Investors

Purpose

The Policy for determining material subsidiary companies has been framed in accordance with the provisions of Regulation 16 read with Regulation 24 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”)

This Policy aims to determine Material Subsidiary(ies) of the Company and is titled as the “Policy for Determining Material Subsidiaries”.

Criteria for Determining “Material Subsidiary”

A subsidiary of the Company shall be considered ‘Material’ if the turnover or net worth of the subsidiary exceeds 10% of the consolidated turnover or net worth respectively, of the Company and its subsidiaries in the immediately preceding accounting year.

At least one Independent Director on the Board of Directors of the Company shall be a director on the Board of Directors of an unlisted material Subsidiary Company, incorporated in India or not. For the purpose of this clause, “Material Subsidiary” shall mean a Subsidiary, whose turnover or net worth exceeds 20% of the consolidated turnover or net worth respectively, of the Company and its Subsidiaries in the immediately preceding accounting year.

Disclosure

This Policy shall be disclosed on the Company’s website www.jubilantpharmova.com

Review / Amendment

The Board may amend, abrogate, modify or revise any or all clauses of this Policy in accordance with the applicable provisions of the Listing Regulations and amendment(s) thereto notified by the Securities and Exchange Board of India and/or Stock Exchanges, from time to time. However, amendments in the Listing Regulations shall be binding even if not incorporated in this Policy.

JPM - Policy For Determining Material Subsidiaries