Reply to Clarification- Financial results

Vivimed Labs Ltd. has announced a board meeting to discuss the audited financial results for the quarter and year ended 31 March 2023. The company reported a significant liquidity crisis, resulting in defaults on payments to banks totaling ₹3,762.80 million.

This situation was exacerbated by post-COVID-19 operational challenges.

Additionally, the company has impaired plant and machinery worth ₹892.80 million and written down inventories by ₹809.3 million due to slow production and outdated stock.

These developments may contribute to heightened investor concern regarding financial stability, although ongoing negotiations with lenders could signal potential recovery strategies.