Dear Stakeholders,
As Chairman of the Board, it is my pleasure to update you on key priorities and
activities of the Board during the year carried out as part of our fiduciary
responsibilities towards you, our stakeholders.
Your Board met 5 times during the last year with 100% attendance. All Board members
actively participated in the Board agenda and deliberations.
Key insights from Board driven activities during the year :
• Strengthening Board size and diversity:
• Appointment of additional Independent Directors
• Appointment of Non-Executive
Non-Independent Director having 35 years of pharmaceutical experience
• Demerger of USA business to enhance shareholder value through better capital
allocation and focus on high return businesses
• Formal earmarking of key strategic responsibilities to executives
• Support communities through our ongoing CSR activities
Corporate Governance
As global economies continue to grapple with challenges and uncertainties of the
Covid-19 pandemic, the rules of good corporate governance hold even more importance than
ever before. Effectiveness of corporate governance systems and policies will define how
businesses survive the impact of the pandemic and pave the way to ensure financial
viability and seamless continuity of operations.
The Board continues to take various measures from time to time to endure and further
enhance governance practices. Recently, your company's Board has laid the foundation to
accelerate integration of environmental, social and governance (ESG) factors into decision
making in order to address wider societal issues and the need for strong corporate
governance. The leadership at Emcure has been proactive in adapting to improved ways of
working through limited
physical interactions and minimal loss of productivity by embracing technology and
digital solutions.
I take this opportunity to highlight to you some of our key governance indicators
symbolizing our continued commitment towards better governance:
a. Separation in role of Board Chairman and Managing Director
b. Independent Director as Board Chairman
c. Adequate representation of Independent Directors in the Board
d. Board diversity - gender, age and skillset diversity
e. More than 75% Independent Directors representation in Audit Committee and Nomination
& Remuneration Committee
f. Separate annual meeting of Independent Directors
g. Emphasis on governance through voluntary filing of corporate governance reports for
holding and subsidiary companies
As Chairman of the Board, I want to emphasize about the Board's collective commitment
towards highest standards of governance, transparency and fairness in dealing with all
stakeholders.
We value your feedback and encourage you to share any suggestions you may have during
the upcoming annual general meeting.
On behalf of Emcure's Board of Directors, I take this opportunity to thank you for your
continued faith in the company and the Board. We are dedicated to work to represent the
interest of all stakeholders.
| Sincerely, |
| Berjis Desai |
| Chairman |