OneSource Specialty Pharma Limited's Board of Directors has made strategic decisions regarding the progression of its composite scheme of arrangement and amalgamation. The board has determined to conduct additional review before approaching the National Company Law Tribunal (NCLT) for the proposed acquisition of Steriscience facilities in Poland and Baroda.

Composite Scheme Framework

The comprehensive merger involves multiple entities in a complex arrangement structure. The scheme encompasses the acquisition of Steriscience facilities and involves several key stakeholders working together in a merger by absorption framework.

Board Decision and Strategic Timeline

The board has decided to undertake a more comprehensive review process before proceeding with the NCLT application. This strategic decision reflects the company's commitment to thorough due diligence in the complex multi-jurisdictional acquisition process.

The company will complete this additional review within the six-month approval period that has been established. This timeline ensures adequate evaluation while maintaining progress momentum in the acquisition proceedings.

Regulatory Compliance Status

OneSource Specialty Pharma has maintained proper regulatory compliance throughout the process. The company had previously received in-principle approval from stock exchanges for the proposed scheme, establishing a solid foundation for the merger proceedings.

Future Acquisition Impact

The proposed acquisition of Steriscience's Poland and Baroda facilities represents a significant expansion opportunity for OneSource Specialty Pharma. Once completed, the integration will potentially enhance the company's manufacturing capabilities and strengthen its geographical presence in key markets.

The company has assured continued transparent communication with regulatory authorities and stakeholders regarding further developments in this acquisition process.

OneSource Specialty Pharma Limited has formally withdrawn its credit ratings from CareEdge Ratings as part of a strategic review of its external rating arrangements. The company announced this development to stock exchanges on March 05, 2026, under regulatory disclosure requirements.

Rating Withdrawal Details

CareEdge Ratings has reaffirmed and withdrawn outstanding ratings at the request of OneSource Specialty Pharma Limited . The rating action covers multiple facilities and instruments:

The rating agency specifically withdrew the outstanding rating assigned to the non-convertible debenture of ₹100 crore (ISIN: INE013P07010) as the instrument has been fully repaid by the company.

Existing Rating Framework

Despite the CareEdge withdrawal, OneSource Specialty Pharma maintains its credit rating relationship with India Ratings & Research. The company holds a rating of 'IND A- ; Positive' from India Ratings, which was reaffirmed in December 2025. This rating remains active and provides continued external assessment of the company's creditworthiness.

Business Profile and Recent Performance

OneSource Specialty Pharma operates as a fully integrated, multi-modality specialty pharmaceutical Contract Development and Manufacturing Organisation (CDMO). The company focuses on developing and manufacturing Drug Device Combinations (DDC), biologics, sterile injectables, and oral technologies including soft gelatin capsules.

The company's recent financial performance shows significant scale expansion following strategic mergers. In FY25, OneSource reported total operating income of ₹1,445 crore compared to ₹173 crore in FY24, reflecting the integration of acquired businesses. However, the company experienced some challenges in 9MFY26, reporting total operating income of ₹993 crore with an PBILDT margin of 21.37%.

Manufacturing Capabilities

OneSource operates five manufacturing facilities in Bengaluru with comprehensive regulatory accreditations. The facilities have approvals from major global regulatory bodies including USFDA, EMA, Health Canada, ANVISA, and other international agencies. The company has installed capacity to produce over 100 million injectable doses, 2.4 billion soft gelatin capsules, and 40 million cartridges for Drug Device Combinations.

Strategic Rationale

The company stated that the rating withdrawal is part of its periodic review and rationalisation of external credit ratings. This strategic decision allows OneSource to streamline its rating arrangements while maintaining necessary credit assessment through its relationship with India Ratings & Research. The withdrawal was executed with proper regulatory compliance, including obtaining No Objection Certificates from relevant lenders.

Source: None/Company/INE013P01021/481f8751-cbdd-4ab8-98bd-3bfc8ce9d566.pdf