Key Financial Figures (₹ in millions)
Q1 FY27 (Unaudited) Performance:
- Revenue from Operations: ₹1,038.1
- Other Income: ₹87.4
- Total Income: ₹1,125.5
- Total Expenses: ₹693.8
- Profit Before Tax: ₹431.7
- Tax Expense: ₹109.6 (Current Tax: ₹114.6, Deferred Tax Credit: ₹5.0)
- Profit for the Period: ₹322.1
- Earnings Per Share (Basic & Diluted): ₹13.05*
Comparative Performance:
- Q4 FY26: Profit of ₹252.5 million (EPS: ₹10.23*)
- Q1 FY25: Profit of ₹276.2 million (EPS: ₹11.19*)
- FY26 Audited: Profit of ₹931.8 million (EPS: ₹37.74)
Expense Breakdown (Q1 FY27):
- Purchases of Stock-in-Trade: ₹760.5
- Changes in Inventories: (₹203.8) credit
- Employee Benefits Expense: ₹47.2
- Finance Costs: ₹0.6
- Depreciation Expense: ₹4.2
- Impairment Loss on Receivables: ₹0.3
- Other Expenses: ₹84.8
Capital Structure
- Paid-up Equity Share Capital: ₹123.4 million (Face Value ₹5 per share)
- Other Equity as of March 31, 2026: ₹8,054.9 million
Significant Business Updates
Ownership Change Transaction:
On February 19, 2026, Novartis AG entered into a Share Purchase Agreement with WaveRise Investments Limited (Acquirer 1), ChrysCapital Fund X (Acquirer 2), and Two Infinity Partners (Acquirer 3) for the sale of 1,74,50,680 equity shares representing 70.68% of the company's equity share capital. The acquirers made a public announcement for an open offer on February 20, 2026, which closed on June 24, 2026. Post-acquisition, the acquirers will be classified as promoters of the company subject to receipt of required statutory approvals and compliance with SEBI (SAST) Regulations.
Operational Highlights:
- The company operates in a single segment: 'Pharmaceutical Business' generating revenues from operations in India
- One customer accounted for more than 10% of total revenue from sale of traded goods:
- Q1 FY27: ₹532.9 million
- Q4 FY26: ₹370.6 million
- Q1 FY25: ₹390.4 million
- FY26: ₹1,461.7 million
Regulatory and Tax Matters
Tax Adjustments:
- Other income for FY26 included interest on income tax refund of ₹13.3 million (Q4 FY26: ₹13.3 million; Q1 FY27: Nil)
- Current tax expense for FY26 included tax adjustments for earlier years of ₹26.0 million, comprising:
- ₹15.9 million expense for A.Y. 2008-2009
- ₹25.8 million expense for A.Y. 2015-2016
- (₹5.9 million) credit for A.Y. 2011-2012
- (₹45.5 million) credit for A.Y. 2018-2019
- ₹33.8 million expense for A.Y. 2023-2024
- ₹1.9 million expense for A.Y. 2025-2026
- Q4 FY26 included tax adjustment of (₹29.6) million credit for earlier years
Labour Code Implementation:
The Government of India notified four Labour Codes on November 21, 2025, consolidating 29 existing labour laws. The company's impact assessment resulted in an increase in provision for employee benefits by ₹7.9 million for FY26 (Gratuity: ₹4.4 million, leave benefits: ₹3.5 million). This incremental impact was recognized as employee benefit expense in the current reporting period under Ind AS19, primarily due to changes in wage definition.
Additional Information
- The company has no subsidiary/associate/joint venture entities
- Figures for three months ended March 31, 2026 are derived as difference between audited annual figures and published nine-month figures
- The financial results are prepared in accordance with Indian Accounting Standards and SEBI Listing Regulations
- The limited review report by BSR & Co. LLP did not identify any material misstatements