Please find enclosed herewith a copy of 45th Annual Report of the Company for the Financial Year ended March 31, 2026.

Date: 01/09/2026 BSE Limited, Corporate Relationship Department 25th Floor, Phirozee Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Scrip Code: 538964 Subject: Submission of 45th Annual Report for the Financial Year 2025-26 under Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 Dear Sir/Madam, With reference to the captioned subject, we are submitting herewith the 45th Integrated Annual Report of the Company and Notice of 45th Annual General Meeting (AGM) for the financial year 2025-26, which is being sent to the shareholders by electronic mode who have registered their e-mail addresses with the depositories. Further pursuant to Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a letter including the exact path, where complete details of the Annual Report & Notice of AGM are available is being sent to those Members whose email addresses are not registered with the Company/Depositories. The 45th Annual General Meeting (‘AGM’) of the Company would be held on Monday, September 28, 2026 at 11:30 am (IST) through Video Conferencing (‘VC’)/Other Audio-Visual Means (‘OAVM’) in compliance with the applicable circulars issued by Ministry of Corporate Affairs (‘MCA’) and Securities and Exchange Board of India (‘SEBI’). The schedule of AGM is set out below: Event Date Relevant Date/cut-off date to vote on AGM September 21, 2026 resolution Closure of register of members and share transfer From September 22, 2026 to September 28, 2026 (both day books for the purpose of Final Dividend and 45th inclusive) AGM of the Company Commencement of E-voting From 9:00 a.m. (IST) on Thursday, September 24, 2026 End of E-voting At 5:00 p.m. (IST) on Sunday, September 27, 2026 The Notice of the 45th AGM and the Annual Report are also being uploaded on the website of the Company at www.mercurylabs.com Kindly take the above information on your record. Thanking you, Yours faithfully, For Mercury Laboratories Limited Krishna Shah Company Secretary & Compliance Officer Encl.: As above Dedicated to Mother & Child Healthcare Health Care Since 1962 WHERE YOUR WELL BEING MATTERS ₹ 7,593.67 ₹ 483.40 ₹ 2,472.32 500+ 44+ 2 LAKHS LAKHS LAKHS DEDICATED YEARS OF TRUST MANUFACTURING EMPLOYEES AND EXCELLENCE FACILITIES REVENUE FROM NET PROFIT AFTER DIRECT EXPORTS OPERATIONS TAX(BEFORE OCI) (+18.69% YoY) MANUFACTURING INNOVATION QUALITY GLOBAL REACH PEOPLE SUSTAINABILITY EXCELLENCE Continuous investment Adherence to global State-of-the-art Strengthening our Empowering our Committed to in research and standards and facilities with advanced presence in global people to grow, responsible practices technology to develop robust quality infrastructure and markets with reliable innovate and for a healthier planet quality formulations. systems. capacity expansion. and trusted products. make a difference. and community. 45TH Annual Report 2025 - 26 I 1 FINANCIALS REVENUE FROM OPERATION HIGHLIGHT’S 8000.00 7533.37 7,555.90 7510.12 7,593.67 7000.00 6860.15 6000.00 5240.46 5552.1 5726.91 5792.38 5000.00 4000.00 3000.00 2000.00 1000.00 EBIT (EARNINGS BEFORE INTEREST & TAX) 0.00 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 800.00 790.89 780.65 730.33 757.69 700.00 600.00 535.33 520.94 500.00 405.05 432.9 400.00 EBITDA( EARNING BEFORE INTEREST, TAX, 300.00 245.59 200.00 DEPRECIATION & AMORTISATION) 100.00 0.00 1200.00 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 1047.1 1028.98 1011.88 1,099.65 1000.00 808.52 800.00 780.61 676.64 701.54 600.00 483.73 400.00 200.00 EPS (EARNINGS PER SHARE) 0.00 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 50.00 47.12 44.48 46.49 40.28 40.00 30.00 26.9 29.68 26.21 PAT (PROFIT AFTER TAX) 23.63 20.00 16.78 10.00 600.00 533.75 557.88 565.42 0.00 500.00 483.4 356.19 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 400.00 322.81 314.49 300.00 283.61 201.33 200.00 100.00 INSIDE 0.00 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 THIS REPORT 1.M ercury at a glance 1 2.F inancial Highlights 2 3.C orporate Information 3 4.M essage from Managing Directors 4 5.T he Next Generation Perspective & from the desk of Desk COO 5 6.B oard of Directors & KMPs 6 7.N otice of Annual General Meeting 7-23 8.B oard's Report 24-36 9.C orporate Governance Report 37-49 10. Independent Auditor's Report 53-60 11.F inancial statements 61-100 45TH Annual Report 2025 - 26 I 2 CORPORATE INFORMATION The Board of Directors: Mr. Rajendra R Shah (DIN:00257253) : Managing Director Mr. Sanjay Patel (DIN: 00283429) : Chairperson (w.e.f 15.05.2025) & Independent Director (w.e.f 14.05.2025) Mr. Dilip R Shah (DIN: 00257242) : Non-Executive Director Mr. Paresh Mistry (DIN:07893654) : Non-Executive Director Ms.Janki R Shah (DIN: 08686344) : Non-Executive Director Mr. Jayantilal D Raval(DIN:10662609) : Independent Director Mr. Bharat D Mehta (DIN:07180906) : Independent Director (Upto 14.05.2025) & Chairperson (Upto 14.05.2025) Key Officials: Mr. Saurabh Mittal : Chief Operating Officer Mr. Ashish Vasavada : Chief Financial Officer Ms. Krishna Shah : Company Secretary & Compliance Officer Bankers : HDFC Limited Statutory Auditors : Naresh & Co. Chartered Accountants, Vadodara Internal Auditors : K R & Associates, Chartered Accountants, Vadodara Secretarial Auditors : Dholakia & Associates LLP, Company Secretaries, Mumbai Cost Auditors : V.M. Patel & Associates, Surat Registered Office : 118, Shreeji Bhuvan, 51, Mangaldas Road, Kalbadevi Mumbai – 400 002, Tele: 022-22015441 Email: mllbrd@mercurylabs.com Registrar and Share Transfer Agent : MUFG Intime India Private Limited (Formerly Link Intime India Pvt Ltd), “Geetakunj”, 1, Bhakti Nagar Society, Behind ABS Tower, Old Padra Road, Vadodara – 390 015, Gujarat. Tel: +91 265 3566768 E-mail: vadodara@in.mpms.mufg.com CIN : L74239MH1982PLC026341 Website : www.mercurylabs.com E-Mail : secretarial@mercurylabs.com / mllbrd@mercurylabs.com Corporate Office & Units Unit No. 1 & Corporate Office Unit No. 2 2/13-14, Gorwa Industrial Estate Village: Jarod, Halol-Baroda Road, Gorwa Road,Vadodara – 390 016 Tal. Waghodia, Dist. Vadodara Phone No: 0265-2477952 Email:mllbrd@mercurylabs.com 45TH Annual Report 2025 - 26 I 3 Operational excellence, and continuous improvement remain integral to our business philosophy. We continue to invest in manufacturing technologies, quality systems, digital processes, and employee development to strengthen our competitive position. Our dedicated workforce remains our greatest asset, and I extend my heartfelt appreciation to every employee for their commitment, professionalism, and contribution during the year. Looking ahead, the Indian pharmaceutical industry continues to offer significant opportunities driven by increasing healthcare awareness, expanding access to medical treatment, government initiatives, and rising demand for quality medicines. While global uncertainties and regulatory challenges may continue, we remain confident that our strong foundation, prudent financial management, customer-centric approach, and strategic investments will enable us to capitalize on emerging opportunities and create sustainable value for all stakeholders. On behalf of the Board of Directors, I express my sincere gratitude to our shareholders for their continued confidence, our customers and business partners for their enduring association, our bankers and financial institutions for their valuable support, Dear Shareholders, regulatory authorities for their guidance, and our It gives me immense pleasure to present the 45th Annual Report of the employees for their dedication and hard work. Together, we will continue to strengthen our Company for the financial year 2025-26. I sincerely thank all our organization and advance our mission of delivering shareholders, customers, healthcare professionals, business quality healthcare solutions while crea [Showing first 8,000 characters — download PDF for full document]