Ortin Laboratories Limited announced that Drugs Control Administration, Government of Telangana vide its Order dated 03 July 2023 received by the Company on 11 July 2023 has cancelled the Company's Manufacturing License effective from July 11, 2023 forwant of upgradation of manufacturing facilities, infrastructure and recruiting expert technical team as per the provisions of Schedule-M of Drugs and Cosmetics Act, 1940 & rules made there under. Withdrawal/cancellation or suspension of licence/approval by the regulatory or licensing authority, with reasons for such action, estimated impact (monetary or otherwise) on the listed entity and penalty, if any: Could not upgrade the manufacturing facilities, infrastructure and expert technical team as per the provisions of Schedule-M of Drugs and Cosmetics Act. 1940.

Production of medicines is stopped and as a result there will be monetary impact to the tune of 75% of the turnover which is approximately INR 60 million. There is no other penalty involved or imposed on the company.