Venus Remedies Ltd

“THE IN-LICENSING OF MET-X IS A I MAJOR STEP FORWARD IN PROVIDING BREAKTHROUGH SOLUTIONS FOR DRUG- RESISTANT INFECTIONS, A SERIOUS THREAT TO INDIA'S HEALTHCARE ECOSYSTEM. OUR AIM IS TO DEVELOP AN EFFECTIVE SOLUTION AGAINST MBL- PRODUCING PATHOGENS, FULFILLING A CRITICAL HEALTHCARE NEED AND CONTINUING OUR COMMITMENT TO TRANSFORMATIVE THERAPIES AND SUSTAINED INNOVATION IN CRITICAL CARE, WHICH DENOTES-

DEAR SHAREHOLDERS,

Having spent the previous year laying the foundation of a future-ready enterprise, FY25 was when we stepped boldly into that future with purpose, precision, and progress.These three principles guided every decision, every innovation, and every breakthrough. It was a year when our convictions translated into measurable results, and our strategies moved from planning tables to global impact.

Renewed sense of 'Purpose'

We began the year with a renewed sense of purpose- driven by our commitment to transform unmet healthcare needs into meaningful scientific solutions. This purpose took shape in Venus Medicine Research Centre (VMRC) laboratories, where oui unwavering focus on antimicrobial resistance (AMR), patient safety, and clean-label therapeutics continues to anchor our innovation strategy.

Among our most transformative breakthroughs was VRP-034, a first- in-class supramolecular cationic formulation of polymyxin B sulphate. Developed using VMRC's proprietary Renal Guard Technology, VRP-034 addresses one of the most critical limitations of polymyxin therapy- dose-limiting nephrotoxicity. While polymyxin B is a last-resort antibiotic used for life-threatening MDR Gramnegative infections, its conventional form causes acute kidney injury in up to 60% of patients.

VRP-034 demonstrated up to 70% reduction in nephrotoxicity without compromising antimicrobial efficacy, validated across advanced human kidney-on-a-chip systems and transplant kidney models.This innovation has not only received Qualified Infectious Disease Product (QIDP) status from the US FDA but has also been featured in prestigious peer-reviewed journals including Antimicrobial Agents and Chemotherapy, IJAA, JAC-AMR, and Antibiotics. Additionally, the scientific data has been presented at leading global conferences such as ASM/ESCMID, ECCMID, BSAC, and ASM Microbe, underscoring broad international recognition.

To protect our innovation globally, we have filed patents for VRP-034 in over 88 countries, with grants already secured in more than 10 nations, including India and several strategic international markets.

Our innovation agenda didn't stop there. With the development of CRISPR-Cas-based gene editing platforms, we advanced next- generation therapeutics with a sharper clinical focus. Global recognition followed: three of our pipeline drug candidates were featured in the WHO's 2023 Global Antibacterial Pipeline Report, reaffirming our global relevance in the AMR space.

This same spirit of purpose led to a defining strategic moment- the in-licensing of MET-Xfrom INFEX Therapeutics, UK. MET-X, a novel P-lactamase inhibitor targeting MBL- producing pathogens, strengthens our AMR pipeline with strategic depth and the potential for global clinical impact. As I've said before, this is more than a partnership- it is a breakthrough commitment to addressing drug resistance at scale and reaffirming our responsibility to India's healthcare ecosystem.

This scientific intent translated into commercial strength. In FY25, Venus Remedies recorded a total revenue of T647.89crore, marking a 7.72%

growth over the previous year. Our international business continued to be the growth engine, contributing 72% of the total revenue, fuelled by strategic product launches, regulatory approvals, and key tender wins in high-priority global markets.

Executing with 'Precision'

From purpose, we moved with precision, ensuring that our innovations were matched by rigorous execution, compliance, and delivery. FY25 saw us deepen our presence across key international markets.

With marketing authorisations secured in Morocco and the Philippines and our first-ever international approval for Sugammadex in the ASEAN region, we sharpened our position in high- burden, high-opportunity therapeutic areas. Our regulatory reach expanded with GMP certifications from Moldova and Malaysia and a renewed EU- GMP certification from INFARMED in Portugal. Recognition from UNICEF and PAHO, in the form of dual international tenders, further cemented our global credibility.

This precise execution extended into our domestic operations, where we exceeded expectations.This growth closely mirrored a notable uptick in government procurement across

India, driven by enhanced allocations to state-run health programmes and a renewed push toward ensuring affordable access to essential medicines.

Our focus on Trade Generics reflects this belief.Through a deep and growing portfolio of high-quality formulations, we are actively enabling broader access to healthcare, particularly in underserved regions. What differentiates us is not just our reach, but the way we operate. The growing need for affordable and easily accessible medicines has brought the trade generics segment to the forefront of India's public health delivery. Government institutions, healthcare providers, and patients alike are increasingly turning to trusted generics to meet both routine and critical care requirements.

This structural shift in healthcare consumption has significantly accelerated momentum in the trade generics space, establishing it as a vital pillar of national healthcare access. Venus Remedies has responded with agility- combining quality manufacturing, scalable distribution, and digital innovation to position itself as a reliable partner in strengthening India's healthcare infrastructure.

We are proud to lead this 100% digital initiative that reimagines the entire trade generics value chain- from realtime field enablement and inventory intelligence to automated reporting and customer engagement.The results speak for themselves: we have expanded our presence to over 2,400 towns, on boarded more than 10,000 stockists, and achieved seamless digital integration of our field force with the channel ecosystem. Digital is more than a medium- it is our commitment to transparency, agility, and smart growth. As government demand for affordable medicines continues to rise and the market evolves in favour of trusted, tech- enabled players, we are confident that this digitally empowered ecosystem will drive the next phase of domestic growth for Venus Remedies.

Making healthy 'Progress'

As purpose and precision aligned, they propelled progress- transforming ambition into outcomes and strategy into scale. Our manufacturing division saw meaningful expansion, supported by active partnerships with top-tier pharmaceutical companies and two new strategic collaborations were signed during the year. Our operational capacity and infrastructure readiness enabled us to meet both institutional demand and contract manufacturing commitments consistently and confidently. This progress was further reflected in our EBITDA performance, which improved to 784.49crare, supported

by a disciplined cost structure and a growing contribution from higher- value formulations. Our net profit rose to ?45.31crore, reflecting a year of not just revenue expansion but sustainable value creation for all stakeholders.

The RESET wellness brand, meanwhile, gained market traction and expanded its plant-based portfolio, addressing evolving consumer preferences for natural and science-backed alternatives.

Our intellectual property portfolio expanded to 130+ global patents, with 125+ trademarks and 3 design registrations filed or granted during the year- cementing our position as a company that not only delivers products, but builds platforms.

Each of these milestones- scientific, operational, and financial- are interwoven into the same narrative.

A narrative of a company driven by purpose, delivering with precision, and growing with consistent, forward- moving progress.

Looking Ahead

As we move into FY26, Venus Remedies stands prepared to navigate a world that remains deeply complex and uncertain.

While the global economy continues

I to face turbulence- marked by escalating geopolitical tensions, fragmented supply chains, and policy unpredictability, we recognise these headwinds not as setbacks, but as signals to remain agile, focused, and resilient.

At the same time, India's rise as the fourth-largest economy and its ambition to become a global life sciences hub present us with unprecedented opportunities. We see this moment as a pivotal inflection point- to deepen our relevance as a science-led, innovation-focused pharmaceutical company with global credibility and local responsibility.

Our priorities are clear. We will accelerate clinical development in key therapy areas like AMR while expanding our presence in both regulated and emerging markets.

We will continue to invest in digitisation across the value chain, and importantly, lay the groundwork to expand our manufacturing footprint in the coming years. This strategic move will help us prepare for the future of pharmaceutical manufacturing- ensuring speed, scale, and compliance while staying ahead of rising demand.

Above all, our vision remains anchored in sustainable, patient-centric healthcare. With a strong pipeline of differentiated therapies, enduring partnerships, and operational excellence, Venus Remedies is committed to delivering meaningful impact in FY26 and beyond- resilient in adversity and ready for the future.

In Gratitude

To our scientists, teams, partners, regulators, and investors- thank you.

Your belief powers our resolve. FY25 was not just a year of achievement- it was a promise kept. FY26 will be our opportunity to amplify that promise. Let us keep building, healing, and innovating- together.