Jubilant Pharmova Limited has announced a strategic investment in the Canadian pharmaceutical market through its subsidiary structure. The company disclosed that Jubilant Generics Limited, a step-down wholly owned subsidiary, has made an investment of CAD 30,000 (approximately ₹0.20 crores) in Jubilant Pharmaceuticals Inc., Canada on December 30, 2025.

Investment Details

The investment transaction was completed on December 30, 2025 at 5:14 pm, resulting in Jubilant Pharmaceuticals Inc. becoming a step-down wholly owned subsidiary of Jubilant Pharmova Limited. The investment structure and key parameters are outlined below:

Target Company Profile

Jubilant Pharmaceuticals Inc. was incorporated on June 17, 2025 under the Canada Business Corporations Act and is located in Canada. The entity operates in the pharmaceuticals industry but has yet to commence business operations, with nil turnover reported. The company represents a greenfield investment opportunity for Jubilant Pharmova's expansion strategy.

Strategic Objectives

The acquisition is designed to establish a branded generic business in Canada and strengthen Jubilant's presence in the Canadian pharmaceutical market. The company expects this strategic move to contribute to revenue growth by expanding its geographical footprint in the North American region. The investment aligns with the company's core pharmaceutical business and does not require any governmental or regulatory approvals.

Corporate Structure Impact

Following this investment, Jubilant Pharmaceuticals Inc. has become part of Jubilant Pharmova's subsidiary network. The promoter and promoter group have no direct interest in the acquired entity except through their shareholding in the holding company, Jubilant Pharmova Limited. The transaction does not fall under related party transactions as it involves the creation of a new wholly owned subsidiary structure.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the information has been simultaneously posted on the company's website at www.jubilantpharmova.com .

Jubilant Pharmova Limited has informed stock exchanges about a GST demand order received by its wholly-owned subsidiary, Jubilant Generics Limited, from tax authorities in Uttarakhand.

GST Demand Details

The Assistant Commissioner Central GST Division, Roorkee issued a Refund cum Rejection Order on December 26, 2023, at 4:33 PM (IST). The order pertains to Jubilant Generics Limited's facility located at Sikandarpur Bhainswal, Bhagwanpur, District Haridwar, Roorkee, Uttarakhand.

Nature of the Issue

The GST authorities have confirmed the demand and recovery of an erroneously sanctioned provisional refund amount. According to the order, this resulted from an alleged incorrect calculation in the refund process. The demand includes both the principal amount and applicable penalty components.

Company's Response and Legal Position

Jubilant Pharmova has outlined its stance on the GST demand order in its regulatory filing:

• The company considers the demand legally incorrect, bad in law, and frivolous
• Management believes the authorities did not properly examine legal provisions, facts, and documents already submitted
• The company maintains it has a very good case on merits
• Plans to file an appeal with documentary evidence before the Commissioner (Appeals)

Financial and Operational Impact

The company has clarified the expected impact of this development:

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and the SEBI Master Circular dated November 11, 2023. The company has simultaneously posted the relevant documentation on its website at www.jubilantpharmova.com as per regulatory requirements.

Jubilant Pharmova is currently in the process of taking necessary legal action to challenge the impugned demand order through the appropriate appellate channels.