Novartis India AGM approves ESOP 2026 and regularizes director appointments
- Novartis India Limited approved the Employee Stock Option Scheme 2026 at its 78th AGM held on September 24, 2026
- Appointments of seven directors, including Ramesh Ramadurai and Suchita Sharma, were regularized from Additional to full-term roles
- Dr. Vikas Gupta was approved as Managing Director and Chief Executive Officer, with his remuneration package ratified
- The company received approval for a change of name and alterations to its Memorandum and Articles of Association
- The Independent Auditor's Report for FY26 contained no qualifications or adverse remarks
*this image is generated using AI for illustrative purposes only.
Novartis India Limited concluded its 78th Annual General Meeting on September 24, 2026, approving the Employee Stock Option Scheme 2026 and regularizing the appointments of seven directors. The virtual meeting, held via Video Conferencing, also ratified the appointment of Dr. Vikas Gupta as Managing Director and Chief Executive Officer.
The proceedings were chaired by Ramesh Ramadurai, Chairperson of the Board, with attendance by all Independent Directors, the Managing Director, Non-Executive Directors, and statutory auditors. The meeting commenced at 11:00 am IST and concluded at 12:21 pm IST. Remote e-voting facilities were available from September 21 to September 23, 2026, in compliance with SEBI Listing Regulations.
Key approvals and special business
Shareholders transacted several items of Special Business through e-voting. A significant portion of the agenda involved regularizing the tenure of additional directors appointed during the year. Additionally, the company sought approval for structural changes to its constitutional documents.
Director appointments regularized
The following directors had their appointments as Additional Directors regularized:
| Name | Designation Regularized |
|---|---|
| Ashok Bhatia | Non-Executive Director |
| Kshitij Sheth | Non-Executive Director |
| Jagriti Gupta | Non-Executive Director |
| Ramesh Ramadurai | Independent Director |
| Shashank Sinha | Independent Director |
| Suchita Sharma | Independent Director |
| Vikas Gupta | Director (liable to retire by rotation) |
Other key resolutions
- ESOP 2026: Approval of the new Employee Stock Option Scheme.
- MD & CEO Appointment: Ratification of Dr. Vikas Gupta’s appointment as Managing Director and Chief Executive Officer, along with his remuneration.
- Constitutional Changes: Adoption of altered Memorandum of Association (MoA) and Articles of Association (AoA).
- Name Change: Approval of the change of name of the company and consequential alterations to MoA and AoA.
- Auditor Remuneration: Ratification of remuneration payable to M/s. D. C. Dave & Co., Cost Accountants.
- Director Remuneration: Approval of commission and sitting fees for Independent Directors, and remuneration for Non-Executive Director Ashok Bhatia.
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.
Historical Stock Returns for Novartis
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.76% | -1.21% | +38.94% | 0.0% | 0.0% | +136.05% |
What is the new corporate name approved for Novartis India Limited, and what strategic rebranding or operational shifts does this change signify?
How might the implementation of the ESOP 2026 scheme impact Novartis India's talent retention strategies and short-term profitability metrics?
What specific strategic priorities has Dr. Vikas Gupta outlined for his tenure as MD & CEO, and how do they align with the recent constitutional changes?
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