Novelix Pharmaceuticals appointed Mr. Gnana Prakash Gattu as Whole Time Director for a five-year term, effective August 29, 2026. The Board approved the move during its meeting on that date, pending shareholder ratification at the upcoming Annual General Meeting.

The appointment was formalized in a filing to BSE Limited on August 31, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was signed by Venkateshwarlu Pulluru, the company’s existing Whole-time Director.

Appointment Details

Mr. Gattu (DIN: 00517921) joins the management team with immediate effect from August 29, 2026. His tenure is fixed for five years, subject to approval by members at the ensuing AGM.

Key details of the appointment include:

• Profile: Graduate from IIT-Chennai with over 25 years of experience in management and information technology.
• Relationship: Belongs to the Promoters and Promoter group. Not related to any other Directors or Key Managerial Personnel.
• Other Directorships: Holds no directorship in other listed entities.
• Regulatory Status: Not debarred from holding office by SEBI or any other authority.

AGM and Corporate Governance

The 32nd AGM remains scheduled for Wednesday, September 30, 2026, at 3:00 pm via Video Conferencing or Other Audio Visual Means (OAVM). This meeting will serve as the forum for shareholders to approve Mr. Gattu’s appointment.

Logistical details for shareholders remain unchanged:

• Register Closure: September 24, 2026, to September 30, 2026.
• Voting Cut-off: September 23, 2026.
• Scrutinizer: M/s. Bharat Khaniwal & Co., Practicing Company Secretary (Membership No.: A29085).

The Board also approved the financial results and Board Report for FY26 during the August 29 meeting, which concluded at 4:55 pm.

Novelix Pharmaceuticals Ltd has entered into a land lease agreement to expand its operational footprint into microalgae cultivation. The company executed the lease deed on August 19, 2026, with Mr. Gnana Prakash Gattu, a non-executive director and member of the promoter group, to develop facilities and install glass reactor systems.

The transaction involves leasing approximately 0.925 acres (37 guntas) of land located at Survey No. 917/6A, Markook Village, near Gajwel in Siddipet District, Telangana. The lease term is set for five years, commencing from August 19, 2026. This move aligns with the company’s strategic initiative to diversify its production capabilities through specialized biological cultivation methods.

Transaction Details

The lease structure includes specific financial terms and escalation clauses designed to manage long-term occupancy costs. The arrangement is classified as a related-party transaction but was conducted on an arm’s length basis, as confirmed by the company’s disclosure under SEBI Listing Regulations.

Regulatory Disclosure

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company cited SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, as the regulatory framework for this intimation. Venkateshwarlu Pulluru, Whole-time Director of Novelix Pharmaceuticals Ltd, signed the disclosure on August 20, 2026.

What the Numbers Show

The fixed monthly rent of ₹5,000 represents a minimal direct cash outflow for the initial phase of the project. With an escalation clause of only 5% every three years, the cost structure remains highly predictable over the five-year tenure. This low-cost entry point allows the company to test the viability of microalgae cultivation and glass reactor installations without significant upfront capital expenditure on land acquisition, shifting the risk profile towards operational execution rather than asset ownership.