Outcome of Board Meeting

Ref: ADL/SE/2026-27/28 July 31, 2026 To, To, Listing/ Compliance Department Listing/ Compliance Department BSE Limited National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Plot No. C/1, Dalal Street, G Block Bandra - Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai – 400051 BSE CODE: 524348 NSE SYMBOL: AARTIDRUGS Dear Sir/Madam, Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sub: Change to the Directorate and Composition of Committee This is to inform you that the Board of Directors of the Company at its Meeting held today i.e. Friday, July 31, 2026, inter-alia, considered and approved the following: A) Retirement of Shri Prakash M. Patil, Chairman, Managing Director and Chief Executive Officer (CEO) of the Company with effect from the close of business hours on September 30, 2026. Pursuant to the approval of the shareholders in the Annual General Meeting dated September 4, 2021, the current term of Shri Prakash M. Patil is scheduled to expire on May 31, 2027. In his communication to the Board, he expressed his desire to resign on ground of his intention to get early retirement. This is in view of his belief that it’s an appropriate time for an orderly leadership transition. Shri Prakash M. Patil has been associated with the Company since inception and has served as its Chairman since 2014. Under his visionary leadership, the Company achieved significant milestones, strengthened its market position and created enduring value for all stakeholders. The Board accepted his request with deep appreciation and gratitude for his visionary leadership, unwavering commitment and invaluable contribution to the Company over the years and wished him good health, happiness and success in his future endeavours. Further, the Board requested him to continue his association with the Company for the purpose of providing guidance, strategic support and smooth transition. B) Shri Rashesh C. Gogri (DIN: 00066291) as the Chairman of the Company with effect from October 1, 2026. Shri Rashesh C. Gogri has been associated with the Company as the Managing Director since September 2014. During his tenure, he has provided visionary leadership and strategic direction, playing a pivotal role in the Company's growth and market development. In recognition of his contributions and as part of the Company's leadership transition, on the basis of the recommendation of Nomination and Remuneration Committee, the Board has elevated him to the position of Chairman of the Company, in addition to his existing role as Managing Director. C) Shri Adhish P. Patil (DIN: 02629496) as the Managing Director for a period of 5 (five) years with effect from October 1, 2026. Shri Adhish P. Patil has been associated with the Company as Chief Financial Officer since April 2014 and has played a pivotal role in the Company's growth and operational excellence over the years. During his tenure, he has been instrumental in leading the Company's finance, technical and commercial functions, demonstrating strong leadership and strategic vision. In recognition of his significant contributions and as a part of Company’s leadership transition, on the basis of the recommendation of Nomination and Remuneration Committee, the Board of Directors has approved his appointment as the Managing Director with effect from October 1, 2026. Further, his appointment as the Managing Director is subject to approval of the shareholders of the Company in an ensuing Annual General Meeting. D) Appointment/ Re-appointment of Executive Directors and Independent Directors of the Company on the basis of the recommendation of Nomination and Remuneration Committee and subject to the approval of the Shareholders of the Company in an ensuing Annual General Meeting: a. Appointment of Shri Nilesh B. Patil (DIN: 08616943) as Whole-time Director of the Company, liable to retire by rotation, with effect from the conclusion of the ensuing Annual General Meeting of the Company for period of 5 (five) years, in place of Shri Uday M. Patil (DIN: 01186406), who retires by rotation at the ensuing Annual General Meeting and has not offered himself for re-appointment as a Director of the Company. Shri Uday M. Patil has been associated with the Company for more than 25 years. The Board accepted the request of Shri Uday M. Patil for his retirement and placed on record its deep appreciation for his significant contribution to the growth of the Company and wished him good health and success in all his future endeavours. b. Re-appointment of Shri Harshit M. Savla (DIN: 00005340) as the Joint Managing Director of the Company, liable to retire by rotation, for a further period of 5 (five) years with effect from June 1, 2027. c. Re-appointment of Shri Harit P. Shah (DIN: 00005501) as the Whole-time Director of the Company, liable to retire by rotation, for a further period of 5 (five) years with effect from June 1, 2027. d. Re-appointment of Shri Hasmukh B. Dedhia (DIN: 07510925) as an Independent Director of the Company for the second term of 5 (five) years with effect from March 29, 2027. e. Re-appointment of Shri Ajit E. Venugopalan (DIN: 09439069) as an Independent Director of the Company for the second term of 5 (five) years with effect from March 29, 2027. f. Re-appointment of Shri Sandeep M. Joshi (DIN: 00516409) as an Independent Director of the Company for the second term of 5 (five) years with effect from March 29, 2027. Pursuant to BSE circular with ref No. LIST/COMP/14/2018-19 and the NSE with ref No NSE/CM/2018/24 dated June 20, 2018 this is to confirm that None of the above mentioned persons are debarred from holding the office of a Director pursuant to any Order of SEBI or any other such authority. Shri Harshit M. Savla is a promoter and, Shri Rashesh C. Gogri and Shri Adhish P. Patil are persons belonging to the Promoter Group of the Company. Further, the Independent Directors fulfills the criteria of Independence as required under the provisions of the Companies Act, 2013 and the Rules framed thereunder and the Listing Regulations and related SEBI circulars. The required details pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular SEBI/ HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 are enclosed herewith in Annexure - A. E) Re-constitution of Committees of the Board of Directors In view of the above cessations and appointments, the Board approved reconstitution of the committees with effect from October 1, 2026 as follows: a. Audit Committee: Shri Hasmukh B. Dedhia Independent Director, Chairman Shri Ankit V. Paleja Independent Director, Member Smt Neha R. Gada Independent Director, Member Shri Ajit E. Venugopalan Independent Director, Member Shri Rashesh C. Gogri Managing Director, Member Shri Adhish P. Patil* Managing Director, Member b. Nomination and Remuneration Committee: Smt Neha R. Gada Independent Director, Chairperson Shri Bhaskar N. Thorat Independent Director, Member Shri Ankit V. Paleja Independent Director, Member Shri Rashesh C. Gogri Managing Director, Member c. Risk Management Committee: Shri Rashesh C. Gogri Managing Director, Chairman Shri Adhish P. Patil* Managing Director, Member Shri Harshit M. Savla Jt. Managing Director, Member Shri Harit P. Shah Executive Director, Member Shri Narendra J. Salvi Non-executive Director, Member Shri Nilesh B. Patil* Executive Director, Member Shri Ankit V. Paleja Independent Director, Member Shri Bhaskar N. Thorat Independent Director, Member Shri Dhanaji L. Kakade Vice President- Technical, Member d. Corporate Social Responsibility Committee Shri Bhaskar N. Thorat Independent Director, Chairman Shri Adhish P. Patil* Managing Director, Member Shri Rashesh C. Gogri Managing Director, Member e. Finance and Investment Committee Shri Rashesh C. Gogri Managing Director, Chairman Shri Adhish P. Patil* Managing Director, Member Shri Harshi [Showing first 8,000 characters — download PDF for full document]