Sanofi India Limited has received a GST demand order from tax authorities in Ahmedabad, Gujarat, totaling ₹24.10 lakh for the financial year 2018-19. The pharmaceutical company disclosed this development in compliance with SEBI listing regulations on December 24, 2025.

Order Details and Timeline

The Deputy Commissioner of State Tax, Ahmedabad, Gujarat issued the order dated December 23, 2025, which was received by Sanofi India on the same day. The demand notice pertains to GST-related issues from FY2018-19.

Nature of Violations

The tax authorities have raised the demand due to excess claim of Input Tax Credit (ITC) in GSTR-3B returns as compared to ITC available in GSTR-2A returns. The Adjudicating/Assessing authority has denied the excess ITC claim, leading to the current dispute with tax authorities.

Company's Response

Sanofi India has indicated that it plans to challenge the order through proper legal channels. The company stated it would make an appeal before the Higher Tax Authorities, suggesting it disputes the findings and demands made in the order.

The pharmaceutical company has assessed that there is no quantifiable impact on its financial, operational, or other activities at this stage, indicating the matter is being treated as a routine compliance issue subject to appeal.

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 investor decisions.

The company secretary and compliance officer, Haresh Vala, signed the disclosure notice submitted to both BSE Limited and National Stock Exchange of India Limited on December 24, 2025.

Sanofi India Limited has successfully completed the shareholder approval process for Deepak Arora's appointment as Managing Director, with the postal ballot concluding on December 17, 2025. The voting results demonstrate strong shareholder confidence in the new leadership appointment.

Shareholder Approval Results

The postal ballot voting, conducted through remote e-voting from November 18 to December 17, 2025, yielded decisive results for both resolutions. The scrutinizer's report, prepared by Gaurav Sainani of SGGS Associates, confirmed the approval of Deepak Arora's dual appointment.

Voting Process and Compliance

The postal ballot process was conducted in full compliance with Regulation 44 of SEBI Listing Regulations and the Companies Act, 2013. The cut-off date for eligible voters was November 14, 2025, and the notice was dispatched to shareholders via email on November 17, 2025.

New Leadership at the Helm

Deepak Arora's appointment as Managing Director, effective from October 27, 2025, brings over three decades of pharmaceutical and healthcare experience to Sanofi India. His career spans across various geographies including North America, Europe, Middle East, and Africa, where he has held leadership positions in commercial, sales, marketing, and general management roles.

Key Responsibilities and Strategic Vision

In his new position, Arora will be tasked with defining and driving the strategic vision for Sanofi in India, spearheading strategic priorities to boost innovation and agility, fostering operational excellence across all functions, and championing the company's Diversity, Equity, and Inclusion culture.

Management Transition Details

Rachid Ayari stepped down from his position as Interim Managing Director on October 26, 2025, after serving in the interim role since July 21, 2025. Ayari continues to serve as Whole-time Director and Chief Financial Officer of Sanofi India. The Board has also authorized Deepak Arora to determine the materiality of events and make stock exchange disclosures, alongside other Key Managerial Personnel.

This management change, now formally approved by shareholders, marks a new chapter for Sanofi India as it continues its mission to promote health and chase the miracles of science to improve people's lives across the entire health spectrum in India.