The Board of Directors in its meeting held on Saturday, September 30, 2023 has discussed and agreed to provide in principle approval to explore appropriate actions including Merger, Acquisition or other suitable arrangement options for restructuring businesses of Mangalam Laboratories Private Limited and Shri JB Pharma Private Limited to align with long term objectives of the Company. Necessary intimation as required under regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 shall be furnished on final approval of Board of Directors of the Company.