Panacea Biotec Limited has announced that its board of directors will meet on Friday, May 29, 2026, in New Delhi. The primary agenda of the meeting is to consider and approve the standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2026.

During the meeting, the board may also discuss matters relating to the recommendation or passing over of dividend on equity as well as preference shares for the financial year. The notice of the meeting has been uploaded on the company's website in compliance with Regulation 46(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Trading Window Closure

Pursuant to the company's code of conduct for the prevention of insider trading, the trading window for designated persons, including their immediate relatives, remains closed. The window initially closed on April 1, 2026, and will continue to remain shut until May 31, 2026. It is scheduled to reopen on June 1, 2026.

Key Meeting Details

Panacea Biotec Limited has achieved a favorable outcome in its ongoing tax litigation, with the Income Tax Appellate Tribunal (ITAT) allowing the company's appeal and setting aside a substantial tax demand of ₹9.16 crore for Assessment Year 2020-21. The company disclosed this development through a regulatory filing dated April 30, 2026, in compliance with SEBI listing regulations.

ITAT Order Details

The Income Tax Appellate Tribunal, Delhi, through its order dated April 29, 2026, allowed the appeal filed by Panacea Biotec and set aside the order dated August 14, 2025, issued by the Commissioner of Income Tax (Appeals). The appellate tribunal's decision addresses issues arising from a Rectified Assessment Order dated October 10, 2023, which was passed by the Assessing Officer under sections 143(3) and 154 of the Income Tax Act, 1961.

Background of Tax Dispute

The original tax dispute stemmed from the Assessing Officer's decision to raise a demand of ₹9.16 crore for Assessment Year 2020-21. This demand was based on an addition of ₹3.44 crore under Section 14A of the Income Tax Act, read with Rule 8D of the Income Tax Rules, 1962. The company had challenged this assessment through the appellate process, first approaching the Commissioner of Income Tax (Appeals), and subsequently the Income Tax Appellate Tribunal.

Financial Implications

The ITAT's favorable ruling carries significant positive financial implications for Panacea Biotec. The tribunal's order effectively results in complete deletion of the disallowances of expenses amounting to ₹3.44 crore as well as cancellation of the entire demand of ₹9.16 crore previously raised by the Assessing Officer. This provides substantial financial relief to the pharmaceutical company and removes the contested tax burden from its books.

Regulatory Compliance and Disclosure

Panacea Biotec has disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made pursuant to Para B of Part A of Schedule III of the SEBI LODR Regulations, ensuring transparency with stakeholders regarding material developments in ongoing litigation matters.

The comprehensive disclosure includes detailed annexure providing all requisite information as per SEBI Master Circular and Industry Standards, demonstrating the company's commitment to regulatory compliance and stakeholder transparency.