Lactose (India) Limited successfully conducted its Extra Ordinary General Meeting (EOGM) on March 28, 2026, securing overwhelming shareholder approval for the scheme of amalgamation with Vitanosh Ingredients Private Limited (VIPL). The meeting, held through video conferencing from 10:30 AM to 10:51 AM, achieved remarkable voting results with 99.99% votes in favor of the merger resolution.

EGM Proceedings and Participation

The meeting was conducted in accordance with circulars issued by the Ministry of Corporate Affairs and SEBI, with comprehensive e-voting facilities provided to shareholders. Remote e-voting was available from March 25, 2026, at 09:00 AM to March 27, 2026, at 05:00 PM, with additional e-voting facility remaining active throughout the EGM proceedings.

Voting Results and Shareholder Response

The special resolution for the merger scheme received exceptional support from shareholders across all categories. Out of 12,589,000 total shares, 5,919,674 votes were polled, representing 47.02% participation. The voting breakdown demonstrates strong confidence in the merger strategy.

Official Scrutinizer Report and Regulatory Compliance

Arjun Lakhanpal, appointed as scrutinizer by the National Company Law Tribunal, Ahmedabad Bench, submitted comprehensive reports confirming the voting results. The scrutinizer report details that Bigshare Services Private Limited served as the e-voting agency, with votes unblocked on March 28, 2026 at 11:17 AM in the presence of witnesses Mr. Vishal Kotecha and Mr. Raimeen Maradiya.

Merger Impact and Shareholding Changes

The approved merger will result in significant changes to the company's shareholding structure, with promoter shareholding increasing from 53.65% to 58.84%. Under the merger terms, VIPL shareholders will receive 0.7946 equity shares of Lactose (India) Limited for every 1 fully paid-up equity share of VIPL.

Financial Performance and Strategic Benefits

The merger combines two entities with contrasting financial profiles. Lactose (India) Limited demonstrates strong operational performance with revenue of ₹11,639.93 lakhs and profit after tax of ₹516.29 lakhs for March 2025, while VIPL reported revenue of ₹34.69 lakhs but incurred losses of ₹195.57 lakhs during the same period. The merger will expand production capacity from 10,000 MT per annum to 15,000 MT per annum, providing immediate capacity enhancement and an expanded product portfolio including high-margin Inhalation Grade Lactose.

Next Steps and Regulatory Approval

The voting results have been disclosed to BSE Limited under Regulation 30 and 44(3) of the Listing Regulations. Company Secretary Ritesh Pandey has reported the successful EGM results to the Hon'ble National Company Law Tribunal, Ahmedabad Bench, representing a crucial milestone toward final regulatory approval of the amalgamation scheme. The comprehensive documentation and overwhelming shareholder support position the merger for smooth regulatory clearance.

Lactose (India) Limited has announced the adoption of a new business line in specialized pharmaceutical excipients, marking a strategic expansion into value-added products. The company disclosed this development to BSE Limited under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

New Business Line Details

The company has expanded into value-added pharmaceutical excipients, specifically specialized grades of pharmaceutical lactose, which fall under the pharmaceutical and healthcare raw materials/excipients industry. This strategic move represents a significant shift towards higher-value products in the pharmaceutical sector.

Expected Benefits and Strategic Rationale

The expansion is expected to deliver multiple strategic advantages for the company:

• Expansion of the company's value-added product portfolio
• Reduction in dependence on imported specialized lactose products
• Improved margin profile compared to regular pharma grade lactose
• Strengthening of long-term relationships with pharmaceutical customers
• Complete product basket enabling customer retention and reduced import dependency

The expansion aligns with the company's strategy to move up the value chain, cater to specialized pharmaceutical requirements, and support domestic manufacturing under import substitution initiatives.

Product Portfolio Launch

Lactose India has successfully developed and launched four specialized pharmaceutical excipient products:

Market Deployment and Timeline

The company has successfully completed internal development and trial runs of all products. Selective supplies to customers have commenced, following customer-specific validation and acceptance requirements. The products are primarily intended for the domestic pharmaceutical market, though the company may explore international markets subject to commercial feasibility and applicable regulatory requirements.

This development represents Lactose India's commitment to expanding its specialized product offerings and reducing India's dependence on imported pharmaceutical excipients while strengthening its position in the domestic pharmaceutical supply chain.