South African Tourism Engages 235+ Trade Partners At The Bengaluru Roadshow

Highlighting India’s growing significance, the initiative strengthens business opportunities across leisure, corporate, and MICE travel

Following a successful roadshow kick-off at OTM Mumbai, South African Tourism has now successfully completed the Bengaluru leg of its Annual India Roadshow, continuing its focused engagement with the Indian travel trade and reinforcing India’s growing importance as a key source market for South Africa. Led by Ms. Mitalee Karmarkar, Marketing and Communications Manager (MEISEA), the roadshow serves as a strategic platform for industry collaboration, insights into evolving traveller behaviour, and the identification of new business opportunities across leisure, corporate and MICE travel segments.

Featuring over 40 exhibitors presenting a diverse range of offerings, the roadshow drew participation from over 235 Indian travel trade agents in Bengaluru. Continuing its focused engagement with the Indian market, the multi-city initiative will next move to Ahmedabad on 10th February 2026, further strengthening trade collaborations and encouraging outbound travel to South Africa.

Sharing her perspective at the roadshow, Ms. Karmarkar said, “India continues to be a priority growth market for South African Tourism, driven by strong interest across family travel, experiential holidays, and premium travel. Indian travellers today are also planning differently, using AI-powered tools to research and customise their trips, travelling more occasionally, and showing a growing willingness to explore destinations beyond traditional favourites. This shift in traveller behaviour reflects a more confident and curious audience, and it opens up new opportunities to highlight lesser-known regions and experiences across South Africa

She further added, “Bengaluru has firmly established itself as one of South Africa’s key source markets in India. Travellers from the city are digitally savvy, experience-driven, and increasingly confident in exploring long-haul destinations. Through the roadshow, we aim to deepen our engagement with the local travel trade and further strengthen South Africa’s visibility and relevance in this important market.”

With a strong base of frequent international travellers, Bengaluru represents a high-potential market for South African Tourism, particularly across premium leisure, adventure, and wildlife segments. The city’s outbound audience is increasingly seeking personalised, well-paced itineraries that combine iconic experiences with lesser-explored regions, with safaris continuing to be a key motivator. Through sustained collaboration with the travel trade, South African Tourism is focused on unlocking new itineraries and driving greater consideration and conversion from this market.

South Africa is targeting a return to pre-Covid Indian traveller volumes in 2026 and remains committed to fostering lasting partnerships with Indian trade partners, delivering tailored experiences for a range of traveller profiles, and positioning South Africa as a must-visit destination. The roadshow demonstrates the country’s dedication to strengthening ties with the Indian market and inspiring more travellers to explore the Rainbow Nation in the years ahead.

The country is also set to host the 2027 ODI World Cup, providing an exciting opportunity to showcase the country's diverse tourism attractions and attract visitors from around the globe. Through ongoing trade engagement, targeted consumer outreach, and innovative marketing initiatives, the tourism board remains dedicated to expanding its presence in India.

About South African Tourism: South African Tourism is the tourism marketing arm of the South African government. Simply put, their job is to promote the country domestically and internationally, whether for leisure, business or events tourism.

As a government body, they are committed to meaningfully contributing to the South African government's objectives of inclusive economic growth, sustainable job creation, and redistribution and transformation of the industry.

Website www.southafrica.net

Gunnebo Safe Storage Expands Presence In North Karnataka With New Display Centre In Hubli

Gunnebo, a global leader in physical security solutions, has further strengthened its footprint in South India with the inauguration of its 37th Display Centre in Hubli, Karnataka. Strategically located in the gateway to North Karnataka, the new display centre brings Gunnebo’s trusted security solution brands, Steelage and Chubbsafes, closer to regional businesses, jewellers, financial institutions, and other high-risk sectors.

Hubli’s growing role as a commercial and trading hub for North Karnataka, coupled with the presence of established jewellery clusters and increasing business activity across Tier-2 and Tier-3 cities, makes it a strategically important market for advanced physical security solutions. As asset values rise and businesses scale operations in these regions, the demand for globally benchmarked, certified security infrastructure continues to grow.

The Hubli Display Centre was inaugurated by Mr. G. Nanjangouda, President of KSSFCL, along with Mr. Vishad Mishra, Vice President – Sales and Service, Gunnebo India Pvt Ltd, marking another important milestone in Gunnebo’s brand store expansion across emerging and high-growth markets in India. The centre has been developed in collaboration with Gunnebo’s authorised channel partner, Vasudha Automation, represented by Mr. Srinivas Bhat. Located at Lower Ground Floor No. 1, Laxmi Balakrishna Square, below Harsha Showroom, Opp. Karnataka Cloth Palace, Station Road, Hubli, the display centre is designed to offer customers a first-hand experience of Gunnebo’s certified physical security solutions. These include safes, lockers, vault and strong room solutions, along with high-security electronic and mechanical locking systems from Steelage and Chubbsafes. These products are BIS certified, symbolising decades of trust, reliability, and compliance. This long-standing credibility continues to motivate the company to deliver best-in-class security solutions and enhanced service experiences to its customers.

Gunnebo consistently works with a strong focus on evolving customer needs and sector-specific requirements. In line with this approach, the company has recently introduced a dedicated range of products for religious institutions under its new religious segment. Additionally, keeping the requirements of the jewellers’ community in mind, Gunnebo has launched a new 630-litre, 7-feet double-door safe, further strengthening its portfolio of high-capacity secure storage solutions.

Commenting on the launch, Mr. Vishad Mishra said, “North Karnataka is a high-potential market with growing demand for reliable, certified security solutions. With the Hubli Display Centre, our objective is to bring BIS-certified safe storage and global security standards closer to customers in the region. This centre enables jewellers and businesses to experience our Steelage and Chubbsafes solutions first-hand, supported by strong service capabilities and technical expertise. With the addition of high-security digital locks, we are now even better equipped to serve both banking and non-banking customers. As customer needs evolve, our focus remains on delivering sector-specific solutions that ensure long-term protection and trust.”

With increasing commercial activity and heightened awareness around asset protection across North Karnataka, the Hubli Display Centre aims to serve as a one-stop destination for advanced physical security solutions. Customers visiting the centre will benefit from expert consultations, product demonstrations, and technical guidance to help identify solutions best suited to their specific risk profiles and operational needs.

About Gunnebo

Gunnebo Group, based in Gothenburg, Sweden, has a rich heritage spanning over 250 years and is a world leader in physical security solutions that help keep valuables, cash, and people safe. Gunnebo Group serves customers across banking, retail, public and commercial buildings, industrial, and high-risk sites globally.

In 2000, Gunnebo Group acquired Steelage, India’s most trusted brand for physical security solutions since 1932. Steelage offers a comprehensive range of state-of-the-art safe storage systems including safes, vaults, fire cabinets, strong room doors, modular vault solutions, and safe deposit lockers.

Chubbsafes, a heritage brand under Gunnebo Group, has been trusted globally since 1835. Celebrating 190 years of legacy in 2025, Chubbsafes is known for delivering certified burglary and fire protection solutions across homes, businesses, banks, and high-security environments worldwide.

Tata Motors Passenger Vehicles’ New Manufacturing Facility In Tamil Nadu

Begins Operations with the local manufacture of JLR’s Range Rover Evoque as the first vehicle

Tata Motors Passenger Vehicles Ltd. (TMPV), India’s leading manufacturer of cars and SUVs and its subsidiary Jaguar Land Rover Automotive Plc. (JLR), today announced the commencement of operations at their new manufacturing facility at Panapakkam in the Ranipet district of Tamil Nadu. The current facility reflects the first phase of development of a greenfield plant for producing next‑generation vehicles, including EVs, for both TMPV and JLR brands. The first vehicle to roll out of the plant is the locally manufactured Range Rover Evoque from JLR, a model celebrated globally for its modern luxury and exceptional craftsmanship.

The facility was formally inaugurated by the Hon’ble Chief Minister of Tamil Nadu, Thiru M.K. Stalin, and Mr. N. Chandrasekaran, Chairman, Tata Sons & Tata Motors Passenger Vehicles, in the presence of eminent Ministers, public representatives, senior bureaucrats, government officials, and senior leaders from TMPV, JLR, and the Tata Group.

Inaugurating the Tata Motors Passenger Vehicles – JLR facility, Thiru M.K. Stalin, Hon’ble Chief Minister of Tamil Nadu, said, “Tata Group has long played a pivotal role in nation building and shares a deep, historic partnership with Tamil Nadu. With the commencement of operations at this new manufacturing facility and the rollout of the first Range Rover Evoque in Panapakkam, Ranipet, the state is proud to witness the expansion of world‑class automotive manufacturing. Tamil Nadu welcomes this significant milestone and remains committed to supporting industries that create jobs, drive innovation, and reinforce our position as India’s leading hub for manufacturing and mobility.”

Speaking on the occasion, Mr. N. Chandrasekaran, Chairman, Tata Sons & Tata Motors Passenger Vehicles Ltd, said, “The inauguration of our Panapakkam facility marks a significant milestone in the Tata Group’s journey to accelerate India’s leadership in sustainable and future‑ready manufacturing. We are also proud to deepen our long-standing partnership with Tamil Nadu, a state that continues to drive industrial excellence, innovation, and inclusive growth. With this facility, we look forward to producing vehicles of exceptional quality, craftsmanship, and technology for customers in India and around the world.”

About the Panapakkam Plant

TMPV’s Panapakkam plant brings together advanced manufacturing technologies and a skilled workforce to deliver world-class vehicles.

The facility is operated by a diverse team of Shopfloor technicians from across Tamil Nadu, who are also participating in Tata Motors’ Lakshya programme, an “earn while you learn” initiative that accelerates talent growth from the shopfloor into engineering and management roles. Selected through a rigorous state-wide assessment of polytechnic graduates, they completed five months of intensive, hands-on training at JLR facilities, equipping them with world‑class operational and technical proficiency.

With opportunity to earn a company-sponsored B.Tech degree from a renowned university while they work, they can advance their personal growth and professional excellence while taking care of their families. Their journey underscores how focused skilling and local talent development can accelerate advanced manufacturing and deliver lasting economic and social impact.

With operations now underway, vehicle production will scale up in a phased manner, progressively reaching the facility’s full designed annual capacity of 250,000 vehicles over the next 5–7 years, serving requirements for both Indian and international markets.

Overall, TMPV intends to invest ~INR 9,000 crores in making this manufacturing facility cutting-edge to support its long-term growth ambitions. The plant has the potential to create over 5,000 direct and indirect employment opportunities while fostering skill enhancement and supporting the growth of a strong ancillary ecosystem.

The Panapakkam facility also exemplifies TMPV’s sustainability‑first philosophy, incorporating environmentally responsible operations at every stage. The plant has been designed to operate entirely on renewable energy, be water positive and set a new standard for green manufacturing within the automotive sector. Designed with a high quotient of sustainable practices, it prioritizes efficiency, minimizes emissions, and adheres to stringent global environmental benchmarks.

About Tata Motors Passenger Vehicles Ltd. (Formerly Tata Motors Ltd) *:

Part of the USD 180 billion Tata Group, Tata Motors Passenger Vehicles Ltd. ('the Company', BSE: Scrip code 500570; NSE: Scrip code TMPV) is one of India’s leading automobile manufacturers, offering a diverse portfolio of cars and SUVs renowned for their design, safety, and performance. The company delivers multi‑powertrain options, advanced connected technologies, and intelligent personal mobility solutions. Known for its innovation, reliability, and engineering prowess, the company is at the forefront of India’s electric vehicle revolution, accelerating the nation’s shift toward sustainable mobility. It continues to drive progress across zero emission, connected, and future ready mobility solutions, supported by robust design and R&D capabilities.

*In terms of a Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench, the name of the Company was changed from Tata Motors Limited to Tata Motors Passenger Vehicles Limited w.e.f. October 13, 2025.

About JLR

JLR is a wholly owned subsidiary of Tata Motors Passenger Vehicles Limited, part of Tata Sons. At heart we are a British company, with two design and engineering sites, two vehicle manufacturing facilities, a components and finishing facility, an electric propulsion manufacturing centre, and a battery assembly centre in the UK. We also have vehicle plants in China (joint venture), Slovakia, India, and Brazil, as well as seven technology hubs across the globe.

Generali Central Life Insurance Expands ‘Here Now’ To Support Long‑Term Planning Across Key Life Stages

* From Children’s Goals To Retirement With Life Insurance

* While ‘Here Now’ Phase 1 focused on New Beginnings, the Phase 2 sharpens the narrative towards life‑stage planning, offering solutions centered on two pivotal needs — children’s future aspirations and retirement preparedness.

* Building on the belief that the future is built in the present, the campaign showcases how life insurance empowers people to dream fearlessly, think audaciously and embrace “Bada Socho for your bindass” dreams.

Generali Central Life Insurance (GCLI) has rolled out the next phase of its national brand campaign, ‘Here Now’, with a sharper focus on life insurance solutions across two pivotal life stages — children’s future aspirations and retirement security. Building on the Company’s refreshed identity following Central Bank of India’s entry as a joint‑venture partner in 2025, the campaign reinforces the brand’s commitment to empowering individuals and families to make informed financial decisions today for a stronger, more secure tomorrow. As a true Lifetime Partner, the life insurer stands by customers through every stage of life, whether they are planning for their children’s dreams or preparing for a carefree, fulfilling retirement, strengthening its promise of care and consistent support throughout their financial journeys.

The campaign urges customers to view life insurance as more than protection, positioning it as an enabler of real ambitions and long‑term financial goals for themselves and their children. The narrative brings these themes to life by capturing relatable, aspirational moments from the campaign films — kids imagining bold futures or couples rediscovering passion and adventure in retirement. These visuals reinforce the campaign’s core belief: that thoughtful planning today enables people to dream fearlessly, think audaciously and live out “Bada Socho for your bindass dreams” across every life stage.

The campaign reframes life insurance solutions for children as a foundation for future possibilities and retirement as a phase of renewed independence and purpose. For customers looking to secure their children’s future, Generali Central Long Term Income Plan, Generali Central Money Back Super Plan and the Generali Central Assured Education Plan form some of the key solutions. To meet retirement‑related needs, options like the Generali Central Long Term Income Plan, the Generali Lifetime Partner Plan and the Generali Central Money Back Super Plan offer structured planning.

Commenting on the launch, Mr. Alok Rungta, MD & CEO, Generali Central Life Insurance, said, “JFM is one of the most important periods for financial decision‑making in India, also especially in life insurance, when customers actively reassess their priorities for the year ahead. At this time, categories like children’s future planning and retirement security become even more critical. Through this initiative, we want people to see life insurance not just as protection, but as an enabler of the life they envision—whether securing their children’s aspirations or planning confidently for their own future. Backed by Generali’s global expertise and the Central Bank of India’s trusted legacy, we remain committed to empowering Indians to make informed, timely and confident financial choices that support their long‑term ambitions.”

Built to reach and resonate across Bharat, the campaign is being amplified through a sharp, focused media presence across Out of Home, television, digital and regional touchpoints, aimed at deepening life insurance awareness and supporting customers across major life stages. A strong Out‑of‑Home presence across 50+ cities, supported by transit media and pop radio channels, expands visibility across both urban and semi‑urban markets. By balancing reach with relevance, the campaign strengthens visibility among families planning for children’s futures and retirement, reinforcing Generali Central Life Insurance’s commitment to making life insurance simpler and easier to act on for consumers.

Coca-Cola India Brings #MaidaanSaaf To The ICC Men’s T20 World Cup 2026

Anandana – The Coca-Cola India Foundation, in partnership with the International Cricket Council (ICC), is bringing #MaidaanSaaf to the ICC Men’s T20 World Cup 2026 matches in India, reinforcing responsible waste practices in stadiums on match days.

Building on its presence at previous ICC tournaments, #MaidaanSaaf is designed to support cleaner stadiums, effective waste segregation, and recyclable recovery at one of the world’s highest-footfall sporting events. The initiative works closely with stadium authorities, housekeeping teams, event partners, recyclers and local stakeholders to strengthen on-ground waste management systems during the tournament.

Anandana, in collaboration with Ek Saath – The Earth Foundation and Greenmyna, will be implementing waste management across stadium venues and ensuring proper segregation and recovery of recyclables and compostables. At the five host stadiums in India and across 30+ matches, #MaidaanSaaf will focus on visible, practical interventions, including clearly marked segregation points, material recovery support, and on-ground awareness aimed at encouraging fans to dispose of waste responsibly thereby enabling efficient collection and recycling.

Central to the initiative are safai saathis – the sanitation and housekeeping workforce whose efforts ensure that large sporting venues function efficiently during high-footfall events. At the stadiums, #MaidaanSaaf will support safai saathis through visible recognition, structured work processes, and better segregation infrastructure, helping them collect, sort, and channel waste responsibly during match days. The initiative also encourages fans to participate through simple actions such as using the right bins and keeping common areas litter-free.

As part of the #MaidaanSaaf activation, sustainable beverage cups will also be introduced at select venues during the tournament. Designed as collectible merchandise for fans, the cups are intended to encourage mindful consumption and responsible disposal.

Commenting on the initiative, Devyani R.L. Rana, Vice President – Public Affairs, Communications and Sustainability, Coca-Cola India and Southwest Asia, said “The ICC Men’s T20 World Cup brings together millions of fans, and with that scale comes a clear responsibility to manage waste thoughtfully. Through Maidaan Saaf, we’re integrating responsible waste disposal into the match-day experience by making segregation and collection more visible and accessible for fans. Our ongoing partnership with the ICC allows us to work closely with local partners on the ground to strengthen waste recovery systems and build awareness that extends beyond the tournament. These efforts are part of our broader focus on improving collection and recycling systems so packaging waste is recovered responsibly and put to purposeful use.”

Anurag Dahiya, Chief Commercial Officer, ICC said, “Delivering a world-class tournament experience extends beyond the action on the field. Through our collaboration with Coca-Cola India and the #MaidaanSaaf initiative, we continue to support cleaner venues and responsible practices while encouraging fans to play an active role in large sporting events.”

The return of #MaidaanSaaf at the ICC Men’s T20 World Cup 2026 builds on Coca-Cola India’s earlier activations across major sporting events, including the ICC Men’s Cricket World Cup 2023 and the ICC Women’s Cricket World Cup 2025. During the 2023 Men’s World Cup, Coca-Cola India also supported the creation of recycled PET country flags and ICC Unity flags, made using recycled material and later recognised by the Limca Book of Records. Together, these efforts reflect a broader focus on responsible waste practices, enabled through partnerships and on-ground systems.

Aligned with Coca-Cola India’s broader packaging waste reduction strategy that includes a partnering to collect approach, #MaidaanSaaf reflects the company’s continued focus on practical, collaborative solutions that support waste recovery while highlighting the people who make these systems work on the ground.

Through #MaidaanSaaf at the ICC Men’s T20 World Cup 2026, Coca-Cola India continues to integrate responsible waste practices into moments that matter most to fans.

For more information on Maidaan Saaf, visit the website at https://www.maidaansaaf.com

Angel One AMC launches Angel One Silver ETF And Angel One Silver ETF FOF

* Angel One Silver ETF: NFO Period from 09th February to 19th February 2026 &

* Angel One Silver ETF FOF: NFO Period from 09th February to 23rd February 2026, offering access to silver through both ETF & Fund of Fund (FOF) route.

Angel One Asset Management Company Limited, a wholly owned subsidiary of Angel One Limited, announced the launch of Angel One Silver ETF and Angel One Silver ETF FOF. The New Fund Offers (NFOs) are open for subscription from 09th February 2026 and close on 19th February 2026 for the ETF, while the FOF will remain open until 23rd February 2026.

Both schemes offer exposure to silver by tracking domestic prices, providing investors with price transparency and ease of investing. The ETF will allow investors to invest through NSE on an ongoing basis, while the FoF will enable participation even without a demat account,

Silver is gaining prominence due to its dual role as a precious metal and industrial commodity, with rising demand from solar energy, electric vehicles, and data centres, alongside supply constraints, supporting strong investor interest. Reflecting this trend, AMFI data shows that Silver ETF AUM in India crossed ₹72000 crores in December 2025. Over last 10 year period ended 31st January 2026, Silver (INR) delivered CAGR of 25.8%, reinforcing its potential for portfolio diversification and inflation-hedging benefits.

Speaking on the launch, Mr. Hemen Bhatia, Executive Director & CEO, Angel One AMC, said, “Silver is no longer just a precious metal; it is emerging as a strategically important asset in the modern global economy. Its growing role across next-generation industries and critical technologies is creating sustained structural demand, making silver a compelling long-term investment. As investors adapt their portfolios to a rapidly evolving world, exposure to silver is becoming increasingly relevant for diversification and resilience. Through our Silver ETF and Silver FOF, we aim to provide a simple, transparent, and cost-efficient way for investors to participate in the long-term potential of this dynamic asset class.”

Key Features
During the NFO, the Angel One Silver ETF will allow investment with a minimum application of Rs. 1,000 and in multiples of Re. 1 thereafter. Post listing on NSE, the units will be traded on the NSE, providing liquidity and real-time price discovery. The scheme eliminates the operational challenges of holding physical silver, such as storage, purity verification, and making charges, while also offering the potential for margin usage subject to exchange norms.

The Angel One Silver ETF FOF is structured as a FOF scheme that will invest in units of the Angel One Silver ETF, enabling investors to access silver without requiring a demat account. The minimum application amount is Rs. 500, with flexible systematic investment plan (SIP) options starting at Rs. 250 for daily contributions and Rs. 500 for weekly, fortnightly, and monthly frequencies, while quarterly SIPs start at Rs. 1,500.

Together, the schemes provide a convenient, cost-efficient route to gain silver exposure with no exit load, suitable for investors seeking portfolio diversification. For Angel One AMC, the launch marks its entry into the silver investment category, expanding its passive product portfolio alongside the Gold ETF and Gold FOF, and strengthening its position in ETFs across equity, debt, and commodity asset classes.

Source: AMFI, MFI, Bloomberg, FBIL (Financial Benchmarks India Private Limited)

CAGR – Compound Annual Growth Rate

Silver Price in INR is calculated based on USD Silver prices from LBMA (London Bullion Market Association) and converted to INR using exchange rates published by FBIL.

About Angel One Asset Management Company Limited:

Angel One Asset Management Company Limited (AMC), a wholly owned subsidiary of Angel One Limited focuses exclusively on passive mutual funds. Dedicated to democratizing wealth creation, it offers a suite of passive investment options, i.e., Index Funds and ETFs. Angel One AMC will contribute to financial inclusion by taking passive mutual funds to investors across India.

About Angel One Limited
Angel One Limited (NSE: ANGELONE, BSE: 543235) is one of India’s leading FinTech platform, transforming how millions invest and build wealth. With a client base of over 36 million in January 2026, the company offers a wide range of digital-first solutions across broking, advisory, margin funding, wealth and asset management (AMC) and distribution of third-party financial products like mutual funds, credit, fixed income and insurance.

With a sharp focus on scalable tech, Angel One integrates AI, machine learning and data-driven intelligence, to deepen client engagement and retention. Its flagship Super App, NXT, developer-focused SmartAPI - an open API platform for traders - and Smart Money - a comprehensive investor education platform, are designed to serve users, which are mobile-first, data-savvy and growth-driven. Combining FinTech innovation with deep industry expertise, Angel One is empowering clients in their financial journey.

Zydus Lifesciences Limited Reports Robust Financial Performance For Q3 & 9M FY26

Zydus Lifesciences Ltd. Announced Its Unaudited Consolidated Financial Results For Quarter And Nine Months Ended December 31st, 2025.

Key Financial Highlights

Q3 FY26 Highlights

Revenue from operations at Rs. 68,645 mn, up 30% over last year.

Research & Development (R&D) investments for the quarter stood at Rs. 6,074 mn (8.8% of revenues).

EBITDA for the quarter was Rs. 18,164 mn, up 31% YoY. EBITDA margin for the quarter stood at 26.5%, which is an improvement of 20 bps on a YoY basis.

Net Profit (Adjusted)1 for the quarter was Rs. 11,109 mn, up 9% YoY.

Capex (organic) for the quarter was Rs. 4,637 mn.

9M FY26 Highlights

Revenue from operations at Rs. 1,95,614 mn, up 17% over last year.

R&D investments stood at Rs. 15,750 mn (8.1% of revenues).

EBITDA was Rs. 59,207 mn, up 20% YoY. EBITDA margin stood at 30.3%, which is an improvement of 80 bps over the previous year.

Net Profit (Adjusted)1 was Rs. 38,640 mn, up 15% YoY.

Capex (organic) for the nine months was Rs. 13,568 mn.

Net Debt to Equity ratio as on 31st December 2025 was 0.11x while Net Debt to EBITDA stood at 0.36x at the end of December 2025.

Our robust performance in 3QFY26 across key businesses reinforces the strength and scalability of our base business. Our disciplined M&A and business development strategy is translating into tangible results, laying a strong foundation for sustained value creation. Anchored in patient centricity, supported by unwavering compliance and an agile supply chain, we continue to deliver quality products globally. We remain focused on consistent execution and driving long-term shareholder value.

Dr. Sharvil Patel, Managing Director - Zydus Lifesciences Limited

Q3 FY26 Business Updates

Pharma Business

India Formulations business

· Registered revenues of Rs. 17,094 mn, up 13% y-o-y. The business accounted for 25% of consolidated revenues.

· Branded business grew faster than the market with 14% y-o-y growth driven by sustained traction in innovation products and pillar brands.

· Chronic segment continued to grow at a faster pace, driving the overall growth of the business.

· Outpaced IPM growth in key therapies of Cardiology, Respiratory, Dermatology, Pain Management and in super specialty areas of Oncology and Nephrology.

· On the super specialty front, continued to retain leadership position in Oncology segment.

· Share of chronic portfolio has increased consistently over last several years and stood at 45.3%, which is an improvement of 560 bps over the last 3 years (Source: IQVIA MAT December 2025 data).

· Expanded presence in diagnostics through a strategic collaboration with Myriad Genetics of the US. Introduced three advanced tests viz. MyChoice, MyRisk, and Prolaris thereby strengthening our precision oncology ecosystem.

North America formulations business

· Registered revenues of Rs. 28,043 mn, up 16% y-o-y and 2% q-o-q. The business accounted for 41% of consolidated revenues.

· In constant currency terms, the business registered revenues of US$ 314 mn.

· In the US generics space, launched 4 new products, filed 18 ANDAs and received approval for 8 ANDAs (incl. 4 tentative approvals) during the quarter.

· On the US specialty front, launched Beizray, the first oncology 505(b)(2) product, strengthening the specialty portfolio.

· On the orphan and rare disease front in the US, recently, in January 2026, received USFDA approval for Zycubo® (copper histidinate). Zycubo® is the first and only approved therapy for the treatment of Menkes disease, which is an ultra-rare disease.

· In the US bio CDMO space, completed acquisition of two biologics manufacturing facilities located in California, US from Agenus Inc.

· In Canada, filed 5 ANDS, received 4 approvals and launched 1 new product during the quarter.

International Markets formulations business

· Registered revenues of Rs. 7,881 mn, up 38% YoY. The business accounted for 12% of consolidated revenues.

· Growth was broad-based across regions, with strong demand-driven performance in both emerging markets and Europe, supported by focused execution.

API business

· Registered revenues of Rs. 2,143 mn, up 26% y-o-y. The business accounted for 3% of consolidated revenues.

Alliances & Others

· Registered revenues of Rs. 69 mn, down 31% y-o-y. The business accounted for 0.1% of consolidated revenues.

Consumer Wellness business

· Registered revenues of Rs. 9,578 mn, up 113% y-o-y, with full quarter of consolidation of Comfort Click Limited (CCL) business in this quarter. The business accounted for 14% of revenues.

· Excluding CCL, the business delivered double-digit volume growth, reflecting the underlying demand momentum.

· CCL continued to perform in line with expectations and expanded its portfolio with four new adult gummy variants, one probiotic gummies variant for kids, and Pure Himalayan Shilajit Resin, reinforcing its position in high-growth wellness categories.

· WeightWorld brand advanced its European expansion by entering Poland, Finland and Portugal, strengthening CCL’s regional footprint and unlocking access to fast-growing wellness markets.

Medtech business

· Registered revenues of Rs. 2,996 mn. The business accounted for 4% of consolidated revenues.

· This was the first full quarter of consolidation of Amplitude Surgical’s business.

· Jarod injectable facility received Establishment Inspection Report (EIR) with Voluntary Action Indicated (VAI) status from the USFDA post the inspection conducted in September 2025.

· Oral Solid Dosage (OSD) facility located in Ahmedabad SEZ (SEZ II site) also received EIR with No Action Indicated (NAI) status from the USFDA post the pre-approval inspection conducted in August 2025.

NCE Research – Saroglitazar Magnesium

· Preparing to file New Drug Application (NDA) of the molecule with the USFDA during the current quarter.

Biotech R&D

· Received regulatory approval to initiate Phase III clinical trials of our second biosimilar antibody drug conjugate in India.

Vaccines R&D

· Initiated Phase II clinical trial of Bivalent Typhoid Conjugate Vaccine in India.

· Awarded the tender to supply the rabies vaccine to PAHO for Latin American countries and the typhoid conjugate vaccine to UNICEF for low- and middle-income countries (LMICs).

US Specialty and 505(b)(2) Initiatives

· Entered into an exclusive licensing and commercialization agreement for a novel sterile injectable 505(b)(2) product in oncology supportive care. NDA filing with the USFDA is expected in 2026.

· Forayed into the US biosimilars space through an exclusive in-licensing partnership for the biosimilar of Pembrolizumab.

· Acquired commercial rights from Bioeq AG for Nufymco®, an interchangeable biosimilar to Ranibizumab. BLA for Nufymco® has been approved by the USFDA.

MedTech

· Received CE mark approval for the proprietary ‘Andy’ robotic surgical system, confirming its compliance with European safety and quality standards.

Aditya Birla Sun Life AMC Announces Final Close Of ABSL India Special Opportunities Fund

This category III AIF focusing on special situations across market caps has received total commitments of over ₹500 crore

Aditya Birla Sun Life AMC Limited (ABSLAMC) was incorporated in the year 1994. Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc. are the promoters and major shareholders of the Company. ABSLAMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund, a registered trust under the Indian Trusts Act, 1882. The asset manager has announced the final close of the Aditya Birla Sun Life India Special Opportunities Fund. The Category III, close-ended, multi-cap equity Alternative Investment Fund (AIF) focusing on special situations has received total commitments of over ₹500 crore, from nearly 400 investors, reflecting strong investor interest in special situations–led equity strategies.

The fund, managed by Sameer Narayan, Head – Alternate Investment Equity at ABSLAMC, is designed to capitalise on temporary market dislocations arising from company-specific, industry, regulatory, geopolitical, and behavioural or technological factors. Structured as a five-year close-ended fund, extendable by up to two additional years with investor consent, the fund follows a multi-cap approach, investing across large, mid, and select small-cap opportunities. The portfolio construction focuses on 25–30 high-conviction stocks, backed by strong balance sheets, quality management, disciplined capital allocation, and robust risk management processes. The strategy seeks to identify fundamentally strong businesses that are poised to benefit from micro and macro turnarounds, corporate events such as demergers or deleveraging, management changes, shifts in business cycles, and secular growth opportunities, with investments typically expected to play out over a 2–3-year horizon.

Commenting on the final close, A. Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC Ltd., said, “The successful final close of our India Special Opportunities Fund reflects growing investor interest in differentiated equity strategies that can navigate market volatility and capture value from structural and cyclical dislocations. With India’s evolving economic landscape creating frequent pockets of mispricing, our strategy is well-positioned to identify quality businesses at attractive entry points. With investor commitments of over ₹500 crore and substantial capital already deployed, the fund underscores growing confidence in our special opportunities approach and our disciplined investment process.”

About Aditya Birla Sun Life AMC Limited

Aditya Birla Sun Life AMC Limited (ABSLAMC) was incorporated in the year 1994. Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc. are the promoters and major shareholders of the Company.

ABSLAMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund, a registered trust under the Indian Trusts Act, 1882. ABSLAMC also operates multiple alternate strategies including Portfolio Management Services, Real Estate Investments and Alternative Investment Funds. ABSLAMC is one of the leading asset managers in India, servicing around 10.8 million investor folios with a pan India presence across 310+ locations and overall AUM of Rs. 4,814 billion for the quarter ending December 31, 2025 under its suite of Mutual Fund (excluding domestic FoFs), Portfolio Management Services, Alternative Investment Funds, Offshore and Real Estate offerings.

About Aditya Birla Capital Limited

Aditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 66,000 employees, the businesses of ABCL have a nationwide reach with 1,742 branches and more than 200,000 agents/channel partners along with several bank partners.

ABCL and its subsidiaries/JVs manage aggregate assets under management of about Rs. 6 Lakh Crore with a consolidated lending book of over Rs 1.90 Lakh Crore as of Dec 31, 2025.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of Mar 31, 2025, Sun Life had total assets under management of $1.55 trillion. For more information, please visit www.sunlife.com. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Investments in securities are subject to market risks and there can be no assurance or guarantee that the objectives of the Product will be achieved.

Bank of Baroda Reduces Car Loan Interest Rates By 30 Bps To 7.60% P.A.

Bank of Baroda, India’s International Bank, today announced a reduction of 30 basis points in its Car Loan interest rates with immediate effect. The Bank’s floating rate now starts from 7.60%* p.a., (down from 7.90% p.a.). The Bank also offers an attractive fixed rate of interest on Baroda Car Loans, starting at 8.50%* p.a.

The new rate beginning at 7.60% p.a. is available on the purchase of a new car and is linked to a borrower’s credit profile.

In addition to a reduced ROI, the Bank is also offering borrowers zero prepayment/part-payment charges on floating rate car loans for individual borrowers. Further, the interest on Baroda Car Loans - both fixed and floating loans - is calculated on the Daily Reducing Balance method, making it even more affordable for borrowers. Customers can also benefit from an extended repayment tenure of up to 84 months, providing enhanced financial flexibility.

Commenting on the announcement, Shri Sanjay V. Mudaliar, Executive Director, Bank of Baroda said, “The reduction in car loan interest rates makes Bank of Baroda one of the most competitive players in the market and reflects our continued focus on offering affordable and accessible credit to consumers. Bank is committed to delivering customer-centric, digitally-enabled financing solutions to support the growing aspiration of car buyers across the country.”

Baroda Car Loans can be availed seamlessly through the Bank’s Digital Lending Platform available on the Bank’s website, bob World app or by visiting any Bank of Baroda branch across the country.

Key Features of Bank of Baroda Car Loans

· Floating interest rate car loans starting at 7.60% p.a.

· Fixed interest rate car loans starting at 8.50% p.a.

· No prepayment/part-payment charges on floating ROI for individuals

· Interest calculated on the Daily Reducing Balance method

· Flexible repayment tenure of up to 84 months

· Baroda Digital Car Loans available with quick approval in just a few steps

*T&C apply

About Bank of Baroda

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over ~180 million through around 65,000 touch points spread across 15 countries in five continents and through its various digital banking platforms, which provide all banking products and services in a seamless and hassle-free manner. The Bank’s vision matches the aspirations of its diverse clientele base and seeks to instil a sense of trust and security in all their dealings with the Bank.

· Visit us at https://bankofbaroda.bank.in/

· Facebook https://www.facebook.com/bankofbaroda/

· Twitter https://twitter.com/bankofbaroda

· Instagram https://www.instagram.com/officialbankofbaroda/

· YouTube https://www.youtube.com/@BankofBaroda

· LinkedIn https://www.linkedin.com/company/bankofbaroda

Jubilant Pharmova Reports Results For Q3 & 9M’FY26 On Track Towards Vision 2030

Solid revenue growth of 17% on the back of Line 3 in CDMO sterile Injectables

EBITDA margins to expand going forward as production stabilizes at Montreal facility and revenue ramps up at Spokane facility of CDMO Sterile Injectables business

 

Particulars (Rs. Cr.)	Q3’FY25	Q2’FY26	Q3’FY26	Y-o-Y		9M'FY25	9M'FY26	Y-o-Y
Revenue	1,822	1,966	2,123	17%		5,306	5,990	13%
Total Income	1,831	1,976	2,143	17%		5,351	6,032	13%
EBITDA	296	351	310	5%		873	963	10%
EBITDA Margin (%)	16.2%	17.8%	14.5%	(172) bps		16.3%	16.0%	(36) bps
Normalised PAT1	104	124	86	(17%)		277	313	13%
Normalised PAT Margin	5.7%	6.3%	4.0%	(168) bps		5.2%	5.2%	2 bps

 

1. Normalised PAT is after adjusting for exceptional items and corresponding tax.

The Board of Jubilant Pharmova Limited met to approve financial results for the quarter and nine months ended Dec 31, 2025.

Commenting on the Company’s performance in Q3’FY26, Mr. Shyam S Bhartia, Chairman Jubilant Pharmova Limited and Mr. Hari S Bhartia, Co-Chairman & Non-Executive Director, Jubilant Pharmova Limited said, “We are pleased to announce revenue of Rs. 2,123 Cr. for Q3’FY26, which reflects a solid growth of 17% on YoY basis. Revenue growth is particularly driven by incremental revenue generation from the new & third line in CDMO Sterile Injectable business. We expect this growth momentum to continue as we make progress in the last quarter of current financial year. EBITDA for the period grew by 5% YoY to Rs. 310 Cr. due to improved performance in CDMO Sterile Injectables and CRDMO business. Normalised PAT for the quarter stood at Rs. 86 Cr. As we are consciously investing in Radiopharma, CDMO Sterile Injectables and CRDMO business to secure future growth, Net Debt / EBITDA remains range bound at 1.3x in Dec’25, lower from 1.5x in Sep’25.

During Q3’FY26, we saw exceptional growth momentum in the Ruby-Fill® installs. In the Allergy Immunotherapy business, we witnessed increase in demand from the US market. In the CDMO Sterile Injectables business, we ramped up revenue generation from technology transfer programs at Line 3 in Spokane. In the CRDMO business, we continue to invest in building CDMO capabilities. In the Generics business, we are foreseeing growth & profitability improvement. Lastly, in our Proprietary Novel drugs business, we continue to make progress in JBI-802 and JBI-778 clinical trials.

During the quarter, we witnessed a decline in EBITDA margins, primarily due to the temporary shutdown of our CDMO Sterile Injectables facility in Montreal for remediation following FDA observations. Production has resumed at our Montreal site in Q4’FY26. We anticipate EBITDA margins to strengthen going forward, effectively offsetting higher depreciation costs and driving net profit growth.”

9M’FY26 Financial Highlights

Revenue grew by 13% on a YoY basis to Rs. 5,990 Cr. on the back of growth in revenue across all business segments.

EBITDA grew by 10% on a YoY basis to Rs. 963 Cr. due to improved performance across all business segments.

Normalised PAT increased by 13% on a YoY basis to Rs. 313 Cr. on the back of improved operating performance and reduced finance cost. Reported PAT in 9M’FY25 at Rs. 685 Cr. was higher because of one-time net exceptional income of Rs. 382 Cr.

Segmental Business Performance

Radiopharma - Leading Radiopharmaceutical manufacturer & 2nd largest Radiopharmacy network in the US

Radiopharmaceuticals Q3’FY26 revenue grew by 12% to Rs. 298 Cr. and EBITDA for the quarter stood at Rs. 122 Cr. The business continues to maintain a strong position in the high margin SPECT imaging product portfolio. In the Ruby-Fill® as we can demonstrate superior value proposition against competition, we are able to attract new channel partners. Our Ruby-Fill® install base has grown by 37% in 9M’FY26 on an annualised basis vs 21% in FY25. This improved scale is also helping to increase EBITDA margins in this product category. We are on track to introduce multiple new products in the PET and SPECT imaging from FY27 to FY29. The dosing for Phase 2 clinical trial for MIBG is complete and we are preparing data package to be submitted to FDA latest by Jun’26.

Radiopharmacy Q3’FY26 revenue grew by 11% YoY to Rs. 637 Cr. EBITDA margins for Q3’FY26 stood at 1%. EBITDA margins remained weak due to increased competitive intensity in the SPECT business. Last year, two of our PET radiopharmacies have started distributing PYLARIFY®, which is an industry leading prostate cancer diagnostic imaging agent. We continue to see increase in revenue from PET radiopharmacies. We have also started distributing Pluvicto, which is a leading radiopharmaceutical to treat Prostate cancer.

The proposed investment of US$ 50 million in PET radiopharmacy network is underway. This investment will take the overall PET radiopharmacy network to Nine (9) sites, thereby solidly positioning Jubilant Pharmova’s radiopharmacy network as the second largest in the US and shall drive the future business growth.

Allergy Immunotherapy - No. 2 in the US Sub-Cutaneous allergy immunotherapy market

As the sole supplier of Venom in the US, the business is expanding the overall market by increasing customer awareness. In the US Allergenic extracts, the business is working to increase revenues. The business is also working to increase penetration in the outside US markets.

In Q3’FY26, revenues grew by 12% to Rs. 193 Cr., driven by strong growth in the US & outside US markets. EBITDA remained flat YoY at Rs. 49 Cr. The QoQ decline in EBITDA was primarily due to lower production during the quarter. With production picking up now, we expect to recover the margin gap in Q4’FY26 to deliver normalized margins on a full year basis.

CDMO Sterile Injectables – Leading contract manufacturer in North America, serving top global innovators

Q3’FY26 revenue grew by 49% to Rs. 457 Cr. due to incremental revenue from ongoing technology transfer programs in Line 3. EBITDA grew by 31% on YoY basis to Rs. 68 Cr. EBITDA margins were lower YoY due to shutdown at Montreal facility on account of remediation post FDA observations. Production has resumed at the Montreal facility in Q4’FY26.

In 9M’FY26, EBITDA margins for the Spokane facility stand at 25%. However, the temporary shutdown of the Montreal facility for two quarters, coupled with higher remediation-related costs, has led to lower overall business segment margins to 18% for the nine-month period.

As we move into FY27, we expect to increase EBITDA substantially, supported by a structured cost‑reduction program at the Montreal facility. Our target is to achieve EBITDA breakeven at the Montreal site by FY28. In the medium term, we anticipate that the new isolator‑based fill‑and‑finish line (Line 5) will start generating revenues from FY29 onwards, thereby supporting future growth.

The capacity expansion program at our Spokane, Washington facility remains on track. Following the launch of our third Sterile Fill & Finish line (Line 3) in Q2’FY26, we are successfully ramping up revenues from technology transfer programs. Currently, 6+ products across multiple formats and vial sizes are undergoing technology transfer on Line 3. Commercial batch production is expected to commence in late FY27, subject to FDA approval of these products.

In light of the new tariffs imposed by the US Government, large innovator pharmaceutical companies are increasingly seeking high‑quality, US‑based manufacturing, specifically, those with significant capacities with isolator technology. As a result, we are seeing strong traction in Requests for Proposals (RFPs) for the new lines. The next phase of capacity expansion—Line 4—is also progressing as planned. We expect Line 4 to start generating technology transfer revenues by Q4’FY27.

CRDMO – Indian leader for integrated drug discovery & formidable API player

In Q3’FY26, the Drug Discovery business revenue grew by 13% to Rs. 169 Cr. Revenue continues to increase due to increase in revenue from large Pharma customers. EBITDA margins for Q3’FY26 stand at 26%. EBITDA margins are higher on QoQ basis due to improved revenue mix towards CDMO business. In the short term, we expect competitive intensity to increase in the large‑pharma customer segment, while demand conditions in the biotech segment are expected to improve. In the medium term, we expect to deliver healthy revenue growth & steady margins.

In the API business, revenue for Q3’FY26 stood at Rs. 129 Cr. EBITDA for the quarter stood at Rs. 18 Cr. EBITDA margins are flat YoY despite decrease in revenue due to profitable product mix. 9M’FY26 EBITDA margins improved by 280 bps to 15%. We have completed the sale and transfer of API Business to Jubilant Biosys Limited, a wholly owned subsidiary of the Company. This transaction has resulted in housing of the drug discovery business and CDMO API business in a single business entity. This combined platform will improve the operational efficiency in the business and lead to superior brand recall of “Jubilant Biosys Limited” as provider of end-to-end CRDMO services by the large pharmaceutical & Biotech customers. The transaction will also help to improve asset utilisation of API business by improving the revenue mix towards Custom manufacturing & CDMO.

Generics – Building a growing, profitable & agile business model

In Q3’FY26, the Generics business revenue grew by 13% to Rs. 226 Cr. EBITDA for the period stood at Rs. 26 Cr. In 9M’FY26, EBITDA margins increased by 150 basis points to 9%. The business has been profitable for the past three quarters and has now begun to show growth momentum. Looking ahead, we expect sustained progress toward the Generics Vision 2030 shared previously.

We plan to launch 6 to 8 products per annum in our US and non-US international markets. In line with our plan, we are ramping up exports to the US markets in a meaningful and gradual manner. We have also started supply of products from our Contract manufacturing partners to the US market.

Proprietary Novel Drugs – Innovative biopharmaceutical company developing breakthrough therapies

The global clinical trials for our lead programs, Phase II trial for JBI -802 for Essential Thrombocythemia (ET) and other Myeloproliferative Neoplasms (MPN) and Phase I trial for JBI -778 for non-small cell lung cancer (NSCLC) and high grade Glioma are actively enrolling patients and progressing in line with our expectations.

About Jubilant Pharmova Limited

Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company with a global presence that is involved in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organisation (CRDMO), Generics and Proprietary Novel Drugs businesses. In the Radiopharma business, the Company is involved in the manufacturing and supply of Radiopharmaceuticals with a network of 45 radiopharmacies in the US. The Company’s Allergy Immunotherapy business is involved in the manufacturing and supply of allergic extracts and venom products in the US and in some other markets such as Canada, Europe and Australia. Jubilant Pharmova Limited through its CDMO Sterile Injectables business offers manufacturing services including sterile fill and finish injectables (both liquid and lyophilization), full-service ophthalmic offer (liquids, ointments & creams) and ampoules. The CRDMO business of the Company includes the Drug Discovery Services business that provides contract research and development services through two world-class research centers in Bengaluru and Noida in India and one in France. The CDMO-API business that is involved in the manufacturing of Active Pharmaceutical Ingredients. Jubilant Therapeutics is involved in the Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. The Company operates multiple manufacturing facilities that cater to all the regulated markets including USA, Europe and other geographies. Jubilant Pharmova Limited has a team of around 5,500 multicultural people across the globe. The Company is well recognised as a ‘Partner of Choice’ by leading pharmaceuticals companies globally.