Financial Results (₹ in millions)
Quarter Ended June 30, 2026 (Unaudited)
- Revenue from Operations: ₹1,038.1
- Other Income: ₹87.4
- Total Income: ₹1,125.5
- Total Expenses: ₹693.8
- Purchases of Stock-in-Trade: ₹760.5
- Changes in Inventories of Stock-in-Trade: (₹203.8)
- Employee Benefits Expense: ₹47.2
- Finance Costs: ₹0.6
- Depreciation Expense: ₹4.2
- Impairment Loss on Receivables: ₹0.3
- Other Expenses: ₹84.8
- Profit Before Tax: ₹431.7
- Tax Expense: ₹109.6
- Current Tax: ₹114.6
- Deferred Tax: (₹5.0)
- Profit for the Period: ₹322.1
- Earnings Per Share (Basic & Diluted): ₹13.05*
- Paid-up Equity Share Capital: ₹123.4
Comparative Results
Quarter Ended March 31, 2026:
- Revenue from Operations: ₹905.5
- Profit for the Period: ₹252.5
- EPS: ₹10.23*
Quarter Ended June 30, 2025:
- Revenue from Operations: ₹875.5
- Profit for the Period: ₹276.2
- EPS: ₹11.19*
Key Notes to Financial Results
Segment Information
- Single operating segment: Pharmaceutical Business
- Operations entirely within India
- One customer accounted for more than 10% of traded goods revenue:
- Year ended March 31, 2026: ₹1,461.7 million
- Q2 FY26: ₹532.9 million
- Q1 FY26: ₹370.6 million
- Q2 FY25: ₹390.4 million
Other Income Details
- Interest on income tax refund:
- Year ended March 31, 2026: ₹13.3 million
- Q2 FY26: ₹Nil
- Q1 FY26: ₹13.3 million
- Q2 FY25: ₹Nil
Tax Adjustments
Current tax expense includes adjustments for earlier years:
- Year ended March 31, 2026: ₹26.0 million
- Q2 FY26: ₹Nil
- Q1 FY26: (₹29.6 million)
- Q2 FY25: ₹Nil
Detailed tax adjustments for FY26:
- A.Y. 2008-2009: ₹15.9 million expense (appellate orders)
- A.Y. 2015-2016: ₹25.8 million expense (appellate orders)
- A.Y. 2011-2012: (₹5.9 million) credit (appellate orders)
- A.Y. 2018-2019: (₹45.5 million) credit (limitation period completion)
- A.Y. 2023-2024: ₹33.8 million expense (assessment order)
- A.Y. 2025-2026: ₹1.9 million expense (return of income true-up)
Ownership Change Update
Share Purchase Agreement
- Date: February 19, 2026
- Parties: Novartis AG (seller) with WaveRise Investments Limited (Acquirer 1), ChrysCapital Fund X (Acquirer 2), and Two Infinity Partners (Acquirer 3)
- Shares: 1,74,50,680 equity shares (70.68% of equity share capital)
- Status: Pending statutory approvals and SEBI (SAST) Regulations compliance
- Post-transaction: Acquirers will be classified as 'promoter' of the Company
Open Offer
- Public announcement made: February 20, 2026
- Open offer closed: June 24, 2026
- Conducted under Regulations 3(1) and 4 of SEBI SAST Regulations
Labour Codes Impact
Regulatory Change
- Notification date: November 21, 2025
- Codes implemented: Code on Wages 2019, Industrial Relations Code 2020, Code on Social Security 2020, Occupational Safety, Health and Working Conditions Code 2020
- Impact: Increase in provision for employee benefits by ₹7.9 million for year ended March 31, 2026
- Gratuity: ₹4.4 million
- Leave benefits: ₹3.5 million
- Reason: Change in wage definition under new Labour Codes
- Accounting treatment: Recognized as employee benefit expense in accordance with Ind AS19
Debt and Default Status
- Loans/revolving facilities from banks/financial institutions: ₹NIL outstanding, ₹NIL default
- Unlisted debt securities (NCDs/NCRPS): ₹NIL outstanding, ₹NIL default
- Total financial indebtedness: ₹NIL
Corporate Structure
- No subsidiary, associate, or joint venture entities during reporting period
Audit and Approval Details
- Financial results reviewed by Audit Committee: July 23, 2026
- Approved by Board of Directors: July 23, 2026
- Limited review conducted by BSR & Co. LLP
- Prepared in accordance with Indian Accounting Standards and SEBI Listing Regulations
Auditor's Limited Review Report
- Conducted by BSR & Co. LLP
- Standard used: SRE 2410 issued by ICAI
- No modifications to the report
- Figures for Q1 FY26 are balancing figures between audited annual figures and published YTD figures
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