Dr. Reddy's Laboratories Approves Key Appointments at AGM; Deloitte Haskins & Sells Named Statutory Auditor
At its 42nd Annual General Meeting (AGM), Dr. Reddy's Laboratories Limited confirmed significant appointments related to its Board structure and statutory audit, approving the re-appointment of an experienced director and the appointment of another senior leader to the board. The company also approved M/s Deloitte Haskins & Sells, LLP as its Statutory Auditor for a five-year term.The AGM resolutions ensured continuous governance by approving key personnel changes: Dr. K P Krishnan was re-appointed as an Independent Director, and Mr. Srikanth Velamakanni was appointed to the board. Furthermore, M/s Deloitte Haskins & Sells, LLP, Chartered Accountants were appointed to fulfill the role of Statutory Auditors for the company.
Board Appointments Detailed
The members at the AGM approved both appointments with the requisite majority. Dr. K P Krishnan's re-appointment covers a second term as an Independent Director, while Mr. Srikanth Velamakanni joins the board in his new capacity. Both directors were confirmed to be unrelated to any of the company's Directors or Key Managerial Personnel and meet the applicable criteria for independent directorship.The details of the directorial appointments are provided below:
| Particulars | Dr. K P Krishnan (Re-appointment) | Mr. Srikanth Velamakanni (Appointment) |
|---|---|---|
| Role | Independent Director | Independent Director |
| Term | Five consecutive years, from January 7, 2027 to January 6, 2032 | Five consecutive years, effective from July 1, 2026 to June 30, 2031 |
| Relationship Disclosure | Not related to any Directors of the Company | Not related to any Directors of the Company |
Statutory Auditor Appointment
M/s Deloitte Haskins & Sells, LLP, Chartered Accountants were appointed as the Statutory Auditors for Dr. Reddy's Laboratories Limited. The appointment covers a term of five consecutive years, commencing from the conclusion of the 42nd AGM and continuing until the conclusion of the 47th AGM.Details concerning the newly appointed audit firm are summarized in the table below:
| Parameter | Details |
|---|---|
| Appointee | M/s Deloitte Haskins & Sells, LLP, Chartered Accountants (Firm Registration No. 117366W/W-100018) |
| Term of Appointment | Five consecutive years, starting from the conclusion of the 42nd AGM until the 47th AGM. |
| Profile Note | DHS LLP was converted to a Limited Liability Partnership (LLP) on November 20, 2013, and is registered with the Institute of Chartered Accountants of India. |
Profiles of Key Appointees
Dr. K P Krishnan brings extensive experience from public policy and economic governance. He is a former IAS officer and has accumulated 37 years of service across various government bodies in India and internationally. His professional background includes serving as Secretary, Ministry of Skill Development and Entrepreneurship, and holding leadership roles within the Ministries of Finance and Rural Development. Academically, he has taught at institutions such as IIM Bangalore, ISB, and Ashoka University, and holds a Ph.D. in Economics from IIM Bangalore. Dr. Krishnan serves on multiple boards, including Tata Consumer Products and Razorpay.Mr. Srikanth Velamakanni is recognized as a global advocate of artificial intelligence and a leading technology figure in India. He is the Co-Founder and Group Chief Executive of Fractal, which was India's first publicly listed pure-play AI company. Mr. Velamakanni also serves as the Chairperson of Nasscom and a Founder-Trustee of Plaksha University.
The selection of M/s Deloitte Haskins & Sells, LLP, provides audit expertise to the organization for the next five years.
DRREDDY Stock Price Movement
Shares of Dr. Reddy's Laboratories Limited tumbled today, shedding 1.10% to close at ₹1166.30, plunging to extreme lows for the company. The stock saw significant selling pressure amid trading volumes that reached approximately 6.7 million shares in a deeply bearish session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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