Wockhardt Ltd

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.

Overview

• Standalone BRSR for India operations; FY2025-26 reporting period.
• Main activities: pharmaceuticals and chemicals; 81% manufacturing, 19% wholesale.
• Exports ~56.9% of turnover; serves 49 international markets.
• Operations: 8 national plants, 2 offices; 4 international plants, 17 offices.
• Assurance: SGS India provided reasonable assurance on BRSR Core.

Key ESG Risks & Opportunities

• Ethical governance opportunity; strong code of conduct and anti-bribery policies.
• Data privacy risk; mitigated by privacy policy and information security controls.
• Digital transformation opportunity; AI, RPA, automation across processes.
• Pricing regulations risk; potential profitability impact; emphasis on regulatory compliance.
• Supply chain disruptions risk; robust vendor onboarding and diversification.
• Product quality & safety risk; pharmacovigilance and quality programs.

Governance & Policy Highlights

• CSR Committee oversees ESG; Audit Committee reviews compliance.
• Policies include Code of Conduct, whistleblower, and anti-bribery; board-approved.
• Anti-bribery policy publicly accessible on company website.
• GST penalty of ₹28.08 lakh for FY2019-20; settlement noted.
• SGS assurance provided on BRSR Core and GHG inventory.

Social Responsibility & Workforce

• Total workforce 3,603; permanent 2,552; workers 481; female share 9.02%.
• Board female representation 22.22%; KMP female 25%.
• Turnover: permanent staff 61.32%; permanent workers 22.03% (FY25-26).
• Well-being spend 0.31% of revenue; training covers ESG, POSH, privacy, cyber.
• LTIFR: no incidents; no fatalities reported.

Environmental Performance

• Total energy 504,887 GJ; renewables 36.5% (184,134 GJ).
• GHG emissions: Scope1 10,430.89; Scope2 49,637.06; Scope3 10,319.93 tCO2e.
• Energy intensity: 0.000029 GJ/₹; PPP-adjusted 590.64 GJ/Mn USD.
• Water withdrawal 810,049 kL; consumption 406,722 kL; intensity 0.000023 KL/₹.
• Waste generated 1,931.45 t; recycled 939.08 t; disposed 950.39 t.

Stakeholder Engagement & Complaints

• Stakeholders: shareholders/investors, vendors, customers, employees, government, communities, value chain partners.
• Investors: quarterly engagement; others on need basis; CSR updates to Board annually.
• Shareholder complaints: 8 filed in FY25-26; resolved within statutory timelines.
• Customer complaints: 3 filed; CAPA implemented; issue closed.
• Stakeholder grievance policy available on company website.

Other Notable Metrics

• Input material from MSMEs: 29.52% of total purchases; 29.69% from India.
• Purchases from top 10 trading houses: 87.93% of trading-house purchases.
• Related-party transactions: purchases 2.94% of total; sales 22.28% of totals.
• Affiliations: FICCI, IPA, CII, BCCI.
• Data privacy/cybersecurity: no data breaches; 24x7 SOC and robust policies.

Key AGM details and resolutions

• Date/time: 10 August 2026, 3:30 pm IST; mode: VC/OAVM.
• E-voting: cut-off 3 August 2026; window 7–9 August 2026.
• Adoption of audited standalone and consolidated financial statements.
• Re-appointment of Zahabiya Khorakiwala as Director retiring by rotation.
• Ratification of remuneration payable to Cost Auditors for FY2026-27.
• Revision of Executive Chairman remuneration up to ₹15 crore for 2027–2030.
• RPT with Wockhardt Bio AG up to ₹1,000 crore.
• RPT between Wockhardt Bio AG and Wockhardt UK Limited up to ₹550 crore.
• Capital raise via offerings including QIP up to ₹3,000 crore.
• Dividend: No dividend proposed/declared for FY 2025-26.