ZIM Laboratories Limited has announced the appointment of Grant Thornton Bharat LLP as its internal auditor for a three-year term, marking a significant step in strengthening the company's governance framework. The appointment was approved during a board meeting held on March 30, 2026, following recommendations from the company's Audit Committee.

Board Meeting Details

The board meeting convened at 02:00 p.m. (IST) and concluded at 04:10 p.m. (IST) on March 30, 2026. The primary agenda focused on the appointment of the internal auditor in compliance with regulatory requirements.

Appointment Details

Grant Thornton Bharat LLP has been appointed as the internal auditor for a period of 3 years commencing from F.Y. 2026-27 to F.Y. 2028-29. The appointment aligns with Section 138 of the Companies Act, 2013, and follows the recommendations of the company's Audit Committee.

About Grant Thornton Bharat LLP

Grant Thornton Bharat LLP is a member of Grant Thornton International Ltd and operates as a leading professional services firm in India. The firm positions itself as a truly Indian firm with global connections, working with businesses and government across industries and sectors.

Regulatory Compliance

The appointment has been made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company has provided all required disclosures as mandated by the regulatory framework.

The appointment reflects ZIM Laboratories' commitment to maintaining robust internal audit mechanisms and ensuring compliance with corporate governance standards. The three-year term provides continuity and allows for comprehensive internal audit coverage across the organization's operations.

Zim laboratories has witnessed a significant increase in shareholding by investor Mathew Cyriac and his associated entities. The group has raised their collective stake to 19.34% from the previous holding of 11.84%, marking a substantial 7.50% increase in ownership through strategic acquisitions completed in March 2026.

Transaction Overview

The acquisition involved multiple entities acting in concert with Mathew Cyriac, including Elimath Advisors Pvt Ltd, Elizabeth Mathew, and Florintree Trinex LLP. The transactions were executed through both open market purchases and preferential allotment, demonstrating a coordinated investment strategy.

Shareholding Changes by Entity

The disclosure reveals complex inter-group transactions among the persons acting in concert:

Mathew Cyriac (Individual):

• Sold 66,07,781 shares (12.35%)
• Acquired 18,15,957 shares (3.39%)
• Net position: Reduction in direct holding

Elimath Advisors Pvt Ltd:

• Sold 6,76,121 shares (1.26%)
• Acquired 56,16,150 shares (10.50%)
• Net position: Significant increase

Elizabeth Mathew:

• Acquired 54,35,824 shares (10.16%)
• Sold 63,35,824 shares (11.84%)
• Net position: Marginal reduction

Florintree Trinex LLP:

• Acquired 47,64,497 shares (8.91%) through preferential allotment

Current Holdings and Capital Structure

Following the transactions, the group's total shareholding stands at 1,03,48,766 shares, representing 19.34% of the company's equity capital. The company's equity share capital increased from 4,87,35,814 shares to 5,35,00,311 shares, with a face value of Rs. 10 per share.

Regulatory Compliance

The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as the group's total shareholding exceeded the threshold requiring public disclosure. The group clarified that they do not belong to the promoter or promoter group category.

ZIM Laboratories' shares are listed on both BSE Limited and National Stock Exchange of India Limited. The disclosure was filed on March 17, 2026, from Mumbai, maintaining compliance with regulatory timelines and requirements.