Sanofi India Limited has received a final income tax assessment order for FY 2022-23 with a determined tax liability of ₹12.37 crores, including interest. The pharmaceutical company disclosed this development to stock exchanges in compliance with regulatory requirements on March 28, 2026.

Assessment Order Details

The Assessment Unit of the Income Tax Department issued the final assessment order for FY 2022-23 (AY 2023-24), which was received by the company on March 27, 2026. The order determines a total tax liability of INR 12,36,99,710, including applicable interest charges.

Key Issues Identified

The assessment order includes specific adjustments and disallowances that contributed to the determined tax liability. The Income Tax Department made adjustments on transfer pricing issues, which typically involve scrutiny of transactions between related entities to ensure they are conducted at arm's length prices.

Additionally, the order includes disallowance of payments made to healthcare professionals. Such payments in the pharmaceutical industry often relate to consulting fees, research collaborations, or educational activities, which may face regulatory scrutiny regarding their business justification and compliance with applicable guidelines.

Company's Response Strategy

Sanofi India has announced its intention to challenge the assessment order through the established legal framework. The company stated it would make an appeal before higher tax authorities against the adjustments and disallowances made in the assessment order.

Key Response Elements:

• Filing appeal with higher tax authorities
• Challenging transfer pricing adjustments
• Contesting disallowance of healthcare professional payments
• Seeking review of the determined tax liability

Regulatory Compliance

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation requires listed companies to inform stock exchanges about material events that could impact their operations or financial position.

The communication was signed by Haresh Vala, Company Secretary and Compliance Officer, ensuring proper authorization and compliance with corporate governance requirements. The company has fulfilled its obligation to keep stakeholders informed about developments that may have financial implications for the organization.

Sanofi India Limited has issued a public notice regarding the mandatory transfer of equity shares to the Investor Education and Protection Fund (IEPF) Authority for shareholders who have not claimed their dividends for seven consecutive years or more.

Regulatory Compliance Notice

The company has published newspaper advertisements on March 14, 2026, in Business Standard (English) and Sakal (Marathi) newspapers, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This notice addresses shareholders whose shares are liable for transfer to the IEPF as per Section 124(6) of the Companies Act, 2013.

Transfer Requirements and Timeline

Under the Companies Act, 2013 and the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, companies must transfer all shares to the IEPF demat account where dividends have remained unclaimed for seven consecutive years or more.

Sanofi India has sent separate communications dated March 13, 2026, to all affected shareholders who have not encashed their final dividend for financial year 2018 and subsequent dividends declared by the company.

Shareholder Action Required

Shareholders are requested to forward requisite documents to either the company or its Registrar and Transfer Agent, MUGF Intime India Private Limited (formerly Link Intime India Private Limited), to claim unclaimed dividend amounts and shares. A comprehensive list of shareholders who have not encashed dividends for seven consecutive years is available on the company's website.

Recovery Process for Transferred Shares

Once shares are transferred to IEPF, all future benefits will be issued in favor of the IEPF Authority. However, shareholders can reclaim both unclaimed dividends and transferred shares by:

• Making an online application in prescribed e-form IEPF-5
• Obtaining an entitlement letter from the company
• Submitting required documents as enumerated in the e-form
• Following the procedure outlined on the IEPF website at www.iepf.gov.in

Contact Information

For queries related to this matter, shareholders can contact:

The notice emphasizes that no claims will be entertained against the company once shares are transferred to IEPF, making it crucial for eligible shareholders to act before the June 13, 2026 deadline.