Your Director's have pleasure in submitting their 17^th Annual Report of the Company together with the Audited
Financial Statements of Accounts for the year ended March 31,2025.

1. FINANCIAL RESULTS:

The summarized standalone results of your Company are given in the table below: Amount in Million

2. BUSINESS INFORMATION:

Your Company is engaged in Manufacturing of active
pharmaceuticals ingredients ("APIs") and are one of
the key Indian manufacturers and suppliers of APIs,
with a focus on research and development. The
products are registered with various international
regulatory authorities such as USFDA, EDQM,
NMPA (previously known as SFDA), KFDA, PMDA,
TGA ,Taiwan FDA and CADIFA, Brazil.

The business operations of your Company are
supported by a modern manufacturing facility
located in Parshuram Lote, Maharashtra. The
manufacturing facility is spread across 23,806 sq.
mts in 4 Manufacturing blocks segregated therapy
wise, having reactor capacity of 597 KL/ day and
seven cleanrooms. The API facility located at Lote,
Maharashtra, India has received approvals of USFDA,
EDQM/EUGMP Health Canada multiple times.

3. PERFORMANCE REVIEW:

Financial statements have been prepared in
accordance with the Indian Accounting Standards

(hereinafter referred to as the 'Ind AS') as notified by
the Ministry of Corporate Affairs pursuant to Section
133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015 as amended
from time to time and other relevant provisions of
the Act.

Some of the highlights of the operations for the
year are:

> Profit before Tax (PBT) for the year has grown
by 49.96% to H2,484.80 million as against a
PBT of H1,656.90 million for the last year.

> Tax Provision for the current year amounted
to H605.23million as against a tax provision of
H465.76 million for the last year.

> Profit after Tax (PAT) before other
comprehensive income for the year grew by
57.80% to H1,879.58 million as against a PAT of
H 1,191.14 million last year.

> Earnings Per Share of H2/- each works out to
H23.35 for the year as against H14.80 last year.

4. DIVIDEND:

Your Directors are pleased to recommend a dividend
of H1/- per equity share of H2/- each i.e. 50% for the
FY ended March 31, 2025, subject to approval of
members at the ensuing Annual General Meeting.
The Dividend, if approved by the members at the
ensuing Annual General Meeting, will result into an
outflow of H80.48 million.

5. DIVIDEND DISTRIBUTION POLICY

Pursuant to Regulation 43A of the Securities and
Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, your
Company has formulated a Dividend Distribution
Policy in accordance with which the dividend is
recommended by the Company. The said policy
is available on Company's website at https://
supriyalifescience.com/assets/pdfs/corporate-
governance/policies/Dividend-Distribution-Policy.
pdf

6. TRANSFER OF UNCLAIMED/ UNPAID
AMOUNT TO INVESTOR EDUCATION AND
PROTECTION FUND:

Your Company does not have any funds as
contemplated under Section 125 of the Act lying
unpaid or unclaimed which were required to be
transferred to Investor Education and Protection
Fund (IEPF).

7. TRANSFER TO RESERVE:

Your Company has not transferred any amount to
General Reserve for the FY ended March 31,2025.

8. DEPOSITS:

During the year under review, your Company has
neither accepted or renewed any deposits , nor
does the Company have any outstanding Deposits
in terms of Section 73 to 76 of the Companies
Act, 2013 read with Companies (Acceptance of
Deposits) Rules, 2014.

9. SUBSIDIARIES, JOINT VENTURES AND
ASSOCIATE COMPANIES:

Your Company does not have any Subsidiary, Joint
venture or Associate Company.

10. CHANGE IN THE NATURE OF BUSINESS:

During the year under review, there was no change
in the nature of business of the Company.

11.SHARE CAPITAL:

The equity shares of your Company continues to
be listed and traded on BSE Limited and National
Stock Exchange of India Limited. The paid up
Equity Share Capital as at March 31, 2025 stood
at H160.97 million consisting of 8,04,82,800 equity
shares of H2/- each. During the year under review,
the Company did not issue any type of shares or

convertible securities or shares with differential
voting rights.

During the year under review, the Company has
not issued shares with differential voting rights
or granted any stock options or issued any sweat
equity or Bonus Shares. Further, the Company has
not bought back any of its securities during the year
under review and hence no details / information
were invited in this respect.

12. EMPLOYEES STOCK OPTION PLAN

The Company has no employee stock option scheme.

13. MATERIAL CHANGES AND COMMITMENTS:

There have been no material changes and
commitments that have affected financial position
of the Company between the end of the financial
year March 31,2025 and the date of this Report.

14. PARTICULARS OF LOANS, GUARANTEES OR
INVESTMENTS :

Details of loans given, investments made ,
guarantees given or security provided, if any, as
per the provisions of Section 186 of the Act and
Regulation 34 (3) read with Schedule V of the SEBI
Listing Regulations are given in the notes to the
financial statements provided in this Annual Report.

15. PARTICULARS OF CONTRACTS OR
ARRANGEMENTS MADE WITH RELATED
PARTIES:

During the year under review, there were no
materially significant related party transactions
made by the Company with its related parties .
As a matter of policy, your Company carries out
transactions with related parties on an arms' length
basis. Statement of these transactions is provided
in Notes to financial statements.

Accordingly, particulars of contracts or
arrangements with related parties referred to in
Section 188(1) along with the justification for
entering into such contract or arrangement in Form
AOC-2 does not form part of this report.

The Policy on Materiality of Related Party
Transactions and on dealing with Related Party
Transactions as approved by the Board is available
on the Company's website at

https://supriyalifescience.com/assets/pdfs/

corporate-governance/policies/Policy-on-Related-

Party-Transactions.pdf

16. MANAGEMENT DISCUSSION & ANALYSIS
REPORT AND CORPORATE GOVERNANCE
REPORT:

In compliance with Regulation 34 of the SEBI Listing
Regulations, separate section on Management
Discussion and Analysis, as approved by the Board,

which includes details on the state of affairs of the
Company, forms part of this Annual Report.

Further, the Corporate Governance Report including
General Shareholder Information, as prescribed
under Schedule V to the SEBI Listing Regulations,
duly approved by the Board of Directors together
with the certificate from Secretarial Auditor
(Practicing Company Secretaries) confirming
compliance with the requirements of SEBI Listing
Regulations also forms part of this Annual Report.

17. DIRECTORS AND KEY MANAGERIAL
PERSONNEL:

As on March 31, 2025, the Board of Directors of
your Company comprised of 10 Directors, viz., 5
Executive Directors and 5 Independent Directors
including 1 Woman Independent Director.

Mr. Balasaheb Sawant (DIN: 07743507) who retires
by rotation and being eligible offers himself for re¬
appointment at the Annual General Meeting.

The Board, based on recommendation of the
Nomination and Remuneration Committee (NRC')
appointed Dr. Ganapati Dadasaheb Yadav (DIN:
02235661), and Dr. Sunil Subhash Bhagwat
(DIN: 10178976) as Non-Executive Independent
Director(s) of the Company w.e.f. January 24, 2025.
The said appointments were approved by members
by way of resolutions passed on April 23, 2025 via
postal ballot.

Ms. Shweta Singh, Company Secretary &
Compliance Officer (Key Managerial Personnel) of
the Company tendered resignation to pursue new
career opportunity w.e.f. close of business hours on
January 29, 2025.

Mr. Kedar Karmarkar (DIN No.:06499019) and
Mr. Bhairav Chokshi (DIN No.:03612527), Non¬
executive Independent Directors of the Company
ceased to be directors upon completion of their
second consecutive term of 5 years. Subsequently
they also ceased to be members of the Board
committees w.e.f. the close of business hours on
February 1, 2025.

Upon recommendation by the Nomination and
Remuneration Committee, the Board at its meeting
held on March 10, 2025, approved appointment of
Ms. Prachi Sathe as the Company Secretary and
Compliance Officer (Key Managerial Personnel) of
the Company w.e.f. March 10, 2025.

18. DECLARATION OF INDEPENDENT
DIRECTORS:

As required under Section 149 (7) of the Act, all the
Independent Directors on the Board of the Company
have given declarations that they meet the criteria
of independence as laid down in section 149 (6) of
the Act and Regulation 16 (1) (b) and Regulation 25
of SEBI Listing Regulations.

There has been no change in the circumstances
affecting their status as Independent Directors
of the Company. The Independent Directors
have confirmed that they have complied with the
Company's Code of Conduct. They have also further
confirmed that they have registered their names in
the Independent Directors' Databank.

In the opinion of the Board, they fulfil the conditions
of independence as specified in the Act and the
SEBI Listing Regulations and are independent of
the management. Further, the Board is also of the
opinion that all the Independent Directors of the
Company are persons of integrity and possess
relevant expertise and experience to act as
Independent Directors of the Company.

19. DIRECTORS' RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134(5)
of the Companies Act, 2013 the Board hereby
states that:

a) In the preparation of annual accounts, the
applicable accounting standards have been
followed and no material departures have been
made from the same;

b) They had selected such accounting policies
and applied them consistently, and made
judgements and estimates that are reasonable
and prudent, so as to give a true and fair view
of the state of affairs of the Company at the
end of the FY and of the profit and loss of the
Company for that period;

c) They had taken proper and sufficient care
for the maintenance of adequate accounting
records in accordance with the provisions of
the Companies Act, 2013, for safeguarding
assets of the Company and for preventing and
detecting fraud and other irregularities;

d) They had prepared annual accounts on a going
concern basis;

e) They had laid down internal financial controls
to be followed by the company and that such
internal financial controls are adequate and
were operating effectively; and

f) They had devised proper systems to ensure
compliance with the provisions of all applicable
laws and that such systems were adequate and
operating effectively.

20. NOMINATION AND REMUNERATION POLICY:

The Policy on appointment and remuneration of
Directors, Key Managerial Persons and Senior
Management including criteria for determining
qualifications, positive attributes and director's
independence as required under Section 178(3) of
the Companies Act, 2013 and Regulation 19 read
with Schedule II Part D of SEBI Listing Regulations

has been formulated by the Company. The Policy
is available on the website of the Company at
https://supriyalifescience.com/assets/pdfs/
corporate-governance/policies/Nomination-and-
Remuneration-Policy.pdf

21. REMUNERATION DETAILS OF DIRECTORS,
KMP AND EMPLOYEES:

The non-executive directors of the Company had
no pecuniary relationship or transactions with the
Company, other than sitting fees and reimbursement
of expenses, if any.

A statement comprising the details required in
terms of Section 197(12) of the Act read with Rule
5(2) and 5(3) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014
has been provided in Annexure I to this report.

22. PARTICULARS OF EMPLOYEES AND RELATED
DISCLOSURES:

The particulars of employees in compliance with
the provisions of Section 134 (3) (q) read with Rule
5 (2) and 5 (3) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014
will be provided to the shareholder upon request.
The said information is open for inspection and any
Member interested in obtaining a copy of the same
may write to the Company at cs@supriyalifescience.
com.

23. MEETINGS OF BOARD OF DIRECTORS:

The details of Board Meetings held during the year
are given in the Corporate Governance Report.

24. MEETINGS OF BOARD COMMITTEES:

As required under the Act and the SEBI Listing
Regulations, the Company has formed all the
statutory committees namely, Audit Committee,
Nomination and Remuneration Committee,
Stakeholders' Relationship Committee, Corporate
Social Responsibility Committee and Risk
Management Committee.

The details pertaining to the composition of the
Committee as of March 31,2025 including its terms
of reference and attendance of directors at the
Committee Meetings are provided in the Corporate
Governance Report.

There have been no instances where the Board did
not accept the recommendations of its committees,
including the Audit Committee.

25. PERFORMANCE EVALUATION:

The Board of Directors carried out an annual
evaluation of its own performance, of the
Committees of the Board and of the Chairperson and
individual directors pursuant to the provisions of the
Companies Act, 2013 and SEBI Listing Regulations.

Performance evaluation was carried out on the
basis of criteria approved by Nomination and
Remuneration Committee. Feedback was given
by the Directors individually and the committees
through a structured questionnaire for performance
evaluation of the Board, its committees and
individual directors.

In a separate meeting of the Independent Directors,
performance of the Chairman, non-independent
directors and the Board as a whole was evaluated
considering the views of the non independent
directors and the same was discussed in the Board
Meeting. Performance evaluation of Independent
Directors is done by the entire Board of Directors
(excluding the Directors being evaluated).

26. FAMILIARISATION PROGRAMMES FOR
INDEPENDENT DIRECTORS:

The Company conducts familiarization program for
Independent Directors and the details are uploaded
on the website of the Company on the below
mentioned link:

https://www.supriyalifescience.com/assets/pdfs/

corporate-governance/policies/Familiarization-

Programme-for-Independent-Directors.pdf

27. VIGIL MECHANISM/ WHISTLE BLOWER
POLICY:

The Company's Audit Committee vide its term
of reference has established a vigil mechanism
by adopting a Whistle Blower Policy in terms of
Section 177(10) of the Companies Act, 2013 and
Regulation 22 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.
The Policy enables the employees concerned to
report concerns about illegal or unethical practices,
suspected fraud, violation of Code of Conduct
if any . The details of the Policy are explained in
the Report on Corporate Governance and are also
available on the website of the Company at

https://supriyalifescience.com/assets/pdfs/

corporate-governance/policies/Whistle-Blower-

Policy.pdf

28. RISK MANAGEMENT POLICY:

The Company has constituted a Risk Management
Committee in compliance with Regulation 21,
of SEBI Listing Regulations in order to identify,
evaluate business risks and opportunities. The
Company has also formulated a policy viz. Risk
Management Policy for identification, evaluation
and mitigation of operational, strategic and external
risks. This strategy seeks to create transparency,
minimize adverse impact on the business objectives
and enhance the Company's competitive advantage
and helps in identifying risks trends, exposure and
potential impact analysis at a Company level as also
separately for different business segments.

More details on risks, threats and mitigation plans
have been disclosed in the section "Management
Discussion and Analysis Report" forming part of
this report.

29.INTERNAL FINANCIAL CONTROLS:

Internal financial controls are an integrated part of
the risk management process, addressing financial
statements and financial reporting risks. The internal
financial controls have been documented, digitized,
and embedded in the business processes. An
assurance of the effectiveness of internal financial
controls is obtained through management reviews
control, self-assessment, continuous monitoring by
functional experts as well as testing of the internal
financial control systems by external consultants
on behalf of the management at least once a year.
We believe that these systems provide reasonable
assurance that our internal financial controls are
designed effectively and operating as intended.
Details in respect of adequacy on internal financial
controls concerning the Financial Statements are
stated in the Management Discussion and Analysis
Section which forms part of this Annual Report.

30.AUDITORS

a) STATUTORY AUDITORS:

Pursuant to the provisions of Section 139 of the
Act, and rules made thereunder, M/s. Kakaria &
Associates LLP, Chartered Accountants, (Firm
Registration No. 104558W/W100601) were
appointed as Statutory Auditors of the Company
for a second term of five consecutive years, to hold
office from the conclusion of the 14^th AGM held on
September 16, 2022 until the conclusion of 19^th
AGM of the Company to be held in the calendar
year 2027.

M/s. Kakaria & Associates LLP, Chartered
Accountants, have submitted their Report on
the Financial Statements of the Company for the
FY 2024-25, which forms part of the Annual Report
2024-2025. There are no observations (including
any qualification, reservation, adverse remark or
disclaimer) of the Auditors in the Audit Reports
issued by them which call for any explanation
from the Board of Director. The Auditors have also
confirmed that they have subjected themselves to
the peer review process of Institute of Chartered
Accountants of India (ICAI) and hold a valid
certificate issued by the Peer Review Board of
the ICAI.

b) SECRETARIAL AUDITORS:

As per Regulation 24A of SEBI LODR Regulations,
2015, it is proposed to appoint M/s. DSM &
Associates, Peer Reviewed Firm of Company
Secretaries in Practice, as the Secretarial Auditors
of the Company for 1^st term of 5 (five) consecutive

years commencing from the FY 2025-26 till
FY 2029-30 subject to approval of the shareholders
at the ensuing Annual General meeting.

The Secretarial Audit Report required pursuant to
subsection (3) of Section 134 and Section 204 (1)
of the Companies Act, 2013, is given in Annexure
II to this report.

c) COST AUDITORS:

As per Section 148 of the Act read with Companies
(Cost Records and Audit) Rules 2014, M/s.
Rampurawala Mohammed A & Co, Cost Accountants,
Mumbai, Firm Registration No. 003011 have been
re-appointed as Cost Auditors for the FY 2024-25
to conduct cost audit of the accounts maintained
by the Company in respect of the various products
prescribed under the applicable Cost Audit
Rules. The remuneration of Cost Auditors has
been approved by the Board of Directors on the
recommendation of Audit Committee. The requisite
resolution for ratification of remuneration of Cost
Auditors by members of the Company has been set
out in the Notice of ensuing AGM. The Cost Auditors
have certified that their appointment is within the
limits of Section 141(3)(g) of the Act and that they
are not disqualified from appointment within the
meaning of the said Act.

d) INTERNAL AUDITORS:

M/s. Nair & Panickers Audit & Advisory Services,
were appointed as the internal auditors of
the Company. During the year, the Company
continued to implement their suggestions and
recommendations to improve internal controls.
The Company's internal control systems are well
established and are commensurate with the nature
of its business and the size and complexity of its
operations. The recommendations/ suggestions of
the internal auditors are reviewed and approved by
the Audit Committee at their quarterly meetings.
M/s. MP Nair & Associates, Chartered Accountants
are appointed by the Board as Internal Auditor of
the Company for conducting the Internal Audit and
to issue report for the FY 2025-26.

31. REPORTING OF FRAUDS BY AUDITORS:

During the year under review, no instances of fraud
committed against the Company by its officers
or employees were reported by the auditors, viz.
Statutory Auditors, Secretarial Auditors, Cost
Auditors to the Audit Committee as required under
Section 143(12) of the Act

32. CORPORATE SOCIAL RESPONSIBILITY:

The Board of Directors has constituted Corporate
Social Responsibility Committee (CSR Committee)
consisting of members viz. Dr. Satish Wagh
(Chairman), Dr. Saloni Wagh, and Dr. Sunil Bhagwat.

Corporate Social Responsibility Policy (CSR Policy)
indicating the activities to be undertaken by
the Company was adopted by the Board on the
recommendation of the CSR Committee. The policy
can be accessed at https://supriyalifescience.com/
assets/pdfs/corporate-governance/policies/CSR-
Policy.pdf

The CSR Committee confirms that the
implementation and monitoring of the CSR Policy
was done in compliance with the CSR objectives
and policy of the Company.

Annual Report on Corporate Social Responsibility
as per Rule 8 of Companies (Corporate Social
Responsibility Policy) Rules, 2014 is enclosed as
Annexure III to this Report. During the year, no
revision was made to the CSR Policy of the Company.

33.BUSINESS RESPONSIBILITY AND
SUSTAINABILITY REPORT:

In compliance with Regulation 34(2)(f) of the SEBI
Listing Regulations read with SEBI circular dated
May 10, 2021, the Company has presented the
BRSR, for FY 2024-25 in a separate section of
this report.

34.SECRETARIAL STANDARD:

The Directors state that the applicable Secretarial
Standards issued by the Institute of Company
Secretaries of India, relating to Meetings of Board of
Directors and General Meetings respectively, have
been duly complied with.

35. EXTRACT OF ANNUAL RETURN:

The Annual Return as on March 31, 2025 in the
prescribed Form No. MGT-7, pursuant to section
92 of the Act is available on the website of the
Company at https://supriyalifescience.com/ir-
annual-report-return.php

36. CONSERVATION OF ENERGY, TECHNOLOGY
ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO:

The information pertaining to Conservation of
Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo as required under Section 134
(3)(m) of the Companies Act, 2013 read with Rule
8(3) of the Companies (Accounts) Rules, 2014
is furnished in Annexure IV and is attached to
this report.

37. DISCLOSURES AS PER THE SEXUAL
HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013:

The Company has adopted a policy on Prevention,
Prohibition and Redressal of sexual harassment
at workplace in line with the requirements of
the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013.
During the year, no complaints or allegations of
sexual harassment were filed with the Company.

The Company has complied with the relevant
provisions under the Maternity Benefits Act, 1961.

38. CODE FOR PREVENTION OF INSIDER
TRADING:

Your Company has adopted a Code of Conduct
to regulate, monitor and report trading by insiders
as per the requirements under the Securities and
Exchange Board of India (Prohibition of Insider
Trading) Regulations, 2015 which can be accessed at
https://supriyalifescience.com/assets/pdfs/corporate-
governance/policies/Code-of-conduct-to-Regulate-
monitor-and-report-trading-in-securities-by-insiders.
pdf

This Code of Conduct also includes code for
practices and procedures for fair disclosure of
unpublished price sensitive information which has
been made available at https://supriyalifescience.
com/assets/pdfs/corporate-governance/policies/
Code-for-Fair-Discolures-of-UPSI.pdf

39. CREDIT RATING

Details of credit rating ascribed by rating agencies
are disclosed in Corporate Governance Report
forming part of this Annual Report. The strong credit
rating reaffirmed is a reflection of the Company's
strong financial position and discipline.

40. DETAILS OF SIGNIFICANT AND MATERIAL
ORDERS PASSED BY THE REGULATORS OR
COURTS OR TRIBUNALS IMPACTING THE
GOING CONCERN STATUS AND COMPANY'S
OPERATIONS IN FUTURE:

There are no Material orders passed by the judicial
or quasi-Judicial authority which affects the Going
Concern Status of the Company during the year
under review.

Ambernath. The Company also organises various
safety awareness programs to impart safety training
to its employees.

43.ACKNOWLEDGEMENTS:

The Board of Directors places on record sincere
gratitude and appreciation for all the employees
of the Company. Our consistent growth has
been possible through their hard work, solidarity,
cooperation, and dedication during the year. The
Board conveys its appreciation for its customers,
shareholders, suppliers as well as vendors, bankers,
business associates, regulatory, and government
authorities for their continued support.