Par Drugs and Chemicals Approves Key Remuneration Increases and Confirms Audit Appointments

Par Drugs and Chemicals Approves Key Remuneration Increases and Confirms Audit Appointments​

Par Drugs and Chemicals Limited (PAR) has concluded its Board of Directors meeting, which covered major decisions regarding the company's future, including the appointment and remuneration of key personnel, the appointment of statutory and internal auditors, and the scheduling of the forthcoming Annual General Meeting (AGM).

The Board meeting, held on August 22, 2026, determined several critical outcomes concerning governance and human resources for the company, which is engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs) and Fine Chemicals.

Annual General Meeting and Audit Appointments​

The company's 27th Annual General Meeting (AGM) is scheduled for September 26, 2026, at Hotel Tara Suns in Gotri, Vadodara.

The Board approved the re-appointment of M/s Sarupria Somani & Associates, Chartered Accountants, as the Statutory Auditors for the Financial Year (F.Y.) 2026-27, with a proposed annual remuneration of ₹ 2,25,000/- (Rupees Two Lakh Twenty Five Thousand Only).

In addition to the statutory auditors, the Board considered and approved the appointment of M/s SIDDHPURA & CO, Chartered Accountants, as the Internal Auditor for the F.Y. 2026-27. Furthermore, M/s Maulin Shah & Associates, Cost Accountants, were approved for re-appointment as the Cost Auditors for the F.Y. 2026-27, with a remuneration of ₹ 60,00,000/- (Rupees Sixty Thousand Only) plus applicable taxes and reimbursement of out-of-pocket expenses.

The meeting also saw the approval of the Directors Report for the financial year ended March 31, 2026.

Key Personnel and Remuneration Outcomes​

The Board deliberated on the tenure and compensation of several directors and senior executives.

A summary of the key personnel decisions presented at the Board meeting is provided below:


The Board approved the increase in remuneration for Falgun Vallabhbhai Savani as Managing Director, and Jignesh Vallabhbhai Savani as CEO. These remuneration packages are subject to approval by the members at the AGM.

The Board also considered and approved the remuneration of Mr. Pravin Manjibhai Bhayani as an Independent Director for the period of one year, which is also subject to member approval.

Corporate Governance and Operational Details​

During the meeting, the Board also reviewed and approved the Directors Report and took decisions related to investment strategy. The Board granted authority to the Company Secretary or any present Director to certify necessary forms related to the financial year ended on March 31, 2026.

Regarding corporate structure and appointments, the Board decided the following:

• Director Re-appointment: The re-appointment of Mr. Jignesh Vallabhbhai Savani as a Director & CEO, who is liable to retire by rotation, was considered.
• E-Voting & Scrutiny: The company appointed CS Dip G. Patel, proprietor of DG Patel & Associates, as the Scrutinizer to oversee the voting process during both the AGM and remote e-voting. The company also appointed MUFG INTIME INDIA PRIVATE LIMITED as the Agency for providing the facility of e-voting.

The meeting commenced at 4:00 PM and concluded at 5:35 PM.

PAR Stock Price Movement​

Par Drugs And Chemicals Limited shares slipped by 1.20% on Friday, closing at ₹101.33 after trading in the Healthcare sector. The stock managed to hold above its daily low of ₹100.10, despite volatility during the session.