Novartis India Limited has declared the combined voting results for its 78th Annual General Meeting held on September 24, 2026. All 16 resolutions, including the adoption of the Employee Stock Option Scheme 2026 and the regularization of seven director appointments, were passed with requisite majority.

The meeting, conducted via Video Conferencing, saw the approval of a change in the company's name to Evonile Pharma Limited. The Scrutinizer’s report, submitted by S. N. Ananthasubramanian & Co., confirmed that all Ordinary and Special Resolutions received the necessary votes from both remote e-voting participants and those voting during the meeting.

Voting outcomes on key resolutions

The ESOP 2026 scheme received strong support, with 99.05% of total votes cast in favor. Public institutions voted largely in favor, while a small segment of public non-institutional shareholders dissented. Similarly, the appointment of Dr. Vikas Gupta as Managing Director and CEO was ratified with 99.71% support.

The resolution to change the company name from Novartis India Limited to Evonile Pharma Limited passed with 99.99% of votes in favor, indicating overwhelming shareholder consent for the rebranding initiative.

Director appointments regularized

The following directors had their appointments as Additional Directors regularized through e-voting:

Governance and auditor status

The Chairperson confirmed that there were no qualifications, adverse remarks, observations, or comments in the Independent Auditor's Report for the financial year ended March 31, 2026. This indicates a clean audit opinion regarding the company's financial statements for FY26.

Ms. Chandni Maru, Company Secretary and Compliance Officer, briefed members on participation protocols. Shareholders were informed that the combined results of e-voting, including remote voting and voting during the AGM, along with the Scrutinizer’s report, would be declared within prescribed timelines and placed on the company website.

What the numbers show

The voting data reveals a distinct pattern in shareholder sentiment across different agenda items. While routine administrative resolutions such as director appointments and auditor remuneration approvals garnered near-unanimous support (over 99.99% in favor), the ESOP 2026 scheme faced slightly higher dissent at 0.95%. Notably, public institutional shareholders voted against the ESOP scheme with a dissent rate of 27.76%, significantly higher than the negligible dissent observed in other categories. This suggests that while retail and promoter groups broadly supported the employee incentive plan, institutional investors expressed reservations, possibly regarding dilution or valuation metrics not detailed in the summary.

A federal judge in Manhattan ruled in favor of Novartis on Wednesday, rejecting allegations that the company misused one of its patents to maintain exclusivity on its blockbuster heart-failure drug, Entresto.

The ruling addresses claims regarding the strategic use of intellectual property rights. The decision supports the pharmaceutical giant's position on its patent practices concerning the widely prescribed medication.