Laurus Labs has announced the voluntary closure of its step-down wholly owned subsidiary, Laurus Generics GmbH, based in Germany. The decision was approved by the Board of Directors during their meeting on April 30, 2026.
Laurus Generics GmbH, which is not considered a material subsidiary of Laurus Labs, reported no turnover for the financial year ending March 31, 2026. The net worth of the subsidiary was recorded at a negative €10,53,091. The closure is not expected to have any material impact on Laurus Labs’ financials or operations, as stated by the company.
The closure process will proceed in accordance with the applicable laws in Germany and will be subject to necessary regulatory approvals. Laurus Labs has assured that it will inform the stock exchanges upon the completion of the closure process.
The Board meeting where this decision was made commenced at 2:00 p.m. and concluded at 3:00 p.m.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).