Full Press Release Details
National Stock Exchange of India Ltd. (Stock Code:
BSE Limited (Stock Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd. (Stock Code: DRREDDY)
Sub.: Outcome of 40th Annual General Meeting
This is with reference to our earlier letters dated
May 07, 2024 and July 2, 2024, regarding the 40th Annual General Meeting (AGM) of the Company, held on July 29, 2024.
In accordance with Regulation 44 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), this is to inform you that the Members of the Company
transacted the business as stated in the Notice of 40th AGM, dated May 07, 2024, through video conferencing facility.
In this regard, please find enclosed the following:
The above are also being uploaded on the Company's
website www.drreddys.com and on the website of National Securities Depository Limited www.evoting.nsdl.com.
The video recording of the proceedings of the AGM
will be available on the Company's website at www.drreddys.com.
For Dr. Reddy's Laboratories Limited
Company Secretary, Compliance Officer and Head-CSR
CC: National Securities Depositary Limited (NSDL)
DR. REDDY'S LABORATORIES LIMITED
Summary of proceedings of the 40th Annual General
Meeting (AGM) of the members of Dr. Reddy's Laboratories Limited ( the Company') held on Monday, July 29, 2024 at 11.00
AM (IST) through Video Conferencing (VC) /Other Audio Visual Means (OAVM).
Directors Present through VC:
| 1. | Mr. K Satish Reddy | Chairman and Member, participated from Hyderabad, India |
| 2. | Mr. G V Prasad | Co-Chairman and Managing Director and Member, participated from Hyderabad, India |
| 3. | Ms. Kalpana Morparia | Independent Director and Member, participated from Mumbai, India |
| 4. | Mr. Leo Puri | Independent Director, participated from Singapore |
| 5. | Ms. Shikha Sharma | Independent Director, participated from Mumbai, India |
| 6. | Dr. K P Krishnan | Independent Director, participated from Mumbai, India |
| 7. | Ms. Penny Wan | Independent Director, participated from Pennsylvania, USA |
| 8. | Mr. Arun M Kumar | Independent Director, participated from Bangalore, India |
| 9. | Dr. Claudio Albrecht | Independent Director, participated from Austria |
| 10. | Ms. Alpna Seth | Independent Director, participated from Delhi, India |
| 11. | Mr. Sanjiv Mehta | Independent Director, participated from Paris, France |
In attendance through VC, participated from Hyderabad, India:
| 1. | Mr. Erez Israeli | Chief Executive Officer |
| 2. | Mr. Parag Agarwal | Chief Financial Officer |
| 3. | Mr. K Randhir Singh | Company Secretary, Compliance Officer and Head-CSR |
Other representatives through VC:
Total 179 members holding 8,13,44,475 shares, attended
the meeting through VC/OAVM.
Pursuant to Article 70 of the Articles of Association
of the Company, Mr. K Satish Reddy, the Chairman of the Board took the chair and conducted the proceedings of the meeting. The requisite
quorum being present, the meeting was called to order.
Thereafter, the Company Secretary informed the members
that the meeting is being held through Video Conferencing/ Other Audio Visual Means (OAVM) in compliance with the applicable Circulars
issued by the Ministry of Corporate Affairs (MCA) and Securities Exchange Board of India (SEBI). The Company Secretary further stated
that since the Integrated Annual Report for FY2024 containing the Notice of the 40th AGM and the Auditor's Report was circulated
to the members through electronic mode, the Notice convening the meeting and the Auditor's Report are taken as read. Thereafter,
the Chairman delivered his speech followed with the address by the Co-Chairman and Managing Director.
The members were informed that the Integrated Annual
Report for FY2024 containing the Audited Financial Statements (both Standalone and Consolidated) for the year ended March 31, 2024, Board's
and Auditor's report had been sent through electronic mode to all the members whose e-mail addresses were registered with the Company/
Depository Participant(s)/ Registrar and Transfer Agent. The members were also informed that the original documents, as referred to in
the Integrated Annual Report, along with the statutory registers were made available for inspection before the 40th AGM and were also
available during the AGM for inspection in electronic mode.
Further, the Members were invited to come forward
and seek clarifications/information on the operational and financial performance of the Company. In addition to certain queries on financial
statements, the members sought clarifications on key financial/operational matters. These queries were adequately responded to by the
The members were further informed that the Company
had provided to the members facility to cast their votes electronically, on all resolutions set forth in the Notice of the 40th AGM through
remote e-voting provided by NSDL. The remote e-voting facility was open from Thursday, July 25, 2024 (9.00 AM IST) to Sunday, July 28,
2024 (5.00 PM IST). Members who attended the AGM and had not cast their votes through remote e-voting prior to the meeting were provided
an opportunity to cast their votes during the AGM through the e-voting facility provided by NSDL.
The following items of business, as per the Notice
of the 40th AGM dated May 07, 2024 were transacted at the meeting:
The Chairman informed the members that Mr. Atul Mehta
(Membership No. F5782 and COP No. 2486), Founding Partner, M/s Mehta & Mehta, Company Secretaries, was appointed as the Scrutinizer
for scrutinizing the processes of remote e-voting prior to the meeting and e-voting during the AGM in a fair and transparent manner and
to report on the voting results for the items as per the Notice of the 40th AGM. The Chairman also informed the members that the Company
Secretary is authorised on behalf of the board, to declare the results of the voting.
The meeting started at 11:00 a.m. and concluded at
1:16 p.m. (including 30 minutes time allowed for e-voting during AGM).
The Scrutinizer's Report was received, and accordingly
all the resolutions as set out in the Notice of the 40th AGM were declared as passed by requisite majority.
For Dr. Reddy's Laboratories Limited
Company Secretary, Compliance Officer and Head-CSR