The Board of Directors of Lupin Limited, at its meeting held on Thursday, May 07, 2026, recommended the appointment of Deloitte Haskins & Sells Chartered Accountants LLP (Firm Registration No. 117364W/W100739) as the company's Statutory Auditors. The recommendation was made on the basis of the Audit Committee's suggestion and is subject to approval by the members of the company at the ensuing Annual General Meeting (AGM). The board meeting commenced at 01:45 p.m. (IST) and concluded at 07:25 p.m. (IST).

Change in Statutory Auditors

The transition in statutory audit firm has been necessitated by the completion of the maximum permissible tenure of the incumbent auditors. B S R & Co. LLP Chartered Accountants (Firm Reg. No. 101248W/W-100022), the existing Statutory Auditors, will be completing their second term of consecutive five years at the conclusion of the ensuing Forty-Fourth AGM to be held in 2026. In accordance with applicable regulations, the Board has recommended Deloitte Haskins & Sells Chartered Accountants LLP as the successor firm.

The key details of the proposed appointment are outlined below:

Profile of Incoming Statutory Auditor

Deloitte Haskins & Sells was constituted in 1997 and was subsequently converted to a Limited Liability Partnership (LLP), operating under the name Deloitte Haskins & Sells Chartered Accountants LLP with effect from June 02, 2021. The firm is registered with the Institute of Chartered Accountants of India (ICAI) under Registration No. 117364W/W100739 and is a part of Deloitte Haskins & Sells & Affiliates, being the Network of Firms registered with the ICAI. The registered office of the firm is located at 19th Floor, Shapath – V, S G Highway, Ahmedabad – 380 015, India.

Regulatory Disclosure

The intimation has been made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in accordance with the SEBI Master Circular dated January 30, 2026 (reference number HO/49/14/14(7)2025-CFD-POD2/I/3762/2026). The disclosure was signed by Amit Kumar Gupta, Company Secretary & Compliance Officer (ACS-15754) of Lupin Limited.

Lupin has announced a robust product strategy aimed at accelerating growth, with plans to launch over 20 products in FY27. The pharmaceutical major has stated its intention to outperform market growth through this expanded product pipeline, signaling a proactive approach to capturing incremental market share in the coming fiscal year.

Pipeline and Filing Targets

As part of its near-to-medium-term strategy, Lupin has set a target of 15 or more ANDA (Abbreviated New Drug Application) filings. ANDA filings are a critical indicator of a pharmaceutical company's pipeline strength in the US generics market, and this target underscores the company's commitment to sustaining a steady flow of regulatory submissions.

The following table summarizes the key strategic targets announced by the company:

Focus on Complex Generics and Biosimilars

Looking further ahead, Lupin has identified complex generics and biosimilars as key focus areas for the 2028-2031 period. These segments are widely regarded as higher-value, higher-barrier categories within the generics industry, requiring advanced manufacturing capabilities and specialized scientific expertise. By targeting these areas, the company is positioning itself to compete in segments that typically offer stronger pricing power and reduced competitive intensity compared to standard generics.

Biosimilars, in particular, represent a growing opportunity in global pharmaceutical markets as several high-value biologics face patent expiries in the coming years. Lupin's stated focus on this segment through 2031 indicates a long-term strategic commitment to building capabilities in this space.

Strategic Outlook

Lupin's multi-year roadmap — spanning product launches in FY27, near-term ANDA filings, and a longer-term pivot toward complex generics and biosimilars — reflects a layered growth strategy. The company's plan to outperform market growth through over 20 product launches in FY27 sets a near-term benchmark, while the 2028-2031 focus on complex generics and biosimilars establishes a longer-horizon ambition. Together, these targets outline a comprehensive approach to sustaining and expanding the company's competitive positioning across geographies and product categories.