Mankind Pharma announced that Mr. Bharat Anand has ceased to be an Independent Director effective August 30, 2026. The departure follows the completion of his second term in office.

Mr. Anand, identified by DIN 02806475, also stepped down from membership in four key Board Committees. These include the Audit Committee, Nomination and Remuneration Committee, Risk Management Committee, and Corporate Social Responsibility Committee.

Regulatory Disclosure

The company issued the intimation under Regulation 30 and Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Hitesh Kumar Jain, Company Secretary and Compliance Officer, signed the disclosure. The Board expressed appreciation for Mr. Anand’s contribution during his tenure.

Mankind Pharma has approved the voluntary liquidation of its material wholly owned subsidiary, Bharat Serums and Vaccines Limited (BSVL). The board meeting held on August 26, 2026, also consented to the expeditious consolidation of BSVL’s business with the parent company.

Board decision on Bharat Serums and Vaccines

The board of Mankind Pharma consented to wind down BSVL through a voluntary liquidation process. The company holds 96% of BSVL shares directly, while its wholly owned subsidiary Appian Properties Private Limited holds the remaining 4%.

The winding down represents a significant step in Mankind Pharma's corporate structure. The business of BSVL will be distributed to Mankind Pharma on a going concern basis immediately upon receipt of necessary approvals, licenses, and permits. Appian Properties will receive cash proportionate to its shareholding, equivalent to 4% of the fair value of BSVL as determined by an independent valuer.

Rationale for restructuring

The voluntary liquidation aims to drive operational efficiency and effective utilization of resources currently managed through two separate legal entities. Key benefits include:

• Consolidation of material business within the parent company
• Improved organizational execution capability and therapy leadership through pooling of human capital
• Enhanced cash management, reduced compliance requirements, and rationalization of expenses

The process will be undertaken by a liquidator appointed by BSVL, subject to compliance with the Insolvency and Bankruptcy Code, 2016, and the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017. There will be no change in the shareholding pattern of Mankind Pharma following the dissolution of BSVL.