Advik Laboratories to Retrench Workers Amidst Business Diversification

Advik Laboratories Ltd, now MPS Pharmaa Limited, has approved the retrenchment of certain workers at its manufacturing facility in Haryana. This decision comes as the company plans to commence new business operations in the manufacturing of Ayurvedic, Unani and Homeopathic medicines, drugs and Nutraceutical products. The retrenchment is part of workforce rationalization aligned with the company's future business plans and operational requirements. The company is ensuring compliance with all applicable laws during this process.