Registered & Corporate Office : Plot No. 72. H. No. 8-2-334/3 & 4. Road No.5. Opp. SBI Executive Enclave. Banjara Hills. Hyderabad - 500 034. Telangana. INDIA. Tel : +91-40-2525 9999. Fax: +91-40-25259889 CIN : L24239TG1987PLC008066 Email: [email protected], www.smspharma.com

Date: 24th May, 2023

To The Manager, The Manager, Corporate Filings Department, BSE Limit ed, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001.

Listing Compliance Department, National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/ l, G Block, Ba ndra-Kurla Complex, Bandra (E), Mumbai - 400 051.

Security Code: 532815

Symbol: SMSPHARMA

Dear Sir/Madam,

Subject: Outcome of Board Meeting and Financial Results:

With reference to the cited subject maUer, we would like to inform you that the Board of Directors of the Company at their meeting held today i.e., 24th May, 2023, have inter- alia, transacted the following item(s) of the Agenda :

• 1. Audited Financial Results (Standalone and Consolidated) along with the Statement of Assets & Liabilities, for th e fourth quarter and year ended 31st March,2023.
• 1. Recommended the Dividend of Re.0.30 Paise (30%) per equity share of face value of Rs.l/-each for the financial year 2022-23, subject to approval of the members at the ensuing Annual General Meeting (AGM). The AGM date and book closure / record date for the purpose of the payment of dividend will be informed in due course.
• 1. Re-appointment of Mr. Shravan Kudaravalli (DIN: 06905851), as an Independent Director of the Company for a second term of 5 years from 26th May, 2023 upto 25th May, 2028 subject to the approval of the members through postal ballot. The details of the postal ballot will be informed separately.

In this regards please find the enclosed copies of:

• i. Statement of Audited Standalone and Consolidated Financial Results for the fourth quarter and year ended 31st March, 2023 and Auditors' Report thereon;
• ii. Declaration regard ing Audit Reports with unmodified opin ion
• iii. Brief Profile of Mr. Shravan Kudaravalli.

The meeting commenced at 11.00 A.M and concluded at 1.05 P.M

Please t ake the above intimation on your records.

Thanking you Yours faithfully

SMS PHARMACEUTICALS LIMITED (CIN : L24239TG1987PLCOO8066)

Regd. Office: Plot No.72, H.No.8-2·334/3&4, Road No.5, Opp.5BI Executive Enclave, Banjara Hills, Hyderabad·500 034, Telangana, Ind ia Tel: +91-40-3535 9999, Fax :+91-40-2525 9889 ; Email : [email protected]

Standalone Statement of Audited Financia l Results for t he Quarter and Year Ended 31st Ma rch, 2023

Standalone Audited Statement of Assets and Liabilities as at 31st March, 2023

SMS Pharmaceuticals Limited

Standalone Statement of Cash Flow for the Year Ended 31st March, 2023

(All amounts in Indian Rupees in Lakhs, unless otherwise stated)

Notes:

• 1 The above standalone financial results have been reviewed by the Audit Committee on May 23,2023 and has been approved by the Board of Directors at its meet ing held on May 24,2023.
• 2 These standalone financial results of the Company have been prepared in accordance with the Indian Accounting Standards ("Ind AS") prescribed under section 133 of the Companies Act,2013 ("the Act") read with relevant rules issued thereunder and other accounting prinCiples generally accepted in India and guidelines issued by the Securities and Exchange Board of India (SEBI).
• 3 The Company is engaged in the manufacturing of Active Pharmaceutical Ingredients and their intermed iat es and the same constitutes a single reportable business segment as per Ind AS108.
• 4 During the reporting quarter the company's margins have improved considerably as compared to past few quarters of this year. However, margin for the financial yea r 2022-23 was impacted due to inputs cost pressures and market volatility during t he period.The company is continuously focusing on R&D, process improvements and augmentation of manufacturing capabilities to increase t he revenues as well as margins.
• 5 The figures for the current quarter and quarter ended March 31, 2022 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2023 and March 31, 2022, respectively and published year to date figures up to third quarter ended December 31,2022 and December 31, 2021 respectively. The figures have been regrouped/reclassified as necessary.

Place: Hyderabad Date: 24.05.2023

For SMS Pharmaceuticals Limited

LA

Ramesh Babu Potluri Chairman and Managing Director

SURYANARAYANA & SURESH Chartered Accountants

Flat # C2, Millenium House, # 8-2-601/B, Road No. 10, Near Zaheer Nagar Cross Road, Banjara Hills, Hyderabad - 500 034, () : 040-23386783/23386784 Bl: [email protected]

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SMS PHARMACEUTICALS LIMITED

Opinion

We have (a) audited the accompanying Statement of Standalone Financial Results for the year ended March 31, 2023 and

(b) reviewed the Standalone Financial Results for the quarter ended 31 March 2023 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year (refer 'Other Matter' paragraph below) which were subject to limited review by us, both included in the accompanying "Statement of Standalone Audited Results for the Quarter and Year ended 31 March 2023" ("the Statement" / "Standalone Financial Results") of SMS PHARMACEUTICALS LIMITED ("the Company"), 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) and both included in the Statement.

In our opinion and to the best of our information and according to the explanations given to us, Standalone Financial Results for the year ended March 31, 2023:

a. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

b. gives a true and fair view in conformity with Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34") prescribed under section 133 of the Companies Act 2013 ("the Act") read with relevant rules issued there under and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the three months and year ended March 31,2023.

Flat # C2, Millenium House, # 8-2-601/B, Road No. 10, Near Zaheer Nagar Cross Road, Banjara Hills, Hyderabad - 500 034, ( : 040-233867831 23386784 18: [email protected]

With respect to the Standalone Financial Resu Its for the quarter ended 31 Ma reh 2023, based on our rev iew, noth ing has come to our attention that causes us to believe that the accompanying Statement, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement

Basis for Opinion

We conducted our audit of this Standalone Financial Results in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the independence requirements that are relevant to our audit of the Standalone Financial Results under the provisions of the Act and the Rules there under and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAl's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for the Standalone Financial Results

This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been compiled from the related audited Standalone Financial Statements. The Company's Board of Directors are responsible for the preparation and presentation of the Standalone Financial Results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Company in accordance with Ind AS 34 prescribed under section 133 of the Act, read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and are free from material misstatement, whether due to fraud or error. '"

"~' ,1 I I I

In preparing the Standalone Financial Results, the Board of Directors are responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do 50.

The Board of Directors is also responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities

a) Audit of the Standalone Financial Results for the year ended 31 March 2023

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management.

Flat # C2, Milienium House, # 8-2-601 /8 , Road No. 10, Near Zaheer Nagar Cross Road, 8anjara Hills, Hyderabad - 500 034 , [) : 040-23386783 1 23386784 8j: [email protected]

• Conclude on the appropriateness of the Management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, futu re events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the Company to express an opinion on the Standalone Financial Results.

Materiality is the magnitude of misstatements in the Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and tinUng of the audit and significant audit findings, including any significant deficiencies in internal controls that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Flat # C2, Millenium House, # 8-2-601 /B, Road No. 10, Near Zaheer Nagar Cross Road, Banjara Hills, Hyderabad - 500 034, r : 040-23386783 123386784 B: [email protected]

b) Review of the Standalone Financial Results for quarter ended 31 March 2023

We conducted our review of the Standalone Financial Results for the quarter ended 31 March 2023 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 (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel 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.

Other Matter

The Statement includes the Standalone Financial Results for the quarter ended 31 March 2023 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our opinion on the Statement is not modified in respect of this matter.

Place: Hyderabad Date: 24.05.2023

UDIN: 23227679BGSGVF7133

For Suryanarayana & Suresh., Chartered Accountants Reg \"

V Nagendra Rao Partner M. No. 227679

SMS PHARMACEUTICALS LIMITED (CIN : L24239TG1987PLCOO8066)

Regd. Office: Plot No.72, H.No.8-2-334/3&4, Road No.5, Opp.SBI Executive Enclave, Banjara Hills. Hyderabad-SOO 034, Telangana, India Tel: +91-40-3535 9999, Fax :+91-40-2525 9889 ; Email: [email protected]

Consolidated St atement of Audited Financial Results for t he Quarter and Year Ended 31st March, 2023

Consolidated Audited Statement of Assets and liabilities as at 31st March, 2023

SMS Pharmaceuticals Limited

Consolidated Statement of Cash Flow for the Year Ended 31st March, 2023

(All amounts in Indian Rupees in Lakhs, unless otherwise stated)

Notes:

• 1 The above Consolidated financial results have been reviewed by the Audit Committee on May 23, 2023 and has been approved by the Board of Directors at its meeting held on May 24, 2023.
• 2 These consolidated financial results have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under section 133 of th e Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India and guidelines issued by t he Securities and Exchange Board of India(SEBI).
• 3 VKT Pharma Private Limited is considered as an Associate Company for the consolidation in which the Company holds 36.55% as on March 31, 2023 in their equity. Accordingly, t he results include appropriate share of the results of said Associate. The Company has another Joint venture "Chemo SMS Enterprises SL" in which there were no operations during the reporting period.
• 4 During the reporting quarter the company's margins have improved considerably as compared to past few quarters of this year. However, margin for the financial year 2022-23 was impacted due to inputs cost pressures and market volatility during the period. The company is continuously focusing on R&D, process improvements and augmentation of manufacturing capabilities to increase the revenues as well as margins.
• 5 Consol idated Financial Statements have been prepared by applying Accounting Standard "Ind AS" 27 "Accounting for Investments in Associates in Consolidated Financial Statements" as applicable under the Companies Act,2013 and applicable rules there under.
• 6 The Group is engaged in the manufacturing Active Pharmaceutical Ingredients and their intermediates and the same constitutes a single reportable business segment as per Ind AS108.
• 7 * The figures for the current quarter and quarter ended March 31, 2022 are the balancing figures between the audited figures in respect of t he full financial year ended March 31, 2023 and March 31, 2022, respectively and published year to date figures up to third quarter ended December 31, 2022 and December 31, 2021 respectively.The figures have been regrouped/reclassified as necessary.

For SMS Pharmaceuticals Limited

oS' ~ Ramesh Babu Potluri Chairman and Managing Director

Place: Hyderabad Date: 24.05.2023

Flat # C2, Millenium House, # 8-2-601/B, Road No. 10, Near Zaheer Nagar Cross Road , Banjara Hills, Hyderabad - 500 034, ({) : 040-23386783/23386784 B: [email protected]

INDEPENDENT AUDITOR'S REPORT

TO THE BOARD OF DffiECTORS OF SMS PHARMACEUTICALS LIMITED

Report on the Audit of Consolidated Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of SMS PHARMACEUTICALS LIMITED (hereinafter referred to as the holding Company) and its associate (Holding Company and its associate together referred to as the Group) for the year ended March 31,2023, attached here with, 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).

In our opinion and to the best of our information and according to the explanations given to us, the consolidated financial Results for the year ended March 31, 2023:

(i) includes the share of profit/ (loss) of the following associate entity

VKT Pharma Private Limited

• (ii) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• (iii) gives a true and fair view in conformity with Indian Accounting Standard 34 "Interim Financial Reporting" ("lnd AS 34") prescribed under section 133 of the Companies Act 2013 ("the Act") read with relevant rules issued there under and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Group for the year ended March 31, 2023.

Flat # C2, Millenium House, # 8-2-601/B, Road No. 10, Near Zaheer Nagar Cross Road, Banjara Hills, Hyderabad - 500 034, () : 040-23386783 1 23386784 (8): [email protected]

Basis for Opinion

We conducted our audit of this Consolidated Financial Results in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of Ind ia (" ICAl") together with the independence requirements that are relevant to our audit of the Consolidated Financial Resu Its under the provisions of the Act and the Rules there under and we have fulfilled our other ethical responsibilities in accordance with these requirements and the lCAl's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for the Consolidated Financial Results

These Consolidated financial results have been prepared on the basis of the consolidated annual financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information of the Group including its associates and jointly controlled entities in accordance with the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its associates and jointly controlled entities and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Holding Company, as aforesaid.

Flat # C2, Millenium House, # 8-2-601/B, Road No. 10, Near Zaheer Nagar Cross Road, Banjara Hills, Hyderabad - 500 034, { : 040-23386783 1 23386784 8: [email protected]

In preparing the consolidated financia l results, the respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities are responsible fo r assessing the ability of the Group and its associates and jointly controlled entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entities are responsible for overseeing the financial reporting process of the Group and of its associates and jointly controlled entities.

Auditors Responsibilities for the audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Consolidated Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatf'ment of the Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opi.nion on effectiveness of such controls.

• Eva luate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management.

1 "'J I~ ~~ - ^~

Flat # C2, Millenium House, # 8-2-601/B, Road No. 10, Near Zaheer Nagar Cross Road, Banjara Hills, Hyderabad - 500 034, (() : 040-23386783 1 23386784 8: [email protected]

• Conclude on the appropriateness of the Management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material unceltainty exists re lated to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Consolidated Financial Results, including the disclosures, and whether the Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the Consolidated Financial Results of the Company to express an opinion on the Consolidated Financial Results.

Materiality is the magnitude of misstatements in the Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Consolidated Financial Results may be irifluenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Consoljdated Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal controls that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

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

The consolidated financial results includes the audited financial statements/ financial results of associate namely VKT Pharma Private Limited which have been audited by their auditor whose financial statements / financial results reflect total assets of Rs,19,734.02 lakhs as at 31 March 2023 lOlal revenue of Rs.3,193.4·' total net profit/(loss) after tax of Rs.(2,994.06) lakhs and total comprehensive income of Rs.(2,982.89) lakhs for the year ended 31 March 2023.

Flat # C2, Millenium House, # 8-2-601 /B, Road No. 1 0, Near Zaheer Nagar Cross Road, Banjara Hills, Hyderabad - 500 034, { : 040-23386783 1 23386784 B: [email protected]

The independent auditors' reports on financial statements/ Financial Results of the entity have been furnished to us and our opinion on the consolidated Financial Results, in so far as it relates to the amounts and disclosures included in respect of the entity, is based sole ly on the report of such auditors and the procedures performed by us are as stated in paragraph above,

Our opinion on the consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.

The Statement includes the Consolidated Financial Results for the quarter ended 31 March 2023 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financia l year which were subject to limited review by us. Our opinion on the Statement is not modified in respect of this matter.

Place: Hyderabad Date: 24.05.2023

UDlN: 23227679BGSGYG7287

For Suryanarayana & Suresh., Chartered Accountants Reg. NO.OO6631S ~ ~::\f ; "~ V Nagendra Rao

Partner M. No. 227679 ~(}'" / 0'1 '.{.,I': - x

Regisfered & Corporafe Office: Plot No. 72, H. No. 8-2-334/3 & 4, Road No.5, Opp. SBI Executive Enclave, Baniara Hills, Hyderabad - 500 034, Telangana, INDIA. Tel: +91-40-25259999, Fax: +91-40-25259889 CIN : L24239TG1987PLC008066 Email: [email protected], www.smspharma.com

Date: 24th M ay, 2023

To, Th e Manager, Corporate Fi lings Department, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001

The Manager, List ing Compliance Department, Nat ional Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/l, G Block, Bandra-Kurla Complex, Ba ndra (E), Mumbai - 400 051.

Security Code: 532815

Symbol: SMSPHARMA

Sub: Declaration pursuant to Regulation 33(3)(d) of SEBI (Listing obligations & Disclosure Requirements) Regulations, 2015.

Dear Sir / Madam,

In compliance with the provisions of Regulation 33(3)(d) of SEBI (Listing and Obligations & Disclosure Requirements) Regulations, 2015, we hereby declare that M/s. Suryanarayana & Suresh, Chartered Accountants, Hyderabad (FRN. 0066315), Statutory Auditors of the Company have issued Audit Reports with unmodified opinion on the Audited Financial Results of the Company (Standalone & Consolidated) for the year ended 31st March, 2023.

Kindly take the same on record .

Thanking you

For SMS Pharmaceuticals Limited

Tammineedi Chief Financial Officer

Annexure

Details required under Regulation 30 and other relevant provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015