Panacea Biotec receives 4 adverse labor awards from Tribunal

Panacea Biotec Ltd has received four awards from the Industrial Tribunal, S.A.S. Nagar, Mohali, dated March 19, 2026. These awards mandate setting aside the transfer of 23 workmen with full back wages from the date of transfer, awarding reasonable wage revision for workmen, and reinstating workers (who have not settled) with 50% back wages from their termination date. The awards are applicable from 2014 onwards. Panacea Biotec believes these awards are challengeable and plans to file appeals before the Hon’ble High Court of Punjab and Haryana. The company does not foresee any material adverse impact on its financial, operational, or other activities.