Panacea Biotec Limited has received two additional demand orders from the Income Tax Department aggregating to ~₹4.32 crore. These orders, dated September 28, 2026, and received on September 29, 2026, relate to penalties for alleged misreporting or underreporting of income for Assessment Years 2022-23 and 2023-24.

This development follows earlier disclosures regarding four demand orders totaling ₹9.82 crore issued on September 25, 2026, which covered assessment years 2014-15 to 2016-17 and 2018-19. The new notices were issued by the Office of the Assistant Commissioner of Income Tax, Delhi, under Section 156 of the Income Tax Act, 1961. The penalties were imposed under Section 270A of the Act.

Company response and financial impact

Panacea Biotec stated that it does not envisage any significant impact on its financial, operational, or other activities due to this development. The company assessed that the demand is not maintainable and is taking all necessary steps to contest it. This includes filing an appeal with the appellate authority against the said demand.

Details of the tax demand

The following table outlines the key details of the latest communication received by the company:

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Panacea Biotec has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026. The filing confirms the company’s continued adherence to sustainability disclosure norms under SEBI regulations.

The report was filed pursuant to Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. While Panacea Biotec does not fall within the top 1,000 listed entities based on market capitalization as of December 31, 2025, it is voluntarily continuing to comply with relevant BRSR provisions applicable in previous years.

General Disclosures

The report covers standalone operations for the current financial year, April 1, 2025 to March 31, 2026. Key corporate details include:

Ankit Jain, General Manager - Legal & Company Secretary, signed the filing on September 7, 2026. The complete BRSR forms part of the Annual Report for FY26 and is accessible via the company’s website.

Business Activities

Panacea Biotec operates exclusively in the pharmaceutical sector. The manufacturing of pharmaceuticals, medicinal, chemical, and botanical products accounts for 100% of the entity’s turnover. This concentration underscores the company’s focused operational strategy within the healthcare domain.

The company disclosed that it has not instituted any process to monitor or verify whether suppliers or distributors participate in its business responsibility initiatives. No assurance provider was engaged for this reporting cycle.