RPG Life Sciences Limited has received a GST demand order from the Maharashtra State Tax Officer, totaling ₹1.08 crores for the tax period spanning April 2021 to March 2022. The pharmaceutical company disclosed this development under Regulation 30 of SEBI listing regulations.

GST Demand Details

The order issued under Section 73 of the Goods and Service Tax Act, 2017 (SGST Maharashtra) breaks down the total demand of ₹1,07,81,869 across multiple components:

Company's Response Strategy

RPG Life Sciences has indicated it is currently reviewing the GST order received from the Maharashtra tax authority. The company plans to pursue appropriate legal remedies to contest the demand raised by the tax department.

Financial Impact Assessment

Regarding the potential financial implications, RPG Life Sciences has stated that it does not foresee any material financial impact on account of this GST order. The company's assessment suggests confidence in its position to challenge the demand through legal channels.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2024 dated December 13, 2024, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

The disclosure was signed by Rajesh Shirambekar, Head – Legal & Company Secretary, ensuring proper corporate governance protocols were followed in communicating this development to the stock exchanges and investors.

RPG Life Sciences announced significant corporate restructuring initiatives following its board meeting held on December 15, 2025, including key leadership appointments and the successful establishment of a new subsidiary focused on its Active Pharmaceutical Ingredients (API) business operations. The company has now completed the subsidiary incorporation process and filed detailed disclosures under Regulation 30 of SEBI Listing Regulations with stock exchanges.

Leadership Appointment

The company's board has appointed Mr. Amol Lone as the new Chief Financial Officer and Key Managerial Personnel, effective from December 15, 2025. The appointment was made based on the recommendation of the Nomination and Remuneration Committee.

Mr. Lone brings extensive experience in corporate finance, business controlling, financial planning and analysis, IND AS, IFRS, US GAAP, direct and indirect taxation, transfer pricing, treasury, debt restructuring, and regulatory compliances including SEBI, RBI and FEMA. The company confirmed that Mr. Lone is not debarred from holding the office of director or key managerial personnel by virtue of any SEBI order or any other authority.

Subsidiary Incorporation Completed

The board has successfully completed the incorporation of RPG Active Pharma Limited, a wholly owned subsidiary dedicated to the company's API business operations. The subsidiary was officially incorporated on December 24, 2025, with the Ministry of Corporate Affairs issuing the Certificate of Incorporation.

API Business Transfer Details

RPG Life Sciences plans to transfer its existing API business operations to the newly formed subsidiary as a going concern. The API business contributed significantly to the company's operations during FY25.

Investment and Timeline

The company has committed to investing up to ₹105.00 crore in the new subsidiary across one or more tranches for capitalization, business operations, and other related requirements. The business transfer agreement is expected to be executed by February 28, 2026, with the transfer completion targeted by March 31, 2026, subject to statutory and regulatory approvals.

This strategic restructuring aims to create focused management of the API business and enhance operational and strategic flexibility for growth within this pharmaceutical segment. The transaction will be conducted at arm's length based on book value considerations.