Biocon Limited announced the outcome of its Board of Directors 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. Additionally, the Board recommended a final dividend of 10%, or Re. 0.50 per equity share of face value Rs. 5, 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 move, the Board recommended the appointment of M/s. S. R. Batliboi & Associates LLP as the new Statutory Auditors for a term of five years, replacing the retiring M/s. B S R & Co. LLP. The appointment is subject to shareholder approval at the ensuing 48th AGM. 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. Several changes in directorship were approved, including the re-appointment of Ms. Rekha Mehrotra Menon as an Independent Director for a second five-year term starting August 06, 2026. Furthermore, to facilitate the integration of Biocon Biologics Limited (BBL), Mr. Rajiv Malik, Mr. Daniel Bradbury, Mr. Peter Baron Piot, Mr. Arun Suresh Chandavarkar, and Ms. Nivruti Rai were approved for appointment as Independent Directors, and Mr. Thomas Jason Roberts as a Non-Executive Non-Independent Director, all effective August 01, 2026, subject to shareholder approval. The Board also approved the acquisition of the remaining ~2% equity share capital of its material subsidiary, Biocon Biologics Limited (BBL), from its employees and other shareholders. This acquisition will be discharged through a preferential issue of up to 87,92,317 equity shares of Biocon Limited at an issue price of Rs. 376.16 per share, aggregating to approximately Rs. 330.73 Crores. This transaction is expected to be completed by June 30, 2026, subject to shareholder and stock exchange approvals. Further approvals were granted for the conversion of Optionally Convertible Debentures (OCDs) and Compulsorily Convertible Debentures (CCDs) of BBL into equity shares. The company also approved the formulation and implementation of the Biocon Unity Long Term Incentive Plan 2026 and related sub-plans, subject to shareholder approval. The 48th AGM of the Company is scheduled to be held on Thursday, August 06, 2026, through Video Conferencing/Other Audio-Visual Means.
