FUTURE AJANTA PHARMA Chairmans Speech

DEAR SHAREHOLDERS,

Our strategy of ''The Right Things at the Right Time'' focuses on
identifying opportunities and capitalising on them ahead of others. We
have been consistently following this approach and have been largely
successful in our endeavour. With this strategy, we have been able to
be among the leaders in the markets where we are present. All our
businesses continue to perform in-line with our expectations. We remain
committed and focused on existing geographies and therapeutic segments
to drive above industry growth consistently. We continue to take
proactive steps and make right investments in infrastructure -
manufacturing and R&D - at the right time.

Last decade has been particularly significant for us as we grew at 23%
CAGR, on the back of our branded generic business in India and Emerging
markets, registering a strong performance and building a sustainable,
scalable and profitable business model.

Understanding the market, applying science with commitment and the
passion to deliver the best cures are inherently present in our DNA. We
have over 1,400 products registered currently, and over 1,600 products
are waiting for approval in various countries.

We have built various manufacturing facilities meeting the global
standards and continue to raise the bar in meeting regulatory
compliances.

We have acquired the competence in the formulation development space
and continue to climb the value chain in developing complex products.

We will consistently focus on building the right capabilities

and competencies to cater to the emerging and unmet needs across the
globe. Ajanta will continue to harness potential across global markets
and generate sustainable value for all stakeholders.

Sincerely,

YOGESH AGRAWAL

Managing Director

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