Lords Mark Industries Limited has commenced operations at its new state-of-the-art In Vitro Diagnostics (IVD) manufacturing facility in Vasai (East), Maharashtra. The unit, measuring approximately 14,000 sq. ft., became operational two months ahead of its originally scheduled August 2026 timeline. This development increases the company's total operational manufacturing footprint from 20,000 sq. ft. to 34,000 sq. ft., significantly boosting its production capabilities in the diagnostics sector.

Manufacturing Capacity and Product Portfolio

The new facility is designed to manufacture a portfolio of 56 ELISA test kits alongside a new range of rapid diagnostic test kits. The enhanced capacity is intended to improve operational efficiency and support increasing market demand. The company has outlined that this expansion will strengthen its position in the diagnostics sector by catering to broader healthcare needs.

The following table summarises the key details of the new facility:

Research and Development Initiatives

The Research & Development division within the new facility has been dedicated to the memory of Late Shri Ratan Tata. This division will focus on indigenous molecular biology research and genetic science initiatives aimed at strengthening domestic scientific capabilities. The company's management emphasized that this move aligns with its commitment to building world-class healthcare infrastructure within India.

Future Expansion Plans

As part of its long-term growth strategy, Lords Mark Industries Limited has planned the establishment of a third facility at Vasai, Maharashtra. This proposed unit will be dedicated to research for early cancer detection and will be named in honour of the Late Dr. A.P.J. Abdul Kalam. The company expects this facility to commence operations from January 2029. Additionally, the firm has outlined a vision to establish one of the world's largest medical device manufacturing facilities in India, focusing on AI-enabled and imaging-based diagnostic devices.

Mr. Sachidanand Upadhyay, Managing Director of Lords Mark Industries Limited, stated that the milestone is guided by the conviction that world-class healthcare must be built in India, for India and the world. He highlighted the company's focus on indigenous science, earlier cancer detection, and accessible diagnostic devices.

Lord's Mark Industries Limited has agreed to issue 10,28,483 equity shares to Bennett Coleman and Co. Ltd. at a conversion price of ₹158 per share. This follows an order passed by the Hon'ble High Court of Delhi on June 1, 2026, in the matter of Bennett Coleman and Co. Ltd. vs. Lord's Mark Industries Limited & Ors. The issuance stems from a Share Cum Warrant Subscription Agreement dated August 1, 2023, and resolves a dispute concerning the conversion of warrants subscribed by Bennett Coleman and Co. Ltd. (BCCL).

The petition under Section 9 of the Arbitration and Conciliation Act, 1996, was filed by BCCL seeking interim reliefs related to the conversion of warrants and the proposed listing of the company's equity shares. During the hearing, Lord's Mark Industries informed the court of its intention to issue the shares as per the agreement. Consequently, the petition was dismissed as withdrawn and disposed of, with no adverse order passed against the company.

Background of the Dispute

The dispute arose due to the pendency of the listing and trading process, which legally prevented Lord's Mark Industries from converting the warrants and issuing equity shares to BCCL. BCCL had subscribed to 1 equity share and 5 convertible warrants under the agreement, paying a subscription amount of ₹1.30 crore for warrants and ₹150 for one equity share. The warrants carried an aggregate value of ₹13 crore at the agreed conversion price of ₹158 per share.

Resolution and Compliance

In a communication dated May 30, 2026, addressed to BCCL and submitted to the court, Lord's Mark Industries confirmed and acknowledged BCCL's entitlement to the equity shares. The company agreed to comply with all obligations arising out of the Share Cum Warrant Subscription Agreement and the communication. Lord's Mark Industries further undertook to intimate and provide documents related to the agreement to the Chairman of the Monitoring Committee supervising the implementation of the Resolution Plan within three days of the disposal of the petition.

The company also ensured that BCCL's rights, entitlements, and interests would be disclosed to the members of the Monitoring Committee. The Chairman was tasked with undertaking all incidental actions regarding disclosures and filings with statutory authorities. The resolution allows for the amicable settlement of the matter, with BCCL withdrawing the petition in light of the company's commitments.