Zydus Lifesciences Independent Director Apurva S. Diwanji Ceases Post Upon Tenure Completion

Zydus Lifesciences Limited has informed the stock exchanges that Mr. Apurva S. Diwanji (DIN: 00032072) has ceased to serve as Director, including in his capacity as Independent Director, effective Tuesday, May 12, 2026. The cessation follows the completion of his tenure and has been disclosed pursuant to Regulation 30 read with Clause 7 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular dated January 30, 2026.

Director Cessation Details

The company filed the requisite disclosure with BSE Limited and the National Stock Exchange of India Limited on May 13, 2026. The key details of the change, as per the SEBI Master Circular, are outlined below:

Parameter:	Details
Name of Director:	Mr. Apurva S. Diwanji (DIN: 00032072)
Reason for Cessation:	Ceased as Director (including as Independent Director) consequent upon completion of tenure
Date of Cessation:	Effective Tuesday, May 12, 2026
Relationship with Directors/KMP:	Not Applicable

Company's Acknowledgement

Zydus Lifesciences placed on record its sincere appreciation for the valuable contributions made by Mr. Diwanji during his tenure. The company also expressed gratitude for his dedication, integrity, and professional expertise, which enriched its deliberations and decision-making processes. The disclosure was signed by Dhaval N. Soni, Company Secretary and Compliance Officer (Membership No. FCS7063), on May 13, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.60%	-3.36%	+4.91%	+15.61%	+10.83%	+71.12%

Zydus Lifesciences Limited has received an Appeal Order from the Appellate Authority, Central Goods and Services Tax Appeals Commissionerate, Chandigarh, regarding a GST audit dispute. The order, received on May 11, 2026, upholds the previously imposed demand and penalty. The company had initially informed the exchanges about a Demand Order-In-Original on January 25, 2025, which pertained to issues arising from a GST audit for the period between July 2017 and March 2021.

Details of the Appeal Order

The Appeal Order was passed under section 107 of the CGST Act, 2017. It confirms the demand of Rs. 1.71 million and the penalty of Rs. 10.12 million. The authority alleged that the company availed excess or wrongful input tax credit. The table below summarizes the key details of the order:

Sr. No.	Particulars	Details
1.	Name of the authority	Appellate Authority, Central Goods and Services Tax Appeals Commissionerate, Chandigarh
2.	Nature of action	Appeal Order passed under section 107 of CGST Act, 2017 for demand and penalty
3.	Date of receipt	14:24 p.m. on May 11, 2026
4.	Violation details	Alleged excess / wrongful input tax credit availed by the Company
5.	Financial impact	The Company intends to file second appeal before GSTAT. No material financial impact.

Company Response and Future Action

In response to the order, Zydus Lifesciences stated that it intends to file a second appeal against the Appeal Order before the Goods and Services Tax Appellate Tribunal (GSTAT). The company clarified that there is no material financial impact on its operations resulting from this order. The disclosure regarding the appeal was submitted with a delay, which the company attributed to the concerned person being on medical leave.