Jubilant Pharmova Limited announced that its wholly-owned step-down subsidiary, Jubilant Generics Limited, has received a rectification order from the Income Tax Department. The order, dated June 23, 2026, concerns the income assessed for Assessment Year 2023-24 and provides a significant reduction in the tax adjustments previously demanded.

Pursuant to the rectification application filed by Jubilant Generics Limited, the tax adjustments have been reduced from Rs. 107.89 crs to Rs. 42.41 crs. This development restores tax losses amounting to Rs. 65.48 crs for the subsidiary. The relief was granted by the relevant Transfer Pricing Officer following the submission of the application.

The company disclosed that the order was received on June 23, 2026, at 10:17 PM IST. Despite this relief, Jubilant Pharmova clarified that the appeal on merit grounds regarding the matter is being pursued before the Commissioner of Income Tax (Appeals) separately.

The following table outlines the key financial changes resulting from the rectification order:

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information was submitted by Naresh Kapoor, Company Secretary of Jubilant Pharmova Limited.

Jubilant Pharmova Limited announced that the United States Food and Drug Administration (USFDA) concluded an inspection at its subsidiary Jubilant HollisterStier LLC's contract manufacturing facility in Spokane, WA, U.S.A on June 17, 2026. The inspection resulted in eight observations, with none related to sterility assurance concerns, a critical metric for sterile injectable manufacturing operations.

Jubilant HollisterStier LLC intends to respond to the inspection observations within 15 business days. The company stated it is committed to addressing the observations comprehensively. The disclosure was made to the exchanges in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Inspection Details

The following table outlines the key details of the regulatory inspection:

Jubilant HollisterStier LLC is a subsidiary of Jubilant Pharma Holding Inc., which is under Jubilant Pharma Limited, Singapore. Jubilant Pharma Limited is a wholly owned subsidiary of Jubilant Pharmova Limited. The Spokane facility specialises in contract manufacturing for sterile injectables and ophthalmics.