Wockhardt Ltd

Wockhardt Limited: Trading Window closed from 1 October 2026 until 48 hours after the unaudited results for the quarter and half year ended 30 September 2026

Governance / Compliance

• Adjudication order by the Commissioner of Customs imposes penalties totaling ₹16 crore on Wockhardt for API mis-classification.
• Penalties include ₹5 cr under 114(iii), ₹10 cr redemption under 125(1), ₹1 cr on an officer.
• Date of receipt: 21 August 2026; company to appeal.
• Impact: except monetary penalties, no material impact on financials.

AGM Details

• 27th AGM held on 10 August 2026 at 10:30 IST via VC/OAVM.
• Record date: 3 August 2026.
• Attendance: 187 members; 14 promoters and 173 public via VC/OAVM.

Key Resolutions

• 01: Adoption of Audited Standalone and Consolidated Financial Statements for FY2026.
• 02: Ordinary: Re-appointment of Zahabiya Khorakiwala as Director retiring by rotation.
• 03: Ratification of Cost Auditors' remuneration for FY2026-27: ₹3,85,000 plus taxes and expenses.
• 04: Executive Chairman remuneration revised for 3 years; first year up to ₹10 crore, ceiling ₹15 crore.
• 05: Approval of RPT with Wockhardt Bio AG up to ₹1,000 crore.
• 06: Approval of RPT among Wockhardt Bio AG and CP Pharmaceuticals Limited up to ₹550 crore.
• 07: Approval of RPT among Wockhardt Bio AG and Wockhardt UK Limited up to ₹550 crore.
• 08: Approval to raise capital up to ₹3,000 crore via public or private offerings including QIP.
• 09: Zahabiya Khorakiwala appointed Executive Co-chairperson of Wockhardt Bio AG; remuneration USD 250,000.
• 10: Modification in the Objects of Qualified Institutions Placement.

Voting Results

• All resolutions were passed; no failures reported.

Directors & Auditors

• Khorakiwala Zahabiya re-appointed as Director on rotation.
• Zahabiya Khorakiwala appointed Executive Co-chairperson of Wockhardt Bio AG; remuneration USD 250,000.
• Cost Auditors remuneration for FY2026-27 approved.

Related Party Transactions

• RPT with Wockhardt Bio AG up to ₹1,000 crore.
• RPT among Wockhardt Bio AG and CP Pharmaceuticals Limited up to ₹550 crore.
• RPT among Wockhardt Bio AG and Wockhardt UK Limited up to ₹550 crore.

Other material Approvals

• Capital raise up to ₹3,000 crore via offerings including QIP.
• Modification in Objects of Qualified Institutions Placement.

Issue overview

• Type: QIP of equity shares.
• Size: gross Rs 1,000 crore; net Rs 977.79 crore; net revised.
• Objectives: debt repayment, capex & R&D, general corporate purposes.

Utilisation of proceeds

• Utilisation as per offer document; no material deviation observed.
• Net proceeds updated to Rs 977.79 crore due to lower expenses.
• Object 1: debt repayment fully utilised; as of Mar 31, 2026.
• Object 2: capex/R&D utilised Rs 111.30 crore; unutilised Rs 138.70 crore.
• Object 3: GCP utilised Rs 227.79 crore; fully utilised.
• Mutual funds redeemed; Rs 23.63 crore utilised directly from cash accounts.
• Unutilised Rs 138.70 crore parked in funds: Rs 50.00 cr HDFC MF; Rs 88.02 cr Tata MF; Rs 0.68 cr cash.
• Total utilised Rs 839.09 crore; remaining unutilised Rs 138.70 crore.

Governance and compliance

• Deviation from objects: No.
• Approvals: Not explicitly stated in MAR; no material governance concerns reported.
• No material events or information that could affect viability noted.

General Corporate Purpose

• GCP amount allocated: Rs 227.79 crore; fully utilised by Mar 31, 2026.
• Board resolution on May 4, 2026 extended completion to FY2028.

Subject and initiative

• Announcement of Wockhardt Antibiotic Academy to tackle antimicrobial resistance.

Platform and access

• Open scientific learning platform accessible to registered medical fraternity across India.

Purpose and approach

• Aims to facilitate continuous medical education and exchange of knowledge among clinicians.

Disclosures

• No financial metrics disclosed in this release.

Financial highlights

• Revenue Rs 929 crore in Q1 FY27, up 26% YoY.
• PBT Rs 116 crore; prior year Rs -109 crore.
• PAT Rs 107 crore; prior year Rs -108 crore.
• EBITDA Rs 188 crore; margin 20.2%.
• EBITDA before R&D Rs 222 crore; margin 23.8%.
• R&D expense Rs 34 crore; 3.6% of sales.

Regional and product highlights

• Biotech operations at Rs 236 crore; 112% YoY growth.
• India Branded revenue Rs 156 crore; growth driven by diabetic therapy and EMROK NCE.
• Emerging Markets revenue Rs 263 crore; +64% YoY.
• UK revenue Rs 343 crore; +10% YoY.
• Ireland revenue Rs 64 crore; +28% YoY.

New product filings and approvals

• 12 filings, 9 approvals, 5 launches internationally.
• Biosimilars: 1 filing, 3 approvals; NCE: 1 filing, 2 approvals.
• Zaynich US FDA approval for cUTI including pyelonephritis.
• EMA review ongoing; dossier adequate for proposed indications.
• MIQNAF NAFITHROMYCIN approved and launched in India.
• FOVISCU India Phase 3 completed; NDA planned in Q3 FY27.
• EMROK/EMROK O: 29% YoY growth.

Regulatory and IP updates

• CDSCO Subject Expert Committee approved clinical data; full CMC approval expected by Q3 FY27.
• Intellectual property: 1 patent filed; total filings 3,291; 859 patents held.
• Patents filed in quarter: 1.
• Total filings to date: 3,291; patents held: 859.

Outlook and strategic developments

• Upcoming insulin analog launches planned over next few years.

Financial highlights

• Standalone revenue from operations ₹561 crore; total income ₹594 crore for quarter ended 30/06/2026.
• Standalone expenses ₹487 crore; materials ₹106cr, purchases ₹57cr, employee ₹85cr, finance ₹41cr, depreciation ₹41cr, other ₹155cr.
• PBT ₹107 crore; net profit after tax ₹107 crore.
• Basic EPS ₹6.62, diluted ₹6.61 for quarter ended 30/06/2026.
• Consolidated total income ₹960 crore; consolidated PAT ₹107 crore for quarter.
• Board approved unaudited standalone and consolidated results; limited review by MSKC & Associates LLP.
• Company operates exclusively in the pharmaceutical segment.
• Board meeting held on 10 August 2026.

Meeting Details

• Board meeting scheduled for 10 August 2026; time and venue not disclosed.

Key Agenda Items

• Unaudited standalone and consolidated financial results for quarter ended 30 June 2026 to be considered.

Other Notes

• Trading window closed from July 1, 2026, to 48 hours after results declaration on Aug 10, 2026.