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JB Chemicals Shareholders Approve Amalgamation with Torrent Pharmaceuticals
Shareholders of JB Chemicals & Pharmaceuticals Limited have overwhelmingly approved the Scheme of Amalgamation with Torrent Pharmaceuticals Limited in an NCLT-convened meeting held on April 28, 2026. The resolution was passed with 100% of the value of valid votes cast in favor by both promoters and public shareholders. A total of 13,03,91,286 valid votes were polled, representing a significant consensus for the merger. This approval marks a critical regulatory milestone, moving the company closer to final consolidation with Torrent Pharma.
Key Highlights
100% of the value of valid votes cast (13,03,89,101 votes) were in favor of the merger with Torrent Pharmaceuticals.
Public shareholders cast 5,20,33,394 valid votes, with 99.02% of participating shareholders by number voting in favor.
The meeting was attended by 49 equity shareholders via video conferencing, satisfying the NCLT-mandated quorum of 30.
The resolution met the dual requirement of a majority in number and three-fourths in value of shareholders as per Section 230(6) of the Companies Act.
💼 Action for Investors
Investors should remain positive as the merger progresses toward final NCLT and regulatory clearances. Monitor the integration timeline and potential synergy benefits that the combined entity will offer in the pharmaceutical sector.
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JB Chemicals Shareholders Approve Merger with Torrent Pharmaceuticals
Shareholders of JB Chemicals & Pharmaceuticals Limited have officially approved the Scheme of Amalgamation with Torrent Pharmaceuticals Limited during an NCLT-convened meeting on April 28, 2026. The resolution was passed with the requisite majority, satisfying the legal requirement of a majority in number and three-fourths in value of the shareholders present and voting. This approval marks a significant regulatory milestone in the consolidation process of the two pharmaceutical companies. The meeting was conducted via video conferencing and concluded within 33 minutes, indicating strong shareholder consensus.
Key Highlights
Shareholders approved the Scheme of Amalgamation with Torrent Pharmaceuticals Limited with a 75% value majority.
The NCLT-convened meeting was held on April 28, 2026, and concluded in 33 minutes.
Approval was obtained under Section 230(6) of the Companies Act, 2013, requiring both count and value majorities.
Voting was conducted through remote e-voting and e-voting during the virtual meeting.
💼 Action for Investors
Investors should retain their holdings as the merger moves toward final NCLT sanction and monitor for the announcement of the record date and swap ratio implementation.
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JB Chemicals CEO Nikhil Chopra Steps Down Effective March 31, 2026
JB Chemicals & Pharmaceuticals has confirmed that Mr. Nikhil Chopra has ceased to be the Chief Executive Officer and Key Managerial Personnel effective March 31, 2026. This follows his earlier resignation as a Whole-time Director on January 21, 2026, which was part of a planned transition. Mr. Chopra cited personal reasons and the pursuit of other professional opportunities for his departure. The company had previously disclosed this timeline in January 2026, providing the board with a lead time for succession planning.
Key Highlights
Mr. Nikhil Chopra officially ceased to be CEO and KMP on March 31, 2026
Resignation as Whole-time Director was effective from January 21, 2026
Departure is attributed to personal reasons and new professional opportunities
The transition was previously intimated to exchanges on January 21, 2026
💼 Action for Investors
Investors should monitor the company's announcement regarding a successor and observe if the leadership change impacts the current growth momentum in the domestic formulations market.
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JB Chemicals Convenes NCLT-Ordered Shareholder Meeting Following March 23 Tribunal Order
JB Chemicals & Pharmaceuticals Limited has issued a public notice regarding a meeting of its equity shareholders as per the National Company Law Tribunal (NCLT) Ahmedabad Bench order dated March 23, 2026. The company published advertisements in Indian Express and Sandesh on March 28, 2026, to notify shareholders of the upcoming meeting. Such NCLT-convened meetings are typically required for approving schemes of arrangement, mergers, or other corporate restructurings. Investors should await the specific agenda of the meeting to understand the potential impact on the company's structure.
Key Highlights
NCLT Ahmedabad Bench issued a directive on March 23, 2026, to convene a meeting of equity shareholders.
Newspaper advertisements for the notice were published on March 28, 2026, in English and Gujarati editions.
The meeting is a formal requirement under the Tribunal Order, indicating a pending corporate action or scheme of arrangement.
💼 Action for Investors
Investors should review the detailed meeting notice and explanatory statement once available to understand the proposed corporate restructuring. No immediate action is required until the specific terms of the NCLT-related proposal are disclosed.
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JB Chemicals to Hold Shareholder Meeting on April 28 for Merger with Torrent Pharma
JB Chemicals & Pharmaceuticals has scheduled a court-convened meeting on April 28, 2026, to seek shareholder approval for its proposed merger with Torrent Pharmaceuticals. This follows the National Company Law Tribunal (NCLT) order dated March 23, 2026. The merger process includes a share exchange ratio determined by registered valuers Ernst & Young and BDO, with fairness opinions from Axis Capital and ICICI Securities. Shareholders as of the cut-off date of April 21, 2026, will be eligible to vote on this significant consolidation in the pharmaceutical sector.
Key Highlights
Court-convened meeting scheduled for April 28, 2026, to approve the Scheme of Amalgamation with Torrent Pharmaceuticals.
Cut-off date for remote e-voting eligibility is set for April 21, 2026.
Joint Share Exchange Ratio Report was issued on June 29, 2025, by Ernst & Young and BDO Valuation Advisory.
Observation letters from BSE and NSE were received on February 17, 2026, allowing the merger process to proceed to the NCLT stage.
The merger is being conducted under Sections 230 to 232 of the Companies Act, 2013.
💼 Action for Investors
Investors should carefully review the share exchange ratio and valuation reports provided in the notice to evaluate the long-term synergy benefits. It is advisable to participate in the e-voting process starting April 24, 2026, to support or contest the merger terms.
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JB Chemicals to Amalgamate with Torrent Pharma; NCLT Issues Corrigendum Order
JB Chemicals & Pharmaceuticals Limited has announced a significant corporate restructuring involving its amalgamation with Torrent Pharmaceuticals Limited. The National Company Law Tribunal (NCLT), Ahmedabad Bench, issued a Corrigendum Order on March 24, 2026, following its initial order regarding the merger. This development marks a critical step in the legal process of merging the Transferor Company (JB Chemicals) into the Transferee Company (Torrent Pharma). Investors should monitor the finalization of the scheme and the subsequent impact on shareholding patterns.
Key Highlights
Proposed amalgamation of J.B. Chemicals & Pharmaceuticals Limited with Torrent Pharmaceuticals Limited.
NCLT Ahmedabad Bench issued a Corrigendum Order dated March 24, 2026.
The order was officially uploaded to the NCLT website on March 25, 2026.
The merger is being processed under Regulation 30 of SEBI (LODR) Regulations, 2015.
💼 Action for Investors
Investors should await the specific details of the swap ratio and the final approval timeline for the merger. It is essential to evaluate the combined entity's market position and potential synergies in the pharmaceutical sector.
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JB Chemicals Merger with Torrent Pharma: NCLT Issues First Motion Order
JB Chemicals & Pharmaceuticals Limited has reached a significant milestone in its proposed amalgamation with Torrent Pharmaceuticals Limited. The National Company Law Tribunal (NCLT), Ahmedabad Bench, uploaded the order for the first motion application on March 23, 2026. This follows the initial merger announcement made on June 29, 2025, indicating that the legal process is proceeding as scheduled. Investors should note that this is a critical step toward the final consolidation of the two pharmaceutical entities.
Key Highlights
NCLT Ahmedabad Bench uploaded the first motion order on March 23, 2026.
The merger involves JB Chemicals as the Transferor Company and Torrent Pharmaceuticals as the Transferee.
The amalgamation process was originally initiated and disclosed on June 29, 2025.
The disclosure is made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations.
💼 Action for Investors
Investors should continue to hold their positions as the merger progresses through regulatory approvals. Keep a close watch on the upcoming shareholder meeting dates and the final swap ratio details.
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JB Chemicals Shareholders Approve Aman Mehta as Managing Director with 99.85% Majority
JB Chemicals & Pharmaceuticals Limited has successfully passed five ordinary resolutions via postal ballot, primarily focused on leadership appointments. Shareholders overwhelmingly approved the appointment of Mr. Aman Mehta as the Managing Director with 99.85% of votes in favor. The voting saw significant participation, with approximately 80.99% of the total paid-up equity capital represented in the poll. This clear mandate provides the company with stable leadership and a confirmed board structure.
Key Highlights
Appointment of Mr. Aman Mehta as Managing Director approved with 99.85% votes in favor
Total voter turnout represented 80.99% of the company's outstanding equity shares
Institutional investor participation was high at 84.44%, with 99.66% of them supporting the MD appointment
Three other Non-Executive Non-Independent Directors (Amal Kelshikar, Hasmukh Patel, and Sudhir Menon) were appointed with over 99.8% majority each
Promoter and Promoter Group showed 100% participation and unanimous support for all resolutions
💼 Action for Investors
The strong shareholder mandate for the new Managing Director and board members reflects high investor confidence in the company's leadership transition. Investors should view this as a positive sign of corporate stability and continue to monitor the company's execution under the confirmed management team.
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JB Chemicals Appoints Torrent Pharma's Aman Mehta as MD; 3 Other Senior Directors Join Board
JB Chemicals & Pharmaceuticals has received shareholder approval to appoint Mr. Aman Mehta, the current MD of Torrent Pharmaceuticals, as its new Managing Director for a three-year term effective January 21, 2026. In a significant board restructuring, three other senior Torrent Pharma executives—Amal Kelshikar (India Business Head), Hasmukh Patel (COO), and Sudhir Menon (CFO)—have also been appointed as Non-Executive Directors. This move brings over 100 years of combined pharmaceutical leadership experience from Torrent Pharma into JB Chemicals' top management. The transition signals a strong strategic alignment and potential for operational synergies between the two companies.
Key Highlights
Mr. Aman Mehta appointed as Managing Director for a 3-year term starting January 21, 2026
Three senior Torrent Pharma executives (COO, CFO, and India Head) join as Non-Executive Directors
New MD Aman Mehta holds an MBA from Columbia University and has over 10 years of leadership experience
Appointees Hasmukh Patel and Sudhir Menon bring 33 and 29 years of industry experience respectively
Appointments were approved by shareholders via Postal Ballot on March 23-24, 2026
💼 Action for Investors
Investors should view this leadership infusion from a high-performing peer like Torrent Pharma as a positive for long-term growth and operational efficiency. Monitor for upcoming strategic announcements regarding domestic market expansion and M&A activity under the new leadership.
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JB Chemicals Announces Resignation of Three Senior Management Personnel Including India Head
JB Chemicals & Pharmaceuticals has announced the departure of three key senior executives in March 2026. Mr. Kunal Khanna (President – Operations) and Mr. Dilip Singh Rathore (President – India Business) both stepped down effective March 5, 2026. Additionally, Mr. Jason D’souza (Executive Vice President) resigned effective March 6, 2026. The simultaneous exit of leaders overseeing operations and the critical India business segment is a significant leadership transition for the company.
Key Highlights
Mr. Kunal Khanna resigned as President – Operations effective March 5, 2026
Mr. Dilip Singh Rathore resigned as President (India Business) effective March 5, 2026
Mr. Jason D’souza resigned as Executive Vice President effective March 6, 2026
All three senior management personnel ceased their roles within a 24-hour window
💼 Action for Investors
Investors should monitor the company's upcoming announcements regarding succession planning and ensure that the transition in the India Business segment does not disrupt domestic growth momentum.
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JB Chemicals Seeks Approval to Appoint Aman Mehta as MD and Three New Directors
JB Chemicals & Pharmaceuticals has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Aman Mehta as Managing Director for a three-year term effective January 21, 2026. Notably, the proposed MD appointment is without any remuneration. The company is also seeking approval for the appointment of three Non-Executive Non-Independent Directors: Mr. Amal Kelshikar, Mr. Hasmukh Patel, and Mr. Sudhir Menon. Shareholders can cast their votes via e-voting between February 22 and March 23, 2026, with results expected by March 25, 2026.
Key Highlights
Proposed appointment of Mr. Aman Mehta as Managing Director for a 3-year term starting January 21, 2026.
The Managing Director position for Mr. Aman Mehta is proposed with zero remuneration.
Three additional Non-Executive Non-Independent Directors are proposed for appointment to the Board.
Remote e-voting period is set from February 22, 2026, to March 23, 2026.
Final results of the postal ballot will be announced on or before March 25, 2026.
💼 Action for Investors
Investors should monitor the outcome of the voting to ensure continuity in leadership and observe if these changes signal any shift in corporate strategy. The zero-remuneration clause for the MD is a specific point of interest regarding the company's cost management or promoter alignment.
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JB Chemicals Announces Resignation of Presidents for Operations and India Business
JB Chemicals & Pharmaceuticals Limited has announced the simultaneous resignation of two key senior management personnel. Mr. Kunal Khanna, President of Operations, and Mr. Dilip Singh Rathore, President of the India Business, will step down effective March 5, 2026. The departure of the India Business head is particularly significant as this segment is a primary revenue driver for the company. Investors should watch for the announcement of successors to ensure leadership continuity.
Key Highlights
Mr. Kunal Khanna, President – Operations, resigned effective March 5, 2026.
Mr. Dilip Singh Rathore, President – India Business, resigned effective March 5, 2026.
Both resignations were tendered on February 5, 2026, providing a one-month notice period.
The India Business segment is a core growth pillar for the company's domestic pharmaceutical operations.
💼 Action for Investors
Monitor for the appointment of new leadership to lead the India Business and Operations divisions to ensure a smooth transition. No immediate action is required, but leadership stability in the domestic market is critical for long-term performance.
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JB Chemicals Sets February 11, 2026, as Record Date for Interim Dividend
JB Chemicals & Pharmaceuticals Limited has officially designated February 11, 2026, as the record date to determine shareholder eligibility for an interim dividend for FY 2025-2026. This announcement follows the company's board meeting processes and complies with SEBI's Listing Obligations and Disclosure Requirements. The record date is crucial for investors as it defines who will receive the cash payout. Shareholders must hold the company's equity shares in their demat accounts by the close of business on this date to qualify.
Key Highlights
Record date fixed for Wednesday, February 11, 2026
Purpose is to ascertain eligibility for Interim Dividend for FY 2025-2026
Announcement made in compliance with Regulation 42 of SEBI LODR Regulations, 2015
The notification was issued to the National Stock Exchange on February 5, 2026
💼 Action for Investors
Investors seeking to capture the interim dividend should ensure they purchase shares at least one trading day prior to the ex-dividend date. Current shareholders should maintain their holdings through the record date of February 11, 2026, to ensure eligibility.
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JB Chemicals Declares Rs 12.70 Interim Dividend and Appoints Kaushal Solanki as CFO
JB Chemicals & Pharmaceuticals has declared an interim dividend of Rs 12.70 per equity share for the financial year 2025-26, representing a 1270% payout on its Re 1 face value. The dividend is scheduled to be credited to eligible shareholders on or after February 25, 2026. In a significant leadership update, the company also appointed Mr. Kaushal Solanki as the Chief Financial Officer. Mr. Solanki joins with over 30 years of experience, having previously held senior leadership roles at Torrent Pharmaceuticals.
Key Highlights
Declared an interim dividend of Rs 12.70 per equity share (1270% of face value).
Dividend payment to be credited to shareholders starting February 25, 2026.
Appointed Mr. Kaushal Solanki as CFO and Key Managerial Personnel effective February 5, 2026.
New CFO brings 30+ years of experience, including a long-term tenure at Torrent Pharmaceuticals.
The board meeting concluded within 30 minutes, reflecting efficient decision-making on these key items.
💼 Action for Investors
Investors should monitor the record date to ensure eligibility for the Rs 12.70 dividend. The appointment of a seasoned CFO from a major peer like Torrent Pharma is a positive signal for the company's financial leadership and governance.
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JB Chemicals CFO Narayan Saraf Resigns Effective January 30, 2026
JB Chemicals & Pharmaceuticals Limited has announced that Mr. Narayan Saraf has stepped down from his role as Chief Financial Officer (CFO) and Key Managerial Personnel. The resignation became effective at the close of business hours on January 30, 2026. Mr. Saraf cited personal reasons and the pursuit of other professional opportunities as the primary reasons for his departure. The company had previously notified the exchanges of this transition on January 29, 2026, and has now submitted the formal resignation letter.
Key Highlights
Mr. Narayan Saraf ceased to be the CFO and Key Managerial Personnel effective January 30, 2026.
The resignation letter was formally dated January 28, 2026, and submitted to the board.
Departure is attributed to personal reasons and the pursuit of other professional opportunities.
The company confirmed there are no other material reasons for the resignation beyond those stated.
💼 Action for Investors
Investors should monitor the company's upcoming announcements regarding the appointment of a new CFO to ensure a smooth transition in financial leadership. While management changes can create temporary uncertainty, the impact will depend on the profile and experience of the successor.
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JB Chemicals CFO Narayan Saraf Resigns; Effective January 30, 2026
JB Chemicals & Pharmaceuticals Limited has announced the resignation of its Chief Financial Officer, Mr. Narayan Saraf. The resignation was tendered on January 28, 2026, and is set to be effective from the close of business on January 30, 2026. The company cited personal reasons and the pursuit of other professional opportunities as the cause for his departure. Notably, the transition period appears extremely short, with the announcement coming just one day before the effective date.
Key Highlights
Mr. Narayan Saraf resigned as CFO and Key Managerial Personnel on January 28, 2026.
The resignation is effective from the closing of business hours on January 30, 2026.
Reasons for resignation are cited as personal and to pursue other professional opportunities.
The company confirmed there are no other material reasons for the sudden departure.
The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015.
💼 Action for Investors
Investors should monitor the company's next steps regarding the appointment of a successor to ensure leadership continuity. The abruptness of the CFO's exit warrants a cautious watch on the upcoming quarterly financial reporting process.
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JB Pharma Q3 FY26 Net Profit Jumps 22% to ₹198 Cr; Gross Margins Expand to 69.1%
JB Chemicals & Pharmaceuticals (JB Pharma) delivered a solid Q3 FY26 performance with revenue rising 11% YoY to ₹1,065 crore and net profit surging 22% to ₹198 crore. Profitability improved significantly as gross margins expanded 200 bps to 69.1% and EBITDA margins reached 28.7%. The domestic formulation business grew 10%, continuing to outperform the Indian Pharma Market (IPM), while international formulations grew 20%. Management reiterated its FY26 operating margin guidance of 27-29% and noted the Torrent merger is on track for Q4 closure.
Key Highlights
Revenue grew 11% YoY to ₹1,065 crore, driven by domestic and international formulation growth.
Net profit increased 22% to ₹198 crore, supported by a 200 bps expansion in gross margins to 69.1%.
Domestic formulations revenue stood at ₹620 crore, representing a 10% YoY growth and outperforming the market.
International formulations grew 20% to ₹306 crore, led by strong performance in Russia, South Africa, and the US.
Management maintained operating margin guidance of 27-29% for FY26 despite a flat CDMO performance due to a high base.
💼 Action for Investors
The company remains a strong play on domestic market outperformance and margin expansion through product mix optimization. Investors should monitor the Torrent merger closure in Q4 for potential long-term synergies.
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Torrent Pharma Completes 46.39% Stake Acquisition in JB Chemicals; Gains Control
Torrent Pharmaceuticals has finalized the acquisition of a 46.39% stake (7,44,81,519 shares) in JB Chemicals from Tau Investment Holdings. With this completion, Torrent Pharma has officially assumed control of the company, while the former promoter, Tau Investment, has exited its entire holding. The reclassification of Tau Investment from 'promoter' to 'public' category is effective from January 21, 2026. This move follows the share purchase agreement dated June 29, 2025, and a subsequent open offer.
Key Highlights
Acquisition of 7,44,81,519 shares (46.39% stake) by Torrent Pharmaceuticals completed on Jan 21, 2026
Tau Investment Holdings has ceased to be a promoter and now holds zero equity shares in the company
Torrent Pharma has officially acquired control of JB Chemicals & Pharmaceuticals Limited
Reclassification of the outgoing promoter to the 'public' category is now effective under SEBI regulations
💼 Action for Investors
The entry of Torrent Pharma as the new promoter is a significant milestone that could drive long-term value through operational synergies. Shareholders should stay invested and watch for upcoming strategic announcements from the new management.
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Torrent Pharma Completes 46.39% Stake Acquisition in JB Chemicals; Becomes New Promoter
Torrent Pharmaceuticals Limited has officially completed the acquisition of 7,44,81,519 equity shares, representing a 46.39% stake in JB Chemicals & Pharmaceuticals. Following this transaction, Torrent has assumed control of the company and is now classified as the new promoter. The previous promoter, Tau Investment Holdings, has exited its entire holding and has been reclassified into the 'public' category effective January 21, 2026. This follows a mandatory open offer process where Torrent acquired a negligible 1,317 shares from public shareholders.
Key Highlights
Torrent Pharmaceuticals acquired 7,44,81,519 equity shares (46.39% stake) from Tau Investment Holdings.
Tau Investment Holdings has ceased to be in control and now holds 0% equity in the company.
The change of control and promoter reclassification became effective on January 21, 2026.
Torrent's open offer for 26% of expanded capital resulted in the acquisition of only 1,317 shares from public shareholders.
The transaction was executed under a Share Purchase Agreement (SPA) dated June 29, 2025.
💼 Action for Investors
Investors should view this change in leadership as a positive long-term development given Torrent Pharma's strong domestic execution capabilities. Monitor upcoming quarterly results for any management commentary on operational synergies and integration plans.
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Torrent Pharma Acquires 46.39% Stake in JB Chemicals; CEO Nikhil Chopra to Exit
Torrent Pharmaceuticals has officially completed the acquisition of a 46.39% stake (7.44 crore shares) in JB Chemicals from Tau Investment Holdings, taking over as the new promoter. This change in control has triggered a board reconstitution, including the resignation of three non-executive directors. Significantly, the current CEO and Whole-time Director, Nikhil Chopra, has resigned, with his tenure as CEO ending on March 31, 2026. This transition marks a major shift in the company's ownership and leadership structure.
Key Highlights
Torrent Pharmaceuticals acquired 7,44,81,519 equity shares, representing 46.39% of the company.
Torrent Pharma is now the 'Incoming Promoter' with full management control of JB Chemicals.
CEO Nikhil Chopra resigned as Whole-time Director immediately and will exit as CEO on March 31, 2026.
Three non-executive directors (Gaurav Trehan, Akshay Tanna, and Prashant Kumar) have resigned from the Board.
Outgoing promoter Tau Investment Holdings has been reclassified to the 'Public' category.
💼 Action for Investors
Investors should closely monitor the leadership transition and the announcement of a new CEO, as the outgoing CEO was a key driver of recent performance. The integration with Torrent Pharma's existing business will be a critical factor for long-term value.