Granules India Limited has incorporated a wholly owned foreign subsidiary named "Triton Farmaceutica S.A. de C.V." in Mexico. The subsidiary was incorporated on October 22, 2026, and is located in Mexico.
The subsidiary is authorized with a share capital of 40,000 shares of MX$10.00 each. The purpose of establishing this subsidiary is to expand the company's corporate footprint and conduct pharmaceutical manufacturing, distribution, and related business activities in Mexico.
The subsidiary does not fall within the ambit of related party transactions with promoters/promoter group/group companies. No government or regulatory approvals were required for this incorporation, and no consideration was paid for share acquisition as it is a newly formed entity.
Granules India holds 100% of the shareholding in the subsidiary. The subsidiary represents the company's first venture in Mexico and has no historical financial performance as operations are yet to commence.