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.

Novartis India Limited has completed the e-mailing of postal ballot notices to its members and published regulatory newspaper advertisements on April 17, 2026, under SEBI Listing Regulations. The pharmaceutical company filed a formal intimation with BSE Limited regarding the completion of the e-mailing process and subsequent newspaper publication.

Updated Regulatory Compliance Notice

The company filed an updated intimation with BSE Limited regarding the publication of newspaper advertisements in Financial Express and Navshakti on April 17, 2026. This notice was submitted pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming the completion of e-mailing postal ballot notices to members.

Postal Ballot Timeline and Process

The postal ballot notice was e-mailed to members on Thursday, April 16, 2026. The cut-off date for determining eligible members was set as Friday, April 10, 2026. Remote e-voting commenced on Friday, April 17, 2026, at 9:00 AM (IST) and will conclude on Saturday, May 16, 2026, at 5:00 PM (IST).

Corporate Communication Details

Company Secretary and Compliance Officer Chandni Maru signed the regulatory communication on behalf of Novartis India Limited. The notice was digitally signed on April 17, 2026, at 10:57:39 +05'30' and submitted to BSE Limited's corporate communications department.

Regulatory Framework Compliance

The postal ballot process is being conducted in accordance with Sections 110 and 108 of the Companies Act, 2013, Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014, and SEBI Listing Regulations. The company is also following Secretarial Standards on General Meetings issued by The Institute of Company Secretaries of India and various MCA circulars for conducting postal ballot processes through e-voting.

Scrutinizer Appointments

The Board of Directors has appointed Mr. S.N. Vishwanathan (ACS 19858; COP No. 24335) as the Scrutinizer and Mrs. Ashwini Vartak (ACS 21463; COP No. 16023) as the Alternate Scrutinizer to oversee the e-voting process in a fair and transparent manner.