Novartis India Limited has announced the appointment of Ms. Gowree Gokhale (DIN: 09351661) as a Non-Executive and Independent Director for a term of five years. The resolution was passed through a postal ballot conducted via remote e-voting, concluding on May 16, 2026.

Voting Results Summary

The special resolution received overwhelming approval from shareholders. A total of 17,547,644 votes were polled, with 99.97% cast in favour of the appointment. The detailed voting pattern across various shareholder categories is outlined below.

Postal Ballot Process

The postal ballot notice was initially dispatched on April 16, 2026. A corrigendum was subsequently issued on May 15, 2026, to correct the classification of the resolution from an "Ordinary Resolution" to a "Special Resolution." Remote e-voting was conducted from April 17, 2026, to May 16, 2026, on the platform provided by NSDL.

Scrutinizer's Report

S. N. Ananthasubramanian & Co., Company Secretaries, were appointed as the scrutinizer for the postal ballot. In their report dated May 18, 2026, they confirmed that the resolution was passed with the requisite majority. The results have been submitted to BSE Limited and are available on the company's website.

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.