Biocon Limited announced the outcome of its Board Meeting held on May 07, 2026. The Board approved the audited financial results (standalone and consolidated) for the quarter and financial year ended March 31, 2026, along with the Auditors' Report. A final dividend of 10%, or ₹0.50 per equity share of ₹5 face value, was recommended for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The record date for this dividend has been fixed as Friday, July 03, 2026, with the payment scheduled on or before August 31, 2026. In a significant decision, the Board recommended the appointment of M/s. S. R. Batliboi & Associates LLP as the new Statutory Auditors for a term of five years, commencing from the conclusion of the 48th AGM until the 53rd AGM in 2031, replacing the retiring auditors, M/s. B S R & Co. LLP. The 48th AGM is scheduled for Thursday, August 06, 2026, conducted via Video Conferencing/Other Audio-Visual Means. The Board also approved the designation of Dr. Anuj Goel (Chief Development Officer) and Mr. Susheel Umesh (Chief Commercial Officer – Emerging Markets and Head of Global API & Global BD) as Senior Management Personnel. Furthermore, Ms. Rekha Mehrotra Menon was re-appointed as an Independent Director for a second term of five years from August 06, 2026, to August 05, 2031, subject to shareholder approval. In line with the integration of Biocon Biologics Limited (BBL), the Board recommended the appointment of Mr. Rajiv Malik, Mr. Daniel Bradbury, Mr. Peter Baron Piot, Mr. Arun Suresh Chandavarkar, and Ms. Nivruti Rai as Independent Directors, and Mr. Thomas Jason Roberts as a Non-Executive Non-Independent Director, all effective from August 01, 2026, until the conclusion of the 50th AGM in 2028, subject to shareholder approval. The Board approved the acquisition of the remaining equity shares of BBL from its shareholders through a preferential issue of up to 87,92,317 equity shares of Biocon Limited at ₹376.16 per share, aggregating to ₹330.73 Crores. This transaction, subject to shareholder approval, is expected to be completed by June 30, 2026. Additionally, the Board approved the conversion of 1,125 Optionally Convertible Debentures (OCDs) and 1,06,86,044 Compulsorily Convertible Debentures (CCDs) of BBL into equity shares. Biocon also approved the formulation and implementation of the Biocon Unity Long Term Incentive Plan 2026, encompassing various stock-based incentive plans, subject to shareholder approval.
