Evonile Pharma Q2 FY26 Reports ₹775.4M Loss

Quarter Ended September 30, 2026 (Unaudited):

Revenue from Operations: ₹560.5 million
Other Income: ₹77.4 million
Total Income: ₹637.9 million
Total Expenses: ₹965.9 million
Loss before exceptional items and tax: ₹328.0 million
Exceptional items: ₹682.6 million (Refer Note 12)
Loss Before Tax: ₹1,010.6 million
Tax Credit: ₹235.2 million (Current Tax: ₹114.6 million credit, Deferred Tax: ₹120.6 million credit)
Net Loss for the Quarter: ₹775.4 million
Other Comprehensive Loss: ₹7.8 million
Total Comprehensive Loss: ₹783.2 million
Basic & Diluted EPS: (₹31.41)*

Half Year Ended September 30, 2026 (Unaudited):

Comparative Figures:

Assets:

Liabilities and Equity:

Net Cash from Operating Activities: ₹1,381.9 million
Net Cash used in Investing Activities: ₹7,368.9 million
Purchase of Property, Plant and Equipment and Intangible Assets: ₹13,132.4 million
Purchase of Investments: ₹500.0 million
Net Cash from Financing Activities: ₹7,944.4 million
Proceeds from Long-term Borrowings (net): ₹8,000.0 million
Net increase in Cash and Cash Equivalents: ₹1,957.4 million

Ownership Change:

On February 19, 2026, Novartis AG entered into a Share Purchase Agreement with WaveRise Investments Limited and ChrysCapital Fund X for the sale of Novartis India Limited
Novartis AG transferred its entire shareholding of 1,74,50,680 equity shares (70.68% of equity share capital) to the acquirers
A public announcement for an open offer was made on February 20, 2026, under SEBI SAST Regulations

Acquisition Activities:

During Q2 FY26, the Company executed an asset purchase agreement and trademark assignment deeds on September 7, 2026 with Pfizer Inc., USA and Pfizer Products Inc., USA for acquisition of assets
Entered into an Exclusive Promotion and Distribution Agreement dated September 8, 2026 with Novartis Healthcare Private Limited for an upfront consideration to distribute NHPL's two products in retina portfolio in India

Contract Termination:

The Company entered into a termination agreement dated August 7, 2026 with one major customer, terminating the exclusive sales and distribution of its Established Medicine Brands effective September 30, 2026
Exceptional items of ₹682.6 million for Q2 and H1 FY26 include ₹610.0 million arising from this termination and related inventory purchase arrangements

Management Changes:

During Q2 FY26, the Board appointed Dr. Vikas Gupta as Managing Director and Chief Executive Officer
Mr. Bhagwat Singh Deora appointed as Chief Financial Officer

Corporate Actions:

Company name changed from "Novartis India Limited" to "Evonile Pharma Limited" effective September 24, 2026
Adopted Employee Stock Option Scheme 2026 ("ESOP 2026") approved by Board on August 7, 2026 and shareholders at AGM
Post-quarter (October 8, 2026), Board approved raising funds through a rights issue of partly paid-up equity shares

The Company has a single operating segment: 'Pharmaceutical Business' operating in India
Other expenses include one-time expenses relating to transition activities and acquisition amounting to ₹154.2 million
Other income mainly includes interest income on bank deposits
Current tax expense for year ended March 31, 2026 includes tax adjustments for earlier years of ₹26.0 million
The Company does not have any subsidiary/associate/joint venture entities
Figures rounded off to the nearest lakh, with "0" representing amount less than ₹50,000