TTK Healthcare Ltd Directors Report

(Including Management Discussion and Analysis Report)

Your Directors have pleasure in presenting the 68^th Annual Report together with the Audited Financial Statements for the financial year ended March 31, 2026.

Financial Results:

(Rs. in lakhs)

	2025-26		2024-25
Profit before Depreciation, Exceptional Items & Tax		9,539.70		10,275.89
Less: Depreciation		875.95		833.37
Profit before Exceptional Items and Tax		8,663.75		9,442.52
Exceptional Items:
(i) Provision for Gratuity and Leave Salary as per New Wage Code	(757.87)
(ii) GST Refund	350.42
(iii) Profit on sale of Leasehold land	_		1,977.05
(iv) Write-off Inventories (Male Contraceptives)	_	(407.45)	(586.39)	1,390.66
Profit Before Tax		8,256.30		10,833.18
Less: Tax expense:
Current Tax	2,190.00		2,655.00
Tax relating to earlier years (Net)	(461.52)		_
Deferred Tax	(40.23)	1,688.25	12.49	2,667.49
Profit after Tax		6,568.05		8,165.69
Surplus Account:
Balance as per last Balance Sheet		94,013.97		87,462.58
Add: Profit for the year	6,568.05		8,165.69
Other Comprehensive Income for the year (Net of Tax)	104.76	6,672.81	(201.27)	7,964.42
Total		1,00,686.78		95,427.00
Less: Dividend Paid		1,413.03		1,413.03
Net Surplus		99,273.75		94,013.97

Review of Performance:

During the year under review, Revenue from Operations amounted to Rs.857.28 crores as against the previous years figure of Rs.801.49 crores, a growth of around 7%.

Profit before Exceptional Items and Tax amounted to Rs.86.64 crores as against the previous year figure of Rs.94.43 crores.

Due to loss of institutional / tender businesses particularly from USAID, Protective Devices Division (PDD) reported a lower profit as compared to the previous year and this has mainly impacted the overall profit of the Company for the year under review.

After reckoning the Exceptional Items relating to (i) the provisions made for Gratuity and Leave Salary as per New Wage Code; and (ii) GST Refund, the Profit before Tax stands at Rs.82.56 crores. [Previous Year - Rs.108.33 crores].

A detailed review is presented under the Section “Segmentwise Performance". Dividend:

Your Directors are pleased to recommend a dividend of Rs.10 (100%) per Equity Share of Rs.10 each for the year ended March 31, 2026. [Previous Year - Rs.10.00 (100%) per Equity Share of Rs.10 each].

The dividend pay-out is in accordance with the Companys Dividend Distribution Policy.

Share Capital:

The Paid-up Equity Share Capital as on March 31, 2026 was Rs.1,413.03 lakhs. Your Company has not issued any shares with differential voting rights nor granted stock options nor sweat equity.

MANAGEMENT DISCUSSION AND ANALYSIS:

(A) INDUSTRY STRUCTURE AND DEVELOPMENTS:

• India continues to remain one of the fastest-growing major economies, with GDP growth projected at around 6.5% for FY 2026. [Source: IMF]

• Despite challenges arising from global trade uncertainties, geopolitical tensions, inflationary pressures and supply chain disruptions, the Indian economy continues to demonstrate resilience supported by strong domestic consumption, government- led infrastructure investments, digital transformation and manufacturing-focused initiatives such as Make in India and Production Linked Incentive (PLI) Schemes. Continued emphasis on healthcare accessibility, rural development and consumer spending is expected to support long-term economic growth across sectors.

• The Company operates in more than one segment viz., Consumer Products, Animal Welfare Products, Medical Devices, Protective Devices (Male Contraceptives) and Foods.

• Though Deodorant as a category has reported a decent growth driven by both No Gas and Roll On formats, Aerosol format continued to grow at a slower pace.

• Commercial Male Contraceptives market reported a volume growth of 13% and value growth of 17% during 2025. [Source: AC Nielson MAT - Dec 2025].

• The Home Care segment continued to witness stable demand during the year, driven by increasing consumer focus on hygiene and household wellness. Growth in modern trade and e-Commerce channels also supported category expansion.

• The Animal Welfare Products industry continued to grow steadily, driven by increasing pet ownership, rising awareness regarding animal healthcare, preventive care, nutritional products and veterinary services. The market is estimated to maintain growth in the range of 9-10%, supported by increasing expenditure

on companion animal care and growth in organized veterinary infrastructure.

• The Medical Devices segment continued to report positive growth trends owing to rising healthcare awareness, increased diagnostic penetration, expanding hospital infrastructure and higher demand for quality healthcare products. Government initiatives aimed at strengthening domestic manufacturing and improving healthcare accessibility are also expected to contribute positively to the longterm growth of the sector.

• The Foods segment continued to benefit from changing consumer lifestyles, increasing demand for convenience and nutrition- focused products and expansion in modern trade and e-Commerce channels. Growing preference for branded and hygienic food products is expected to further support industry growth.

(B) OPPORTUNITIES AND THREATS

Opportunities:

• Your Company has the unique advantage of an exclusive network for distribution of FMCG / OTC products. This can be leveraged for launch of new products so as to ensure improved profitability and value creation through brand building.

• In view of the increasing spend by Pet parents on Pet / Companion Animals over the years, this segment of the Animal Welfare Division (AWD) offers good potential for growth.

• On Medical Devices front, the market continues to be dominated by imported medical devices / implants. Since your Company manufactures world class products and these are priced competitively, this segment provides opportunity for growth.

• The "Make in India" and the "Atmanirbhar Bharat Abhiyaan" (Selfreliant India) initiatives by the Government of India would further enhance the growth prospects for this Segment and provide further fillip to the indigenous manufacture of medical devices. These products also have export potential.

• The Central Governments Medical Insurance Scheme - Ayushman Bharat being implemented to cover poor families is also likely to increase the number of treatment procedures which would, in turn, improve the demand for medical implants viz. Heart Valves and Ortho Implants manufactured by your Company.

• The male contraceptives segment offers decent volumes in both domestic and international markets and this could be leveraged to grow the business.

• Considering the size of the market for food products, the Foods Business of your Company has potential for growth, both in the domestic / overseas markets.

Threats:

• The escalation / volatility in the input costs of Agri-based products like Maida, etc., may have an adverse impact on the realizations / profits of the Foods Division, to the extent such increase could not be passed on to the trade / consumers.

Nevertheless, this is mitigated through forward contract for key raw materials and enhanced focus on export markets and also launch of innovative and differentiated products with better realizations.

• The prevailing Geopolitical instability and also the West Asia crisis, if continues, would have a significant impact on the cost / availability of various input materials, thus impacting the profitability and may also lead to supply chain disruptions impacting the overall business.

(C) SEGMENTWISE PERFORMANCE:

Your Company is engaged in Consumer Products, Animal Welfare Products, Medical Devices, Protective Devices, Pleasure Products and Foods Businesses.

A look at the performance of individual Business Segments:

Consumer Products Business:

The Consumer Products Division (CPD) reported a revenue from operations of Rs.241.28 crores (excluding Skore), with a negative growth of around 1.50%.

Woodwards Gripewater (WGW)

The year 2025-26 was challenging for Woodwards Gripe Water, with a decline in volumes, mainly in the Southern markets. However, e-Commerce and modern trade emerged as strong growth drivers, though on a lower base.

In response, focused strategic actions were taken to rebuild brand momentum and improve relevance. The national campaign "I Am Woodwards Baby" was launched to reinforce product safety, backed by strong social proof of generations of usage. This was supported by targeted regional activations including a high-impact digital push in Tamil Nadu and an integrated print, consumer offer and contest-led campaign in the West.

As part of the brands expansion strategy, Woodwards Tummy Roll-On was introduced on e-Commerce platforms, marking the brands entry into the "Care" segment and strengthening its positioning as a "Tummy Care Expert."

The strategy for the year 2026-27 is centred on enhancing brand relevance and drive earlier adoption among new-age parents.

Key initiatives include (i) Introduction of a new communication platform centred on the insight that infant tummies are still developing and require gentle support. The campaign will be driven through a main brand film and digital content aimed at educating parents about gripe water, its ingredients, benefits, usage and role in infant tummy care; (ii) Expansion beyond the current consumption window and building long-term growth - the brandwill strengthen its positioning in the "Tummy Care Expert" space. A new "Care" range, commencing with Tummy Tonic is proposed to be launched initially in Tamil Nadu, supported by focused media campaigns and structured paediatric engagement programmes to build awareness and credibility; (iii) Distribution of Tummy RollOn will also be expanded beyond e-Commerce into Q-commerce and specialty pharmacy channels.

These initiatives reflect the Companys continued efforts to transform Woodwards from a single-product offering into a comprehensive tummy care brand while retaining its strong legacy of trust and consumer confidence.

EVA

Brand EVA has reported a negative growth of around 4% during the year under review.

EVA continued to strengthen its relevance among young female consumers during the year through focused brand-building and portfolio renovation initiatives.

Sustained brand visibility through media-led campaigns, including communication around the Roll-on range anchored on the "No Aluminium, No Alcohol" proposition, reinforcing EVAs skin-friendly positioning.

A key development was the introduction of the EVA 2.0 packaging architecture, led by the refresh of the flagship 125 ml deodorant pack. The new packaging has been designed to deliver stronger shelf visibility, improved variant identification and a more contemporary brand expression, while retaining EVAs established skin-friendly and feminine brand equities.

This initiative formed an important step in modernizing the core franchise and creating a stronger foundation for future growth.

The strategy for the year 2026-27 would be to (i) strengthen the core 125 ml franchise; (ii) improve portfolio quality through sharper SKU rationalization; (iii) enhance market execution across key channels; (iv) focus on building visibility, improving availability of hero packs and driving a more disciplined channel strategy; (v) develop adjacent growth platforms such as perfumes and other selective line extensions; and (vi) improve brand salience, sharpen execution and build a more modern, efficient and growth-oriented portfolio for the future.

Skore

During the year under review, Skore Condoms demonstrated resilient performance, recording a 6% value growth over the previous year while sustaining volumes despite headwinds in traditional trade channels.

The E-Commerce vertical was a clear highlight, delivering a strong growth and cementing its role as a significant growth driver for the brand.

The strategy for the year 2026-27 would be to (i) accelerate growth through premium product launches across both traditional trade and e-Commerce channels; and (ii) build Brand Awareness - Amplifying consumer reach through sustained media campaigns / activations to deepen brand salience.

Good Home

Good Home continued its growth trajectory, registering a 9% increase in revenue over the previous year.

The Aroma Range emerged as the top-performing category with a significant growth. Backed by two impactful mini campaigns with unique positioning of "Good Home Aroma - Bathroom Ko Banaye Fresh Room" - the initiative garnered significant views and strengthened Aromas emotional connect.

The Clean Home Range marked a significant milestone in its second year, expanding its portfolio to 15 SKUs.

The Phase II launch, which introduced mops, toilet brushes and kitchen wipers, received strong acceptance from both trade and consumers. This not only validated the range extension but also enabled a meaningful expansion of its footprint across retail shelves.

This year the brand garnered further acceptance in e-Commerce and Modern Trade with decent volumes.

The strategy for the year 2026-27 would be to sustain and accelerate the positive momentum, through (i) distribution expansion across new channels such as HORECA and car accessories stores; (ii) launch of innovative and premium extensions - including Aroma Breeze, Aroma Luxe (premium fine fragrance) and Innovative Floor Cleaner; and (iii) strengthening digital presence by expanding listing and activations on e-Commerce and Q-commerce platforms, ensuring higher visibility and conversion across online touchpoints.

Animal Welfare Business:

The Animal Welfare Division (AWD) reported revenue from operations of Rs.141.08 crores for the year under review, reflecting a growth of around 12%. While growth in the first half of the year stood at 6%, momentum picked up significantly in the second half, achieving a growth of 17% and driving the overall annual performance.

Among the segments, Bovianim (Livestock) recorded a recovery with growth of around 14% after three challenging years. Gallus (Poultry) delivered steady performance with a growth of approximately 12%. Aquanim (Aquaculture) showed strong progress, registering an impressive growth of about 33%, though on a lower base. Companim (Pet Care), however, faced setbacks due to market-related challenges and attrition, resulting in a modest growth of 5%.

The strategy for the year 2026-27 would be to (i) strengthen the flagship brands - Orcal-P, Tefroli, Ossomin and Nutrivel (OTON) - through farm approach programs, Key Opinion Leader (KOL) engagements and enhanced prescription support; (ii) drive faster growth by bifurcating the Bovianim Division into Bovicare (Feed Supplements) and Bovicure (Therapeutics); (iii) accelerate the Companim portfolio by relaunching Hug&Wag (Pet Cosmetics) with a refreshed packaging and strategy and by finalizing outsourcing and imports for Waggy Bites (Pet Treats); (iv) strengthen the channel expansion by enhancing e-Commerce and Q-commerce capabilities, alongside expanding retail presence; and (v) drive portfolio expansion through targeted new product introductions (NPD) to generate incremental revenue.

Medical Devices Business:

Heart Valve Division

During the year under review, Heart Valve Division recorded a revenue from operations of Rs.29.81 crores, with a growth of around 2%.

Consequent to the Russia-Ukraine conflict, supply of CardiaMed BiLeaflet Valves was impacted; however, a few batches of CardiaMed Valves were subsequently imported directly from the Russian manufacturer.

The Single-Centric Pilot Study of the improved TC2 TTK Chitra Titanium Heart Valves covering 40 patients has been completed and the three- year follow-up results till date show excellent performance.

The Company is planning to commence pivotal studies involving around 400 patients upon receipt of necessary funding approval from BIPP and the required regulatory approvals.

In view of the constraints in the availability of CardiaMed Valves, the focus would be to grow the volumes of TTK Chitra Heart Valves.

Ortho Division

The Ortho Division reported revenue from operations of Rs.77 crores, registering a growth of 27%, with strong performance across regions. Tamil Nadu, West Bengal and Gujarat led the growth, while Punjab, Delhi, Andhra Pradesh and Telangana continued their growth trajectory and Kerala maintained consistent performance over the previous year, with all States adding new accounts and expanding existing accounts.

New markets expansion in the regions of East, West and North responded positively and achieved traction.

The new fixed bearing knee implant Citius" was introduced in select markets in the regions of East, North and South, to assess market acceptance and received encouraging response with around 350 surgeries completed during the year under review.

The introduction of TiN-coated CoCr implants (Buechel Pappas) improved product margins; the Hip Implants business registered a healthy growth, driven by market adoption and expansion of the distribution network, with increased adoption of the Ceramic Head option imported from Ceramtec, Germany.

The strategy for the year 2026-27 would be to (i) Roll out Citius to the rest of the country; (ii) Expand field force to service the requirement of increased market coverage with Citius implant; (iii) Roll out Revision Hip Implant system; (iv) Soft Launch of the fixed bearing TiN coated implants (Fortius); (v) Speed up implant production with expansion of the existing production facility at Chrompet; (vi) Expand manufacturing automation for speed, efficiency and cost control; and (vii) Initiate development of new products such as Ankle replacement implants, Unicondylar Knee Replacement Implants, etc.

Protective Devices Business:

The Division reported revenue from operations of Rs.216.50 crores (including Skore), reflecting a growth of around 5% .

The year started on a challenging note due to the stoppage of business from USAID and also non-establishment of the Long-Term Agreement with UNFPA. However, with the addition of new customers, the Division reversed the downward trend and ended the year with a decent performance.

Your Company continues to be one of the pre-qualified suppliers under the WHO-UNFPA Pre-Qualification Scheme for Male Latex Condoms, a critical requirement for supplying to leading international aid agencies and participating in global tenders.

The stringent quality and regulatory standards, supported by international certifications, facilitated new customer additions and exploration of export opportunities in Europe and the United States.

Initiated product registrations across multiple countries, which, upon completion, are expected to enable direct participation in international tenders and strengthen its global market presence.

Commitment to environmental sustainability continues to be integral to its long-term strategy.

The strategy for the year 2026-27 would be to (i) strengthen relationships with third-party contract manufacturing customers to drive volume growth; (ii) expand presence in new geographies through existing customer networks; (iii) increase supply volumes to new customers; (iv) introduce innovative products to expand the customer base; and (v) commence lubricant manufacturing at Virudhunagar.

Pleasure Products Business:

The Division comprises three operating entities - (i) Skore Brand of Male Pleasure Products; (ii) MsChief Brand of Female Pleasure Products; and (iii) Love Depot, the Divisions Direct-to-Consumer Platform. Together, these businesses strengthen your Companys presence across the fastgrowing sexual wellness and personal pleasure categories in India.

The financial year 2025-26 was a year of consolidation, capability building and portfolio expansion across the Pleasure Products Business.

Skore Pleasure Products

Skore Pleasure Products strengthened its leadership position in the male pleasure accessories category through continued portfolio expansion and strong e-Commerce performance, particularly in the Q-commerce channel. The business delivered healthy growth during the year, with notable traction in accessories and lubricants. Skore has established a dominant position in the category through the successful launch of several category-first products, reinforcing its leadership in innovation-led pleasure solutions.

The year also marked the successful launch of exclusive product concepts through Love Depot, validating the potential for differentiated and value added innovation-led offerings.

Skore Pleasure Products will continue to expand its portfolio and strengthen category leadership through product innovation and enhanced e-Commerce execution. The business will focus on improving marketing efficiency, optimizing media spends and building stronger brand salience across digital platforms.

MsChief Pleasure Products

MsChief recorded a strong growth during the year under review, driven primarily by e-Commerce and Q-commerce channels. The brand also established an initial presence in modern trade, supporting long-term category development and consumer adoption.

During the year, the business completed an important foundational phase focused on brand establishment, range architecture and portfolio development within the female pleasure products category. New product launches addressed identified portfolio gaps and strengthened the brands positioning in an underpenetrated but high- potential segment.

MsChief will enter into a more aggressive growth phase with increased investments in brand building, creator-led collaborations and social media engagement. A planned brand and packaging refresh during the second half of FY 2026-27 will mark the launch of “MsChief 2.0". The product roadmap includes expansion into app-controlled variants and new range extensions aimed at addressing both premiumization and volume growth opportunities.

Love Depot

Love Depot delivered nominal revenue growth during the year while significantly reducing overall marketing and media spends compared to the previous year. The platform continued to strengthen its organic and direct traffic base, reflecting improved operating efficiency and customer engagement.

There has been healthy growth in organic traffic and the repeat customers contributed a meaningful share of overall revenues. The launch of exclusive products, including Skore Rocker, emerged as a successful commercial pilot and reinforced the platforms role as an innovation and incubation engine for the Division.

Collectively, Skore and MsChief further strengthened TTK Healthcares position as a leading player in the pleasure products category across e-Commerce channels, with growing market presence in both male and female segments.

In FY 2026-27, the Pleasure Products Business will focus on accelerating growth through innovation, brand investments and deeper consumer engagement.

Foods Business:

During the year under review, the Division reported revenue from operations of Rs.150.36 crores, with annual growth of 14%.

The R&D Centre at Hosakote developed and successfully commercialized four new products for domestic and corporate customers, contributing significantly to current years business, with an enhanced focus on protein-rich and health-oriented products. Both the Jaipur and Hosakote Plants received global Non-GMO (Genetically Modified Organism) Projects Verified Certification for one product each.

The Division continues to improve operational efficiency through TPM (Total Productive Maintenance), while focusing on value-added products to enhance profitability, undertaking capacity expansion projects and investing in critical spares and innovative equipment designs to improve productivity and processability.

Implemented various cost-saving initiatives across the business operations from sourcing to delivery and achieving savings through annualized contracts with major corporate suppliers and these initiatives would continue.

The strategy for the year 2026-27 would be to (i) sustain and maximise production at both the factories; (ii) optimize the product mix particularly through exports and institutional business so as to further improve the profitability; and (iii) continuously work on developing and launching innovative and differentiated products to improve volumes / margins.

(D) OUTLOOK:

In view of the above developments and initiatives, the outlook for your Company as a whole for 2026-27, appears promising.

(E) RISKS AND CONCERNS:

The analysis presented in the Industry Scenario and Opportunities and Threats Section of this Report throws light on the important risks and concerns faced by your Company. The strategy of your Company to derisk against these factors is also outlined in the said Sections.

(F) INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

Necessary Manuals / Standard Operating Procedures (SOPs) are in place for effectively implementing the Internal Financial Control System.

Internal Audits are regularly conducted through In-house Audit Department and also through External Audit Firms. The Reports are periodically discussed internally. The Internal Auditors monitor and evaluate the efficacy and adequacy of internal control system in your Company, its compliance with operating systems, accounting procedures and policies at all locations of your Company. Significant audit observations and corrective actions thereon are presented to the Audit Committee.

During the year under review, no suspected fraud or irregularity or a failure of internal control systems of a material nature was reported by the Internal Auditors / Statutory Auditors.

(G) FINANCIAL PERFORMANCE:

(Rs. in lakhs)

	2025-26	2024-25
Revenue from Operations	85,728.11	80,149.34
Other Income	7,215.00	7,125.49
Total Income	92,943.11	87,274.83
Cost of Materials Consumed	40,348.87	36,891.64
Employee Benefits Expense	16,516.12	15,090.96
Other Expenses	26,245.54	24,683.92
Profit before Finance Cost,
Depreciation, Exceptional Items and Tax	9,832.58	10,608.31
Finance Cost	292.88	332.42
Depreciation	875.95	833.37
Profit before Exceptional Items and Tax	8,663.75	9,442.52
Exceptional Items:
(i) Provision for Gratuity and Leave Salary as per New Wage Code	(757.87)
(ii) GST Refund	350.42	-
(iii) Profit on sale of Leasehold land	_	1,977.05
		(586.39)
(iv) Write-off Inventories (Male Contraceptives)	(407.45)	1,390.66
Profit before Tax	8,256.30	10,833.18
Less: Tax Expense:
Current Tax	2,190.00	2,655.00
Tax relating to earlier years (Net)	(461.52)	-
Deferred Tax	(40.23)	12.49
Profit after Tax	6,568.05	8,165.69

ANALYSIS OF PERFORMANCE:

• The Revenue from Operations amounted to Rs.857.28 crores, a growth of around 7%.

• The profit for the year under review was lower than the previous year on account of drop in profit from PDD due to stoppage of business by USAID and UNFPA and also higher Brand promotion expenses relating to CPD / Pleasure Products, while Foods Division reported a higher profit as compared to the previous year.

• The increase in Other Income mainly comprises of interest earned on Fixed Deposits.

• The increase in Employee Benefits Expense was mainly due to regular annual increments / revision in packages.

• The increase in Travelling & Conveyance expenses was due to increase in daily allowances to the field staff, fares and hotel tariffs.

• Bad Debts written off during the year under review, amounted to Rs.29.90 lakhs, comprising-

	(Rs. in lakhs)
Ortho Division	18.24
Consumer Products Division	7.46
Animal Welfare Division	4.20

• The capital expenditure incurred during the year was Rs.3.90 crores and Capital Work-in-Progress amounted to Rs.1.37 crores and these mainly relate to Protective Devices Division (PDD) and Ortho Division.

• The higher advertisement expenses was mainly due to brand investments made for CPD and Pleasure Products Division (PPD).

• The decrease in Right of Use Asset was mainly on account of the surrender of the leasehold rights in respect of the land admeasuring around 2.51 acres situated at SIPCOT Industrial Complex, Oragadam Medical Device Industrial Park relating to Ortho Division.

• The reduction in investments was mainly due to reduction in the market value of the investments.

• The increase in trade receivables mainly relates to PDD, AWD and Ortho Division, which are in line with the increase in business / in the ordinary course of business.

• Exceptional Items:

Rs. in lakhs

(i) Provision for Gratuity due to the New Wage Code	(823.02)
Provision for Leave Salary due to the New Wage Code	(284.85)
Total	(1,107.87)
Less: Provision already made in Q4 of 2020-21	350.00
Net Provision	(757.87)
(ii) GST Refund relating to earlier periods	350.42
Total Exceptional Items (Net)	(407.45)

• All the Other Expenses are in line with the level of operations.

(H) MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT:

• Human Resources:

During 2025-26, your Company strengthened its leadership pipeline through structured initiatives. ELEVATE prepares second- line managers and senior departmental heads for future leadership roles, while IGNITE develops third-line and first-time managers to enhance managerial effectiveness. TALENT 75 complements these programs by nurturing high-potential employees across Divisions and enabling internal mobility.

A Managerial Development Program for Regional and Area Managers and Virtual capability-building sessions for Veterinary Sales Representatives of the Animal Welfare Division and also region-wise training programmes for the Field Teams of the Consumer Products Division were introduced to strengthen communication, enhance productivity, improve selling capabilities, reduce attrition, etc.

During the year, your Company launched SHRM Pro, an AI-enabled Human Capital Management platform integrating the entire employee lifecycle - from requisition and recruitment to onboarding, performance management, employee self-service and full-and-final settlement - enhancing efficiency, transparency and employee experience.

Your Company continued to foster a high-trust, high-performance culture through targeted development programs, engagement initiatives and sports activities across locations.

These efforts resulted in the “Great Place to Work" certification for the third consecutive year, with an NPS of 95%.

Your Company was also ranked 52^nd among Indias Top 100 Great Mid-Size Workplaces and recognized for excellence in innovation, manufacturing and as a workplace for millennials by the Great Place to Work Institute.

The Rewards & Recognition (R&R) framework was expanded to 13 award categories with strong participation across Divisions. The Annual Corporate Excellence Awards recognized achievements in Marketing and Customer Focus, Innovation and Quality and Business Process Transformation, along with honours for R&R Champion Division, Best Division and Best Supporting Function.

"Employee Success Day" was also hosted for the second consecutive year to celebrate the achievements of individuals, teams and divisions.

• New Wage Code:

The Government has notified the Code on Wages, 2019 and related Labour Codes, effective November 21, 2025, which revised the definition of “wages".

Under the proposed framework of the Wage Code:

? "Wages" would include basic pay, dearness allowance and retaining allowance;

? Certain exclusions such as HRA, bonus, incentives, allowances and retiral benefits may be capped at 50% of total remuneration;

? Consequently, employers are required to ensure that basic wages constitute at least 50% of total remuneration for the purpose of statutory compliance.

In accordance with the New Wage Code, your Company restructured the remuneration packages of the employees within the overall existing cost-to-company.

The Gratuity liability arising due to the increase in the wages as per the revised definition under the New Wage Code in respect of the past services has already been provided for in the books during Q3 of 2025-26.

As on March 31, 2026, the employee strength of your Company stood at 1,478 (Previous Year - 1,508).

• Industrial Relations:

The industrial relations during the year under review continued to be cordial.

The Directors place on record their sincere appreciation for the services rendered by employees at all levels.

(I) INFORMATION TECHNOLOGY:

During the year, multiple enterprise-wide automation and mobility initiatives were deployed to enhance operational efficiency, strengthen process governance, improve traceability and enable real time decision making across manufacturing, supply chain, finance and customer facing functions and the key initiatives are as follows:

• Digital Transformation: As part of the organization wide digitization initiative, Oracle EBS transitioned to Apex with smart work on SSO [Single Sign On] based mobile-first apps deployed across all core functions.

• AI Readiness: Automation frameworks established, enabling safe AI adoption in non-business critical use cases.

• Cybersecurity & Compliance: Guardrails via Zoho ManageEngine, periodic VA/VAPT checks by CERT-IN empanelled vendors, Commvault endpoint backups for resilience, are in place.

• Innovation & Efficiency: Introduced review systems and KRA frameworks to drive accountability and continuous innovation.

• Operational Excellence: Optimized ITES infrastructure and tracked service delivery, ensuring continuity and scalability.

• Strategic Outlook: Positioned for scalable AI integration while maintaining strong compliance and operational resilience.

• Implementation of Oracle Discreet Manufacturing module at Ortho Division is in progress which would provide better visibility for manufacturing activities including RM inventory, WIP and efficient management of growing number of SKUs and also support to streamline production schedule and improved efficiency.

(J) FUTURISTIC STATEMENTS:

This analysis may contain certain statements, which are futuristic in nature. Such statements represent the intentions of the Management and the efforts being put in by them to realize certain goals. The success in realizing these goals depends on various factors, both internal and external. Therefore, the investors are requested to make their own independent judgements by taking into account all relevant factors before taking any investment decision.

(K) KEY FINANCIAL RATIOS:

Particulars	2025-26	2024-25	Change %	Favourable / Adverse
Current Ratio	5.91	5.23	13.00	F
Operating Profit Margin (%)	3.05	4.35	(29.89)	A
Net Profit Margin (%)	7.69	10.24	(24.90)	A
Return on Equity (%)	6.11	8.03	(23.91)	A
Net Capital Turnover Ratio	0.84	0.89	(5.62)	A
Inventory Turnover Ratio	3.71	3.59	3.34	F
Trade Receivables Turnover Ratio	8.49	9.01	(5.77)	A
Trade Payables Turnover Ratio	4.07	3.70	10.00	F
Debt Equity Ratio	0.02	0.02	(4.33)	F
Interest Coverage Ratio	30.58	29.41	3.98	F
Debt Service Coverage Ratio	20.46	22.11	(7.46)	A
Return on Capital Employed (%)	7.59	10.40	(27.02)	A
Return on Investment (%)	(24.55)	(9.80)	150.51	A

F - Favourable A - Adverse

1. Operating Profit Margin, Net Profit Margin, Return on Equity and Return on Capital Employed ratios are showing adverse change mainly on account of -

a. Lower Profit from PDD due to loss of institutional / tender business particularly from USAID and UNFPA coupled with reduced margins on new businesses.

b. Higher Brand promotional expenses relating to CPD and Pleasure products

c. Higher Exceptional Income (Net) in the previous year vis-a-vis the current year.

2. Return on Investment is negative due to reduction in the market value of Equity Investments.

DISCLOSURES UNDER THE COMPANIES ACT, 2013 AND THE RULES MADETHEREUNDER:

(1) Annual Return:

Annual Return (Form MGT-7) for the year 2025-26 was made available on the Companys website at the following link: https://ttkhealthcare.com/investorlist/annual-return/

(2) Number of Meetings of the Board:

The Board of Directors met 6 (Six) times during the year 2025-26. The details of the Board Meetings and the attendance of the Directors are provided in the Report on Corporate Governance.

(3) Corporate Social Responsibility (CSR) Committee:

The Corporate Social Responsibility (CSR) Committee consists of Mr T T Raghunathan as Chairman, Mr Rajiv K Tulshan, Mr K Shankaran and Mr Murali Neelakantan as Members. Mrs Gowry A Jaishankar is the Secretary to the Committee.

The Corporate Social Responsibility (CSR) Policy enumerating the CSR activities to be undertaken by your Company, in accordance with Schedule VII to the Companies Act, 2013 was recommended to the Board and the Board adopted the same. The said policy was also made available on the Companys website at the following link https://ttkhealthcare.com/investorlist/policies/.

The Annual Report under CSR Activities is annexed to this Report as Annexure-1.

The details relating to the meeting(s) convened, etc., are furnished in the Report on Corporate Governance.

(4) Composition of Audit Committee:

The Audit Committee consists of Mr V Ranganathan as Chairman, Mr K Shankaran, Mrs Subashree Anantkrishnan and Mr V Sundaresan as Members. Mrs Gowry A Jaishankar is the Secretary to the Committee. More details on the Committee are given in the Report on Corporate Governance.

(5) Related Party Transactions:

During the year under review, no transaction of material nature has been entered into by your Company with its Promoters, the Directors or the Key Managerial Personnel or their relatives, etc., that may have a potential conflict with the interests of your Company.

All related party transactions are placed before the Audit Committee as also the Board for approval. Prior omnibus approval of the Audit Committee is obtained on a yearly basis for the transactions which are repetitive in nature. A statement giving details of the transactions entered into with the related parties, pursuant to the omnibus approval so granted, is placed before the Audit Committee and the Board of Directors for their approval / ratification on a quarterly basis.

The Register of Contracts containing the details of the transactions, in which Directors / Key Managerial Personnel are interested, is placed before the Audit Committee / Board regularly.

The Board of Directors of your Company, on the recommendation of the Audit Committee, adopted a policy on Related Party Transactions, to regulate the transactions between your Company and its Related Parties, in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI (LODR) Regulations, 2015 and the said Policy is reviewed by the Board periodically.

The Policy is uploaded on the Companys website at the following link https://ttkhealthcare.com/investorlist/policies/.

(6) Corporate Governance:

Your Company has complied with the various requirements of the Corporate Governance Code under the provisions of the Companies Act, 2013 and as stipulated under the SEBI (LODR) Regulations, 2015.

A detailed Report on Corporate Governance forms part of this Annual Report. [Page No.77]

(7) Business Responsibility and Sustainability Report:

In accordance with the provisions of Regulations 34(2)(f) of the SEBI (LODR) Regulations, 2015, the Business Responsibility and Sustainability Report forms part of this Annual Report. [Page No.41]

(8) Risk Management:

Your Company developed and implemented a Risk Management Policy which includes identification of elements of risk, if any, which, in the opinion of the Board, may threaten the existence of the Company.

Your Company has a Risk Identification and Management Framework appropriate to the size of your Company and the environment in which it operates.

The Risk Management Group (RMG) with due representations from each of the Businesses / Functions of the Company has been meeting periodically and have detailed interactions / discussions with the Members / Risk Owners on the various risks identified and the status of the mitigation plans.

During the year, the RMG met four times on June 23, 2025, October 15,

2025, December 24, 2025 and March 27, 2026 and reviewed / discussed the various key risks and the status of the mitigation plans.

The Risk Management Committee (RMC), during the year, met two times on August 29, 2025 and March 03, 2026.

The Risk Management Committee was updated on the outcome of the RMG Meetings held during the year.

The Risk Register was updated by- (i) deleting the risks that are not relevant; and (ii) including the new relevant risks.

The duly updated Risk Register highlighting the various key risks and the status of their mitigation plans was placed before the Risk Management Committee in their meetings and the Committee reviewed the same.

The Audit Committee and the Board of Directors too periodically review the proceedings / outcome of the Risk Management Committee meetings.

(9) Directors and Key Managerial Personnel:

During the year, the Board composition has undergone the following changes-

• Mr V Sundaresan was appointed as an Independent Director, w.e.f. December 22, 2025.

• Mr N Ramesh Rajan ceased to be the Independent Director of the Company, consequent upon his completion of the second term of five years, w.e.f. February 03, 2026.

None of the Directors are disqualified from being appointed or holding office as Directors, as stipulated under Section 164 of the Companies Act, 2013 and SEBI (LODR) Regulations, 2015.

Certificate of Non-disqualification of Directors from the Practising Company Secretary is furnished under Report on Corporate Governance. [Page No.90].

(i) Reappointment of Directors:

• Mr K Shankaran, Director is liable to retire by rotation at the ensuing Annual General Meeting and being eligible, offers himself for reappointment. The Board recommends his reappointment.

• The current term of appointment of Mr T T Raghunathan as Executive Chairman of the Company expires on October 31, 2026. The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, in their meeting held on May 30, 2026 reappointed him for a further term of five years, effective November 01, 2026, notwithstanding the fact that he attained the age of 70 years on July 08, 2022, subject to the approval of the Shareholders by means of a Special Resolution.

(ii) Statement on Declaration by the Independent Directors of the

Company:

All the Independent Directors of your Company have given -

• Declaration under Section 149(7) of the Companies Act, 2013 that they meet the criteria of independence as laid down under

Section 149(6) of the Companies Act, 2013 and the Rules made thereunder and also Regulation 16(1)(b) of the SEBI (LODR) Regulations, 2015.

• Further, in accordance with Regulations 25(8) of the SEBI (LODR) Regulations, 2015, they have also confirmed that they are not aware of any circumstance or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to discharge the duties with an objective independent judgement and without any external influence.

• Confirmation of compliance with the Code for Independent Directors prescribed under Schedule IV to the Act and the Companys Code of Conduct for Directors and Senior Management Personnel.

• The terms and conditions of appointment of the Independent Directors are posted on the Companys website at the following link https://ttkhealthcare.com/wp-content/uploads/2019/09/ ID-Terms-and-Conditions.pdf.

(iii) Key Managerial Personnel (KMP):

The following managerial personnel are Key Managerial Personnel (KMP) as on March 31, 2026:

• Mr S Kalyanaraman,

Managing Director & Chief Executive Officer (CEO)

• Mr B V K Durga Prasad,

President - Finance [Chief Financial Officer (CFO)]

• Mrs Gowry A Jaishankar,

Deputy General Manager - Legal & Company Secretary (CS)

(iv) Performance Evaluation of the Board, its Committees, Chairperson, Non-Independent Directors and Independent Directors:

In compliance with the provisions of the Companies Act, 2013 and the SEBI (LODR) Regulations, 2015, the performance evaluation of the Board as a whole, its Committees, Chairperson and NonIndependent Directors was carried out during the year under review by the Independent Directors and the evaluation of the Independent Directors was carried out by the entire Board of Directors excluding the Director being evaluated during the year under review. More details on the same are given in the Report on Corporate Governance. [Page No.80]

(v) Policy on Directors Appointment and Remuneration:

Your Company adopted a Policy relating to selection, appointment, remuneration and evaluation of Directors and Senior Management Personnel. The said Policy is posted on the Companys website at the following link https://ttkhealthcare.com/investorlist/policies/.

(10) Auditors:

(i) Statutory Auditors and their Report:

M/s PKF Sridhar & Santhanam LLP was appointed as Statutory Auditors of the Company, for a further term of 5 years, to hold office from the conclusion of the 64^th Annual General Meeting till the conclusion of 69^th Annual General Meeting.

M/s PKF Sridhar & Santhanam LLP, the Statutory Auditors of your Company have carried out the Audit for the year ended March 31, 2026.

• Auditors Report for the year ended March 31,2026:

The Auditors Report to the Shareholders for the year under review does not contain any qualifications.

(ii) Cost Auditors and Cost Audit Report:

• Appointment for the year 2026-27:

Pursuant to Section 148 of the Companies Act, 2013 and the Rules made thereunder, the Cost Records of your Company shall be audited for the following product categories, for the financial year 2026-27:

(i) Under Regulated Sectors:	Drugs and Pharmaceuticals.
(ii) Under Non-Regulated Sectors:	• Male Contraceptives under Rubber and Allied Products;
	• Heart Valves and Orthopaedic Implants under Production, Import and Supply or Trading of Medical Devices.

The Board of Directors, on the recommendation of the Audit Committee, appointed M/s Geeyes & Co., as Cost Auditors of your Company, for the financial year 2026-27 and fixed their remuneration at Rs.6 lakhs plus applicable taxes and levies and reimbursement of travel and out-of-pocket expenses incurred in connection with the audit. Necessary intimation of the said appointment would be given to the Central Government vide Form CRA-2.

M/s Geeyes & Co. have confirmed that their appointment is within the limits prescribed under Section 141 of the Companies Act, 2013 and have also certified that they are free from any disqualifications specified under the said Section.

The Audit Committee also received a Certificate from the Cost Auditors certifying their independence and arms length relationship with your Company.

Pursuant to the provisions of Section 148 of the Companies Act, 2013 and the Rules made thereunder, the ratification by the Members is sought by means of an Ordinary Resolution for the remuneration of Rs.6 lakhs plus applicable taxes and levies and reimbursement of travel and out-of-pocket expenses incurred in connection with the audit, payable to M/s Geeyes & Co., Cost Auditors, under Item No. 5 of the Notice convening the Annual General Meeting.

The Cost Audit Report for the year ended March 31, 2026 would be filed on or before the due date (i.e.) September 27, 2026 or within 30 days from the date of submission of the said Report to the Board, whichever is earlier.

• Cost Audit Report for the year 2024-25:

The Cost Audit Report for the financial year ended March 31, 2025 was filed in Form CRA-4 vide SRN AB6395716 dated September 01, 2025 with the Central Government.

(iii) Secretarial Auditor and Secretarial Audit Report:

• Appointment for a term of 5 years, commencing from the financial year 2025-26 to 2029-30:

M/s A K Jain & Associates, Practising Company Secretaries, [Firm Regn. No.P2000TN000100] [Peer Review Certificate No.1201/2021] was appointed as Secretarial Auditors of the Company, for a period of 5 (five) consecutive financial years, commencing from 2025-26 to 2029-30, to carry out Secretarial Audit, pursuant to the provisions of Sections 179(3), 204 and other applicable provisions, if any, of the Companies Act, 2013 and the Rules made thereunder, read with Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

• Secretarial Audit Report for the year 2025-26:

The Report of the Secretarial Auditor in Form MR-3 for the year ended March 31,2026 is annexed to this Report as Annexure-2.

The Report does not contain any qualification or reservation or adverse remarks.

(11) Investor Education and Protection Fund (IEPF):

• Transfer of Unclaimed Dividends to IEPF, during the year under review:

Your Company transferred a sum of Rs.6,23,463.07 during the financial year 2025-26 to the Investor Education and Protection Fund established by the Central Government, in compliance with Sections 123 to 125 of the Companies Act, 2013. The said amount represents the unclaimed dividends for the year ended March 31, 2018, which were lying unclaimed with your Company for a period of seven years from the due date of payment.

• Transfer of Shares to the Demat Account of the IEPF Authority:

In accordance with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, your Company transferred 4,244 Equity Shares of Rs.10 each fully paid-up, in respect of which the dividends relating to the year 2017-18, remained unclaimed / unpaid for a period of seven consecutive years or more, to the Demat Account of the IEPF Authority held with CDSL on September 24, 2025 and September 29, 2025.

• Year wise amount of Unpaid / Unclaimed Dividends lying in the Unpaid Account as on March 31, 2026 and the due dates of transfer:

Financial Year ended	Dividend Declared on	Due date of Transfer	Unpaid / Unclaimed Amount as on 31.03.2026 (in Rs.)
31.03.2019	09.08.2019	12.09.2026	5,33,555.52
31.03.2020	11.09.2020	14.10.2027	7,55,549.19
31.03.2021	20.08.2021	21.09.2028	5,42,284.51
31.03.2022	03.08.2022	03.09.2029	7,55,549.19
31.03.2023	25.07.2023	30.08.2030	6,20,340.72
31.03.2024	24.07.2024	28.08.2031	10,85,990.92
31.03.2025	28.08.2025	28.09.2032	11,18,547.28

• Details of the Nodal Officer

	Nodal Officer	Deputy Nodal Officer
Name	Gowry A Jaishankar	Simran Lodha
Designation	DGM - Legal & Company Secretary	Deputy Manager - Secretarial
Address	TTK Healthcare Limited No.6, Cathedral Road Chennai 600 086	TTK Healthcare Limited No.6, Cathedral Road Chennai 600 086
Telephone	044- 28116106	044- 28116106
Email ID	gowrv@ttkhealthcare.com	simran.lodha@ttkhealthcare.com

(12) Disclosure under Schedule V(F) of the SEBI (LODR) Regulations, 2015:

Your Company does not have any Unclaimed Shares issued in physical form pursuant to Public Issue / Rights Issue.

(13) Conservation of Energy:

The prescribed particulars under Rule 8(3) of the Companies (Accounts) Rules, 2014 relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, are furnished in Annexure-3 to this Report.

(14) Particulars of Employees:

The information required under Section 197 of the Companies Act, 2013 and the Rules made thereunder are annexed to this Report as Annexure-4.

(15) Subsidiary Company:

Your Company does not have any Subsidiary Company.

(16) Deposits:

As on March 31, 2026, your Company was not holding any amount under Fixed Deposit Account.

(17) Loans, Guarantees and Investments under Section 186 of the Companies Act, 2013:

During the year under review, your Company had not given any loan and provided any guarantee under Section 186 of the Companies Act, 2013.

During the year under review, a sum of Rs.30 lakhs was invested for the acquisition of 3,00,000 Equity Shares of Rs.10 of M/s Dahila Green Energy Private Limited, in connection with the procurement of Wind Energy for Virudhunagar factory of Protective Devices Division.

(18) Material Changes and Commitments affecting the financial position:

There were no material changes and commitments affecting the financial position of the Company, which have occurred between the end of the financial year of the Company to which the Financial Statements relate viz. March 31, 2026 and the date of this Report.

(19) Significant and material orders passed by the Regulators/Courts:

There are no significant and material orders passed by the Regulators / Courts which would impact the going concern status of your Company and its future operations.

(20) Whistle Blower Policy:

In accordance with the provisions of Section 177(9) of the Companies Act, 2013 and the Rules made thereunder and also the SEBI (LODR) Regulations, 2015, your Company established a vigil mechanism termed as Vigil Mechanism / Whistle Blower Policy, for Directors and employees to report concerns about unethical behaviour, actual or suspected fraud or violation of the Companys Code of Conduct, which also provides for adequate safeguards against victimization of Director(s) / employee(s) who avail of the mechanism and also provide for direct access to the Corporate Governance Officer / Chairman of the Audit Committee and the Executive Chairman, in exceptional cases.

The Vigil Mechanism / Whistle Blower Policy was also hosted on the Companys website at the following link https://ttkhealthcare.com/ investorlist/policies/.

During the year under review, your Company had not received any complaint.

(21) Compliance Certificate:

Certificate from the Practising Company Secretary regarding compliance of conditions of Corporate Governance is furnished as Annexure-5 to this Report.

(22) Secretarial Standards:

Your Company has complied with all applicable mandatory Secretarial Standards issued by the Institute of Company Secretaries of India.

(23) Finance:

Your Company has banking arrangements with Union Bank of India, Bank of Baroda and HDFC Bank Limited and availed various working capital facilities amounting to Rs.21.90 crores as on March 31, 2026. (Previous Year - Rs.21.93 crores).

(24) Capital Expenditure (Capex):

During the year, your Company has spent an amount of Rs.3.90 crores towards Capex. For the year 2026-27, the estimated amount would be around Rs.20 crores towards normal Capex.

(25) Investments:

During the year under review, a sum of Rs.30 lakhs was invested for the acquisition of 3,00,000 Equity Shares of Rs.10 of M/s Dahila Green Energy Private Limited, in connection with the procurement of Wind Energy for Virudhunagar factory of Protective Devices Division.

(26) Listing of Equity Shares:

Your Companys shares are listed with-

• BSE Limited (BSE), Mumbai; and

• National Stock Exchange of India Limited (NSE), Mumbai.

Your Company paid the Listing Fees for the financial year 2026-27.

(27) Obligation of your Company under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013:

In order to prevent sexual harassment of women at workplace, a legislation - The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 was notified on December 09, 2013. Under the said Act, every Company is required to set up an Internal Complaints Committee to look into complaints relating to sexual harassment at workplace of any woman employee. Your Company has adopted a policy for prevention of Sexual Harassment of Women at Workplace and constituted an Internal Complaints Committee (ICC) with an NGO as one of its Members.

Adequate awareness programmes were also conducted for the employees of your Company.

During the year 2025-26, one complaint was received which is currently under the investigation of the ICC.

(28) Disclosure relating to Loans and Advances to Firms / Companies in which Directors are interested by name and amount:

During the year under review, your Company did not provide any loans / advances, to any Firms / Companies in which Directors are interested.

(29) Disclosure under the Insolvency and Bankruptcy Code, 2016:

During the year under review, no application was made or any proceeding is pending under the said Code.

(30) Disclosure regarding Valuation under One Time Settlement:

Not Applicable.

(31) Compliance with Maternity Benefit Act, 1961

During the year under review, the Company has complied with all the applicable provisions relating to the Maternity Benefit Act, 1961.

Directors Responsibility Statement:

As required under Section 134(3)(c) of the Companies Act, 2013, your

Directors hereby confirm that-

• In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanations relating to material departures;

• Appropriate accounting policies had been selected and applied consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year March 31, 2026 and of the Profit of the Company for that period;

• Proper and sufficient care had been taken for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

• The Annual Accounts had been prepared on a going concern basis;

• The Internal Financial Controls had been laid down, to be followed by the Company and that such Internal Financial Controls are adequate and were operating effectively; and

• In order to ensure compliance with the provisions of all applicable laws, proper systems had been devised and that such systems were adequate and operating effectively.

General:

Your Directors state that no disclosure or reporting is required in respect of

the following items as there were no transactions on these items during the

year under review:

• Issue of Equity Shares with differential rights as to dividend, voting or otherwise.

• Issue of shares (including Sweat Equity Shares and ESOs) to employees of the Company under any Scheme.

Acknowledgement:

Your Directors place on record their grateful thanks to the Bankers, Customers,

Vendors and Members for their continued support and patronage.

Place : Chennai	TTRAGHUNATHAN
Date : May 30, 2026	Executive Chairman
Registered Office:
No.6, Cathedral Road
Chennai 600 086