Interim report
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CIN: L24297MH2020PLC338592 Registered Office: Ananta Building, Piramal Corporate Park, Opp. Fire Brigade, Kamani Junction, LBS Marg, Kurla (West), Mumbai – 400070, Maharash tra, India Tel No. +91 22 3802 3000 / 4000; Email Id: shareholders.ppl@piramal.com www.piramalpharma.com 29th July, 2026 BSE Limited P.J. Towers, Dalal Street, Fort, Mumbai- 400 001 BSE scrip code: 543635 National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051 NSE symbol: PPLPHARMA Sub: Outcome of Board Meeting of Piramal Pharma Limite d (‘Company’) held on 29th July, 2026 Dear Sir / Madam, Kindly refer to our letter dated 20th July, 2026 on the subject. Pursuant to the provisions of Regulation 33 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), the Board of Directors of the Company at its meeting held today, i.e. 29th July, 2026, has inter alia, approved the Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter ended 30th June, 2026. In this regard, please find enclosed the following: a. Unaudited Financial Results (Standalone & Consolidated) for the quarter ended 30 th June, 2026; b. Limited Review Reports by the Statutory Auditors. Further, we are arranging to publish the above-m entioned financial result s in newspapers as per Regulation 47 of the SEBI Listing Regulations. The ab ove information is al so available on the website of the Company at www.piramalpharma.com. The meeting of the Board of Directors commenced at 5:30 pm and concluded at 8:30 pm. You are requested to take the above information on record. Yours truly, For Piramal Pharma Limited Maneesh Sharma Company Secretary & Compliance Officer Encl.: a/a Piramal Pharma Limited 1k Piramal '!V Pharma Limited
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Piramal Pharma Lim ited PIRAMAL PHARMA LIMITED Ananta Building, Piramal Corporate Park, Opposite Fire Brigade, Kamani Junction, LBS Marg, Kurla (West), Mumbai - 400 070 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2026 (Rs. in Crores) Three months ended Three months ended Three months ended For the year ended Particulars June 30, 2026 March 31, 2026 June 30, 2025 March 31, 2026 (Unaudited) C Refer note 5 l (Unaudited) (Audited) Revenue from operations 1,124.95 1,489.06 969.88 4,782 .01 Other income (Net) 114.63 183.69 180.92 662.73 Total Income 1,23g_58 1,672.75 1,150.80 5,444.74 Expenses Cost of materials consumed 649.70 234.93 409.76 1,342.70 Purchases of stock-in -trade 234.64 194.03 192.27 866.18 Changes in inventories of finished goods, work-in-progress and (390 .29) 225.25 (175 .87) (138 .98) stock-in-trade Employee benefits expense 216.34 166.55 201.95 744.82 Finance costs 16.36 19.50 23.23 79.95 Depreciation & amortisation expense and impairment charge 65.73 70.12 59.44 255.50 Other expenses (Net) 297.62 364.95 297.44 1,325.29 Total Expenses 1,090 .10 1,275 .33 1,008.22 4,475 .46 Profit before exceotional items and tax 149.48 397.42 142.58 969.28 Exceotional items /Refer Note 31 - /65.571 - /92.51 Profit before tax 149.48 331 .85 142.58 876.77 Tax Expense Current tax-(induding prior year taxes) 24.93 43.11 19.63 114.68 Deferred tax (Net) 11.07 27.11 9.81 62.08 Total tax exoenses 36.00 70.22 29.44 176.76 Net Profit after tax 113.48 261.63 113.14 700.01 Other Comprehens ive Income/ (Loss) (OCI), net of tax expense A. Items that will not be reclassified to profit or loss Remeasurement of post employment benefit plans (9.76) (10.19) (4.87) (12.50) Income tax impact on above 2.46 2.56 1.23 3.15 B. Items that wlll be subsequently reclassified to profit or loss Deferred gains/(loss) on cash flow hedge 3.07 (3.35) 1.24 (35 .25) Income tax impact on above (0.77) 0.84 (0.31) 8.87 Total Other Comprehensive Income/ (Loss), net of tax (5.00) (10 .14) (2.71) (35 .73) expense Total Comprehensive Income for the period 108.48 251.49 110.43 664.28 Paid-up Equity Share Capital (Face Value of Rs. 10/- each) 1,327.35 1,327.16 1,324.82 1,327.16 Other Equity 6,813 .97 Earnings Per Equity Share (EPS) (Face Value of Rs. 10/- each) (restated, not annualised for the quarters) a) Basic EPS for the period/year (Rs.) 0.85 1.97 0.85 5.28 b) Diluted EPS for the period/year (Rs.) 0.85 1.96 0.85 5.25 "D'l"°'AI?~,? See accompanying notes to the unaudited standalone financial results ~ ... < ~ ~ ~~· ~~ d, ..., Piramal Pharma Limited ,,.'¥ o"> * CTN~ L 242.9 . ifH2020PLC33859-2 Office : Anan!a Bmldmg, Pir.amal Corp,mil:e Park; Ow. Fm, Briga.de·, Kmsa,,i J~io:i, LB'8 Y,,,f:u.g, K"'~ {\Wrt), Mumh:ii-400070, 11.fam.rashlr.i; In,li ~ Tel No, -f'.91 2.HS02 3000 / 4000; Email.Id: sharehol<lers .. pp~,"1/lpiranul..com u.-wu.Lpinm1,p}1¥Il'lia oom
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Piramal Pharma Limited Notes: 1 The unaudited standalone financial results of the Company for the three months ended June 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on July 29, 2026. The Statutory auditors of the Company have carried out a limited review of these results . 2 The unaudited standalone financial results of the Company for the three months ended June 30, 2026 have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India . 3 There were no exceptional items during the quarter ended 30 June 2026. Exceptional items for the quarter and year ended 31 March 2026 aggregating Rs.92.51 crore comprised (i) impairment of an intangible asset under development of Rs.65.57 crore and (ii) incremental employee benefit cost of Rs.26.94 crore arising from the Company's assessment of the impact of the Labour Codes. 4 The Company operates in only one segment and hence segment disclosure is not applicable . 5 The figures for the last quarter of the previous financial year are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of third quarter of the previous financial year which were subjected to limited review by statutory auditors . July 29, 2026, Mumbai Piramal Pharma. Limited CTN· I.24297MH2(12J)PLC33S592 For PIRAMAL PHARMA LIMITED Nandini Piramal Chairperson ~"'ie,,ed. Oflke: .4nanta Building, Pir.amal Corporate Pairk:;: Qw. Fire Briga;de,Kamani J~ io:,, LBS I\fa1g, Kur~ (\Vert}, I\1mnba.i-400070, Mammbtra; India Tel No. -f'.9>1 2B S.Ol lOOO I 4000; Email.Id.: sbarehold= .pp ,~iramal= m .pin1nal,Pb:n:n:::a ron-1
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Suresh Surana & Associates LLP Chartered Accountants Surem SUrana & Associates U.P 508-309, Technopohs Knowledge Park Mahakah Caves Road, Andhen (E) Mumt>a, - 400 093, India T • 91 (22) 6108 5555 ema,lsCi')ss-assoaates com wwv, 1s-assoaates.com UP Identity No AAB-7509 Independent Auditor's Review Report on Quarterly Unaudited Standalone Financial Results Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements ) Regulations, 2015, as amended To The Board of Directors of Piramal Pharma Limited 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Piramal Pharma Limited ("the Company"), for the quarter ended 30 June 2026 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") . 2. This Company's management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 ("the Act") as amended, read with relevant Rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India . This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information is limited primarily to inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards specified under Section 133 of the Act, as amended read with relevant Rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed , or that it contains any material misstatement. a.cin..odllfflu .,,,."Jlh f MUikat~rt:.IVIN.111~F'Oril ""'t.~1 &O:>Ol tn •• t •'91 (ll ,~n 4-U4 I ■-
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Suresh Surana & Associates LLP Chartered Accountants Other Matter 5. We draw attention to the fact that figures for the corresponding quarter ended 30 June 2025, prepared in accordance with Ind AS and included in the Statement, are based on the previously issued unaudited standalone financial results which were reviewed by the predecessor auditor, who had expressed an unmodified conclusion thereon as per their limited review report dated 28 July 2025. Our conclusion on the Statement is not modified in respect of this matter. For Suresh Surana & Associates LLP Chartered Accountants Firm Reg. No. 121750W/W100010 / 1/ artner Membership No.: 143824 UDIN: 16/4,381.4-XH-Sl-tFV /+~7f? Place: Mumbai Date: 29 July 2026 I ■-
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Piramal Pharma Limited PIRAMAL PHARMA LIMITED Ananta Bulldlng, Plramal Corporate Park, Opposite Fire Brigade , Kamanl Junction, LBS Marg, Kurla (West), Mumbai - 400 070 STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2026 Three months Three months Particulars ended ended June 30, 2026 March 31, 2026 (Unaudited) ( Refer note 6) Revenue from ooerations 2 269.92 2 751.77 Other Income 89.41 46.06 Total Income 2 359.33 2 797 ,83 Exoenses Cost of Materials Consumed 724.77 482.59 Purchase of Stock-in-Trade 420.24 336.03 Changes in inventories of finished goods, work•in .. progress and stock (292 .74) 237.05 in-trade Emolovee benefits exoense 675.63 586.02 Finance Costs 88.08 82.99 Deoreciation amortisation and imoairment charQe 223.55 218.38 Other Exoenses (Netl 546.82 649.57 Total Exoenses 2 386.35 2 592.63 Pront/(Loss) before share or net profit or associates, (27.02) 205.20 exceptional Items and tax Share of net orofit of associates 19.56 13.58 Profit/ (Loss) before exceptional Items and tax (7.46) 218.78 Exceotional items (Refer Note 4 l - (175 .77) Profit/ (Loss) before tax (7.46) 43,00 Tax Exoense (11 Current Tax (includinQ orior veartaxesJ 65.35 25.70 r21 Deferred Tax rnetl (3.42) 26.13 Total Tax Exoense 61,93 51.83 Net Profit/ (Loss) after tax (69.39) (8.82) Other Comprehensive Income/(Loss) (OCI), net or tax expense A. Items that will not be reclassified to nrofit or loss (a) Remeasurement of Post Employment Benefit Plans (9.76) (10.19) Income Tax (expense)/ credit on above 2.46 2.56 B. Items that will be reclassified to profit or loss (a) Deferred gains/ (losses) on cash flow hedge 3.07 (3.06) (b) Exchange differences on translation of foreign operations (26.19) 192.80 (c) Share of other comprehensive income/ (expense) of associates - (0.13) accounted for using the equity method Income Tax (expense)/ credit on above (0.13) (18.70) Total Other Comprehensive Income/ (Loss) (OCI) for the (30.55) 163.29 period, net or tax expense Total Comprehensive Income/(Loss) for the period (99,94) 154.47 Profit/ Clossl for the nerlod attributable to: -Owners of the comoanv (69.391 (8.821 -Non- Controllino Interest - - Other Comprehensive Income/ (Loss) for the period attributable to: -Owners of the comoanv (30.551 163.29 -Non- Controllino Interest - - Total Comprehensive Income/ (Loss) for the period attributable to: -Owners of the comoanv (99.941 154.47 -Non- Controllino Interest - - Paid-uo Eouitv Share Caoital (face Value of Rs. 10/- eachl 1,327 .35 1,327.16 Other Equity Earnings Per Equity Share (EPS) (Face Value of Rs. 10/- each) (not annualised for the quarters) al Basic EPS for the oeriod/vear (Rs.J (0.52) (0.07) bl Diluted EPS for the oeriod/vear (Rs. J (0.521 (0.07) See accompanying notes to the unaudited Consolidated financial results Pir-:amal Pharma Limited CTN~ 124297MH202DPLC33S592 CRs in Croresl Corresponding For the Previous Three months year ended March ended June 30, 2025 31, 2026 (Unaudited) (Audited) 1 933.71 8 869.08 58.40 213.30 1992,11 9 082 ,38 524.35 1995.85 342.83 1 430 ,53 (173 .13) (187.84) 618.59 2 415.92 86.15 340.80 197.28 831.24 514.37 2 293.00 2110 .44 9 119 .50 (118,33) (37 . 12) 18.57 57.20 (99,76) 20.08 20.74 (196 .14) (79 ,02) (176 ,06) 34.22 162.11 (31.541 (12.23) 2,68 149 .88 (81.70) (325 ,94) (4.87) (12.50) 1.23 3.15 1.24 (34.95) 64.74 425.88 - (0.13) (18.20) (43.07) 44.14 338 ,37 (37,56) 12 ,43 (81.701 (325 .94) - - 44.14 338.37 - - (37.56) 12.43 - - 1,324.82 1,327.16 6,835.46 (0.62) (2.46) (0.62) (2.46) - --,..-. ,-...::=...,;,,~-:"· Ailaola Bwldmg, Pir.an:w Corporate Park; Ow. Fm, Brigade;· Kamani J~io:,, LB'8 l\.br.g, Knr~ (\WsQ, Mumbai-4000 0, M.iliaraililr.a; Indra Tel No. # 1 22 3802 1000 / 400'0; Email. Id: shareho.lders;.!'pl'.ifu,ir.anukom i'i."WW~piom2lp)1:nm; oom
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Piramal Pharma Limited Notes: 1 Standalone Information : (Rs. in Crores) Three months Three months Corresponding For the Previous Particulars ended ended Three months year ended ended June 30, June 30, 2026 March 31, 2026 2025 March 31, 2026 1. Total Income 1,239.58 1,672.75 1 150.80 5,444.74 2. Profit before tax 149.48 331.85 142.58 876.77 3. Profit after tax 113.48 261.63 113.14 700.01 2 The unaud ited consolidated financ ial results of the Company for the three months ended June 30, 2026 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on July 29, 2026. The Statutory auditors of the Company have carried out a limited review of these results. 3 The unaudited consolidated financial results of the group for the three months ended June 30, 2026 has been prepared in accordance with the recognition and measurement principles laid down in the Ind ian Accounting Standards as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India . 4 There were no exceptional items during the quarter ended 30 June 2026. Exceptional items for the year ended 31 March 2026, aggregating to Rs.196.14 crore (including foreign exchange impacts for overseas subsidiaries) comprised of- : i) impairment of an intangible asset under development of Rs.175.82 crore and ii) incremental employee benefit cost of Rs.26.94 crore arising from the Company's assessment of the impact of the Labour Codes. iii) One time settlement fees paid in quarter ended December 2025 for Rs.14.81 crore . iv) Recovery from insolvency proceedings of a vendor Rs. 21.43 crore . 5 The group operates in only one segment and hence segment disclosure is not applicable. 6 The figures for the last quarter of the previous financial year are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of third quarter of the previous financial year which were subjected to limited review by statutory audito rs. July 29, 2026, Mumbai Pir-:amal Pharma Limited CTN~ 124297MH20WPLC33S592 For Piramal Pharma Limited Nandini Piramal Chairperson Register.ed, Office: -~ Bw!dmg, Pir.a.m.al Corporate Park; Ow . Fira Brigade.,. Kaman:i J~ io:,, LBS l\,br.g, Kw:1i! (\VeisQ, Mumbai-4000 0, l\faharaililra; India Tel No, f9>1 223802 3000 / 400"0; Email.Id: shareholdera;.ppl'.);~pir.anul.rom i'i."WW.ri□mal_ph:nm; com
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Suresh Surana & Associates LLP Chartered Accountants Sur~ Surana & Associat~ UP 308-309, Technopohs Knowledge Parle Mahakah caves Road, Andhen (El Mumbai - 400 093, India T + 91 (22) 6108 5555 ema1ls@ss-assoaates com www ss-assooates.com UP Identity No. AAB-7509 Independent Auditor's Review Report on Quarterly Unaudited Consolidated Financial Results Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To The Board of Directors of Piramal Pharma Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Piramal Pharma Limited ("the Holding Company") and its subsidiaries (the Holding Company and its subs idiaries together referred to as "the Group "), and its share of profiU(loss) after tax and total comprehens ive income/(loss) of its associates for the quarter ended 30 June 2026 (the "Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, as amended (the "Listing Regulations"). 2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 ("the Act") as amended, read with relevant Rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company 's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information is limited primarily to inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. We have not performed an audit and accordingly, we do not express an audit opinion. We also performed the procedures in accordance with Circular No. CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities listed in Annexure 1 . 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard specified under Section 133 of the Act, as amended, read with relevant Rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. -•Olla 9 r ~ rtoct M.Ma, OUrrt.l V1 111.111man fllorlt ~N• c.ooan "11:1.1 ,~i111)r.u;:c.au ■ I
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Suresh Surana & Associates LLP Chartered Accountants Other Matters 6. We did not review the interim financial information I financial results of 11 subsidiaries included in the statement, whose interim financial information I financial results reflects total revenue of Rs.1,364.40 Crores, total net profiV{loss) after tax of (Rs.146.02) Crores and total other comprehensive income/(loss) of (Rs.169.87) Crores for the quarter ended 30 June 2026 respectively, as considered in the Statement. The interim financial information / financial results of these subsidiaries have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. 7. The Statement includes the interim financial information/ financial results of 9 subsidiaries, which have not been reviewed or audited by their auditors, whose interim financial information / financial results reflect total revenues of Rs.49.85 Crores, total net profit after tax of Rs.1.08 Crores and total other comprehensive income/(loss) of Rs.2.86 Crores for the quarter ended 30 June 2026 respectively, as considered in the Statement. The Statement also includes the Group's share of profit after tax of Rs.19.56 Crores and total comprehensive income of Rs.19.56 Crores for the quarter ended 30 June 2026 respectively, as considered in the Statement, in respect of 2 associates, based on their interim financial information I financial results which have not been reviewed by their auditors. These interim financial information / financial results have been certified by the Company's Management and furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associates, is based solely on certified financial statements. According to the information and explanations given to us by the Management, the interim financial information / financial results in respect of these subsidiaries and associates is not material to the Group. 8. We draw attention to the fact that figures for the corresponding quarter ended 30 June 2025, prepared in accordance with Ind AS and included in the Statement, are based on the previously issued unaudited consolidated financial results which were reviewed by the predecessor auditor, who had expressed an unmodified conclusion thereon as per their limited review report dated 28 July 2025. Our conclusion on the Statement is not modified in respect of matters 6, 7 and 8 above. For Suresh Surana & Associates LLP Chartered Accountants Firm Reg. No. 121750W/W100010 artner Membership No.: 143824 y 01, ?4- UDIN: 2 61 4-3 8 2.4- AN7- TW O '1' Place: Mumbai Date: 29 July 2026 ■-
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Suresh Surana & Associates LLP Chartered Accountants Annexure 1 to the Independent Auditor's Review Report (Referred to paragraph 4 under Independent Auditors' Review Report of even date) Sr. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. Name of the Entity Relationship Piramal Pharma Limited Holding Company Piramal Dutch Holdings B.V. (Formerly : Piramal Dutch Holdings N.V.) Subsidiary Piramal Critical Care Italia, S.P.A. Piramal Critical Care Deutschland GmbH Piramal Healthcare (Canada) Limited Piramal Healthcare UK Limited Piramal Critical Care B.V. Piramal Pharma Solutions (Dutch) B.V. Piramal Healthcare Inc. Piramal Critical Care Single Member PC Piramal Critical Care Limited Piramal Pharma Inc. Piramal Pharma Solutions Inc. PPL Healthcare LLC PPL Pharma Solutions Riverview LLC Piramal Critical Care Ply. Ltd. Piramal Critical Care South Africa (Ptv) Ltd Piramal Healthcare Pension Trustees Limited Piramal Critical Care, Inc. PPL Pharma Inc. Piramal Pharma II Private Limited Piramal Pharma Limited Emolovees Welfare Trust Yapan Bio Private Limited AbbVie Theraoeutics India Private Limited Subsidiary Subsidiary Subsidiary Subsidiary Subsidiarv Subsidiary Subsidiary Subsidiary Subsidiarv Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiarv Subsidiary Subsidiarv Associate Associate I ■-