Meeting Details

The 48th Annual General Meeting of Biocon Limited was held on Thursday, August 06, 2026 at 3:30 PM IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The deemed venue for the meeting was the registered office of the Company at 20th KM, Hosur Road, Electronic City, Bengaluru, 560 100, Karnataka, India. The meeting was conducted in compliance with MCA circulars (including General Circular no. 03/2025 dated September 22, 2025), the Companies Act, 2013, and SEBI Listing Regulations, 2015.

Attendance

90 Members were present at the meeting through video conferencing. The following officials attended:

Directors Present:

  • Ms. Kiran Mazumdar-Shaw (Executive Chairperson)
  • Mr. Shreehas Pradeep Tambe (CEO and Managing Director)
  • Ms. Naina Lal Kidwai (Lead Independent Director)
  • Prof. Ravi Rasendra Mazumdar (Non-Executive Director)
  • Mr. Eric Vivek Mazumdar (Non-Executive Director)
  • Mr. Nicholas Robert Haggar (Independent Director)
  • Ms. Rekha Mehrotra Menon (Independent Director)
  • Mr. Atul Dhawan (Independent Director)
  • Mr. Thomas Jason Roberts (Non-Executive Director)
  • Mr. Arun Chandavarkar (Independent Director)
  • Ms. Nivruti Rai (Independent Director)

Key Managerial Personnel:

  • Mr. Kedar Narayan Upadhye (Chief Financial Officer)
  • Mr. Rajesh U. Shanoy (Company Secretary and Compliance Officer)
  • Mr. Akhilesh Nand (Global Head - Governance, Risk & Compliance)

Other Invitees:

  • Representatives from Statutory Auditors B S R & Co. LLP: Mr. Debabrata Ojha (Partner), Mr. Gopinath Arunachalam (Director), Mr. Sanket Bhuwania (Associate Director)
  • Mr. Pradeep Kulkarni (Partner, V Sreedharan & Associates, Secretarial Auditors and Scrutinizer for e-Voting)

Resolutions Proposed and Implications

The meeting considered and voted on nine resolutions:

Ordinary Business:

1. Adoption of Audited Financial Statements for FY ended March 31, 2026 and reports of Board of Directors and Auditors - Ordinary Resolution

2. Declaration of final dividend of 10% i.e. ₹0.50 per equity share for FY ended March 31, 2026 - Ordinary Resolution

3. Re-appointment of Eric Vivek Mazumdar (DIN: 09381549) as Director liable to retire by rotation - Ordinary Resolution

4. Appointment of S.R. Batliboi & Associates LLP as Statutory Auditors of the Company - Ordinary Resolution

Special Business:

5. Formulation, adoption and implementation of Biocon Unity Long Term Incentive Plan 2026 (including Performance Stock Unit Plan, Restricted Stock Unit Plan, Employee Stock Purchase Plan, and Management Stock Unit Plan) for eligible employees - Special Resolution

6. Granting of equity-based incentives under the Biocon Unity Long Term Incentive Plan 2026 to employees of subsidiary/associate/holding companies - Special Resolution

7. Authorization to Biocon India Limited Employees Welfare Trust for Secondary Acquisition for plan implementation - Special Resolution

8. Approval for providing financial assistance to Biocon India Limited Employees Welfare Trust for acquisition of company shares - Special Resolution

9. Ratification of remuneration of Cost Auditors for FY 2026-27 - Ordinary Resolution

Voting Process and Methods

The voting process was conducted in compliance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI Listing Regulations, 2015.

Remote e-voting was provided to all members as of the cut-off date (Thursday, July 30, 2026) through KFin Technologies Limited, the company's RTA. The voting period was from Saturday, August 01, 2026 (9:00 AM IST) to Wednesday, August 05, 2026 (5:00 PM IST).

E-voting during the meeting was also provided for members who had not participated in remote e-voting. Mr. Pradeep Kulkarni of V Sreedharan & Associates was appointed as the Scrutinizer for the e-voting process.

Key Meeting Proceedings

The Chairperson, Ms. Kiran Mazumdar-Shaw, welcomed members and noted the absence of Mr. Rajiv Malik, Mr. Daniel Bradbury, and Mr. Peter Piot due to personal exigencies. She acknowledged the completion of tenure of Mr. Bobby Kanubhai Parikh (effective July 22, 2026) and Mr. Nicholas Robert Haggar (effective conclusion of this AGM), and expressed appreciation for their contributions.

The Chairperson also noted that B S R & Co. LLP would complete their tenure as Statutory Auditors with effect from the conclusion of this AGM.

The quorum was present as per Section 103 of the Companies Act, 2013. The Notice of AGM and financial statements were sent to members within statutory timelines via email or physical letter with web-link access.

The Company Secretary explained the voting process and confirmed that statutory registers were available electronically for inspection. Both Statutory Auditors and Secretarial Auditors had expressed unmodified opinions on their respective reports for FY 2025-26.

The Chairperson delivered a speech highlighting FY26 financial performance (13% revenue growth, 200bps EBITDA margin expansion), the full integration of Biocon Biologics as a wholly owned subsidiary, and the company's strategic focus on biosimilars, insulins, and GLP-1 peptides.

The meeting concluded at 4:54 PM IST after transacting all agenda items.

Compliance Confirmation

The meeting was conducted in full compliance with the Companies Act, 2013, SEBI Listing Regulations, 2015, and relevant MCA circulars. The combined results of remote e-voting and e-voting at the AGM along with the scrutinizer's report were to be intimated to stock exchanges within two working days and made available on the company website and RTA website.