The re-appointment is based on the recommendation of the Nomination and Remuneration Committee, subject to the approval of the shareholders.

Dr. Mody, is the son of founder promoter, Late Amrut Mody. He completed his post-graduation from the University of Mumbai followed by a Ph.D. in organic chemistry. He is a graduate alumnus of Harvard Business School and the former president of the Indian Pharmaceutical Alliance, the industry body representing research-based national pharmaceutical companies. He was appointed as the director of the company in the year 1974.

He has a varied experience in the industry to which the company belongs and has been at the helm of the affairs of the company for over forty years and during this period the company has achieved growth and has spread its footprints in the international markets to more than eighty countries in US, Europe, Ireland, South Africa, Brazil, etc.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in several markets across the world.

The company reported a consolidated net loss of Rs 44.27 crore in Q4 FY23 as against net profit of Rs 71.47 crore in Q4 FY22. Net sales rose 8.78% YoY to Rs 402.10 crore in the quarter ended 31 March 2023.

Shares of Unichem Laboratories were down 0.09% to Rs 370.20 on the BSE.