Bajaj HealthCare : Press Release

BAJAJ HEALTHCARE LIMITED

CIN: L99999MH1993PLC072892

Registered Office: 602-606, Bhoomi Velocity Infotech Park, Plot No. B-39,B-39A,B-39 A/1,

Rd No.23, Wagle Ind. Estate Thane West, Maharashtra - 400604.

BUSINESS UPDATE

Bajaj Healthcare Ltd.("BHL") announces Foray into the highly regulated- Opiate

Processing Business for the Government of India. (GOI)

• BHL is the first ever private player in India to be awarded a tender for Opiate Processing, which till date was a highly regulated & government owned business.
• Foray into new line of business will open up a new stream of revenue which shows immense growth potential, as BHL is currently the sole player for government allocated Opiate processing on a long- term basis.

Thane, 13th July, 2022: Bajaj Healthcare Limited (BHL) a leading manufacturer of APIs, Intermediates and Formulations, has been awarded two tenders for manufacture of Concentrated Poppy Straw (CPS) and Alkaloids/Active Pharmaceutical Ingredients (APIs) from unlanced poppy capsules along with straw through CPS-Reg and Opium Gum from the Government of India, Department of Revenue, Office of Chief Controller, Govt. Opium & Alkaloid Factories, GOI.

BHL is pleased to announce that it has received two letters of Award on 12th July, 2022, for the manufacture of Alkaloids/APIs from Government of India, Department of Revenue, Office of Chief Controller, Govt. Opium & Alkaloid Factories as follows: -

1. Letter of Award, to manufacture Alkaloids & APIs from processing of 500 MTof unlanced poppy capsule along with Straw on an annual basis.
2. Letter of Award, to manufacture Alkaloids & APIs from processing of 100 MTof Opium Gum on an annual basis.

The company plans to execute both these tenders at their API manufacturing unit located at Savli, Gujarat, India. The APIs will be manufactured under highly regulated conditions & under strict adherence to protocols prescribed by the Government of India. The unit is well placed to cater to all mandated quality checks and controls, with capacity enhancement capabilities. The tender is expected to bring an overall margin accretion to the company mainly on account of better capacity utilization of the existing plant. The derivate API's and extracts are normally used in a wide range of pharmaceutical applications.

Business Updates

Commenting on the above business updates, Mr. Anil Jain, Joint Managing Director, Bajaj Healthcare

said "It is with great pride I would like to announce that BHL has successfully ventured into the highly regulated category of Opiate processing for the Government of India. We have been awarded two tenders for the supply of Opium derived Alkaloids & APIs to the GOI, under long term contracts and expect successive orders under similar tenders, to scale up to processing of ~6,000 MT of Poppy Straw & Opium

Gum in the next 5 years.

The Indian Opiates market holds good potential, and the receipt of this order opens the doors to a new business vertical with better margins. This is for the first time in the history of the nation, that the government has deregulated Opiate Processing to a private player and we are extremely honoured to be awarded the very first tender in this segment. The order is a part of our strategy towards building our portfolio of opiates and accessing strong capabilities in this segment.

We have been awarded this order on the back of our strong API manufacturing expertise & infrastructural capabilities. With this order, we plan to establish our footprint in this niche segment of Opiate processing and, with the contribution from our existing, highly skilled workforce; I believe we are well-placed to take the business forward."

About Bajaj Healthcare Limited

Bajaj Healthcare Limited a leading manufacturer of APIs, Intermediates and Formulations established in the year 1993. It specializes in manufacturing of Intermediates, API, formulations & Nutraceuticals. The company has state-of-art manufacturing facilities, of which 6 units are dedicated to APIs, 2 units to Intermediatesand 1 unit for formulation. These facilities are designed to meet the requirements of both advanced as well as emerging market opportunities. BHL has a strong presence globally in countries like Europe, USA, Australia, Africa, Middle East and South America.

For further information on the Company, please visit www.bajajhealth.com

Rupesh Nikam (CFO)	Krunal Shah/ Vinayak Shirodkar
Bajaj Healthcare Limited	Captive IR Strategic Advisors Pvt. Ltd.
Contact: [phone]	Contact: [phone]
Email:[e-mail]	Email:[e-mail]/[e-mail]

Disclaimer:

CERTAIN STATEMENTS IN THIS DOCUMENT MAY BE FORWARD LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES LIKE GOVERNMENT ACTIONS, LOCAL POLITICAL OR ECONOMIC DEVELOPMENTS, TECHNOLOGICAL RISKS, AND MANY OTHER FACTORS THAT COULD CAUSE OUR ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTEMPLATED BY THE RELEVANT FORWARD-LOOKING STATEMENTS. BAJAJ HEALTHCARE LTD WILL NOT BE IN ANY WAY RESPONSIBLE FOR ANY ACTION TAKEN BASED ON SUCH STATEMENTS AND UNDERTAKES NO OBLIGATION TO PUBLICLY UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT SUBSEQUENT EVENTS OR CIRCUMSTANCE.

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