Dr. Reddy's Laboratories Limited at its board meeting held on May 7, 2024, announced Mr. Parag Agarwal will retire as the Chief Financial Officer of the Company effective from close of working hours on July 31, 2024, consequent to his decision to expand his involvement in philanthropy for the cause of making a meaningful difference to the lives of the most vulnerable segment of the society ­ the voiceless animals. He will also cease to be a member of the Management Council and Senior Management Personnel of the Company, effective from the close of working hours on July 31, 2024. He will continue to be available with the Company till August 31, 2024, and Mr. M V Narasimham, currently Dy.

Chief Financial Officer of the Company is being elevated to the role of the Chief Financial Officer of the Company with effect from August 1, 2024. Presently, he is also a Member of the Management Council and Senior Management Personnel of the Company. Mr. M V Narasimham serves as Deputy Chief Financial Officer with responsibilities of global commercial business finance and global taxation.

He is a qualified Chartered Accountant with more than 30 years of experience across several finance functions. Mr. Narasimham joined the Company in the year 2000 and has held various positions of increasing responsibility across finance in the Company. He was leading the finance operations of the company's business segments PSAI and Global Generics during the period 2006 to 2012.

Since 2012, he has been heading the Corporate Finance (Direct and Indirect Taxation, Consolidation and Corporate Analytics) along with Global Business finance involving both India and overseas operations.