Syngene International has received partial relief from the National Faceless Appeal Centre (NFAC) in ongoing tax litigation matters spanning multiple assessment years. The company disclosed this development through a regulatory filing dated February 14, 2026, in compliance with SEBI Listing Regulations.

Tax Appeal Orders and Timeline

The NFAC passed orders dated February 13, 2026, under section 250 of the Income-tax Act, 1961, providing partial relief to the company. These orders relate to appeals filed against additions and disallowances made by the Assessing Officer during assessment completion for three specific years.

Background of Tax Disputes

The tax disputes originated when the Assessing Officer made additions and disallowances of certain deductions claimed by the company during assessment completion under section 143(3) of the Income-tax Act. The company subsequently filed appeals against these orders on the dates mentioned above, challenging the additions and disallowances.

Expected Financial Impact

According to the company's disclosure, the management believes there may not be material impact on the company's financials, operations, or activities. However, the company expects positive outcomes from these orders:

• Reduction in contingent liability
• Eligibility for refunds

The Assessing Officer will now pass an order giving effect to the NFAC's decision, which should formalize these expected benefits.

Regulatory Compliance Details

The company received notification of these orders through SMS and subsequently downloaded them from the Income tax website on February 14, 2026. The disclosure was made in accordance with:

• Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015
• SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
• Industry Standards Note on Regulation 30 dated February 25, 2025

Current Status and Next Steps

The company has confirmed that no penalties, restrictions, or sanctions were imposed in the current orders dated February 13, 2026. Management stated that the company is in the process of analyzing the orders passed and will take appropriate action as necessary. The orders represent a significant development in tax matters that have been pending for several years, with some appeals dating back to 2016.

Syngene International has announced a significant revision to its financial outlook for FY26, projecting a decline of 2-3% compared to its previous forecast of mid-single digit growth. This updated guidance represents a notable shift in the company's expectations for the upcoming fiscal year.

Revised Financial Outlook

The pharmaceutical services company has adjusted its growth projections substantially, moving from an anticipated positive growth trajectory to expecting a contraction in business performance. The following table illustrates the change in outlook:

Impact on Business Expectations

This revision in guidance reflects a significant change in the company's assessment of market conditions and business prospects for FY26. The shift from expecting mid-single digit growth to anticipating a 2-3% decline indicates that Syngene International is now taking a more conservative approach to its financial projections.

The updated forecast suggests that the company is adjusting its expectations based on current market dynamics and operational considerations that have emerged since the previous guidance was issued.