Jubilant Pharmova Limited has informed stock exchanges about receiving a significant tax demand order from the Income Tax Department. The pharmaceutical company disclosed this development under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Tax Demand Details

The Income Tax Department, DCIT/ACIT (Central), Moradabad, has raised a tax demand of ₹22.10 crores against Jubilant Pharmova for the financial year 2020. The order was dated December 27, 2025, with the company receiving it on December 30, 2025, at 4:23 PM (IST).

Basis of Tax Demand

The tax demand primarily arises from several issues identified by the Income Tax Department:

• Arithmetical errors and mistakes apparent from records
• Disallowances of expenses and deductions
• Transfer pricing adjustments
• Ignoring the contentions presented by the company

Company's Response Strategy

Jubilant Pharmova has expressed strong disagreement with the tax demand, stating that it suffers from mistakes apparent from records and was made while ignoring the company's contentions. The company has outlined its response strategy to challenge the order.

Management Outlook

The company maintains confidence in its position, believing that the impugned tax demand will likely be deleted post the redressal process. Jubilant Pharmova does not anticipate any material financial implications from this matter, indicating management's confidence in successfully challenging the order through appropriate legal channels.

The disclosure was made by Company Secretary Naresh Kapoor on December 31, 2025, ensuring compliance with regulatory requirements and keeping stakeholders informed about this significant development.

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 .