Please find attached the Annual Report for the financial year 2025-26 along with notice of 41st AGM

Date: 02/09/2026 National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai- 400 051 Dalal Street, Mumbai- 400 001 Symbol: MOREPENLAB Scrip Code: 500288 Subject: Annual Report: 2025-26 along-with notice of 41st Annual General Meeting. Dear Sir/ Madam, Pursuant to the provisions of Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please find enclosed Annual Report for the financial year 2025-26 along-with notice of 41st Annual General Meeting scheduled to be held on Saturday, 26th September 2026 at 1.00 p.m. (IST) through Video Conferencing/ Other Audio Video Means. The above documents are being sent through e-mail to the members, whose e-mail id. are registered with the company/ Registrar to an Issue & Share Transfer Agent/ Depository Participant(s), in accordance with relevant circulars of Ministry of Corporate Affairs and Securities and Exchange Board of India. The said documents are also available at the website of the company viz. www.morepen.com. Kindly take note of the same. Thanking you, Yours faithfully, For Morepen Laboratories Limited Vipul Kumar Srivastava Company Secretary Membership no. F 12148 Encl.: a/a. Morepen Laboratories Limited CIN NO. L24231 HP1984PLC006028 Corp. Off.: 2nd Floor, Tower C, DLF Cyber Park, Udyog Vihar-III, Sector-20, Gurugram, Haryana-122016, INDIA TEL.: +91 124 4892000, E-mail: corporate@morepen.com, Website: www.morepen.com Regd. Off.: Morepen Village, Malkumajra, Nalagarh Road, Baddi, Distt. Solan (H.P.) -173205, INDIA Tel.: +91 1795 266401-03, 244590, Fax: +91 1795 244591, E-mail: plants@morepen.com ANNUAL R E P O R T BUILDING TODAY TRANSFORMING TOMORROW (CIN: L24231HP1984PLC006028) Corp. Off.: 2nd Floor, Tower-C, DLF Cyber Park, Udyog Vihar-III, Sector-20, Gurugram, Haryana-122016 Tel.: 91-124-4892000; E-mail: investors@morepen.com; Website: www.morepen.com 2025-26 BUILDING TODAY TRANSFORMING TOMORROW Tomorrow is shaped by the choices we make today. At Morepen, this year marks a decisive step forward: strengthening our people, deepening our technologies, enhancing our processes and renewing our purpose. Built on a legacy of trust, we continue to serve millions of families through APIs, formulations, OTC healthcare products and home diagnostics. Each business reflects the same belief: quality healthcare must be reliable, accessible and future-ready. That foundation is now opening new possibilities. Morepen is widening its role in healthcare through investments in manufacturing capacity, innovation-led chemistry, digital health and long-duration global partnerships. As we scale capabilities and deepen relationships, every facility we strengthen, every molecule we develop, every product we deliver and every life we touch today becomes a catalyst for a healthier, stronger and more sustainable tomorrow. RESEARCH INNOVATION ADVANCED TRUSTED CDMO EXCELLENCE FOR IMPACT MANUFACTURING PARTNER BUILDING TODAY TRANSFORMING TOMORROW 2-3 CORPORATE INFORMATION "Every worthy endeavour begins with a clear goal, and Morepen stands testimony to the fact that strategic Chairman & Managing Director Statutory Auditors Mr. Sushil Suri M/s. S.P. Babuta & Associates vision can be a game changer. Our dream of bringing Chartered Accountants wellness and spreading joy is now a living reality - one Managing Director Mr. Sanjay Suri Cost Auditors that continues to serve our customers, our workforce, M/s. Vijender Sharma & Co. our partners and our stakeholders. We have always set Independent Directors Cost Accountants high standards for ourselves, and exceeding those Mr. Praveen Kumar Dutt Secretarial Auditor Mr. Ranjit Khattar expectations remains the task at hand. Mr. Praveen Dua Mr. Sharad Jain M/s. PD and Associates Mrs. (Dr.) Savita I have always believed that today is the foundation of Company Secretaries tomorrow. We are on the road to an exciting future. Chief Financial Officer Registrar & Share Transfer Agent Mr. Ajay Kumar Sharma Our focus on quality has earned us the trust of MAS Services Ltd. T-34, 2nd Floor, Okhla Industrial Area discerning international markets. As we continue to Company Secretary Phase - II, New Delhi - 110 020 explore possibilities beyond the brief, I can foresee a Mr. Vipul Kumar Srivastava Listed at time when borders will become less limiting and Registered Office National Stock Exchange of India Ltd. Morepen will create new ground in healthcare. Morepen Village, Nalagarh Road BSE Limited Near Baddi, Distt. Solan Let the transformation take shape, and may it be for the Himachal Pradesh - 173 205 Depositories National Securities Depository Limited future good of all." Corporate Office Central Depository Service (India) Ltd. 2nd Floor, Tower-C, Banker DLF Cyber Park, Udyog Vihar-III, Qatar National Bank (Q.P.S.C.) Sector-20, Gurugram, Haryana-122016 CONTENTS Directors' Report 44 Annexures to the Director's Report (Including Corporate Governance Report) 60 Independent Auditors' Report 160 Balance Sheet 170 Statement of Profit and Loss 171 Cash Flow Statement 174 Company Overview and Significant Accounting Policies 176 Notes on Financial Statements 183 Independent Auditors' Report on Consolidated Financial Statements 210 Consolidated Balance Sheet 216 Consolidated Statement of Profit and Loss 217 Consolidated Cash Flow Statement 220 Company Overview and Significant Accounting Policies 221 Notes on Consolidated Financial Statements 230 BUILDING TODAY TRANSFORMING TOMORROW 4-5 From the Desk of the Chairman "As we build today, we are creating the foundation for a stronger, more innovative and more future-ready Morepen." We are living through transformative times. During the year, Morepen advanced its sustainable-growth agenda, strengthened milestone collaborations and deepened its engagement with international opportunities. As we build today, we are laying the foundation for a more rewarding tomorrow. I am pleased to share that the Company secured a multi-year Contract Development and Manufacturing Organization (CDMO) mandate valued at approximately `825 Crore (USD 91 million) from a leading global pharmaceutical company. This engagement is one of the most significant single CDMO mandates in Morepen's history and reflects the confidence global customers place in our quality systems, regulatory track record and execution capabilities. For Morepen, CDMO is not a departure from our API heritage; it is a natural extension of it. It enables us to convert our chemistry capabilities, manufacturing depth and compliance discipline into long-duration partnerships, greater revenue visibility and stronger long-term value creation. In the first three months of Financial Year 2026-27, the Company completed its first commercial dispatch of approximately `58 crore against this order. During the year under review, Dr. Morepen Ltd. ceased to be a subsidiary with effect from 31st July 2025, impacting the comparability of consolidated financial results with the previous year. On a standalone basis, the Company registered growth of 8.39 percent for the year ended 31st March 2026. The API business remained the largest contributor to the Company's revenues, while the Medical Devices business delivered a strong year-on-year growth of 20.13 percent, supported by sustained momentum across its core product lines. As we move forward, our focus is clear: strengthen the platform, deepen innovation, execute with discipline and continue building a future-ready Morepen. -Sushil Suri BUILDING TODAY TRANSFORMING TOMORROW 6-7 1985 1992 1999 2001 2003 Company started by Founder Late Shri K. B. Suri USFDA Approval of Launched OTC Brand IPO and listing on Loratadine Limca Book of World Started first API Stock Exchanges Dr. Morepen Acquired Record for OTC product Ampicillin Launched Diagnostic Brand Burnol R&D Lab for New Division Raised GDRs in Molecules the International market 2010 2015 2016 2018 2019 2020 [Showing first 8,000 characters — download PDF for full document]