Hester Biosciences Ltd — Management Reports 2019

Oct 9, 2019

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9 October 2019

To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra - Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 524669 Symbol: HESTERBIO

Respected Sir/Madam:

Subject: Exports from Hester Nepal; With reference to articles appearing in news on UN's financial situation

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Regulations"), we would like to inform regarding our CEO & Managing Director’s note on “ Exports from Hester Nepal; With reference to articles appearing in news on UN's financial situation” as attached herewith.

Kindly take note of the same and consider in your records.

Sincerely, For Hester Biosciences Limited

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Rajiv Gandhi CEO & Managing Director DIN: 00438037

Encl: As above

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9 October 2019

Dear Shareholder, Stakeholder:

Many of you have forwarded me articles which talk about The United Nations running out of money. Some have expressed a concern.

Your reason to forward the articles or to express this concern is due to the fact that you have a feeling that our Nepal plant is dependent on FAO tenders for PPR vaccine. Such a situation at UN, in your minds, could hamper the business of Hester Nepal.

While surely hoping that FAO starts floating PPR vaccine procurement tenders, please note that we are already working on models wherein we have no dependency on a product or a geography or on any specific tenders. We are working towards ensuring that our business forecasts and objectives, more so at Hester Nepal, are met at the earliest.

We have already started to market the Hester Nepal’s PPR vaccine through our country distributors, through the private market channels.

Besides this, you would be pleased to know that the following channels are additionally being used to derive business from our Nepal plant:

1. Country tenders: The worldwide PPR disease eradication program is in any case in place. Quite a few countries have started floating tenders for buying the PPR vaccine directly. It will be our attempt to win such tenders.

2. Manufacturing and marketing of poultry vaccines within Nepal: While having got the manufacturing license, we have recently got market authorisations for quite a few poultry vaccines which are manufactured in Nepal. We are creating a strong marketing and a distribution network within Nepal. Our endeavour is to make Nepal self-sufficient in poultry vaccines.

3. We have received the manufacturing licence for the Classical Swine Fever vaccine, for which registration is on-going in a few South East Asian countries. This vaccine has a good demand in that region.

Situations change, towards which actions have to be taken to ensure that we continue our progress towards our objectives.

Hester Nepal is on the right track, may be temporarily at a slower pace, but we are confident that we shall reach our goal to make Hester Nepal as well as Hester India as sources for animal vaccines, across the globe.

Going further, this endeavor, in any way, does not compromise our objective to maintain our profitability.

Sincerely, For Hester Biosciences Limited Rajiv Gandhi CEO & Managing Director