Date: 21st August, 2026

Business Activities & Products

  • Main Activity: Manufacture of Formulation Pharmaceuticals (100% of turnover)
  • Product Breakdown:
  • Formulation Pharmaceutical Preparation: 89% of turnover (NIC Code 21002)
  • Chemical Preparation (Active Pharma Ingredients): 9% of turnover (NIC Code 21001)
  • Analytical Research & Bio-Equivalent Studies: 2% of turnover (NIC Code 72100)

Operations & Markets

  • Locations: 12 National (8 plants, 4 offices), 1 International office
  • Markets Served: 20 Indian states, 55+ international countries
  • Export Contribution: 45.10% of total standalone revenue
  • Customer Base: Patients, healthcare professionals, hospitals, clinics, wholesalers, distributors, retail pharmacies, government agencies, other pharmaceutical companies, and international customers.

Employees & Workforce

  • Total Employees: 5,038
  • Permanent Employees: 5,036 (Male: 4,591, 91.16%; Female: 445, 8.84%)
  • Other than Permanent Employees: 2 (Male: 1; Female: 1)
  • Total Workers: 1,517
  • Permanent Workers: 708 (Male: 684, 96.61%; Female: 24, 3.39%)
  • Other than Permanent Workers: 809 (Male: 688, 85.04%; Female: 121, 14.96%)
  • Differently Abled: 1 permanently employed differently abled employee. No differently abled workers.
  • Women Representation:
  • Board of Directors: 2 out of 8 (25%)
  • Key Management Personnel: 0 out of 2 (0%)
  • Turnover Rate (Permanent):
  • Employees: 35.07% (Male: 35.82%, Female: 26.20%)
  • Workers: 21.42% (Male: 21.74%, Female: 11.11%)

Subsidiaries & Associates

  • Subsidiaries (100% owned unless stated): Xtend Industrial Designers and Engineers Private Limited, Indoco Remedies Czech S.R.O., Indoco Remedies UK Limited, Warren Remedies Private Limited, FPP Holding Company, LLC (85% owned).
  • Associates (26% owned): Jalansar Wind Energy Private Limited, Kanakal Wind Energy Private Limited.

CSR Applicability

  • CSR Applicable: Yes (as per section 135 of Companies Act, 2013)
  • Turnover: ₹ 1,63,353.81 Lakhs
  • Net Worth: ₹ 1,09,277.23 Lakhs

Grievance Redressal (FY25-26)

  • Communities: 0 complaints filed; 0 pending.
  • Investors: 0 complaints filed; 0 pending.
  • Shareholders: 0 complaints filed; 0 pending.
  • Employees & Workers: 84 complaints filed; 4 pending (under investigation).
  • Customers: 205 complaints filed; 17 pending (under investigation).
  • Value Chain Partners: 0 complaints filed; 0 pending.

Material Responsible Business Conduct Issues

The report identified 14 material issues, categorized as risks or opportunities, with rationales and financial implications:

1. Energy Management (Opportunity): Potential for reduced operating costs via renewable energy and efficiency.

2. Carbon Emissions (Risk): Rising production could increase emissions, requiring costly mitigation.

3. Water Management (Risk): Water scarcity threatens operations; efficiency measures are key.

4. Waste Management (Opportunity): Recycling waste can reduce operating costs.

5. Value Chain Management (Risk): Supply chain disruptions pose a business risk; ethical practices are beneficial.

6. Social Responsibility (Opportunity): CSR boosts reputation and leads to long-term financial gains.

7. Diversity, Equity & Inclusion (Opportunity): DEI improves morale and strengthens workforce.

8. Employee Welfare (Opportunity): Benefits are crucial for wellbeing and operational effectiveness.

9. Product Responsibility (Risk): Quality/safety issues could have major financial/legal repercussions.

10. Attracting and Retaining Talent (Opportunity): High retention indicates a positive work environment.

11. Employee Health & Safety (Opportunity): Investment in safety yields positive long-term results.

12. Business Conduct and Ethics (Risk): Non-compliance risks financial, legal, and reputational damage.

13. Risk Management (Opportunity): Proactive risk reduction maintains profitability.

14. Data Integrity and Security (Opportunity): Strong data security ensures compliance and prevents loss.

Management & Process Disclosures

  • Policies: The entity has policies covering all 9 NGRBC Principles, approved by the Board, extended to the value chain, and translated into procedures.
  • Codes/Certifications: Adheres to WHO-cGMP, Schedule M, ICH guidelines. Patalganga API site awarded EcoVadis Bronze Medal (Score: 64/100, 67th percentile) in March 2026.
  • ESG Targets for 2030 (Baseline FY26): Reduce freshwater withdrawal by 3%; Reduce energy consumption by 3%; Reduce Scope 1 & 2 GHG emissions by 3%; Zero workplace incidents; Zero human rights violations; Zero tolerance for child labour; Zero incidents of data breaches, corruption, and bribery.
  • Statement by Director (Ms. Aditi Panandikar): Highlights progress in renewable energy (43.5% of mix, up from 23.9%), Scope 1 emissions down 18.6%, total water withdrawal reduced by 16.7% to 3,39,737 KL, and digitalization efforts. Notes challenges with absolute energy consumption rising 27.1% due to production increases.
  • Oversight: Ms. Aditi Panandikar, Managing Director, is the highest authority responsible. No specified Board Committee for sustainability.
  • Policy Review: Policies are reviewed internally by department heads/directors/committees as needed. Statutory compliance is reviewed by the Board quarterly. No external assessment conducted.

Principle-Wise Performance Disclosure

Principle 1 (Ethics, Transparency, Accountability)

  • Training Coverage: Board (100%, 4 programs), KMP (50%, 1 program), Other Employees (78.51%, 692 programs), Workers (68.95%, 210 programs).
  • Fines/Penalties: One penalty of ₹40,000 from Assistant Commissioner, Saidapet, for non-submission of e-way bill for inward supply. No appeals.
  • Anti-Corruption: Policy in place. No disciplinary actions for bribery/corruption against any Directors, KMPs, employees, or workers.
  • Conflict of Interest: 0 complaints received for Directors or KMPs.
  • Accounts Payable Days: 66 days (FY26) vs. 48 days (FY25).
  • Business Openness: Purchases from top 10 trading houses = 28.79% of total trading house purchases. Sales to dealers = 86.99% of total sales. RPTs: Purchases 2.19%, Sales 4.67%, Loans & Advances 97.67%, Investments 100%.

Principle 2 (Sustainable & Safe Goods/Services)

  • Capex on ESG Improvements: 0.95% of total capex in FY26 (vs. 2.78% in FY25), funding ZLD systems, effluent monitoring, and emission controls.
  • Sustainable Sourcing: Supplier Code of Conduct in place. 0.83% of inputs by value sourced sustainably from 5 vendors. A Sustainable Procurement Programme is under implementation.
  • Waste Reclaiming: Processes in place for plastics, e-waste, hazardous waste, and other waste, using authorized recyclers and TSDF sites. Structured pharmaceutical waste destruction protocols followed.
  • Extended Producer Responsibility (EPR): Applicable. Introduced 1,199 tons of plastic packaging. Will procure 1,199 tons of plastic waste credits by June 30, 2026, for compliance.

Principle 3 (Employee Well-being)

  • Well-being Measures Coverage (Permanent): 100% coverage for Health & Accident Insurance for all employees and workers. 100% Maternity coverage for female employees (8.84% of total employees) and female workers (3.39% of total workers). 0% coverage for Paternity Benefits and Day Care facilities.
  • Spending: Cost on wellbeing measures was 0.33% of total revenue.
  • Retirement Benefits (Permanent): 100% coverage and timely deposit for PF and Gratuity for employees and workers. ESI coverage: Employees 8.89%, Workers 14.12%.
  • Workplace Accessibility: Premises are accessible to differently-abled persons.
  • Parental Leave: Return to work rate after parental leave: Female employees 72.73%, Female workers 66.67%. Retention rate: 0% for both.
  • Grievance Mechanism: Comprehensive mechanism exists via HR policies (Code of Conduct, Whistle-Blower, POSH).
  • Unions: 12.85% of permanent workers are part of a union (91 workers: 84 Male, 7 Female).
  • Training: 6.08% of employees received health/safety training; 76.79% received skill training. 41.53% of workers received health/safety training; 18.08% received skill training.
  • Performance Reviews: 90.73% of employees and 95.90% of workers received performance/career development reviews.
  • Health & Safety: OHS system implemented with 100% coverage. Processes for hazard identification and worker reporting are in place. Non-occupational healthcare access is available.
  • Safety Incidents (FY26): LTIFR for employees: 0.153. Total recordable injuries: Employees: 3, Workers: 1. Zero fatalities and zero high-consequence injuries.
  • Complaints: 0 complaints on working conditions or health & safety.

Principle 4 (Stakeholder Responsiveness)

  • Stakeholder Identification: Process involves mapping and prioritization based on influence/impact. Key groups include Shareholders, Banks, Regulatory Authorities, Suppliers, Employees, Distributors/CFAs, Consumers, Customers (B2B), and NGOs.
  • Engagement: Detailed table provided outlining channels (e.g., emails, meetings, website) and frequency (e.g., regular, as required) for engagement with each stakeholder group on specific topics.

Principle 5 (Human Rights)

  • Human Rights Training: 2.46% of employees (124) and 2.50% of workers (38) received training.
  • Minimum Wages: 99.44% of permanent employees and 100% of permanent workers paid above minimum wage. 33.62% of 'Other than Permanent' workers paid above minimum wage.
  • Remuneration: Median remuneration provided for BoD, KMP, other employees, and workers by gender.
  • Gross Wages to Females: 11.40% of total wages.
  • Focal Point: Human Resources Head is the focal point for human rights issues. Internal mechanisms include Whistle-Blower policy, Code of Conduct, and POSH policy.
  • Complaints: 0 complaints on sexual harassment, discrimination, child labour, forced labour, wages, or other human rights issues.
  • POSH Complaints: 0 complaints reported.
  • Mechanisms: Policies protect complainants from adverse consequences in discrimination/harassment cases.
  • Business Agreements: Human rights requirements form part of business agreements and contracts.

Principle 6 (Environment)

  • Energy Consumption (FY26): Total: 36,40,84,909.32 MJ. Renewable: 15,84,69,680.95 MJ (43.5%). Non-Renewable: 20,56,15,228.37 MJ. Intensity: 2,228.81 MJ/Lakh ₹ turnover.
  • PAT Scheme: Not applicable; not a designated consumer.
  • Water (FY26): Total Withdrawal: 3,39,737 KL. Total Consumption: 2,86,269.6 KL. Intensity: 1.75 KL/Lakh ₹ turnover.
  • Water Discharge (FY26): Total: 53,467.4 KL. Sent to third-parties: 29,881 KL (treated). Others: 23,586.4 KL (treated).
  • Zero Liquid Discharge: Partial ZLD implemented at Patalganga Plant and R&D centre.
  • Air Emissions (FY26): Particulate Matter: 35.68 µg/m³.
  • GHG Emissions (FY26): Scope 1: 12,377.97 TCo2e; Scope 2: 24,580.88 TCo2e; Total: 36,958.85 TCo2e. Intensity: 0.23 TCo2e/Lakh ₹ turnover.
  • GHG Reduction Projects: Projects initiated to replace solid fuel boilers with gas-fired boilers and replace steam-based hot water systems with heat pumps.
  • Waste (FY26): Total Generated: 1,354.59 MT. Includes plastic (58.88 MT), e-waste (1.31 MT), bio-medical (19.60 MT), construction & demolition (69.85 MT), other hazardous (889.08 MT), other non-hazardous (315.87 MT). Total Recovered/Recycled: 540.07 MT. Total Disposed: 753.34 MT (Incineration: 13.43 MT; Landfilling: 233.81 MT; Other: 506.10 MT).
  • Waste Management: Strategy based on 3R principle (Reduce, Reuse, Recycle). Waste tracked and disposed of via authorized parties. EPR compliance for plastic waste.
  • Ecologically Sensitive Areas: No operations in/around ecologically sensitive areas.
  • Environmental Compliance: Compliant with applicable environmental laws (Water Act, Air Act, EPA). No non-compliances, fines, or penalties.

Principle 7 (Responsible Public Policy Influence)

  • Industry Affiliations: Affiliated with 11 trade/industry chambers/associations. Top 10 listed, including FICCI, IDMA, Pharmexcil (National), and HPDMA, Maharashtra Economic Development (State).
  • Anti-competitive Conduct: No issues or corrective actions related to anti-competitive conduct.

Principle 8 (Inclusive Growth)

  • Social Impact Assessment (SIA): Not required or undertaken in FY26.
  • Rehabilitation & Resettlement (R&R): No ongoing R&R projects.
  • Community Grievance: Mechanism provided in the external Grievance Redressal Policy.
  • Sourcing: 24% of input material by value sourced directly from MSMEs/small producers. 68% sourced directly from within India.
  • Job Creation: Wages paid by location: Rural (23.70%), Semi-urban (11.73%), Urban (16.89%), Metropolitan (47.68%).

Principle 9 (Responsible Consumer Engagement)

  • Consumer Complaints Mechanism: Dedicated processes and SOPs exist for receiving, logging, investigating, and responding to consumer complaints for both formulations and APIs.
  • Product Information: 100% of turnover from products carrying safe and responsible usage info. Environmental/social and recycling/disposal info not fully quantified yet (LCA not conducted).
  • Consumer Complaints: 0 complaints on data privacy, advertising, cyber-security, delivery of essential services, restrictive trade practices, or unfair trade practices.
  • Product Recalls: 3 voluntary recalls during the year for compliance standards, not safety concerns. 0 forced recalls.
  • Cyber Security/Data Privacy: Frameworks/policies are in place (IT Policy, Risk Management Policy).
  • Data Breaches: 0 instances of data breaches.
  • Corrective Actions: No corrective actions needed on consumer-related issues as no problems occurred.

Sign-off

**For and on behalf of the Board of Directors

Indoco Remedies Limited

Sd/-

Suresh G Kare

Chairman

DIN: 00179220

Place: Mumbai

Date: May 07, 2026**