Morepen Laboratories Limited has elevated Sanjay Suri from Whole-time Director to Managing Director effective July 1, 2026. The Board of Directors approved this elevation on June 30, 2026, covering the balance tenure of his existing term ending August 12, 2028, subject to member approval within statutory timelines. This leadership change is intended to strengthen the company's management structure as it leverages over 40 years of operational history.

Consequent upon his elevation, Sanjay Suri will jointly oversee the management and operations of the company with Sushil Suri, Chairman & Managing Director. Their roles and responsibilities will be clearly defined and aligned to their respective areas of expertise to ensure streamlined governance and strategic execution.

The decision follows a recommendation by the Nomination and Remuneration Committee. Sanjay Suri brings over three decades of experience in the pharmaceuticals industry, with expertise spanning international sales and marketing, joint ventures, and statutory regulatory approvals including USFDA. His background also encompasses strategic planning, manufacturing operations, finance, accounts, and banking.

Sanjay Suri is a member of the promoter group and the brother of Sushil Suri. The company confirmed that he is not debarred from holding the office of Managing Director by any order passed by SEBI or other authorities. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Appointment Details

Morepen Laboratories Limited reported a strong performance in Q4 FY26, with net profit rising 69% year-on-year to ₹20 crore and gross revenue increasing 22% to ₹472 crore. Revenue growth was driven by export momentum and expansion in the Medical Devices business. The Board of Directors recommended a final dividend of 10% for FY26, subject to shareholder approval. The company also commenced commercial production under a multi-year global CDMO mandate worth ₹825 crore received in February 2026.

Quarterly and Annual Highlights

The company’s operational metrics showed significant improvement during the quarter. The API business grew 17%, while the Medical Devices business expanded 31% in Q4 FY26. For the full year, standalone gross revenue crossed ₹1,700 crore, an 8% increase. EBITDA stood at ₹32 crore in Q4 FY26 compared to ₹33 crore in the previous year, reflecting investments in manufacturing scale-up and regulated-market programs. A fourth consecutive USFDA inspection was completed with NIL 483 observations.

Strategic Developments

Backed by the ₹825 crore global CDMO mandate, Morepen has completed validation batches and aligned initial supply schedules for phased delivery. The company is expanding manufacturing capacity from ~500 KL toward ~800 KL, with a longer-term roadmap targeting ~1000 KL. Additionally, a pivotal bioequivalence study for Resmetirom 100 mg, used in treating liver fibrosis associated with MASH, was completed for major regulated markets outside the US.

Business Segments

The Medical Devices business continued to scale, with FY26 revenue growing 21% to ₹598 crore and an installed base of nearly 17 million repeat users. The platform is being developed as a separate high-growth healthcare business focused on chronic care and consumer diagnostics. Strategic investments across manufacturing, devices expansion, and healthcare platforms are expected to support operating leverage and margin expansion over the medium term.