Wockhardt Limited has informed the Exchange regarding Appointment of Mr. Om Prakash Bhatt as Non- Executive Independent Director of the company w.e.f. November 03, 2025.
WOCKPHARMA · price
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Wockhardt's Board approved the appointment of Mr. Om Prakash Bhatt, former Chairman and CEO of State Bank of India, as a Non-Executive Independent Director for a 5-year term starting November 3, 2025. The company also reported its Q2 FY26 results, swinging to a standalone profit of Rs 54 crore from a loss of Rs 36 crore a year ago, on revenue of Rs 380 crore. On a consolidated basis, profit after tax stood at Rs 82 crore versus a loss of Rs 16 crore last year, though total income dipped to Rs 803 crore from Rs 818 crore. The group booked an exceptional charge of Rs 97 crore linked to the deconsolidation and impairment from its US step-down subsidiaries, Morton Grove Pharmaceuticals Inc and Wockhardt USA LLC, which filed for voluntary liquidation under Chapter 7 of the US Bankruptcy Code on July 11, 2025.
Adding a high-profile former SBI chief as an independent director is a positive signal for board quality and governance. The swing back to profitability is encouraging, but the exit from the US generics business via bankruptcy and the Rs 97 crore exceptional drag are negatives that investors should weigh in.