MPS Pharmaa Limited has announced the scheduling of a separate meeting of Independent Directors in compliance with regulatory requirements. The pharmaceutical company, formerly known as Advik Laboratories Limited, issued the notice on March 16, 2026, informing stock exchanges about this important governance meeting.

Meeting Details and Regulatory Compliance

The Independent Directors meeting has been scheduled under the provisions of Regulation 25(3) of the Securities and Exchange Board of India (LODR) Regulations, 2015, and Schedule IV of the Companies Act, 2013. The meeting will be held on Wednesday, March 25, 2026, at 11:00 A.M. at the company's corporate office located at 703, Arunachal Building, 19, Barakhamba Road, Connaught Place, New Delhi-110001.

Agenda Items for Discussion

The Independent Directors will convene to address two critical governance matters during their separate meeting:

• Review the performance of non-Independent Directors and the Board as a whole
• Assess the quality, quantity, and timeliness of information flow between company management and the Board

These agenda items are designed to ensure that the Board can effectively and reasonably perform their duties in the best interests of shareholders and stakeholders.

Corporate Information

MPS Pharmaa Limited operates under CIN No. L74899HR1994PLC038300 and maintains its corporate office in New Delhi while its registered office and factory are located at 138, Roz-Ka-Meo Industrial Area, Sohna, Haryana. The company secretary Pooja Chuni signed the notice digitally on March 16, 2026, ensuring proper documentation and compliance with regulatory requirements.

Stock Exchange Notification

The company has duly informed both BSE Limited and Ahmedabad Stock Exchange Limited about the scheduled meeting. This notification ensures transparency and keeps all stakeholders informed about the company's governance activities as required under listing regulations.

MPS Pharmaa Limited has formally disclosed its Board of Directors' approval for workforce retrenchment as part of its strategic business diversification into natural healthcare products. The company submitted its disclosure under Regulation 30 of SEBI regulations following the Board meeting held on March 03, 2026.

Board Meeting and Regulatory Disclosure

The Board of Directors convened on March 03, 2026, from 04:00 P.M. to 05:45 P.M. at the company's corporate office located at 703, Arunachal Building, 19, Barakhamba Road, Connaught Place, New Delhi. The meeting focused on workforce rationalization aligned with the company's future business plans and operational requirements for manufacturing Ayurvedic, Unani and Homeopathic medicines, drugs and Nutraceutical products.

Workforce Retrenchment Specifications

The company has provided detailed information about the workforce reduction in its regulatory filing. The retrenchment affects factory workers at the manufacturing facility as the company transitions to specialized natural healthcare product manufacturing.

Strategic Business Diversification

The management is planning to commence new business operations in manufacturing Ayurvedic, Unani and Homeopathic medicines, drugs and Nutraceutical products, responding to evolving market trends and increasing consumer demand for natural healthcare solutions. The company had previously communicated its diversification plans through a letter dated September 02, 2025.

The proposed new line of business activities will require a specialized workforce possessing requisite technical qualifications, domain expertise and operational capabilities necessary to establish and manage the renewed business operations.

Legal Compliance Framework

MPS Pharmaa Limited has emphasized strict adherence to regulatory requirements throughout the retrenchment process. The company is conducting the workforce reduction in compliance with applicable provisions of The Industrial Relations Code, 2020 and other relevant labour laws. All statutory dues, compensation and benefits payable to the affected workers are being settled in accordance with applicable regulations.

The company has committed to keeping the Stock Exchange informed of any further material developments related to the proposed business activities as the diversification plan progresses.