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Eris Lifesciences Appoints Akhil Awasthi to Board in Ahmedabad

Eris Lifesciences appoints Akhil Awasthi as independent director

Eris Lifesciences Limited is set to add private equity professional Akhil Awasthi to its Board of Directors as an Additional Director in the non-executive independent category.

The appointment will take effect from September 26, 2026, for a five-year term, subject to approval by the company’s members. The Board approved the appointment following a recommendation from its Nomination and Remuneration Committee. The company disclosed the appointment to the stock exchanges on September 21.

Awasthi brings more than three decades of experience in financial services, including private equity, investment management, healthcare and life sciences. His earlier roles include Founding Managing Partner of Tata Capital Growth Fund and Partner at Baring Private Equity Partners (India).

For Eris, the appointment comes at a time when the Ahmedabad-based pharmaceutical company is expanding its presence in areas such as diabetes care and injectable medicines while also dealing with a larger and more complex business following recent investments and acquisitions.

Eris Lifesciences was incorporated in Ahmedabad in January 2007. It became a public company in 2017 and was listed on the BSE and NSE that year. Its original business was built around branded medicines for chronic and acute conditions, with areas including cardiovascular disease, diabetes, gastroenterology and other lifestyle-related disorders.

The company has since expanded its business beyond its earlier focus. Its current group structure includes Eris Therapeutics, Eris Healthcare and Eris M.J. Biopharm, among other businesses. Eris says its group now has activities covering areas such as diabetes, dermatology and other specialist therapies.

The company’s latest financial figures also show the scale of the business that the new independent director will join. NSE filings show that Eris reported audited FY2025-26 results, with the financial year ending March 31, 2026. The company operates as a single pharmaceutical segment in its standalone reporting.

Consolidated figures reported for FY2025-26 show operating revenue of about ₹3,129 crore, up 8% from the previous year. Consolidated profit after tax was about ₹648 crore, a rise of 73%. The profit figure included a one-time deferred tax benefit, making the year-on-year increase larger than the change in underlying operations alone.

Eris has also been moving further into diabetes treatment. Its insulin business increased its market share from 12% to 16% during FY2025-26, according to company results reported in May. The company has also entered the injectable semaglutide market after the loss of exclusivity for the medicine in India in March 2026.

These developments are relevant to the company’s Board because decisions around acquisitions, new medicines, manufacturing capacity and capital allocation require experience beyond traditional pharmaceutical sales.

Awasthi’s professional record is closely linked to this type of work. Tata Capital Growth Fund describes him as its Managing Partner and says he joined the fund in 2009. Before that, he spent 16 years in equity investment, including 12 years in private equity at Baring Private Equity.

The Global Private Capital Association says Awasthi was a founding Managing Partner of Tata Capital Growth Fund and had raised or managed about $1 billion across four private equity funds. It also records his work across 24 transactions and eight exits over two decades. His investment work covered sectors including financial services, technology, consumer businesses, pharmaceuticals and manufacturing.

His career in healthcare investment also predates his move to Tata Capital. In 2009, FinanceAsia reported that Awasthi had joined Tata Capital from Baring Private Equity Partners, where he had been a partner and founding member. At Baring, he was involved in the firm’s healthcare practice, covering pharmaceuticals, healthcare outsourcing and biotechnology.

Awasthi has also held board-level roles in companies in sectors including healthcare and financial services. Earlier professional profiles have listed companies such as Star Health & Allied Insurance and other portfolio businesses among the organisations with which he has been associated.

His educational background includes an MBA from the University of Delhi and an Advanced Management Program at Harvard Business School, according to professional profiles published by Tata Capital Growth Fund and the Global Private Capital Association.

Commenting on the appointment, Eris Chairman and Managing Director Amit Bakshi said:

“We are pleased to welcome Akhil Awasthi to the Board of Eris Lifesciences. His extensive experience across private equity, healthcare and lifesciences, coupled with his understanding of business transformation and corporate governance, will bring valuable perspectives to our Board. As Eris continues to build on its growth journey, we look forward to benefiting from his strategic insights and experience in creating long-term value.”

The appointment is also scheduled close to Eris Lifesciences‘ 20th Annual General Meeting, which is due to be held on September 25, 2026, through video conferencing. The company’s annual report for FY2025-26 was filed with the stock exchanges on September 2.

For shareholders, the immediate change is a Board appointment rather than an operational change to the company’s medicines or manufacturing activities. Awasthi’s role will be non-executive and independent, meaning his responsibilities will centre on Board-level oversight rather than day-to-day management.

The five-year appointment, if approved by shareholders, will give Eris access to Awasthi’s experience in private equity, healthcare investments and corporate boards at a period when the company is expanding its diabetes and specialist pharmaceutical businesses. The appointment therefore adds an investment and governance background to a Board overseeing a company that has grown considerably since its Ahmedabad beginnings in 2007.