Vineet Laboratories Limited (VINEETLAB)
₹39.01 +1.11% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Vineet Laboratories' revenue was ₹18.9 Cr (+34.2% year on year, +20.7% on the previous quarter), and net profit ₹0.7 Cr (against a loss a year earlier); the operating margin was 13.2%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹18.9 | +34.2% | +20.7% |
| Operating profit | ₹2.5 | from loss | +0.6% |
| Net profit | ₹0.7 | from loss | -14.7% |
| EPS (₹) | 0.43 | from loss | -2.3% |
| Operating margin | 13.2% | — | — |
VINEETLAB delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 84.58% of the VINEETLAB shares traded on NSE were taken to delivery, against the stock's own 20-session average of 66.18%. The price rose 1.11% on that unusually high delivery, the pattern the delivery dashboard labels accumulation. It traded 4.0 times its average daily volume. It closed at a price band (circuit) on 2 sessions in about the last 20. 5 bulk or block deals were reported in VINEETLAB in the last 60 days: ₹3 Cr bought and ₹3 Cr sold.
Delivery in the last 5 sessions: 67.0% · 74.2% · 58.6% · 62.1% · 84.6%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 16 Oct | Sell | Srivenkata Sita Rama Rao Tumula | ₹0.64 Cr | ₹39.00 | 165,000 | Bulk |
| 16 Oct | Sell | Arjun Aggarwal | ₹0.57 Cr | ₹39.36 | 144,000 | Bulk |
| 29 Sep | Buy | Mangal Keshav Capital Limited | ₹2.94 Cr | ₹36.77 | 800,000 | Bulk |
| 29 Sep | Sell | Iswarya Gajjala | ₹1.07 Cr | ₹36.73 | 291,000 | Bulk |
| 29 Sep | Sell | Mallukuntla Lakshmidevi | ₹0.66 Cr | ₹36.84 | 180,000 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Vineet Laboratories has issued a clarification regarding a clerical and typographical error in its Cash Flow Statement for the year ended March 31, 2026. An amount of Rs 21.29 Lakhs was erroneously reflected under 'Income-taxes paid' under operating activities. The company confirmed that rectifying this oversight has no impact on net profit, operating profit before working capital changes, or the balance sheet. The restated cash flow statement and full audited results were refiled with the exchanges.
- Clerical error of Rs 21.29 Lakhs reported under Income-taxes paid in operating cash flows
- Zero impact confirmed on net profit, balance sheet, or operating profit before working capital changes
- Net cash generated from operating activities stood at negative Rs 1,224.48 Lakhs for FY26
- Cash and cash equivalents stood at Rs 1,669.52 Lakhs as of March 31, 2026
- Outstanding long-term borrowings ended at Rs 35.29 Crores as of March 31, 2026
Vineet Laboratories Limited announced the resignation of its statutory auditor, M/s. NSVR & Associates LLP, effective from the close of business hours on September 29, 2026. The auditor had completed the audit for FY2026 (issuing their report on August 25, 2026) out of an original 5-year tenure scheduled through the 11th AGM. The stated reasons for resignation are preoccupation with other assignments, time constraints, and cost considerations to the audit firm, with no reported disputes or information withholding.
- Resignation effective from the closing of business hours on September 29, 2026
- Auditor appointed on September 28, 2022, for a 5-year term ending at the 11th AGM
- Latest audit report for the year ending March 31, 2026, submitted on August 25, 2026
- Reasons cited include preoccupation with other assignments, constraints of time, and cost considerations
Vineet Laboratories Limited has obtained an extension of two months from the Registrar of Companies (ROC), Hyderabad, to convene its 10th Annual General Meeting (AGM) for the financial year ended March 31, 2026. The statutory due date for the meeting was September 30, 2026, and the extension allows the company to hold it by November 30, 2026. The approval letter was dated September 17, 2026, following the company's application on September 4, 2026. ROC Hyderabad has advised the company to be careful in the future regarding compliance under the Companies Act, 2013.
- Extension granted: 2 months under Section 96(1) of the Companies Act, 2013
- Revised AGM deadline: Up to November 30, 2026 (original due date was September 30, 2026)
- Application date: September 4, 2026 (SRN AC5831961), with ROC approval order dated September 17, 2026
Vineet Laboratories Limited submitted a clarification regarding a typographical error in Note (a) of its Audited Standalone Financial Results for the quarter and year ended March 31, 2026. The date of approval by the Audit Committee and Board was incorrectly stated as May 30, 2026, instead of August 25, 2026. The company re-submitted the complete financial statements, including balance sheet and cash flows, showing FY26 year-end cash and cash equivalents of ₹1,669.52 Lakhs and total equity of ₹4,560.19 Lakhs.
- Corrected the Board approval date for FY26 results to August 25, 2026 (erroneously cited as May 30, 2026)
- Statutory auditors issued an unmodified audit opinion on the FY26 standalone financial statements
- Proceeds from share issuance during FY26 stood at ₹2,908.18 Lakhs, lifting year-end cash balances to ₹1,669.52 Lakhs
- Outstanding long-term borrowings reduced from ₹39.09 Cr to ₹35.29 Cr during FY26
Vineet Laboratories reported its audited standalone financial results for FY26, turning around with a Profit Before Tax (PBT) of ₹1.28 Cr compared to a loss of ₹20.78 Cr in FY25. The company completed a share issuance during the year, raising ₹29.08 Cr in net proceeds and expanding total equity to ₹45.60 Cr from ₹14.65 Cr. However, operating cash flow turned negative at -₹12.03 Cr (vs +₹11.49 Cr in FY25), driven primarily by working capital tie-up with inventory rising to ₹64.09 Cr. Cash and cash equivalents closed at ₹16.70 Cr at the end of FY26.
- FY26 PBT turned positive to ₹1.28 Cr (₹128.27 Lakhs) from a loss of ₹20.78 Cr (₹2,077.55 Lakhs) in FY25
- Proceeds from share issuance contributed ₹29.08 Cr (₹2,908.18 Lakhs), lifting total equity to ₹45.60 Cr
- Cash and cash equivalents increased sharply to ₹16.70 Cr (₹1,669.52 Lakhs) vs ₹0.31 Cr in FY25
- Operating cash flow turned negative to -₹12.03 Cr (-₹1,203.19 Lakhs) due to inventory accumulation to ₹64.09 Cr
- Statutory auditor NSVR & Associates LLP issued an unmodified audit opinion
Vineet Laboratories approved its audited standalone financial results for FY26, reporting a turnaround in Profit Before Tax to ₹1.28 Cr compared to a loss of ₹20.78 Cr in FY25. The company's net worth expanded significantly to ₹45.60 Cr (up from ₹14.65 Cr), bolstered by ₹29.08 Cr raised via fresh equity issuance. However, cash flow from operations turned negative at -₹12.03 Cr (compared to +₹11.49 Cr in FY25) due to working capital tie-up as inventories increased to ₹64.09 Cr. Cash and bank balances stood higher at ₹16.70 Cr at the end of the year.
- Profit Before Tax turned positive at ₹1.28 Cr in FY26 compared to a loss of ₹20.78 Cr in FY25
- Raised ₹29.08 Cr via issuance of shares, expanding total equity to ₹45.60 Cr from ₹14.65 Cr
- Cash and cash equivalents increased to ₹16.70 Cr as of March 31, 2026, up from ₹0.31 Cr
- Operating cash flow deteriorated to -₹12.03 Cr driven by inventory expansion to ₹64.09 Cr
- Statutory auditor NSVR & Associates LLP issued an unmodified audit opinion
Vineet Laboratories has filed a certificate of non-applicability for quarterly corporate governance reporting for the period ended June 30, 2026. Under SEBI Regulation 15(2), companies with paid-up capital below ‑10 crore and net worth below ‑25 crore are exempt from these disclosures. As of March 31, 2025, the company's paid-up capital was ‑9.22 crore and net worth was ‑3.30 crore. This filing is a routine administrative matter for small-cap entities falling below the regulatory thresholds.
- Paid-up equity share capital remained at ‑9,21,90,080 as of March 31, 2025.
- Net worth as of March 31, 2025, was ‑3,29,52,887, significantly below the ‑25 crore SEBI threshold.
- Net worth saw a sharp decline from ‑23.49 crore in FY24 to ‑3.30 crore in FY25.
- Exemption is based on FY25 figures as FY26 financial statements have not yet been finalized.
- Company is exempt from filing the Quarterly Compliance report under Regulation 27(2) of SEBI LODR.
Vineet Laboratories Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent (RTA), Venture Capital and Corporate Investments Private Limited, confirmed that no securities were received for dematerialization or rematerialization during the quarter ended June 30, 2026. This is a standard procedural filing required by all listed companies in India to verify shareholding records with depositories.
- Reporting period ended on June 30, 2026
- Total securities received for dematerialization: 0
- Total securities received for rematerialization: 0
- Compliance certificate issued by RTA on July 17, 2026
- Filing submitted to exchanges on July 30, 2026
Mr. Gaddam Venkata Ramana has ceased to be the Managing Director of Vineet Laboratories effective July 21, 2026. While he steps down from the executive role, he will continue to serve as a Non-Executive Director on the board. This leadership transition occurs at a critical time for the company, which is currently grappling with a TTM net loss of ‑Rs 10 Cr and a high Debt-to-Equity ratio of 3.07. Furthermore, promoter holding has seen a sharp decline from 15.89% in September 2025 to 5.98% by March 2026.
- Mr. Gaddam Venkata Ramana ceased to be Managing Director effective July 21, 2026
- The outgoing MD holds 4,71,000 equity shares in the company as of the transition date
- Promoter holding has significantly decreased to 5.98% as of March 2026 from 15.89% in September 2025
- Company reported a TTM net loss of ‑Rs 10 Cr on a revenue base of Rs 55 Cr
- Debt remains high at Rs 43 Cr against a net worth of only Rs 14 Cr
Vineet Laboratories has appointed Mr. Rajesh Kumar Kathulla as an Additional Director in the Executive category for a five-year term, effective June 11, 2026. Mr. Kathulla, an entrepreneur with experience in renewable energy and organic agriculture, holds 50,254 equity shares in the company. This leadership addition comes as the company navigates significant financial stress, including a TTM net loss of Rs 10 Cr and a high Debt-to-Equity ratio of 3.07. Investors should note the low promoter holding of 6.0%, which makes management stability and professional leadership critical.
- Appointment of Mr. Rajesh Kumar Kathulla as Executive Director for a 5-year term starting June 11, 2026
- The new director holds 50,254 equity shares in the company as of the appointment date
- Company is currently operating with a negative OPM of -9.3% and TTM revenue of Rs 55 Cr
- Promoter holding remains low at 6.0% as of March 2026
- The appointment is subject to the approval of the company's shareholders
Vineet Laboratories has deferred its board meeting originally scheduled for July 15, 2026, which was intended to approve the audited financial results for the fiscal year ending March 31, 2026. The company cited 'unavoidable circumstances' for the delay and has not yet provided a revised date. This postponement is notable given the company's financial position, including a TTM loss of ₹10 Cr and a high debt-to-equity ratio of 3.07. Furthermore, promoter holding has seen a sharp decline to 5.98% as of March 2026.
- Board meeting scheduled for July 15, 2026, to approve FY26 audited results has been deferred.
- Company reported a TTM loss of ₹10 Cr against a TTM revenue of ₹55 Cr.
- Promoter holding has significantly decreased to 5.98% as of March 2026 from 15.89% in September 2025.
- The company carries a substantial debt of ₹43 Cr against a net worth of only ₹14 Cr.
Vineet Laboratories has scheduled a board meeting for July 15, 2026, to approve audited financial results for the quarter and full year ended March 31, 2026. The company is currently facing financial headwinds, reporting a TTM net loss of ₹10 Cr and a high debt-to-equity ratio of 3.07. Investors should note the sharp decline in promoter holding, which fell from 15.89% in September 2025 to 5.98% by March 2026. The trading window for designated persons remains closed until 48 hours after the results are declared.
- Board meeting scheduled for July 15, 2026, to approve FY26 audited results
- Company reported a TTM net loss of ₹10 Cr on revenue of ₹55 Cr
- Promoter holding has significantly decreased to 5.98% as of March 2026
- Debt-to-equity ratio stands at a high 3.07 with total debt of ₹43 Cr
- Trading window remains closed for all designated persons until 48 hours post-announcement
Vineet Laboratories has postponed the consideration and approval of its audited standalone financial results for the quarter and year ended March 31, 2026. The deferment occurred because the Audit Committee did not recommend the results to the Board during the meeting held on May 30, 2026. Furthermore, the company announced the resignation of its Company Secretary and Compliance Officer. The trading window for dealing in the company's equity shares will remain closed until 48 hours after the results are eventually declared.
- Audited financial results for the fiscal year ended March 31, 2026, have been officially deferred.
- The Board meeting held on May 30, 2026, failed to approve results as the Audit Committee did not recommend them.
- Resignation of the Company Secretary and Compliance Officer was formally communicated to the Board.
- Trading window remains closed for all designated persons until 48 hours post-result declaration.
- A revised date for the Audit Committee and Board Meeting will be intimated in due course.
Vineet Laboratories Limited has announced the resignation of Mr. Ramesh Kumar Bandari from the position of Company Secretary and Compliance Officer. The resignation, effective May 29, 2026, is attributed to personal reasons and pre-occupation. As a result, Mr. Bandari will also cease to be a Key Managerial Personnel (KMP) under Section 203 of the Companies Act, 2013. The company will need to appoint a successor to maintain its regulatory compliance framework.
- Mr. Ramesh Kumar Bandari (A24519) resigned as Company Secretary and Compliance Officer effective May 29, 2026.
- The resignation is cited as being due to personal reasons and pre-occupation.
- The individual will simultaneously cease to be a Key Managerial Personnel (KMP) of the company.
- The disclosure was made in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015.
- The company has informed both BSE (543298) and NSE (VINEETLAB) regarding the transition.
Vineet Laboratories Limited has submitted a certificate of non-applicability for Corporate Governance reporting for the quarter ended March 31, 2026. Under SEBI Regulation 15(2), companies with paid-up capital under ₹10 crore and net worth under ₹25 crore are exempt from these specific filings. As of March 31, 2025, the company reported a paid-up capital of ₹9.22 crore and a net worth of ₹3.30 crore. This disclosure confirms the company's status as a smaller listed entity with reduced regulatory reporting requirements.
- Paid-up equity share capital stood at ₹9,21,90,080 as of March 31, 2025
- Company net worth was reported at ₹3,29,52,887 as of March 31, 2025
- Exemption claimed under Regulation 15(2) of SEBI (LODR) Regulations, 2015
- Thresholds for exemption are paid-up capital below ₹10 Cr and net worth below ₹25 Cr
Financial Performance
Revenue Growth by Segment
Total revenue from operations fell 50.2% YoY from INR 150.59 Cr in FY24 to INR 74.99 Cr in FY25. Segment-specific growth percentages were not disclosed, but the company primarily operates in API intermediates.
Geographic Revenue Split
100% Domestic revenue in FY25 as foreign exchange earnings were reported as Nil, compared to a previous year where exports were a focus for the broader industry.
Profitability Margins
Net Profit Margin plummeted from 0.68% in FY24 to -26.92% in FY25. Operating Profit Margin also turned negative, dropping from 0.68% to -0.25% YoY.
EBITDA Margin
Operating Profit Margin was -0.25% in FY25, down from 0.68% in FY24, reflecting a core profitability collapse due to the 50.2% drop in revenue.
Capital Expenditure
Not explicitly disclosed in INR Cr, but the company is pursuing a Rights Issue to address financial modalities and capital requirements.
Credit Rating & Borrowing
Not disclosed, but the Interest Coverage Ratio worsened significantly from 1.28 to -4.72, indicating the company cannot meet interest obligations from current earnings.
Operational Drivers
Raw Materials
Intermediate raw materials including 2-Amino-5-(S)-N,N-Dibenzyl Amino-3-Oxo-1,6-Diphenylhex-2-Ene (DAH-II) and 5-Hydroxy Methyl Thiazole.
Import Sources
China (industry-wide 80% dependency for API needs mentioned as a critical factor).
Key Suppliers
Vineet Life Sciences Private Limited (Related Party) provides intermediate raw material supplies.
Capacity Expansion
Current installed capacity not disclosed in MT; however, the company is seeking to raise capital via a Rights Issue to support operations.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but related party transactions for sale and purchase of goods are ongoing at arm's length.
Manufacturing Efficiency
Inventory turnover ratio declined by 40.7% from 2.38 to 1.41, indicating reduced manufacturing and sales efficiency.
Strategic Growth
Expected Growth Rate
5.30%
Growth Strategy
The company plans to achieve growth by leveraging the global 5.3% CAGR in pharmaceutical intermediates, focusing on high-demand anti-HIV drug intermediates like DAH-II and 5-Hydroxy Methyl Thiazole, and improving its capital structure through a proposed Rights Issue.
Products & Services
API intermediates including DAH-II (for Lopinavir API) and 5-Hydroxy Methyl Thiazole (for Ritonavir API).
Market Expansion
Not disclosed, though industry-wide expansion into new geographies like Montenegro and South Sudan is noted.
Market Share & Ranking
Not disclosed; Indian pharma industry ranks 3rd globally by volume and 13th by value.
Strategic Alliances
MoU between Indian Pharmacopoeia Commission and Suriname for recognition of Indian standards; company-specific alliances not disclosed.
External Factors
Industry Trends
Global intermediates market growing at 5.3% CAGR; shift from batch to continuous manufacturing to improve quality; government support via PRIP (INR 5,000 Cr) and PLI (INR 15,000 Cr) schemes.
Competitive Landscape
Intense competition from Chinese manufacturers and other domestic MSMEs in the bulk drug and intermediate segments.
Competitive Moat
Cost-efficient production and high-quality generic drugs; India has the highest number of USFDA-approved plants outside the US, providing a structural advantage.
Macro Economic Sensitivity
Highly sensitive to global chronic disease prevalence, which is expected to increase by 57% by 2020 (as per WHO data cited).
Consumer Behavior
Aging global population and rising chronic disease prevalence are driving long-term demand for pharmaceutical intermediates.
Geopolitical Risks
Trade barriers or policy changes in China could disrupt 80% of the API supply chain.
Regulatory & Governance
Industry Regulations
Strict compliance with GMP, WHO standards, and USFDA requirements for manufacturing plants.
Environmental Compliance
Compliance with Good Manufacturing Practices (GMP) is mandatory; no specific ESG costs disclosed for FY25.
Taxation Policy Impact
Not disclosed; company reported a tax benefit/adjustment resulting in PAT of INR -20.19 Cr vs PBT of INR -20.77 Cr.
Risk Analysis
Key Uncertainties
Financial insolvency risk due to negative interest coverage (-4.72); 80% dependency on China for raw materials; liquidity risk with a current ratio of 0.91.
Geographic Concentration Risk
100% revenue concentration in the domestic market for FY25 based on Nil export earnings.
Third Party Dependencies
Significant dependency on Vineet Life Sciences Private Limited for intermediate raw material supplies.
Technology Obsolescence Risk
Risk of falling behind if not transitioning from traditional batch manufacturing to continuous manufacturing processes.
Credit & Counterparty Risk
Receivables quality is declining as Debtors Turnover Ratio slowed from 4.51 to 3.34 YoY.
