Zydus Lifesciences 31st AGM Transcript FY2026

Date: September 1, 2026

Mr. Kulin S. Lalbhai was appointed as an Additional Independent Director effective May 19, 2026, subject to shareholder approval at this AGM. He is Executive Director of Arvind Limited and has been appointed to the Audit Committee, Nomination and Remuneration Committee, and Risk Management Committee of Zydus.
All existing directors and key managerial personnel remained unchanged, including Chairman Mr. Pankaj R. Patel and Managing Director Dr. Sharvil P. Patel.
Statutory Auditors: Deloitte Haskins & Sells LLP, represented by Mr. Kartikeya Raval, Partner.
Secretarial Auditor: Mr. Ashish Doshi, who also served as Scrutinizer for the e-voting process.

The Board recommended a dividend of Re. 1/- per share (100%) for the financial year 2025-2026.
The dividend declaration was part of the ordinary business agenda for shareholder approval.

The Board approved several key decisions, including:

Adoption of Standalone and Consolidated Financial Statements for FY2026
Declaration of dividend @ 100% (Re. 1 per share)
Re-appointment of Mr. Pankaj Patel and Mr. Mukesh Patel as directors liable to retire by rotation
Re-appointment of Dr. Sharvil Patel as Managing Director for a further period of 5 years from April 1, 2027 to March 31, 2032
Appointment of Mr. Kulin Lalbhai as Independent Director for 5 years effective May 19, 2026
Ratification of remuneration of Cost Auditors for FY2027
Payment of commission to non-executive directors
Share buyback of up to ₹1,100 crore at ₹1,260 per share (approved post-FY2026 closure)

Consolidated revenues reached ₹27,148 crore (₹271.48 billion), representing 17% YoY growth
EBITDA margin stood at 31.2%
The growth was driven by balanced contributions across major businesses and markets
India formulations business maintained momentum and outperformed the market
International markets including Europe, Latin America, and emerging geographies delivered encouraging growth
US business progressed towards a more differentiated portfolio
Consumer Wellness segment expanded through both organic growth and strategic acquisitions
R&D investment maintained at approximately 8% of revenues

Auditor: Deloitte Haskins & Sells LLP
No adverse qualifications, observations, or comments in the Statutory Auditor's Report
The report was taken as read without requirement for detailed reading in the meeting

Acquisition of Comfort Click Limited: Strengthened presence across Europe and US through digital and direct-to-consumer channels
Entry into MedTech through Amplitude Surgical acquisition: Focus on orthopaedic implants, nephrology, and cardiology capabilities
Expansion into biosimilars: Tishtha® (nivolumab biosimilar) reached over 25,000 cancer patients in India within 7 months of launch
Saroglitazar Magnesium: US FDA granted Priority Review for Primary Biliary Cholangitis; planned US launch in Q4 FY2027

Shareholder voting: 74,79,96,033 shares (74.99% of total share capital) represented at AGM
E-voting conducted through CDSL platform
All resolutions passed through combined remote e-voting and meeting e-voting
Results to be filed with BSE and NSE and posted on company website

Management addressed questions on: