Alivus Life Sciences Limited has informed stock exchanges about receiving a significant tax demand from the Income Tax Department. The pharmaceutical company disclosed the development under Regulation 30 of SEBI Listing Regulations on March 21, 2026.

Tax Assessment Details

The Income Tax Department's Faceless Assessment Unit issued an order dated March 20, 2026, under Section 143(1) read with Section 144B of the Income Tax Act, 1961. The assessment pertains to Assessment Year 2023-24, covering Financial Year 2022-23.

Company's Response and Impact Assessment

Alivus Life Sciences has clarified that the tax order will not materially impact its financial position or operational activities. The company emphasized that this is a regular assessment process and the order is currently appealable before the appellate authority.

The management stated it will make an assessment to exercise the right to appeal against the Income Tax Department's order. This indicates the company may challenge the disallowances that led to the tax demand.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30(2) of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, read with clause 20 of Para A of Part A of Schedule III. Company Secretary and Compliance Officer Rudalf Corriea signed the regulatory filing.

The company, formerly known as Glenmark Life Sciences Limited, operates from its corporate office in Mumbai's Technopolis Knowledge Park and maintains its registered office in Solapur, Maharashtra.

Alivus Life Sciences Limited has issued an update regarding the recovery timeline following a fire incident at its Dahej manufacturing facility. The company provided detailed information about the extent of damage and expected resumption of operations under Regulation 30 of SEBI Listing Regulations.

Incident Assessment and Impact

The fire incident occurred on February 14, 2026, at the company's manufacturing facility located in Dahej, Bharuch district, Gujarat. The incident was confined to one of seven production blocks at the facility and affected only a portion of the intermediate manufacturing facilities within that block.

Production Resumption Timeline

Alivus Life Sciences has provided a clear timeline for resuming operations at the affected production block. The company expects to restart different manufacturing processes in phases based on the assessment of damage and recovery requirements.

The temporary cessation of manufacturing operations will result in a few delayed shipments, though the company has not specified the exact impact on delivery schedules or financial implications.

Safety Measures and Protocols

The company emphasized its commitment to safety standards across all operations. Alivus Life Sciences stated that safety is of paramount importance and confirmed that it follows stringent safety standards and protocols across its operations. The company continues to implement necessary precautionary measures to prevent similar incidents in the future.

Facility Operations Status

Despite the incident in one production block, the majority of the Dahej facility remains operational. All other six production blocks at the site are unaffected and continue normal operations, ensuring minimal disruption to the company's overall manufacturing capacity. The Active Pharmaceutical Ingredient manufacturing facilities within the affected block also remained undamaged, limiting the scope of production interruption.