Morepen Laboratories Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2024

1'The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on May 21, 2024. The statutory Auditors have carried out the Audit for the year ended March 31, 2024.



2'The figures for the quarter ended March 31, 2024 and March 31, 2023 are the balancing figures between audited figures in respect of the full financial year and the unaudited published year to date figures upto the third quarter ended December 31, 2023 and December 31, 2022.



3.'During the year, the company has transferred the Branded Formulation (Rx) Business to its 100% subsidiary, Morepen Rx Limited, vide business transfer agreement dated 22nd August, 2023 as a going concern for lump sum consideration of Rs. 703.23 lakhs on a slump sale basis. The company has acquired 70,82,356/- equity shares of Morepen Rx Limited, of Rs. 10/- each, at par, as consideration for transfer of branded formulation business.



4.'The Company is engaged in the Pharmaceutical Business Segment.