Transcript of 30th Annual General Meeting

Listing Department Code

532 321

Listing Department Code

Zyduslife

Re.

Transcript of the 30th Annual General Meeting

Dear Sir / Madam,

With reference to the captioned subject, please find attached the transcript of the 30th Annual

General Meeting of the Company held on Tuesday, August 12, 2025.

The same is also posted on the website of the Company at www.zyduslife.com.

Thanking you,

Yours faithfully,

For, ZYDUS LIFESCIENCES LIMITED

Encl.

As above

30th Annual General Meeting of Zydus Lifesciences Limited held on August 12, 2025

10:00 a.m. (IST) to 10:43 a.m. (IST)

Following Directors / Key Managerial Personnel / Auditors of the Company attended the

AGM through VC / OAVM:

1. Mr. Pankaj R. Patel Chairman

2. Dr. Sharvil P. Patel Managing Director

3. Mr. Ganesh N. Nayak Director

4. Mr. Apurva S. Diwanji Independent Director

5. Ms. Shelina P. Parikh Independent Woman Director

6. Mr. Akhil A Monappa Independent Director and Chairman of the Audit

Committee

7. Ms. Upasana K. Konidela Independent Woman Director

8. Mr. Mukesh M. Patel Non-Executive Director and Chairman of

Stakeholders’ / Investors’ Relationship Committee

9. Mr. Nitin D. Parekh Chief Financial Officer

10. Mr. Tushar Shroff President-Finance

11. Mr. Dhaval N. Soni Company Secretary

12. Mr. Kartikeya Raval Partner-Deloitte Haskins & Sells LLP, Statutory Auditors

13. Mr. Ashish Doshi Secretarial Auditor and Scrutinizer appointed for

Submitting his report on remote e-voting and e-voting during the AGM

Company Secretary

Good morning to all. My name is Dhaval Soni, Company Secretary of Zydus Lifesciences

Limited. I will be assisting the Chairman in conducting the Thirtieth Annual General Meeting.

This AGM of the Company is being conducted through Video Conferencing as per the provisions of the Companies Act and the circulars issued by MCA and the SEBI.

As a reminder, for the smooth conduct of AGM and to avoid background disturbance, members will be in mute mode and audio and video will be enabled only when they are invited to speak at the AGM as per the pre-registration. Any member facing any issue in joining the AGM virtually, may contact the CDSL officials on the helpline numbers as provided in the Notice of AGM. Please note that, as per the statutory requirements, the proceedings of the AGM are being recorded and will be made available on the website of the Company.

I now hand over the proceedings to Mr. Pankaj Patel, Chairman of the Company.

Chairman

Good morning, ladies and gentlemen. On behalf of the Board of Directors, I am pleased to welcome you all to the Thirtieth Annual General Meeting of Zydus Lifesciences Limited. I hope all of you have good health. Once again, we are meeting in virtual mode. Requisite quorum being present, I call the meeting to order.

The Company is conducting the AGM through Video Conferencing as allowed by MCA and

SEBI. The AGM is being conducted from the Registered Office of the Company.

Let me introduce the board and the Key Managerial Personnel present in this meeting. Mr.

Apurva Diwanji, Independent Director, Ms. Shelina P. Parikh, Independent Director, Mr. Akhil

Monappa, Independent Director and Chairperson of Audit Committee, Ms. Upasana Konidela,

Independent Director, Mr. Mukesh M. Patel, Non-Executive Director and Chairperson of

Stakeholders’ / Investors’ Relationship Committee, Dr. Sharvil Patel, Managing Director, Mr.

Ganesh Nayak, Director, Mr. Nitin Parekh, Chief Financial Officer, and Mr. Tushar Shroff,

President-Finance. Also, the meeting is attended by Mr. Dhaval Soni.

We also take on record the presence of Mr. Kartikeya Raval, Partner-Deloitte Haskins & Sells

LLP, Chartered Accountants and Statutory Auditor and Mr. Ashish Doshi, Secretarial Auditor of the Company, at this AGM.

All of you have received through e-mail the copy of the integrated annual report of the

Company for the year ended on March 31, 2025. The integrated annual report outlines our financial performance, ESG initiatives, and our commitment to transparency, sustainability, and long-term value creation. Structured around seven capitals-financial, manufacturing, intellectual, human, social, relationship and natural-it all offers a holistic view of our impact on people, communities, and the broader ecosystem. With this, Zydus aligns closer to global benchmarks in integrated reporting, reaffirming our purpose: improving lives through science, innovation, care, and sustainable growth. This is our continuing journey of

‘Transforming Health and Touching Lives.’

The integrated annual report also contains statutory report which inter-alia includes the

Notice of AGM. With your permission, I take the integrated annual report and Notice of AGM as read.

Before we start the official business of the AGM, I would like to talk briefly about the progress of the Company.

First of all, I congratulate the entire Zydus team for sustaining strong financial performance and advancing our core purpose. We further strengthened our balance sheet, expanded our market presence, and incubated new growth verticals. It was a landmark year, with robust, broad-based growth across our businesses. Our entry into the global MedTech space marks a strategic step towards building a new growth pillar. Backed by advanced manufacturing and a specialised team, the business currently offers interventional cardiology solutions, with more to follow.

The three key pillars of our growth are Innovation, People and Values.

Innovation drives everything we do at Zydus. Guided by our patient-centric approach, we aim to deliver breakthrough solutions that address unmet needs, tackle neglected diseases, and enhance quality of life.

Our efforts on advancing our portfolio of NCEs, biologicals including biosimilars, vaccines as well as rare disease therapies are meant to improve global patients’ health outcomes, impacting their lives and eventually help create lasting shareholder value.

Our 27,000 enthusiastic and committed employees drive our progress and purpose. Their expertise powers our impact on patient lives. With a solid foundation and forward-looking strategy, Zydus is well-positioned to seize the opportunities of the next decade-each milestone is a testament to our people’s collective excellence.

AI is transforming our workplace by streamlining the process, enhancing the decision-making, and driving innovation across functions-like research to marketing. By integrating automation and intelligent tools, we are boosting efficiency, precision, and speed while strengthening our focus on quality, safety, and impactful healthcare delivery.

We have begun integrating AI in areas like digital pathology risk stratification. Tests like

CanAssist® Breast use ML to assess protein expression, delivering objective, and reproducible insights that aid oncologists in making informed chemotherapy decisions.

As a responsible organisation, sustainability is embedded across our operations. We are on track to achieve net water neutrality by 2028 and are aligned to with a long-term carbon goals.

Climate risk assessments have helped mitigate asset-level risks, while a 38% rise in renewable energy use over the last three years and green manufacturing practices have reduced water, energy, and waste-without compromising output. Our improving ESG rating in key frameworks like S&P Global CSA and Sustainalytics reflects this continued progress.

Our CSR initiatives, driven by five pillars-Swasthya (Health), Shiksha (Education), Shodh

(Innovation), Saath (Community), and Saksham (Livelihoods) -continue to create meaningful impact.

As we look ahead, we remain focused on seizing emerging opportunities, leveraging transformative technologies, and going beyond the pill to deliver holistic solutions to promote both health and wellbeing.

As we look to the future, we do so with thoughtful optimism - rooted in science and inspired by the difference we can make together. With collective resolve and shared purpose, we are confident in our ability to transform health, touch lives, and shape a future where care is more connected, and far-reaching than ever before.

The Thirtieth Annual General Meeting of the Company is being convened in accordance with the Notice of AGM dated May 20, 2025.

We are now commencing the business of the meeting.

Representations under section 113 of the Companies Act, 2013, for a total of 75,43,45,848 shares aggregating to 74.97% of the total share capital, have been received.

As there are no adverse qualifications, observations or comments by the Statutory Auditor’s

Report and the Secretarial Auditor’s Report, said Auditors’ Reports are not required to be read in the meeting as provided in section 145 of the Companies Act.

I consider the Secretarial Audit Report and Statutory Audit Report to be taken as read.

I would now request the Company Secretary to brief the members about the voting procedure and take you through the resolutions.

Company Secretary

Thank you, Chairman Sir.

I would like to inform that the Company has taken necessary steps, as per the circulars issued by MCA and SEBI to ensure maximum participation and to provide equal opportunity to the members in the voting.

Pursuant to regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, provisions of section 108 of the Companies Act, 2013 and Rules framed thereunder, standard 7.2 of Secretarial Standard on General Meetings, the Company has provided facility to the members to cast their votes through remote e-voting. The detailed procedure and instructions for casting votes by the members through electronic means were prescribed in the Notice. The Company had fixed August 5, 2025, as the Cut-Off Date for deciding the names of the members entitled to cast their votes through remote e-voting as well as during this meeting. The Members holding shares as on August 5, 2025, shall only be allowed to exercise their votes in this Meeting. The remote e-voting period commenced at

9:00 a.m. on Saturday, August 9, 25, and closed at 5:00 p.m. on Monday, August 11, 25. The

Company has utilized the e-voting platform of CDSL. The remote e-voting module was blocked and disabled at 5:00 p.m. on August 11, 2025.

I request the members, who have cast their votes through remote e-voting, not to cast their votes again through e-voting during the AGM. The e-voting facility is available through the

AGM proceedings by the same login.

The icon for e-voting is available on the screen, which will re-direct you on a separate window to the e-voting portal of CDSL. The e-voting facility has been activated since 10.00 a.m. (IST) and will be closed 15 minutes post conclusion of the AGM.

The resolutions prescribed in the Notice of AGM, both ordinary business and special business, shall be passed at this AGM through e-voting and the resolutions shall be declared passed after adding the votes cast by the members through remote e-voting.

Pursuant to provisions of section 109 of the Companies Act, 2013, Mr. Ashish Doshi, Practicing

Company Secretary has been appointed as the Scrutinizer to conduct the e-voting process in a fair and transparent manner and submit his report to the Chairman. Mr. Ashish Doshi is also appointed as the Scrutinizer for remote e-voting.

As per the Notice of AGM, there are a total of 7 businesses to be transacted at this meeting-

4 Ordinary Businesses and 3 Special Businesses. The businesses to be transacted are:

1. Adoption of Standalone Financial Statements for the financial year ended on March 31,

2025, along with the report of Board of Directors and Statutory Auditors thereon.

2. Adoption of Consolidated Financial Statements for the financial year ended on March

31, 2025, along with report of Statutory Auditors thereon.

3. Declaration of dividend @ Rs. 11/- per equity share for the financial year 2024-2025.

4. Re-appointment of Dr. Sharvil Patel as a director liable to retire by rotation. (As Mr.

Pankaj Patel is interested in this resolution, Mr. Mukesh M. Patel shall occupy the Chair for this resolution)

5. Ratification of remuneration of Cost Auditors for the financial year ending on March 31,

2026. (Mr. Pankaj R. Patel shall again occupy the Chair for the remaining resolutions)

6. Re-appointment of Mr. Ganesh N. Nayak as the Director in employment for a period of

5 years i.e. from July 12, 2025, to July 11, 2030, notwithstanding the fact that he has attained age of seventy years.

7. Appointment of SPANJ & Associates as the Secretarial Auditor for a period of 5 consecutive years.

The members who have exercised their voting rights through remote e-voting are once again requested not to cast their votes during this meeting.

Once a report of the Scrutinizer is received, the Chairman will declare the decision of the members on each of the business transacted by the members through e-voting during AGM, adding thereto the votes cast by the members through remote e-voting.

The results of the voting together with the Scrutinizer’s Report will be placed on the

Company’s website at the earliest but within the statutory time permitted under the law.

The results of the voting will also be filed with the BSE Limited and the National Stock

Exchange of India Limited, where the shares of the Company are listed.

Members may visit the website of the Company or the website of BSE Limited or the website of the National Stock Exchange of India Limited.

Over to Chairman Sir.

Chairman

Thank you, Dhaval.

I now invite Members who have pre-registered to pose their questions, if any. I request you all not to repeat the same questions as raised by fellow members. We will make all efforts to answer all your queries, but if any questions remain unanswered, you may please send queries via email to the Company Secretary, and we shall revert appropriately.

I would now request the Company Secretary to call on the names of the speaker shareholders and would request to unmute the speakers and allow their video.

Company Secretary

Thank you, Chairman Sir.

The link to join the AGM was sent to the speaker shareholders on August 6, 2025, who had requested to pre-register before 7 days of AGM. Please note that there is a restriction of five minutes per speaker shareholder to speak. The shareholders who have not registered as a speaker shareholder and would like to have their questions / queries answered, please send an email to me. We shall suitably reply to all. We would make every effort to answer all the queries.

We will take the questions from all the speaker shareholders and then reply to all the questions together. We invite the first speaker shareholder Mr. Kaushik Sahukar to speak please

Mr. Kaushik Sahukar-speaker shareholder

Sir, am I audible?

Company Secretary

Yes

Mr. Kaushik Sahukar

Yeah. Good morning to respected Chairman, esteemed Directors and Key Management

Personnel.

It gives me immense pleasure to interact with you once again this year. I am also deeply grateful to the Company Secretary for granting me the opportunity. Coming to the agenda of meeting, I would like to seek the only clarification it goes with the USFDA recently issuing observation not related to data integrity at our Ahmedabad Oncology Injectable Plant. How is Zydus strengthening its global quality assurance protocol and supply chain resilience to mitigate similar future regulatory challenges, while sustaining growth export markets. One suggestion, Zydus Lifesciences could enhance its investor relations by introducing a dedicated platform or dashboard that provide real time updates on clinical trial progress, regulatory approvals and key R&D milestones, ensuring transparency and stronger engagement with stakeholders. Before concluding, I would like to share thought that I believe reflects our company’s own inspiring and hereditary journey. Zydus Lifesciences is redefining healthcare by turning innovation into hope and delivering wellness for every life it touches. And on a lighter note, Zydus Lifesciences is so committed to health that even their profit seems to come with a doctor’s prescriptions.

A personal appeal, I personally committed to putting my best efforts but with organization’s support, the journey becomes even more meaningful. In that spirit I humbly request a kind consideration of our esteemed Chairman, Mr. Pankaj Patel, our MD, Mr. Sharvil Patel and our

CFO, to provide me an opportunity to get associated with our company in the area of

Certification Audit, including those related to routine foreign payments or Form 15CB. Such an opportunity would not only help me remain professionally silent but also make me to feel fully connected as a valued part of our company’s family. No matter I am specially abled but my mind is still fragile that is why I am asking for some support of work and not just free money from our company. Sir, if our company helps some needy, may been even shareholders, it will also be counted as CSR activity, which our company is known for the same.

Sir, I request your kind associate with me. Lastly, I kindly request the management to consider organising a branch visit or a CSR initiative visit for speaker shareholders. This would offer us a first-hand view of the impactful work done at the grassroot level and allow us to celebrate the positive change being created through our CSR initiative.

Lastly, I humbly suggest that savings from virtual AGM will hopefully utilised for shareholder welfare. Perhaps too small to offer a token of appreciation, reinforcing our emotional connection with the company. Thank you for your time, attention and continued support. I look forward to engaging with you next year. And sir, please please please associate with me sir, please. Thank you, sir, thank you so much.

Chairman

Thank you.

Company Secretary

Thank you, next speaker shareholder is Mr. Santosh Sharma Chopra. The moderator has informed that he is not present in the meeting.

Moving on to next Mr. Yusuf Rangwala.

Mr. Rangwala?

Mr. Yusuf Rangwala-speaker shareholder

Hello, very good morning, sir. Am I audible sir?

Chairman

Yes, you are audible. Good morning.

Mr. Yusuf Rangwala

Good morning, sir, Yusuf Rangwala here speaking from Mumbai. My native place is also

Ahmedabad. I am connected with you. We have a lot of factories in Ahmedabad. Sir, there is

Dargah in Ahmedabad. Sir, if possible, please organize two days factory visit after Diwali. We will pray for you. What to say about Dhirender sir Soni.

Sir, I wanted to know that earlier we used to manufacture Nycil. Now have we stopped manufacturing Nycil and Glucon-D or we are selling? That I want to know. I Thank to Mr. Soni

Sir and the Secretarial team for sending me the balance sheet in due time. As is his name, so is his work. Sir, where do we stand currently in the list of Pharma Companies of the world.

What is our world ranking? You might have heard about Torrent Pharma, another big pharmaceutical company, established in Ahmedabad, is currently leading this sector. Sir, what is the total number of staff?

Chairman Sir, how is your health today? Your laughter is like a flower. “Fragrance of flowers, blossoming of buds and the laughter of Chairman Sir….” Your smile is similar to the petals of flower.

Thank you very much, sir. Sir, if possible, please organise a get- together on Diwali. It’s been years since I’ve met you. I humbly request you to, allow us the opportunity to meet you, organise a factory visit and to meet to you in person and have a cup of tea.

Thank you very much, sir. Greetings to you for all the coming festival. Especially for Govinda which on 16th. He may bless our Company and Ganesh Chaturthi is on 29th. If you bring

Ganeshji, Ganeshji also bless our Company. Jai Hind! Vande Mataram! I have enabled my video so that you can see me. Thank you very much, sir. How are you Sir? All well? You can see my photo. Yusuf Rangwala from Mumbai, your oldest shareholder.

This year, you have wholeheartedly given a dividend of ₹12. Thank you very much, sir. Jai

Hind. Do remember me on Diwali. Thank you, sir. Thank you.

Chairman

Thank you.

Company Secretary

Thank you. The moderator has also informed that speaker shareholder No. 4 Ms. Prakashini

Shenoy is not present in the meeting, so we move ahead with the fifth speaker shareholder

Mr. Dinesh Bhatia.

Mr. Bhatia?... Mr. Bhatia?

Mr. Bhatia we cannot hear you.

Mr. Dinesh Bhatia- speaker shareholder

Am I audible? Hello...

Chairman

Yes.

Company Secretary

Yes.

Mr. Dinesh Bhatia

Can you hear me, sir?

Chairman

Yes, we can.

Mr. Dinesh Bhatia

Ok. First and foremost, I would like to congratulate you and your entire team for such an outstanding and commendable work. The companies that are performing well and have good prospects, shares of such companies tend to command a greater price over BSE. It is evident that due to your hard work and determination, the share of company having a face value of

₹ 1/- is commanding a price of ₹ 955/- in the market. The credit should be given to your hard work. I take pride in being a shareholder of such a progressive company.

Your team’s hard work has translated into a series of prestigious awards and honours, as elaborated on the page no. 16 of the annual report. Congratulations on these well-deserved accolades.

All these cumulatively have transpired into an enhanced EPS (Earning Per Share) of ₹ 57 compared to ₹ 34 last year. This year, on ₹1 we are earning ₹57.39. It’s a matter of pride that the company has achieved it. This also proves your tremendous commitment and hard work.

I vouch to support the company in all its decisions.

I sincerely appreciate the Secretarial Department for facilitating my participation in the AGM by providing the necessary link to join from Mumbai. My only request to the company would be to organise a plant visit, as also insisted by another speaker shareholder, Mr. Yusuf

Rangwala. We appreciate if you would invite the speaker shareholders or shareholders who have joined the AGM, for plant visit. I support the company in every resolution and wish it continued prosperity. Thank you, all the best.

Company Secretary

Thank you. The next speaker shareholder is Mr. Prabhjot Sahni, he is also not present in the meeting.

Mr. Manjit Singh, he is also not present in the meeting. Next is Mr. Jaydip Bakshi.

Mr. Bakshi?

Mr. Jaydip Bakshi-speaker shareholder

Yes, very good morning, Chairman and Board of Directors.

Myself Jaydip Bakshi connecting from the city of Kolkata.

First of all, I convey my thanks to the Company Secretary for presenting me a detailed and informative Annual Report and also allow me to speak in this virtual AGM. And also, for the moderator for conducting this video conference in a smooth manner. Sir, your initial speech was very much informative. You shared about the facts about our company and congrats once again for the performance and also for the dividend.

Sir, we have a good presence in the international market, so how much is being affected because of these headwinds which is affecting every industry? How do we come plan to come out of these challenges? And we have different verticals. So, what is the margin of the which is sharing the highest margin, percentage wise, can you share? And what is our future growth plans? Kindly share and I personally use some of these products which have been discontinued. How are we planning to again revive them, kindly share that also.

And as requested by my earlier speaker, if you are arranging for a planned visit, do inform us so I will be also be glad to have the see the operations in active. And do remember us sir during the festive seasons. Thank you, sir, and all the best for the to the company in the coming years. Thank you, sir.

Chairman

Thank you.

Company Secretary

Thank you. The next speaker shareholder is Mr. Parikshit Gohil, Mr. Gohil?

Mr. Gohil, we cannot hear you. Mr. Gohil?

We are not in a position to hear Mr. Gohil.

The next speaker shareholder, Mr. Keval Kumar, he is also not present in the meeting.

Next is Ms. Ashika Talreja, she is also not present.

And the last and twelfth speaker shareholder for today's meeting is Mr. Tejas Shah.

Tejas Bhai?...

Tejas Shah-speaker shareholder

Am I audible?

Chairman

Yes, Tejas Bhai.

Company Secretary

Yes

Tejas Shah

Yeah. Thank you. How are you doing, Pankaj Bhai?

Chairman

Yes, all well. Hope you are doing well, Tejas Bhai?

Tejas Shah

Yes, yes. Thanks to your blessings.

Chairman

You haven’t come for a cup of tea for days.

Tejas Shah

Yes, you haven’t invited me in a while.

Chairman

Will you come only if invited?

Tejas Shah

Sir, you are a busy person, unlike me.

Respected Chairman and all the Board members, thank you for giving me the opportunity to speak. Thanks to the Secretarial Department for timely sending me the hard copy of the

Annual Report and subsidiaries balance sheets and also timely sending me the link to join the

AGM.

Chairman Sir, our growth is excellent thanks to the management. Sir, you have strengthened in many sectors but in our corporate governance is very poor, Sir.

Sir, in last AGM, I had asked many questions out of which few were answered but most of it unanswered. Sir, you had promised me to answer are send to you but till this date I have not received the same. So, question arises on your promise, sir. Sir, in last AGM, my many questions related to investment in loss making subsidiary and over the period impaired or diminished it. Sir, our total subsidiary is 49 and out of it 25 is loss-making. More than 50% of our subsidiaries are loss-making, sir.

Sir, last year, we invested ₹3000 millions in Zydus VTEC Limited, ₹6600 millions in Zydus

Pharmaceuticals Limited, ₹10000 millions in Zydus Lifesciences Global FZE. In last year, all these companies were loss-making and this year also, all were loss-making, sir. It’s a investment around ₹20000 millions i.e. ₹2000 crores in these kind of loss-making companies.

It is a matter of worry for we, investor, sir. Sir, this year also, we had invested around ₹800 millions in Zydus Ventures PTE LTD, which is also a loss-making company. We had also invested around ₹1400 millions in Zydus MedTech Private Limited, which is also loss-making, sir.

Sir, we had given loan around ₹300 millions to Zydus Worldwide DMCC, which was also loss- making, sir. My humble request to all the Independent Directors, who are representative of we, investors kindly look into these types of investments and take stance in behalf of we, investors.

Chairman Sir, what is the reason behind the arrangement of Zydus Foundation with Zydus

Family Trust and why ₹200 Millions given to Zydus Foundation as a advance CSR contribution.

Sir, in Zydus School for Excellence and in Zydus Hospital. What amount we funded directly or through subsidiaries in these entities. Sir, I have many questions regarding accounts, but right now not taking much time I will send it in writing. Sir, one more request to you to kindly send me the last year AGM answer and this years also in writing. Thank you, sir.

Company Secretary

Ok. With this, we conclude the list of members who have pre-registered with the company as speakers.

I now handover the proceedings back to Chairman to respond.

Chairman

I will answer certain questions, and the rest Dr. Sharvil Patel will try and answer them. So, I will generally ask reply only for the general questions. First question of Mr. Kaushik Sahukar about the Oncology Plant FDA Inspection. There are some observations, but we believe very strongly that these observations are in normal course, would not have any impact going forward on the plant. However, we’ll have to wait till the outcome of the FDA evaluation.

Number of shareholders have suggested about plant visit, and I will request Company

Secretary if there is a possibility of organising a plant visit during the next year. R&D

Dashboard proposal is a good idea to have it, and we will try and do that. The other shareholders have expressed their thinking about the organisation and the performance, and

I must thank them for their support and also encouraging us to do even more.

Mr. Bakshi talked about headwinds. Headwinds are part of life that gives you challenges, and

I think, we believe every challenge has an opportunity and we expect that this challenge also we will convert in opportunity and become successful. Let’s pray and work hard to make that happen.

Tejas Bhai has asked many questions, so I want to address few questions, Tejas Bhai one by one. Zydus Lifesciences has not paid anything to Zydus School or Zydus Hospital. They are not part of Zydus Lifesciences. No funding have been provided to any of them, they are being provided through by the family but not by the company. Please note. Second is, you talked about Corporate Governance. There are subsidiaries, let me go one by one. Zydus VTEC, you talked about it is the subsidiary we created to produce the Covid vaccine and when we invested in that we wanted to help people of India. And as an organisation, as a board, we very strongly believe that when there are crises, we don’t look at P&L, but we look at people’s health and supporting people. And that’s where the VTEC investment has taken place. Now that covid is no more there, obviously this investment has limited use, but we are now trying to put the same plan into another product so that we can use it. The second thing you talked about Zydus Pharmaceuticals. It’s a new plant which is just built, and the new plant is now currently have been recently approved by FDA. The products are getting approved from there.

With that, the company will start making business and we should be able to business. Zydus

Dubai, which you talked about, the FZE facility. This is the facility which basically was created for the US pipeline, which we work with global companies to make that happen, and this is basically a lot of In-licensing has happened. The period from the Licensing to Approval to Sale is a long period. Once the business will start picking up, you will see significant revenue, and profits will come out of that subsidiary. Zydus Venture is a small investment arm of Zydus, which is looking at investing into global biotech companies in a small way to create opportunity for organisation for more innovative products and I think that’s where small investments are being made. Zydus MedTech is a new venture, as you are aware that we are entering into medical technology area, we are getting medical equipment’s and other allied products, and as a part of that, Zydus MedTech has been created. It’s going to be a new subsidiary which will move into becoming a major player in India in MedTech field.

Zydus Foundation, under which we have set up Zydus Hospital and Medical College at Dahod, which is our CSR initiative. We treat large number of patients, reports are there in the annual report also. But we treat almost half a million patients every year there in the tribal area of

Gujarat. We do not charge anything to them. We have 200 medical graduates coming out of the medical school every year, contributing to the medical field in India. We also have now postgraduate programmes of more than 100 students are now there and we will soon have

100 post-graduates in medical science available from this hospital. This hospital has received number of awards and things like that. And at Zydus, as a part of CSR funding, we are using the CSR resources to strengthen the hospital, provide more equipments, more things, so that people in that backward area get the benefit. I think I have answered most of the questions.

Some of the questions may not be answered, and you may get in touch with Company

Secretary, and he will do needful.

Now, I will ask Dr. Sharvil Patel, if he want to talk about something about the growth strategy.

Dr. Sharvil Patel- Managing Director

Thank you, Chairman.

With regard to questions related to growth, both in India and US, we have a very strong pipeline of products that we have filed and are still to commercialise for all our core markets, which are the international markets, India and US and we believe that commercialisation of this innovative portfolio will continue to aid in better growth and better and higher margins for the organisation.

In terms of the global events and the risks that exists, yes, supply chain resilience is a very important area which we continuously work on to make sure we mitigate our risks related to supply disruptions. At the same time, we are watchful of the events that are happening, and as and when we are able to see what the impact of it, we will come back to the shareholders.

In terms of the other growth plan, we have new areas like vaccines, biologics and MedTech, which are future growth drivers for the organisation, and we hope to build a long-lasting sustainable business, both within the country and also for exports, and that will drive business for the future. Thank you.

Chairman

With that we have completed the question and answer session. Those members who have still not cast their votes may do so through the CDSL e-voting facility available in the same portal. The e-voting shall close in another 15 minutes.

Ladies and Gentlemen, I would like to place on record my appreciation and gratitude for support and co-operation received from all the employees, government authorities, regulatory authorities, bankers, customers and all the stakeholders. I also thank all Zydans in their tremendous support in this testing time. The Thirtieth Annual General Meeting is now concluded. I thank you all for being with us today. As informed in the beginning of the meeting, the combined voting results will be displayed by the Company will be displayed on the Company’s website and communicated to BSE and NSE. I wish and pray the safety and well-being of you and your family. Thank you.