Laurus Labs reported a significant decline in its export revenue performance during February 2026, with international sales dropping substantially compared to previous periods.

Export Performance Overview

The pharmaceutical company's export revenue decreased by 47% to $36 million in February 2026. This represents a considerable reduction in the company's international sales operations during the month.

Financial Impact

The substantial decrease in export revenue indicates challenges in Laurus Labs' international market operations. The 47% decline represents a significant reduction in overseas sales performance, which could impact the company's overall revenue composition for the period.

This export revenue decline reflects the company's international business performance during February 2026, marking a notable decrease from comparative periods in the pharmaceutical sector.

Laurus Labs Limited's Board of Directors has recommended a change in the company's statutory auditors, marking a significant corporate governance development. The recommendation was made during a board meeting held on March 12, 2026, following the Audit Committee's recommendation.

Board Recommendation Details

The board has recommended the appointment of S.R. Batliboi & Associates LLP, Chartered Accountants (ICAI Firm Registration No. 101049W/E300004) as the new statutory auditors. This appointment is subject to approval by the company's shareholders at the upcoming Annual General Meeting.

Transition from Current Auditors

Deloitte Haskins & Sells LLP (ICAI Firm Registration No. 117366W/W-100018) will continue as the company's statutory auditors until the conclusion of the 22nd Annual General Meeting to be held in 2027. By that time, Deloitte will have completed their second term as statutory auditors for the company.

The transition represents a planned change following the completion of the current auditors' tenure, ensuring continuity in the company's audit processes while bringing fresh perspective through the new appointment.

About S.R. Batliboi & Associates LLP

S.R. Batliboi & Associates LLP was incorporated in India in 1949 with its registered office in Kolkata and maintains offices across key cities in India. The firm operates as part of the S.R. Batliboi & Affiliates network, which includes several entities primarily engaged in providing audit and assurance services.

The network firms audit numerous large listed and private companies across diverse market segments, including:

• Pharmaceutical companies
• Industrial and Infrastructure sectors
• Consumer Products
• Financial Services
• Technology, Media and Entertainment
• Telecommunications
• Professional Services

Meeting and Approval Process

The board meeting commenced at 06.00 p.m. (IST) and concluded at 06.35 p.m. (IST) on March 12, 2026. The resolution relating to the appointment of S.R. Batliboi & Associates LLP will be proposed to shareholders for approval at the 22nd Annual General Meeting of the company to be held in 2027.

This appointment follows regulatory requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the company has provided all necessary disclosures as required under the applicable regulations and SEBI Master Circular guidelines.