Shilpa Medicare Limited has announced the retirement of Dr. Jayant Karajgi, Chief Operating Officer - Formulations, effective 22 April 2026. The pharmaceutical company made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Retirement

The company informed both BSE Limited and National Stock Exchange of India Ltd about this senior management change. Dr. Karajgi retired from the services of the company with effect from closing hours of 22 April 2026.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated 30th January 2026. Consequently, Dr. Karajgi also ceased to be a Senior Management Personnel of the company from the same date.

Company Information

Shilpa Medicare Limited, with CIN L85110KA1987PLC008739, operates from its corporate office in Raichur, Karnataka. The company's shares are listed on both NSE (SHILPAMED) and BSE (530549). The disclosure was signed by Ritu Tiwary, Company Secretary & Compliance Officer, and submitted to the stock exchanges for information and records.

Shilpa Medicare Limited has formally disclosed to stock exchanges that it does not qualify as a Large Corporate under the Securities and Exchange Board of India's regulatory framework for debt securities issuance. The pharmaceutical company submitted this initial disclosure on April 09, 2026, to both BSE Limited and the National Stock Exchange of India.

Regulatory Compliance Disclosure

The disclosure was made pursuant to SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, which relates to fund raising through the issuance of debt securities by large entities. The company confirmed its non-qualification status based on the applicability criteria outlined in the aforementioned circulars and their subsequent amendments.

Financial Position Details

The company provided specific details regarding its financial position and compliance status:

Key Compliance Confirmation

Shilpa Medicare Limited's outstanding long-term borrowing stands at nil as of March 31, 2025, as per the definition of borrowing provided in the SEBI circulars. This nil borrowing position is a key factor in the company's determination that it does not meet the Large Corporate criteria under the regulatory framework.

Credit Rating Status

Despite not qualifying as a Large Corporate, the company maintains a healthy credit profile with an A+ Positive Outlook rating from India Ratings & Research (Ind-Ra), which was the highest credit rating during the previous financial year.

Corporate Governance

The disclosure was signed by Ritu Tiwary, Company Secretary & Compliance Officer, and Alpesh Dalal, Chief Financial Officer, demonstrating proper corporate governance procedures. The company has formally requested both stock exchanges to take this information on record as part of its regulatory compliance obligations.