Aspira Pathlab & Diagnostics Limited has announced the demise of its Independent Director Dr. Alaka Keshav Deshpande, who passed away on December 30, 2025, at the age of 79. The company informed BSE Limited about this development under Regulation 30 of SEBI (LODR) Regulations, 2015.

Board Leadership Changes

Dr. Deshpande's death has resulted in her cessation from the office of Independent Director effective from December 30, 2025. The company described her sudden and unexpected demise as an irreparable loss to the organization.

The following table outlines the key details of the directorship change:

Committee Memberships Affected

Dr. Deshpande's demise has also resulted in the cessation of her membership in multiple board committees. She served as a member of three critical committees that oversee various aspects of corporate governance.

Her committee positions included:

• Audit Committee - Member
• Nomination & Remuneration Committee - Member
• Stakeholder Relationship Committee - Member

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing the stock exchange as required under SEBI regulations. According to the filing, Dr. Deshpande did not hold directorships in any other listed entities at the time of her demise.

Company Secretary & Compliance Officer Krupali Shah signed the regulatory filing submitted to BSE Limited. The company's scrip code is 540788 and trades under the security ID ASPIRA.

Corporate Response

All directors and employees of Aspira Pathlab & Diagnostics Limited have conveyed deep condolences to Dr. Deshpande's family during this difficult time. The company acknowledged her contributions and the significant impact her loss will have on the organization's leadership structure.

Aspira Pathlab Diagnostics Limited has reported a significant financial setback in its recent quarterly results while simultaneously announcing changes to its board of directors.

Financial Performance

The company disclosed a net loss of ₹230.49 lakhs for the quarter ended September 30. This marks a substantial decline from the profit of ₹97.36 lakhs reported in the corresponding period of the previous year. The stark contrast in financial performance underscores the challenges faced by the diagnostic services provider during this period.

Board Appointment

In a strategic move to strengthen its governance structure, Aspira Pathlab's board has approved the appointment of Mrs. Kiran Raghavendra Awasthi as an Additional Independent Director. The appointment, effective from November 12, is for a term of five years, subject to shareholder approval at the upcoming general meeting.

New Director Profile

Mrs. Awasthi brings a wealth of experience to the board:

The company emphasized that Mrs. Awasthi is not related to any other Director or Key Managerial Personnel of Aspira Pathlab Diagnostics Limited, ensuring independence in her role.

Business Acquisition

In a move that could impact its future financial statements, Aspira Pathlab Diagnostics acquired the business undertaking of Aspira DNA Diagnostics Gujarat LLP for ₹13.00 lakhs, effective from June 30. Following this acquisition, the LLP ceased operations and is in the process of winding up. As a result, the company reported having no subsidiaries, associates, or joint ventures as of September 30.

Outlook

The appointment of Mrs. Awasthi, with her extensive experience in finance and taxation, may be seen as a strategic step to navigate the company through its current financial challenges. However, the significant swing from profit to loss in the quarter raises questions about the company's operational performance and market conditions in the diagnostic services sector.

Investors and stakeholders will likely be watching closely to see how these developments impact Aspira Pathlab Diagnostics' future performance and strategic direction.