Sudarshan Pharma Industries Limited has revised the fixed exchange rate for its Foreign Currency Convertible Bonds (FCCB) issuance. The rate has been updated to ₹96.8441 per US Dollar (USD), up from the previously disclosed ₹95.93. This adjustment aligns with the RBI reference rate prevailing on the date of the subscription agreement between the company and the bondholders.

Revised Allotment Details

The company’s board had previously approved the issuance of FCCBs worth up to USD 20 million in one or more tranches. The bonds carry a coupon rate of 8% per annum and are due for maturity three years and two months from the date of being fully paid-up. The revised terms were communicated to the stock exchanges in compliance with SEBI regulations.

The following table summarises the key parameters of the issuance:

Regulatory Compliance and Approvals

The revision follows the company’s disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The issuance is based on shareholder consent obtained on August 11, 2025, and in-principle approval from BSE Limited dated September 26, 2025. The board has authorized Mr. Hemal Vasantra Mehta, Chairman & Managing Director, and Mr. Sachin Vasantra Mehta, Joint Managing Director, to complete the necessary formalities.

Sudarshan Pharma Industries Limited has disclosed the resignation of Sachin Vasantrai Mehta from the position of Chief Financial Officer (CFO), effective May 1, 2026. The development was formally communicated to BSE Limited by the company's Company Secretary and Compliance Officer, Nirav Shah, on May 8, 2026, in response to a query raised by the exchange on May 2, 2026, seeking additional details regarding the corporate announcement filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

CFO Resignation: Key Details

The resignation letter, dated April 27, 2026, was submitted by Sachin Vasantrai Mehta to the Board of Directors of Sudarshan Pharma Industries Limited. In his letter, Mehta tendered his resignation as CFO with effect from May 1, 2026. The company had originally filed the corporate announcement pertaining to this resignation on May 1, 2026, vide company letter no. SPIL/CS/SE/2026-2027/08 dated April 30, 2026.

The following table summarises the key details of the resignation:

Reason for Resignation and Continuing Role

In his resignation letter addressed to the Board of Directors, Mehta stated that there are no other material reasons beyond those provided for his resignation as Chief Financial Officer. Notably, Mehta clarified that he will continue to serve the company as Joint Managing Director, indicating that his association with Sudarshan Pharma Industries Limited remains intact in an executive capacity.

Mehta also expressed gratitude to his colleagues on the Board for the cooperation extended during his tenure as CFO, and requested the company to complete all necessary regulatory filings with the Stock Exchanges, Ministry of Corporate Affairs, Registrar of Companies, and all other relevant authorities.

Regulatory Compliance

The disclosure was made by Nirav Shah, Company Secretary and Compliance Officer of Sudarshan Pharma Industries Limited, in accordance with the requirements under Regulation 30 of SEBI (LODR) Regulations, 2015. The company submitted the detailed resignation letter as an enclosure to its reply, fulfilling the additional disclosure requirement sought by BSE Limited.