Disclosure
Awaiting price reaction for this filing.
The Board of Directors of MPS Pharmaa Limited (formerly Advik Laboratories) approved the permanent retrenchment of 10 factory workers at its manufacturing facility in Roz-Ka-Meo Industrial Area, Sohna, Haryana, effective April 2, 2026. The decision is part of a workforce rationalization exercise aimed at diversifying the company's business into manufacturing Ayurvedic, Unani, and Homeopathic medicines, drugs, and Nutraceutical products. The company cited evolving market trends and growing consumer demand for natural healthcare solutions as the rationale. The retrenchment is being carried out in compliance with the Industrial Relations Code, 2020, and all statutory dues and compensation are being paid to affected workers. The company had earlier intimated the stock exchange about the proposed diversification on September 2, 2025.
This signals a strategic pivot by the company away from its current manufacturing line toward natural and alternative healthcare products. While the retrenchment is small (only 10 workers), shareholders should note the shift in business focus. Financial impact is described as a move to optimize employee-related costs, with new skilled workforce likely to be hired for the revised operations.