annual General Meeting (AGM) scheduled for September 25, 2026. Key agenda items include the approval of material related-party transactions with Yashraj Research Foundation for an aggregate value up to ₹5 Crore (representing ~21.7% of TTM revenue of ₹23 Crore). Additionally, the company seeks shareholder approval to re-designate Executive Director Mr. Nikunj Velji Mange as Managing Director for a 5-year term effective August 12, 2026.

53rd Annual General Meeting scheduled for Friday, September 25, 2026, via Video Conferencing.
Seeking shareholder approval for material related party transactions with Yashraj Research Foundation up to ₹5 Crore.
Proposed appointment of Mr. Nikunj Velji Mange as Managing Director for 5 years with effect from August 12, 2026.
Cut-off date for e-voting set as September 18, 2026, with remote e-voting running from September 22 to September 24, 2026.

💡 Track voting outcomes of the AGM resolutions on September 25, 2026, particularly for the related party contract limits and management transition.

Aspira Pathlab & Diagnostics Sets 53rd AGM on Sep 25, 2026; Book Closure from Sep 19 to 25

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Aug 2026, 06:03 PM

Aspira Pathlab & Diagnostics Limited announced that its 53rd Annual General Meeting (AGM) will be held on September 25, 2026, at 2:00 PM IST via video conferencing. The company has scheduled its book closure from September 19, 2026, to September 25, 2026 (both days inclusive) for AGM purposes. The cut-off date to determine shareholder voting eligibility is September 18, 2026, with the remote e-voting window open from September 22, 2026 (9:00 AM IST) to September 24, 2026 (5:00 PM IST).

53rd Annual General Meeting scheduled for September 25, 2026, at 2:00 PM IST via VC/OAVM
Book closure period fixed from September 19, 2026, to September 25, 2026 (both days inclusive)
Remote e-voting window runs from 9:00 AM IST on September 22, 2026, to 5:00 PM IST on September 24, 2026
Shareholder eligibility cut-off date set as September 18, 2026

💡 Eligible shareholders as of the September 18, 2026 cut-off date can participate in e-voting from September 22 to 24, 2026, and attend the AGM on September 25, 2026.

Aspira Pathlab Appoints Vaibhav Odhekar as Executive Director; Nikunj Mange Named MD

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 12 Aug 2026, 04:51 PM

Aspira Pathlab & Diagnostics has restructured its leadership, appointing Vaibhav Odhekar (co-founder of POKKT) as Additional Executive Director and re-designating Nikunj Mange as Managing Director. The board also deferred a previously proposed fund-raising agenda, deciding not to proceed at this time. These changes come as the company manages a small TTM revenue base of ₹25 Cr and thin operating margins of 5.8%. The new leadership brings significant technology and scaling experience, which is critical given the low promoter holding of 18.4%.

Appointment of Mr. Vaibhav Odhekar, an IIM Lucknow alumnus with 20+ years of experience, as Additional Executive Director.
Re-designation of Mr. Nikunj Velji Mange as Managing Director for a term of 5 years and 9 months.
Board decided not to take up the fund-raising proposal in the current meeting after due deliberation.
Appointment of M/s. Harsh Kholiya & Co as Internal Auditor for Q2, Q3, and Q4 of FY 2026-27.
Company reported a net loss of ₹0.69 Cr in the most recent quarter (Mar 2026) on revenue of ₹6.52 Cr.

💡 Monitor if the new leadership can improve operational efficiencies and reverse the recent trend of quarterly losses. Investors should also watch for any future revival of the deferred fund-raising plans.

Aspira Pathlab Appoints New MD and Executive Director; Defers Fundraise Proposal

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 12 Aug 2026, 04:40 PM

Aspira Pathlab & Diagnostics announced significant leadership changes alongside its Q1 FY27 results. Nikunj Velji Mange has been re-designated as Managing Director for a 5-year term, and Vaibhav Odhekar (co-founder of POKKT) has been appointed as Additional Executive Director. Notably, the board decided to defer a previously proposed fund-raising agenda. The company also reported zero financial indebtedness as of June 30, 2026, a notable improvement for a micro-cap with a Rs 105 Cr market valuation.

Appointment of Vaibhav Odhekar, a seasoned tech entrepreneur with 20+ years of experience, as Additional Executive Director.
Re-designation of Nikunj Velji Mange as Managing Director for a 5-year term effective August 12, 2026.
Board of Directors decided not to proceed with the fund-raising proposal at the current meeting.
Reported total financial indebtedness of Rs 0 as of June 30, 2026.
Appointment of M/s. Harsh Kholiya & Co as Internal Auditor for the remainder of FY 2026-27.

💡 Monitor the impact of the new leadership, particularly the tech-focused Executive Director, on operational scaling and the company's low operating margins (5.8%). Watch for future updates regarding the deferred fund-raising plans.

Aspira Pathlab Appoints New MD and Executive Director; Defers Fundraising Proposal

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 12 Aug 2026, 04:30 PM

Aspira Pathlab & Diagnostics Ltd announced a leadership reshuffle, re-designating Nikunj Velji Mange as Managing Director and appointing Vaibhav Odhekar (Co-founder of POKKT) as Additional Executive Director. Notably, the Board decided not to proceed with a previously proposed fundraising agenda at this meeting. The company reported zero financial indebtedness as of June 30, 2026, maintaining a clean balance sheet. These changes occur against a backdrop of low promoter holding (18.4%) and a small TTM revenue base of Rs 25 Cr.

Nikunj Velji Mange re-designated as Managing Director effective August 12, 2026, for a 5-year term.
Vaibhav Odhekar appointed as Additional Executive Director, bringing 20+ years of experience in tech-led platforms.
Total financial indebtedness reported as Rs 0 as of June 30, 2026.
Board decided not to take up the proposal for fund raising at the present meeting.
M/s. Harsh Kholiya & Co appointed as Internal Auditor for the remainder of FY 2026-27.

💡 Watch for the new leadership's strategy to scale the business, given the company's current small revenue base and the decision to defer fundraising. Monitor upcoming shareholder approval for these appointments at the Annual General Meeting.

Aug 12 Board Meeting: Aspira Pathlab to consider Q1 results and fundraise

🔵 WATCH ⭐ 7/10

BOARD_MEETING 📅 06 Aug 2026, 03:30 PM

Aspira Pathlab & Diagnostics has scheduled a board meeting on August 12, 2026, to approve its Q1 FY27 financial results and evaluate a potential fundraise. The fundraise could involve equity shares, warrants, or rights issues, which is significant given the company's small market cap of Rs 114 Cr. This follows a volatile financial year where the company reported a net loss of Rs 0.69 Cr in the March 2026 quarter. Investors should note the low promoter holding of 18.39%, which makes the terms of any equity dilution particularly relevant.

Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results.
Proposal to raise funds via equity, warrants, or rights issue to be considered.
Promoter holding is currently low at 18.39% as of March 2026.
Company reported a TTM revenue of Rs 25 Cr with a thin operating margin of 5.8%.
Recent quarterly performance showed a net loss of Rs 0.69 Cr in March 2026.

💡 Monitor the August 12 board outcome for the specific fundraise amount and pricing, as well as the Q1 margin performance to see if the company can reverse recent losses.

As p i r a P a t h l a b I n t e r n a l A u d i t o r R e s i g n s E f f e c t i v e A u g u s t 1 3 , 2 0 2 6

🟡 N E U T R A L ⭐ 3/10

M A N A G E M E N T 📅 03 Aug 2026, 05:06 PM

As p i r a P a t h l a b & D i a g n o s t i c s L t d h a s a n n o u n c e d t h e r e s i g n a t i o n o f i t s I n t e r n a l A u d i t o r , M / s V i s h a l J B h a n u s h a l i a n d A s s o c i a t e s , e f f e c t i v e A u g u s t 1 3 , 2 0 2 6 . T h e r e s i g n a t i o n i s a t t r i b u t e d t o p r e o c c u p a t i o n a n d p e r s o n a l r e a s o n s . T h i s c o m e s a t a t i m e w h e n t h e c o m p a n y r e p o r t s a v e r y l o w T T M P A T o f R s 0 . 0 5 c r o r e a n d m a i n t a i n s a l o w p r o m o t e r h o l d i n g o f 1 8 . 4 % . I n v e s t o r s s h o u l d n o t e t h a t t h e c o m p a n y i s c u r r e n t l y t r a d i n g a t a n e x t r e m e l y h i g h P / E o f 1 9 6 9 . 2 .

Int e r n a l A u d i t o r M / s V i s h a l J B h a n u s h a l i a n d A s s o c i a t e s t o c e a s e r o l e o n A u g u s t 1 3 , 2 0 2 6
R e s i g n a t i o n c i t e s p r e o c c u p a t i o n a n d p e r s o n a l r e a s o n s w i t h n o o t h e r m a t e r i a l r e a s o n s p r o v i d e d
C o m p a n y T T M r e v e n u e s t a n d s a t R s 2 5 c r o r e w i t h a m a r g i n a l n e t p r o f i t o f R s 0 . 0 5 c r o r e
P r o m o t e r h o l d i n g r e m a i n s r e l a t i v e l y l o w a t 1 8 . 3 9 % a s o f M a r c h 2 0 2 6

💡 M o n i t o r t h e a p p o i n t m e n t o f a n e w i n t e r n a l a u d i t o r t o e n s u r e c o n t i n u i t y i n g o v e r n a n c e a n d i n t e r n a l c o n t r o l s y s t e m s .

Resignation of MD & CEO Pankaj Jashwant Shah Effective August 03, 2026

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 03 Aug 2026, 04:58 PM

Mr. Pankaj Jashwant Shah has resigned from his dual role as Managing Director and Chief Executive Officer of Aspira Pathlab & Diagnostics Ltd, effective immediately on August 03, 2026. The resignation is attributed to personal reasons. This leadership exit occurs as the company faces financial pressure, having reported a net loss of 0.69 cr in the March 2026 quarter. With a small TTM revenue base of 25 cr and low promoter holding of 18.39%, the transition to new leadership will be critical for operational stability.

Resignation of Mr. Pankaj Jashwant Shah as MD and CEO effective August 03, 2026
Company reported a net loss of 0.69 cr in the most recent quarter ending March 2026
Promoter holding is relatively low at 18.39% as of the March 2026 filing
TTM revenue stands at 25 cr with a marginal FY26 net profit of 0.05 cr
Operating Profit Margin (OPM) remains thin at 5.8% for the trailing twelve months

💡 Investors should monitor the board's announcement regarding a successor and the transition timeline. It is essential to watch if this leadership change impacts the company's efforts to return to quarterly profitability following two consecutive loss-making quarters.

MD & CEO Pankaj Jashwant Shah Resigns with Immediate Effect

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 03 Aug 2026, 04:55 PM

Mr. Pankaj Jashwant Shah has resigned from his dual role as Managing Director and CEO of Aspira Pathlab & Diagnostics Ltd effective August 03, 2026, citing personal reasons. This leadership exit occurs while the company faces financial pressure, having reported a net loss of Rs 0.69 Cr in the March 2026 quarter. For the full year FY26, the company reported a marginal net profit of just Rs 0.05 Cr on a revenue base of Rs 24.98 Cr. The company also maintains a relatively low promoter holding of 18.39%.

Resignation of MD & CEO effective immediately on August 03, 2026
Company reported a marginal FY26 net profit of Rs 0.05 Cr
Promoter holding remains low at 18.39% as of March 2026
March 2026 quarter resulted in a net loss of Rs 0.69 Cr on revenue of Rs 6.52 Cr

💡 Monitor the board's announcement regarding a successor and observe if the leadership change impacts the company's efforts to improve its low operating margin of 5.8%.

Resignation of MD & CEO Pankaj Jashwant Shah Effective August 03, 2026

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 03 Aug 2026, 04:46 PM

Mr. Pankaj Jashwant Shah has resigned from his dual roles as Managing Director and Chief Executive Officer of Aspira Pathlab & Diagnostics Ltd, effective immediately on August 03, 2026. The resignation is cited as being for personal reasons. This leadership exit occurs while the company faces financial pressure, having reported a net loss of ₹0.69 crore in the March 2026 quarter and maintaining a low promoter holding of 18.39%. With a market cap of ₹118 crore and a TTM revenue of ₹25 crore, the departure of the top executive is a significant event for this small-cap diagnostic player.

Mr. Pankaj Jashwant Shah resigned as MD and CEO effective August 03, 2026.
The company reported a net loss of ₹0.69 crore in the most recent quarter ending March 2026.
Promoter holding is relatively low at 18.39% as of the March 2026 filing.
TTM revenue stands at ₹25 crore with a thin operating profit margin of 5.84% for FY26.
The stock is currently trading at a high P/E of 1969.2 relative to its minimal TTM PAT of ₹0.05 crore.

💡 Investors should monitor the board's announcement regarding a successor and watch for any strategic shifts in the upcoming quarterly results to see if the leadership change impacts the path to profitability.

Resignation of Additional Executive Director Vaibhav Odhekar Effective July 25, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 25 Jul 2026, 03:10 PM

Mr. Vaibhav Odhekar has resigned from his position as Additional Executive Director at Aspira Pathlab & Diagnostics Ltd, effective July 25, 2026, citing personal reasons. The company, which has a small market capitalization of ₹106 Cr, reported a net loss of ₹0.69 Cr in the March 2026 quarter. With a relatively low promoter holding of 18.39%, management stability remains a key area for monitoring in this micro-cap entity.

Resignation of Mr. Vaibhav Odhekar effective from close of business hours on July 25, 2026
Company reported a TTM revenue of ₹25 Cr with a marginal TTM EPS of ₹0.06
Promoter holding has remained stagnant at 18.39% as of the March 2026 quarter
The company recorded an operating loss of ₹0.33 Cr in the most recent quarter (March 2026)

💡 Investors should monitor the board's composition for a replacement and watch for any shifts in the low promoter holding (18.39%) which could indicate changing control or commitment.

Resignation of Additional Executive Director Vaibhav Odhekar Effective July 25, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 25 Jul 2026, 03:02 PM

Aspira Pathlab & Diagnostics has announced the resignation of Mr. Vaibhav Odhekar from his position as Additional Executive Director, effective July 25, 2026. The resignation is attributed to personal reasons. This management change comes as the company, with a market capitalization of ₹106 Cr, reported a net loss of ₹0.69 Cr in the March 2026 quarter. The promoter holding remains relatively low at 18.39%.

Resignation of Mr. Vaibhav Odhekar effective from the close of business hours on July 25, 2026.
Company reported a quarterly net loss of ₹0.69 Cr in March 2026 compared to a profit of ₹1.84 Cr in September 2025.
Promoter holding has remained unchanged at 18.39% as of the March 2026 quarter.
The company operates with a TTM revenue of ₹25 Cr and a high P/E ratio of 1759.2.

💡 Investors should monitor for the appointment of a replacement director and track if the company can reverse its recent trend of quarterly losses in the upcoming financial results.

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