Transcript of 32nd Annual General Meeting

September 2, 2026 Listing Department Code: 531335 BSE LIMITED P. J. Towers, Dalal Street, Mumbai–400 001 Listing Department Code: ZYDUSWELL NATIONAL STOCK EXCHANGE OF INDIA LIMITED Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai–400 051 Sub.: Transcript of 32nd Annual General Meeting of the Company Dear Sir / Madam, Please find enclosed herewith the transcript of the 32nd Annual General Meeting of the Company held on Tuesday, August 4, 2026. Please find the same in order. Thanking you, Yours faithfully, For, ZYDUS WELLNESS LIMITED NANDISH P. JOSHI COMPANY SECRETARY & COMPLIANCE OFFICER Encl.: As above “32nd Annual General Meeting” August 4, 2026 10:00 A.M. (IST) to 10:48 A.M. (IST) PARTICIPANTS: Dr. Sharvil P. Patel Chairman Ms. Dharmishtaben N. Raval Independent Director and Chairperson of Audit Committee Mr. Apurva S. Diwanji Independent Director Mr. Srivishnu R. Nandyala Independent Director Mr. Kulin S. Lalbhai Independent Director and Chairman of Nomination and Remuneration Committee Mr. Ganesh N. Nayak Non-Executive Director and Chairman of Stakeholders’ / Investors’ Relationship Committee Mr. Tarun Arora Chief Executive Officer & Whole Time Director Mr. Umesh V. Parikh Chief Financial Officer Mr. Nandish P. Joshi Company Secretary & Compliance Officer Mr. Mukesh M. Shah Statutory Auditor Mr. Hitesh D. Buch Secretarial Auditor and Scrutinizer Shareholders Welcome Address Mr. Nandish P. Joshi – Company Secretary & Compliance Officer Dear Shareholders, Good morning to all and welcome to the Thirty Second Annual General Meeting of Zydus Wellness Limited. I am Nandish Joshi, Company Secretary and I will be assisting the Chairman in conducting this meeting, through Video Conferencing pursuant to the provisions of the Companies Act, 2013 and the circulars issued by MCA and SEBI. As a reminder, for the smooth conduct of the AGM and to avoid background disturbance, members will be in mute mode and audio and video will be enabled only when they are invited to speak at the AGM as per the pre-registration. Any member facing any issue in joining the AGM virtually, may contact CDSL on the helpline number provided in the Notice of AGM. Please note that, as per the statutory requirements, the proceedings of the AGM is being recorded and will be made available on the website of the Company. I now hand over the proceedings to Dr. Sharvil P. Patel, Chairman of the Company. Dr. Sharvil P. Patel – Chairman Thankyou Nandish, and Good morning, ladies and gentleman. On behalf of the Board of Directors, I am pleased to welcome you to the Thirty Second Annual General Meeting of Zydus Wellness Limited. I hope all of you are in good health. Requisite quorum being present, I call the meeting to order. As allowed by the MCA and SEBI, the Company is conducting the AGM through Video Conferencing. The virtual AGM provides opportunity to all the shareholders to attend the AGM from different locations across the Country. The AGM is being conducted from the Registered Office of the Company at Ahmedabad. Let me introduce the Board members and Key Managerial Personnel present with me. Ms. Dharmishtaben Raval, Independent Director & Chairperson of the Audit Committee, Mr. Srivishnu Nandyala, Independent Director, Mr. Kulin Lalbhai, Independent Director & Chairperson of NRC, Mr. Apurva Diwanji, Independent Director, Mr. Ganesh Nayak, Non- Executive Director and Chairman of Stakeholder Relationship Committee, Mr. Tarun Arora, Chief Executive Officer and Whole Time Director, Mr. Umesh Parikh, CFO and Mr. Nandish Joshi, Company Secretary. We also take on record the presence of Mr. Mukesh Shah, Partner - Mukesh M. Shah & Co, Chartered Accountants, Statutory Auditors and Mr. Hitesh Buch, Secretarial Auditor, at this AGM. Board of Directors, at their meeting held on May 18, 2026, appointed Mr. Apurva Diwanji as an additional Independent Director, subject to the approval of the Shareholders at this AGM. He has been with Desai and Diwanji for more than 32 years. He specialises in M&A, Private Equity and Joint Ventures. On behalf of the Board of Directors, I welcome him to the Board. All of you would have received the copy of the Integrated Annual Report of the Company for the financial year ended March 31, 2026, through email whose email id’s were registered, through letter whose email id’s were not registered, containing the exact path of the website of the Company where the Integrated Annual Report is uploaded and a physical copy was sent to only those shareholders who had requested for the same. This report includes details of your Company’s financial performance, business strategy, operational updates, innovation efforts and the ESG initiatives. The report also contains the statutory reports which inter-alia includes the Notice of the AGM. With your permission, I take the notice of this AGM as read. Before we start the official business of the AGM, I would like to talk briefly about the progress of the Company has made during the year that went by. As we presented the Integrated Annual Report for FY 2026, Zydus Wellness stands at the intersection of evolving lifestyles, changing aspirations, and growing desire to live better and healthy life every day. The theme “Choose Wellness, Choose Life” captures a powerful truth. Wellness is shaped by the choices we make every single day. Across the world, consumers are becoming more conscious of how they live, what they consume and how they care for their health and well-being. Wellness is no longer viewed as an occasional choice; it is increasingly becoming a way of life. At Zydus Wellness, we believe this shift presents both an opportunity and responsibility. An opportunity to serve every consumer’s need and a responsibility to do so with trust, science and integrity. FY26 was a year that tested resilience while creating new avenues for growth. Consumer demand patterns continue to evolve, weather conditions impacted certain seasonal categories and businesses across industries had to navigate an increasingly dynamic environment. Yet despite these challenges, we remained focus on our long-term priorities and continue to strengthen the foundation of our business. Our performance during the year reflects the strength of our portfolio, the commitment of our teams and the disciplined execution of our strategy. Revenue from operations increased by 46.2% to Rs. 36,610 million. While EBITDA grew 34.2% to Rs. 5,097 million. While certain parts of our portfolio faced temporary challenges, the overall business remained resilient. Within our domestic portfolio, seasonal brands were impacted by delayed summers and unseasonal rainfall. At the same time, our skincare haircare portfolio delivered strong growth supported by innovation, premiumisation and deeper consumer engagements. Our food and nutrition segment witnessed continued growth reflecting consumers increasing focus towards healthier lifestyles and the strength of our offerings in these categories. The Wellness landscape continued to expand rapidly. Consumers today seek products that support healthier living and preventive care and better nutrition, while expecting greater convenience accessibility and authenticity. We are responding by strengthening our portfolio – investing in innovation, building deeper consumer connections across both the physical and digital channels. Our portfolio comprises iconic brands such as Sugar Free, Glucon-D, Complan, Everyuth, Nycil, Nutralite, RiteBite Max Protein, and I'm Lite, which continues to enjoy the trust of millions of consumers built over years through consistent quality, reliability and science-led innovation, these brands continue to evolve through new formats, product innovations and wellness- oriented positioning. By responding to emerging trends such as functional nutrition, convenience-led consumption and healthier-conscious choices, we continue to strengthen their relevance while sustaining category leadership. A significa [Showing first 8,000 characters — download PDF for full document]