Panacea Biotec Ltd. — Interim / Quarterly Report 2025

Feb 11, 2026

February 11, 2026

The Manager, Listing Department The National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 NSE Symbol: PANACEABIO

BSE Limited Corporate Relationship Department, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

BSE Scrip Code: 531349

Sub: Standalone and Consolidated Unaudited Financial Results (Provisional) along with Limited Review Report for the quarter and nine months ended December 31, 2025

Ref: Regulation 30 & 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

In continuation to our letter dated February 02, 2026, and pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"), we would like to inform you that the Board of Directors has at its meeting held today, i.e. Wednesday, February 11, 2026, inter-alia, considered and approved the Standalone and Consolidated Unaudited Financial Results of the Company (which have been subjected to Limited Review by the Statutory Auditors) for the quarter and nine months ended December 31, 2025. The same was also reviewed by the Audit Committee in its meeting held on Wednesday, February 11, 2026. A copy of the said statements of financial results along with the Limited Review Report is enclosed herewith as Annexure - A.

Pursuant to Regulation 46(2)(l) of the SEBI LODR Regulations, the aforesaid statements of financial results are being uploaded on the website of the Company i.e. www.panaceabiotec.com.

Further, pursuant to Regulation 47(1)(b) of the SEBI LODR Regulations, the Quick Response Code and the details of the webpage where complete financial results of the Company for the quarter and nine months ended December 31, 2025, are accessible to the Investors, is being sent for publication in newspapers.

The meeting of the Board of Directors commenced at 03.30 P.M. and concluded at 06:45 P.M.

This is for your information and records please. Thanking you Sincerely yours, for Panacea Biotec Limited Ankit Jain General Manager-Legal & Company Secretary ANKIT JAIN Digitally signed by ANKIT JAIN Date: 2026.02.11 19:46:29 +05'30'

Encls: As above

												(~ in Lakh except per share)
k; ( Panacea Biotec !llO>'>V H;•>r, t» ·,,,p , > <h 1="" i)!="" l•)e<="" th="">	Extract of Standalone and Consolidated Financial Results (Unaudited) for the Quarter and Nine Months Ended December 31, 2025										Extract of Standalone and Consolidated Financial Results (Unaudited) for the Quarter and Nine Months Ended December 31, 2025
		Standalone							Consolidated
		Quarter Ended			Nine Months Ended	Year Ended	Quarter Ended			Nine Months Ended		Year Ended
Particulars		December September 30, December		December	December			March 31, December Septem her 30, December		December	December	March 31 ,
	31, 2025	2025	31,2024	31, 2025	31,2024	2025	31, 2025	2025	31, 2024	31, 2025	31, 2024	2025
		(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) (Unaudited) (Unaudited)								(Unaudited) (Unaudited) (Unaudited)		(Audited)
Total income from operations	9,931	9,08 1	10,843	30,237	24, 195	30,985	16,519	14,113	16,349	47,302	42,656	55,909
Net Profit / (Loss) for the period/year (before tax, exceptional and/or extraordinary item)	(947)	(2,093)	965	(3,924)	(403)	(2,606)	372	(2, 187)	161	(2,291)	(1,619)	(4,394)
Net Profit / (Loss) for the period/year before tax (after exceptional and/or extraordinary item)	(947)	(2,093)	965	(3,924)	(403)	(2,606)	649	(1 ,917)	438	(612)	(791)	(795)
Net Profit / (Loss) fo r the period/year after tax (after exceptional and/or extraordinary item)	(736)	(1 ,564)	965	(2,970)	(284)	(1 ,523)	389	(1 ,401)	444	(616)	(673)	(872)
Total comprehensive income/(loss) for the period/year (comprising ofprofit/(loss) for the period/year (after tax) and other comprehensive income (after tax))	(702)	(1 ,563)	963	(2,933)	(289)	(1,518)	435	(1 ,402)	436	(573)	(698)	(761)
Equity Share Capital (face value on I per share)	613	613	613	613	613	613	613	613	613	613	613	613
Eaming/(loss) per equity share, (annualised, except for quarters / Nine Months): Basic and Diluted	(1.20)	(2.55)	1.58	(4.85)	(0.46)	(2.49)	0.65	(2.27)	0.74	(0.97)	(1.06)	(1.37)

Notes:

The above is an extract of the detailed fonnat of Quarterly and Nine Months Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full fonnat of the Quarterly and Nine Month Financial Results is available on the Stock Exchanges websites, NSE- http://www.nseindia.com, BSE- http://www.bseindia.com and is also available on the Company's website, http://www.panaceabiotec.com.

2 The said fi nancial results for the Quarter and Nine Months Ended December 31 , 2025 were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meetings held on February 11 , 2026 and have been reviewed by the statutory auditors of the Company.

3 The fi nancial results have been prepared in accordance with the recognition and measurement principles of applicable Indian Accounting Standard ("lnd-AS") notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in section 133 of the Companies Act, 20 13.

4 Previous period / year amounts have been regrouped/ reclassified to make them comparable with those of current period/ year.

Place: New Delhi Date: February 11, 2026

For and on behalf of the Board of Directors of Panacea Biotec Limited

..

Chairman & Managing Director

Panacea Biotec Limited

Regd. Office· Ambala-Chandigarh Highway, Lalru- 140501 , Punjab CIN: L33 l 17PB 1984PLC022350 - Ph. No. 91 - 11 -41679000, Fax: 91-11-41679070, Website: https://www.panacea-biotec.com, E-mail: Corporate@panaceabiotec.com

. and the contract of the
. .
The Company of the Company
and the same
	×.

/ Panacea Biotec

~ Statement of Standalone and Consolidated Financial Results (Unaudited) for the Quarter and Nine Months Ended December 31, 2025

	lnn,.v:,ti<>r, ;,. ""l'r>url· nl ',t,~
												(fin Lakh except per share)
S.No	Particulars				Standalone				Consolidated
			Quarter Ended		Nine Months Ended		Year Ended	Quarter Ended			Nine Months Ended		Year Ended
		December	September	December	December		December March 31, 2025 December September			December	December	December	March 31,
		31, 2025	30, 2025	31, 2024	31,2025	31, 2024		31,2025	30, 2025	31, 2024	31 , 2025	31, 2024	2025
					(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)		(Audited)		(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)				(Audited)
	I Income:
	a) Reven ue from operations	9,93 1	9,08 I	10,843	30,237	24, 195	30,985	16,5 19	14,1 13	16,349	47,302	42,656	55,909
	b) Other income	384	361	332	1,240	1,053	1,662	228	640	362	1,435	1,207	2,066
	Total Income	10,315	9,442	11,175	31,477	25,248	32,647	16,747	14,753	16,711	48,737	43,863	57,975
	II Expenditure:
	a) Cost of raw and packing materials consumed	7,288	2,688	2,816	16,070	6,464	12,40 1	9,0 17	4,658	4,874	20,946	13,075	21 ,407
	b) Purchase of traded goods	208	78	-	400		175	238	191	15	630	I 5	760
	c) Changes in inventories of finished goods, traded goods and work-in-progress	(2,723)	1,774	1,0 15	(943)	1, 104	(2,306)	(2,462)	1,045	1,3 66	( 1, 167)	1,656	(2,2 13)
	d) Employee benefits expense	2,5 16	2,704	2,378	7,757	6,976	9,702	4,053	4,771	4,298	13,396	12,392	17,305
	e) Finance cost	704	593	385	1,897	1,082	1,546	185	2 14	99	485	284	388
	f) Depreciation and amortisation expense	489	49 1	52 1	1,457	1,538	2,029	845	834	898	2,518	2,639	3,481
	g) Other expenses	2,780	3,207	3,095	8,763	8,487	11 ,706	4,499	5,227	5,000	14,220	15,42 1	21 ,241
	Total expenses	I 1,262	11 ,535	10,210	35,401	25,651	35,253	16,375	16,940	16,550	51 ,028	45,482	62,369
	III Profit/(loss) before tax and exceptional it em (1-11)	(947)	(2,093)	965	(3,924)	(403)	(2,606)	372	(2,187)	161	(2,291)	(1,619)	(4,394)
	IV Exceptional items (refer note 5)							277	270	277	1,679	828	3,599
	V Profiti(loss) before tax (lll+IV)	(947)	(2,093)	965	(3,924)	(403)	(2,606)	649	(1,917)	438	(612)	(791)	(795)
	VI Tax expense;
	a) Current tax (net)							5	3	(0)	8		I
	b) Deferred tax charge/(created)	(2 1 I)	(529)		(954)	(I 19)	(1,083)	255	(5 19)	(6)	(4)	(I 18)	76
	Total tax expenses	(211 )	(529)	-	(954)	(119)	(1 ,083)	260	(516)	(6)	4	(118)	77
	VII Net Profit/(loss) after tax for the period/year (V-VI)	(736)	(1 ,564)	965	(2,970)	(284)	(1,523)	389	(l ,40I)	444	(616)	(673)	(872)
	VIII Profit/(loss) for the period/year attributable to:
	i) Owners of the Company	(736)	(1 ,564)	965	(2,970)	(284)	(1,523)	398	( 1,392)	452	(589)	(648)	(837)
	ii) Non-controlling interest							(9)	(9)	(8)	(27)	(25)	(35)
	IX Other comprehensive income/(loss):				49		7		(I)	(I I)	57	(34)	(8)
	a) i) Items that will not be reclassifi ed to profit or loss ii) Income tax related to above	45 (11)	2 (!)	(2)	(12)	(6) I	(2)	61 (I 5)		3	(14)	9	2
	b) i) Items that wi ll be reclassified to profit or loss							-					117
	ii) Income tax related to above							-
	X Total comprehensive income/(loss) for the period/year (VII+IX)	(702)	(1 ,563)	963	(2,933)	(289)	(1,518)	435	(1 ,402)	436	(573)	(698)	(761)
	XI Total comprehensive income/(loss) attributable to:
	i) Owners of the Company	(702)	(1,563)	963	(2,933)	(289)	(1,518)	444	( 1,393)	444	(546)	(673)	(726)
	ii) Non-cont rolling interest							(9)	(9)	(8)	(27)	(25)	(35)
	XII Paid-up equity share capital (face value off 1/- each)	6 13	613	613	613	6 13	6 13	6 13	6 13	6 13	6 13	6 13	613
	XIII Other equity						30,784	-					82,866
	XIV Earning/(loss) per equity share (annualised, except for quarters/ half yea rs)
	Basic and Di lut ed (in ?)	(120)	(2.55)	1.58	(4.85)	(0.46)	(2.49)	0.65	(2.27)	0.74	(0.97)	(106)	(1.37)

Statement of Standalone and Consolidated Financial Results (Unaudited) for the Quarter and Nine Months Ended December 31 , 2025
Unaudited Seement-wise Revenue, Results and Capita l Emploved
						(fin Lakh)
Particulars				Consolidated
		Quarter Ended			Nine Months Ended	Year Ended
	December	September	December	December		December March 31, 2025
	31 , 2025	30, 2025	31, 2024	31, 2025	31,2024
				(Unaud ited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)		(Audited)
a) Segment revenue
(i) Vaccines	9,924	9,081	10,845	30,230	24,194	30,984
(ii) Formulations	6,595	5,032	5,504	17,072	18,462	24,925
Sub total	16,519	14,113	16,349	47,302	42,656	55,909
Less: Inter segment revenue
Total seement revenue	16,519	14,113	16,349	47,302	42,656	55,909
b) Segment results
Profit(+)/ loss(-) before tax (i) Vaccines	(257)	(1 ,657)	1,196	(2,339)	233	(1 ,652)
(i i) Formulations	906	(260)	(758)	1,727	(1 ,024)	857
Sub total	649	(1,917)	438	(612)	(791)	(795)
Other unallocated expenditure net of unallocated income and exceptional items
Total Profit/(loss) before tax	649	(1 ,917)	438	(612)	(791)	(795)
c) Capit al employed
Segment assets
(i) Vaccines	89,686	87,090	79,086	89,686	79,086	89, 119
(i i) Formulations	40,340	38,360	42,070	40,340	42,070	39,856
Sub Total	1,30,026	1,25,450	1,21,156	1,30,026	1,21,156	1,28,975
Segment liabilities
(i) Vaccines	33,537	30,49 1	28,461	33,537	28,46 I	35,087
(i i) Formu lations	13,682	12,753	9,597	13,682	9,597	10,826
Sub Total	47,219	43,244	38,058	47,219	38,058	45,9 13
Capital employed (Segment assets - segment liabilities)
(i) Vaccines	56, 149	56,599	50,625	56,149	50,625	54,032
(ii) Formul at ions	26,658	25,607	32,473	26,658	32,473	29,030
Total capital employed	82,807	82,206	83,098	82,807	83,098	83,062

Notes:

• 1. The financial results for the quarter and nine months ended December 31, 2025 were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on February 11, 2026, and have been reviewed by the statutory auditors of the Company.
• 1. The financial results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards ("Ind AS") notified under the Companies (Indian Accounting Standards) Rule, 2015, as amended from time to time, specified under section 133 of the Companies Act, 2013.
• 1. The consolidated financial results of the Company have been prepared by consolidating the reviewed financial results of the Company and its material subsidiary for the respective periods, with the management approved financial results of other wholly owned subsidiaries ("WOS") and the Enterprises over which the Company exercises control (the Company, these subsidiaries and the enterprises hereinafter collectively referred to as "the Group"):
• (i) Indian WOS: Panacea Biotec Pharma Limited ("PBPL") (material subsidiary) and Meyten Realtech Private Limited;
• (ii) Overseas WOS: Panacea Biotec (International) S.A. ("PBS"), Panacea Biotec Germany GmbH (WOS through PBS) and Panacea Biotec Inc. (WOS through PBPL); and
• (iii) Enterprises over which the Company exercises control*: PanEra Biotec Private Limited and Adveta Power Private Limited. *considered as a subsidiary for the purpose of consolidation as per Ind AS 110
• 1. For the nine months ended December 31, 2025, the Company has incurred loss (before tax and exceptional items) of t3,924 Lakh (nine months ended December 31, 2024: loss of t403 Lakh) and the Group has incurred a loss (before tax and exceptional items) of t2,291 Lakh (nine months ended December 31, 2024: loss of n,619 Lakh). The surplus funds remaining with the Group out of the sales of pharmaceutical formulations brands in India and Nepal in March 2022 have helped in strengthening the working capital position, setting up new facilities for enhancement of capacities for manufacturing of vaccines drug substance, scaling up its nutrition and pharmaceutical formulations business and pursuing other business opportunities. The Company has already received higher long-term business orders for vaccines from key institutional customers. Based on these measures and continuous efforts to improve the business performance, the management has prepared the financial results on a going concern basis.
• 1. During the nine months ended December 31, 2025, the Group has recognised an exceptional income of tl,679 Lakh under the "Exceptional Item" in the consolidated statement of profit and loss, which includes:
• (i) revenue of t858 Lakh (nine months ended December 31, 2024: Nil), pursuant to the settlement agreement dated July 9, 2025 executed with Apotex Inc., USA ("Apotex") to settle the ongoing dispute between Apotex and the Company & PBPL; and

• (ii) revenue of t82 l Lakh (nine months ended December 31, 2024: t828 lakh), out of the remaining deferred consideration of t2, 111 Lakh as at March 31, 2025, from sale of domestic pharmaceutical brands of PBPL. The balance deferred consideration of tl,290 Lakh (December 30, 2024: t4,882 Lakh) would be recognised in subsequent quarters/ years and is shown as Contract Liability in the consolidated financial statements of the Group.

• 1. On November 21, 2025, the Government oflndia notified provisions of the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 ('Labour Codes') which consolidate twenty-nine existing labour laws into a unified framework governing employee benefit during employment and post-employment. The Labour Codes, amongst other things, introduces changes, including a uniform definition of wages. The incremental impact of these changes, assessed by the Company/ Group, on the basis of the information available, consistent with the guidance provided by the lnstitute of Chartered Accountants of India, has been accounted for accordingly. Once Central / State Rules are notified by the Government on all aspects of the Codes, the Company/ Group will evaluate additional impact, if any, on the measurement of employee benefits and would provide appropriate accounting effect.
• 1. The Company publishes standalone financial results along with consolidated financial results. In accordance with Ind AS 108 'Operating Segments', the management has disclosed the segment information in the consolidated financial results of the Group for the nine months ended December 31, 2025.
• 1. The necessary certificate / report in respect of the above results in terms of the requirements of Regulation 33 of the SEBI (Listing Obligations and Other Disclosure Requirements) Regulations, 2015, has been placed before the Board of Directors.
• 1. Previous period amounts have been regrouped/ reclassified in compliance with Ind-AS to make them comparable with those of current period/ year.
• I 0. '0' under "~ in Lakh" represents an amount less than ~50,000. Further, the figures shown in the tables may not exactly add up due to rounding off.
• 1. The above results are also available on the Company's website https://www.panaceabiotec.com

For and on behalf of the Board of Directors of Panacea Biotec Limited

~ Dr. RaJesh Jain

Chairman and Managing Director

Place: New Delhi Date: February 11, 2026

Panacea Biotec Limited Regd. Office: Ambala-Chandigarh Highway, Lalru-140501, Punjab CJN: L33 l 17PB 1984PLC022350, Ph. No. +91-11-41679000, Fax: +91-11-41679070 Website: https://www.panaceabiotec.com, E-mail: corporate@panaceabiotec.com

Suresh Surana & Associates LLP

Chartered Accountants

Suresh Surana & Associates LLP

2nd Floor, Tower-B 8-37 Sector-1 Noida (NCR) - 201 301. (U.P), India

T +91 (120) 626 5555

newdelhi@ss-associates.com www.ss-associates.com LLP Identity No. AAB-7509

I

-

Independent Auditor's Limited Review Report on Unaudited Standalone Financial Results for the quarter and nine months ended December 31, 2025, of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations")

To

The Board of Directors, Panacea Biotec Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Panacea Biotec Limited (the 'Company') for the quarter and nine months ended December 31, 2025 (hereinafter referred to as "Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("I ND AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

,,.

Suresh Surana & Associates LLP Chartered Accountants

1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying statement prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards specified under section 133 of Companies Act, 2013 and other accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Suresh Surana & Associates LLP Chartered Accountants/ ICAI Reg. No. 121750W/ Kapil Kedar Partner Membership No. 094902-- UDIN: 260~'-\<:\02.MSEOUA149-r

Dated: February 11 , 2026 Place: New Delhi

Suresh Surana & Associates LLP

Chartered Accountants

Suresh Surana & Associates LLP

2nd Floor, Tower-B B-37 Sector-1 Noida (NCR) - 201 301. (U.P), India

T +91 (120) 626 5555

newdelhi@ss-associates.com www.ss-associates.com LLP Identity No. AAB-7509

Independent Auditor's Limited Review Report on Unaudited Consolidated Financial Results for the quarter and nine months ended on December 31, 2025, of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations")

To The Board of Directors, Panacea Biotec Limited

• 1. We have reviewed the accompanying statement of unaudited consolidated financial results of Panacea Biotec Limited ("the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group'), (refer Annexure 1 for the list of subsidiaries included in the Statement) for the quarter and nine months ended December 31, 2025 (hereinafter referred to as "Statement"), being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. The Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("IND AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, to the extent applicable.

-

Head Office: 8th Floor, Bakhtawar, 229, Nariman Point Mumbai - 400 021. India. T +91 (22) 6121 4444 emails@ss-associates.com Offices: Mumbai, Chennai, Kolkata, Bengaluru, Navi Mumbai, Surat, Hyderabad, Ahmedabad, Pune, Gandhidham, Jaipur and Vijayanagar.

1. Based on our review conducted and procedure performed as stated above and based on the consideration of the review reports of other auditors referred in 'Other Matters' section below, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards specified under section 133 of Companies Act, 2013 and other accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Other Matter

1. The unaudited consolidated financial results include the interim financial results of 6 subsidiaries (including 2 step down subsidiaries) which have not been reviewed by their auditors, whose interim financial results reflect total revenue of Rs. 134 Lakh and Rs. 1,081 Lakh, total net loss after tax and total comprehensive loss of (Rs. 277 Lakh) and (Rs. 524 Lakh), for the quarter and nine months ended December 31, 2025 respectively, as considered in the unaudited consolidated financial results. These interim financial results have not been reviewed by their auditors and have been furnished to us by the management by applying consistent accounting policies. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

For Suresh Surana & Associates LLP Chartered Accountants I ICAI Reg. No. 121750W/W1 Kapil Kedar Partner Membership No. 094902

UDIN: 260'!Llqo.z._M MN(;- XA5931--

Dated: February 11, 2026

Place: New Delhi

Independent Auditor's Limited Review Report on Unaudited Consolidated Financial Results for the quarter and nine months ended on December 31, 2025, of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations")

Annexure 1

List of entities included in the Statement

Name of the Holding Company

1) Panacea Biotec Limited

Name of subsidiaries and step-down subsidiaries

• 1) Panacea Biotec Pharma Limited
• 2) Panacea Biotec (International) SA
• 3) Panacea Biotec Germany GmBH (Wholly owned Subsidiary of Panacea Biotec (International) SA)
• 4) PanEra Biotec Private Limited*
• 5) Meyten Realtech Private Limited
• 6) Adveta Power Private Limited*
• 7) Panacea Biotec Inc (Wholly owned subsidiary of Panacea Biotec Pharma Limited) (incorporated on April 09, 2024)

*Enterprises over which the Company exercises control - These entities are considered as a subsidiary for the purpose of consolidation as per Ind AS 110.