Novartis India Limited has issued a corrigendum to its postal ballot notice dated April 16, 2026, correcting an inadvertent error related to the proposed appointment of Ms. Gowree Gokhale (DIN: 09351661) as an Independent Director of the Company. The corrigendum was published in newspapers on May 16, 2026, in compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Nature of the Correction

The original postal ballot notice, dispatched on April 16, 2026, to all shareholders whose email addresses are registered with the Company or Depository Participants, and subsequently published in newspapers on April 17, 2026, contained an inadvertent error in the classification of the resolution type. The correction pertains to Agenda Item No. 01 under Special Business in the notice.

The following table summarises the key details of the corrigendum:

Specific Errors Addressed

The inadvertent error appeared at the following locations within the original postal ballot notice:

• Page 2 of the Notice of Postal Ballot, above the resolution for the appointment of Ms. Gowree Gokhale
• Page 11 of the Explanatory Statement, in the 2nd and 3rd paragraphs
• Page 12 of the Explanatory Statement, in the last paragraph of the detailed profile of Ms. Gowree Gokhale

At all these locations, the resolution was inadvertently referred to as an "Ordinary Resolution" instead of a "Special Resolution."

Shareholder Communication and Compliance

Novartis India Limited has clarified that all other contents of the original postal ballot notice remain unchanged. Shareholders have been requested to take note of the correction and consider Item No. 1 under Special Business as a Special Resolution. The corrigendum and the revised notice of the postal ballot are also available on the Company's website at https://www.novartis.com/in-investors-corporate-governance/novartis-india-limited-annual-general-meeting .

The corrigendum was published in Financial Express and Navshakti on May 16, 2026, and was submitted to BSE Limited pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Chandni Maru, Company Secretary and Compliance Officer (Membership No. ACS 60291), on behalf of Novartis India Limited.

Novartis India Limited reported its audited financial results for the quarter and financial year ended March 31, 2026. The Board of Directors approved the results at a meeting held on May 12, 2026, with an unmodified audit opinion issued by B S R & Co. LLP.

Quarterly Performance

For the quarter ended March 31, 2026, revenue from operations stood at ₹905.5 million, compared to ₹838.8 million in the corresponding quarter of the previous year. EBITDA for Q4 FY26 was ₹206 million versus ₹239 million in Q4 FY25, with the EBITDA margin contracting to 22.77% from 28.50% year-on-year. Profit before tax for Q4 FY26 was ₹301.4 million versus ₹338.9 million in Q4 FY25. Net profit for the quarter declined to ₹252.5 million against ₹293.0 million in the year-ago period. Basic and diluted earnings per share (not annualised) for the quarter stood at ₹10.23 compared to ₹11.87 in Q4 FY25.

*Not annualised

Full-Year Financial Performance

For the financial year ended March 31, 2026, Novartis India recorded revenue from operations of ₹3,543.3 million, marginally lower compared to ₹3,562.7 million in the previous year. Total income, including other income of ₹387.7 million, stood at ₹3,931.0 million versus ₹3,982.3 million in FY25. Net profit for the year came in at ₹931.8 million, compared to ₹1,009.0 million in the prior year, reflecting a higher total tax expense of ₹364.8 million against ₹295.2 million previously. Total comprehensive income for FY26 was ₹946.0 million versus ₹1,018.7 million in FY25.

Key Notes and Corporate Developments

The Board recommended a dividend of ₹Nil per share of face value ₹5 each for FY26, compared to ₹25 per share in FY25. The company operates in a single segment — Pharmaceutical Business — generating all revenues from India. One customer accounted for revenue from sale of traded goods of ₹1,461.7 million in FY26. Following the Government of India's notification of four Labour Codes on November 21, 2025, the company recognized an increase in employee benefit provisions of ₹7.9 million in the current reporting period.

Ownership Change: Novartis AG Stake Sale

Novartis AG entered into a Share Purchase Agreement on February 19, 2026, to sell 1,74,50,680 fully paid-up equity shares of Novartis India Limited, representing 70.68% of the equity share capital, to a consortium comprising WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners. Upon receipt of required statutory approvals, the Acquirers will acquire control over the company and will be classified as the promoter.