Outcome of Board Meeting- Financial Results
BIOCON · price
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Biocon's Board approved audited financial results for Q4 and FY ended March 2026 (specific numbers not included in this filing), recommended a 10% final dividend (Rs. 0.50 per share), appointed S.R. Batliboi & Associates LLP as new statutory auditors replacing B S R & Co. LLP, designated Dr. Anuj Goel and Mr. Susheel Umesh as Senior Management Personnel, appointed six new directors (including five Independent Directors and Thomas Jason Roberts as Non-Executive Non-Independent Director), approved acquisition of remaining ~2% stake in subsidiary Biocon Biologics Limited (BBL) through a share swap of Rs. 330.73 Crores, and approved a Long-Term Incentive Plan. Post-acquisition, Biocon's holding in BBL will increase from ~99% to ~99.99%.
The appointment of Thomas Jason Roberts (son-in-law of Prof. Ravi Rasendra Mazumdar) as a Director constitutes a related party transaction requiring shareholder approval. The BBL acquisition via share swap will consolidate control over the biosimilars business and simplify corporate structure.