Novartis India Limited — Quarter and year ended March 31, 2026
| Sr. No. | Particulars | 3 months ended 31.03.2026 Refer Note 11 | 3 months ended 31.12.2025 (Unaudited) | 3 months ended 31.03.2025 Refer Note 11 | Year ended 31.03.2026 (Audited) | Year ended 31.03.2025 (Audited) |
|---|---|---|---|---|---|---|
| 1. | Revenue from Operations | 905.5 | 859.0 | 838.8 | 3,543.3 | 3,562.7 |
| Other Income (Refer Note 6) | 100.1 | 87.5 | 106.3 | 387.7 | 419.6 | |
| Total Income | 1,005.6 | 946.5 | 945.1 | 3,931.0 | 3,982.3 | |
| 2. | Expenses | |||||
| (a) | Purchases of Stock-in-Trade | 683.4 | 407.7 | 648.4 | 2,105.8 | 1,990.7 |
| (b) | Changes in Inventories of Stock-in-Trade | (161.6) | 81.3 | (155.4) | (122.1) | 37.5 |
| (c) | Employee Benefits Expense (Refer Note 9) | 43.5 | 61.4 | 31.7 | 210.8 | 187.2 |
| (d) | Finance Costs | 0.7 | 9.8 | 1.2 | 12.6 | 7.7 |
| (e) | Depreciation Expense | 4.2 | 4.8 | 5.3 | 19.5 | 21.9 |
| (f) | Impairment Loss on Receivables | (0.7) | (0.3) | (2.0) | (1.3) | (1.7) |
| (g) | Other Expenses (Refer Note 7) | 134.7 | 85.3 | 77.0 | 409.1 | 434.8 |
| Total Expenses | 704.2 | 650.0 | 606.2 | 2,634.4 | 2,678.1 | |
| 3. | Profit Before Tax | 301.4 | 296.5 | 338.9 | 1,296.6 | 1,304.2 |
| 4. | Tax Expense/(Credit) | |||||
| – Current Tax (Refer Note 8) | 29.3 | 139.4 | 38.4 | 349.5 | 299.6 | |
| – Deferred Tax | 19.6 | (3.8) | 7.5 | 15.3 | (4.4) | |
| Total Tax Expense | 48.9 | 135.6 | 45.9 | 364.8 | 295.2 | |
| 5. | Profit for the Period / Year | 252.5 | 160.9 | 293.0 | 931.8 | 1,009.0 |
| 6. | Other Comprehensive Income | |||||
| – Items that will not be reclassified to profit or loss | ||||||
| Remeasurements (loss)/gain on the defined benefit plans | 20.9 | (1.9) | 13.0 | 19.0 | 13.0 | |
| Income tax relating to these items | (5.3) | 0.5 | (3.3) | (4.8) | (3.3) | |
| 7. | Total Comprehensive Income for the Period / Year | 268.1 | 159.5 | 302.7 | 946.0 | 1,018.7 |
| 8. | Paid-up Equity Share Capital (Face Value ₹ 5 each) | 123.4 | 123.4 | 123.4 | 123.4 | 123.4 |
| 9. | Other Equity | 8,054.9 | 7,726.2 | |||
| 10. | Earnings Per Share (in ₹) (Basic & Diluted) – (of ₹ 5 each) (*not annualized) | 10.23* | 6.52* | 11.87* | 37.74 | 40.87 |
| Particulars | As at 31.03.2026 (Audited) | As at 31.03.2025 (Audited) |
|---|---|---|
| A Assets | ||
| Non-Current Assets | ||
| Property, Plant and Equipment | 8.2 | 9.7 |
| Right-of-use Assets | 20.6 | 35.7 |
| Financial Assets | ||
| (i) Other Financial Assets | 10.6 | 10.6 |
| Deferred Tax Assets (Net) | 134.7 | 154.8 |
| Other Tax Assets (Net) | 1,188.4 | 1,152.5 |
| Other Non-Current Assets | 737.7 | 656.6 |
| Total Non-Current assets | 2,100.2 | 2,019.9 |
| Current Assets | ||
| Inventories | 533.2 | 411.1 |
| Financial Assets | ||
| (i) Trade Receivables | 370.5 | 401.4 |
| (ii) Cash and Cash Equivalents | 525.0 | 520.7 |
| (iii) Bank Balances other than (ii) above | 6,152.0 | 5,959.6 |
| (iv) Other Financial Assets | 6.5 | 9.4 |
| Other Current Assets | 95.3 | 156.0 |
| Total current assets | 7,682.5 | 7,458.2 |
| TOTAL ASSETS | 9,782.7 | 9,478.1 |
| B Equity and Liabilities | ||
| Equity | ||
| Equity Share Capital | 123.4 | 123.4 |
| Other Equity | 8,054.9 | 7,726.2 |
| Total Equity | 8,178.3 | 7,849.6 |
| Liabilities | ||
| Non-Current Liabilities | ||
| Financial Liabilities | ||
| (i) Lease Liabilities | 15.7 | 32.1 |
| (ii) Other Financial Liabilities | 1.5 | 2.0 |
| Provisions | 137.5 | 173.9 |
| Total Non-Current Liabilities | 154.7 | 208.0 |
| Current Liabilities | ||
| Financial Liabilities | ||
| (i) Lease Liabilities | 16.4 | 18.5 |
| (ii) Trade Payables | ||
| – total outstanding dues of micro and small enterprises | 5.1 | 4.5 |
| – total outstanding dues of creditors other than micro and small enterprises | 541.4 | 510.2 |
| (iii) Other Financial Liabilities | 187.1 | 195.4 |
| Other Current Liabilities | 35.9 | 34.4 |
| Provisions | 500.9 | 523.1 |
| Current Tax Liabilities (Net) | 162.9 | 134.4 |
| Total Current Liabilities | 1,449.7 | 1,420.5 |
| TOTAL EQUITY AND LIABILITIES | 9,782.7 | 9,478.1 |
| Particulars | Year ended March 31, 2026 (Audited) | Year ended March 31, 2025 (Audited) |
|---|---|---|
| A. Cash flow from operating activities | ||
| Profit before tax | 1,296.6 | 1,304.2 |
| Adjustments for – | ||
| Depreciation Expense | 19.5 | 21.9 |
| Share Based Payments | 2.7 | 3.3 |
| Interest Income | (382.0) | (408.8) |
| Unwinding of discount on security deposits | (0.7) | (0.7) |
| Finance Costs | 12.5 | 7.7 |
| Loss/(Gain) on sale of Property, Plant and Equipment (Net) | 0.3 | (1.1) |
| Unrealised loss/(Gain) on Foreign currency transactions (Net) | 14.1 | (3.2) |
| Credit Balances Written-Back | (3.9) | (5.5) |
| Impairment loss on receivables | (1.3) | (1.7) |
| Provision for deposits/advances (net) | 1.2 | 0.1 |
| Operating cash flows before working capital changes | 959.0 | 916.2 |
| Movement in operating assets and liabilities | ||
| Decrease Trade Receivables | 32.2 | 15.0 |
| (Increase)/ Decrease Inventories | (122.1) | 37.5 |
| Decrease Non-current Financial Assets Others | 0.2 | 10.8 |
| Decrease/(Increase) Current Financial Assets Others | 2.0 | (1.1) |
| (Increase)/Decrease Other Non-Current Assets | (81.1) | 123.3 |
| Decrease Other Current Assets | 58.0 | 1.1 |
| Increase/(Decrease) Trade Payables | 21.8 | (92.5) |
| (Decrease) Provisions | (39.6) | (11.9) |
| Increase/(Decrease) Other Current Liabilities | 1.5 | (16.0) |
| (Decrease) Non-current Financial Liabilities | (0.5) | (0.2) |
| Increase/ (Decrease) Current Financial Liabilities | (11.5) | (73.6) |
| Cash generated from operations | 819.9 | 908.6 |
| Income Tax (Paid)/ Refund received | (352.6) | (162.9) |
| Net Cash generated from operating activities | 467.3 | 745.7 |
| B. Cash flow from investing activities | ||
| Payments for Property, Plant and Equipment | (3.4) | – |
| Proceeds from disposal of Property, Plant and Equipment | 0.2 | 3.2 |
| Interest received | 379.7 | 412.7 |
| Fixed deposits placed during the year | (17,390.2) | (11,500.0) |
| Fixed deposits receipts during the year | 17,190.0 | 11,051.0 |
| Net cash generated from / (used in) investing activities | 176.3 | (33.1) |
| C. Cash flow from financing activities | ||
| Lease payments | (22.0) | (24.1) |
| Finance cost paid | – | (0.1) |
| Dividends paid | (617.3) | (617.3) |
| Net cash (used in) financing activities | (639.3) | (641.5) |
| Net increase in Cash and Cash Equivalents | 4.3 | 71.1 |
| Cash and Cash Equivalents – At the beginning of the period/year | 520.7 | 449.6 |
| Cash and Cash Equivalents – At the end of the period/year | 525.0 | 520.7 |
| Sr no. | Name of the Company | Name of Related party | Relationship with the company | Nature of the transaction | Description of transactions | Value of the transactions | Remarks by the Audit Committee | Value of Transaction during the quarter | Opening Balance | Closing Balance |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Novartis India Limited | Novartis AG | Holding Company | Any other transaction | Royalty expenses | 44.33 | None | 12.16 | 12.20 | 10.92 |
| 2 | Novartis India Limited | Novartis-Mitarbeiterbeteiligungsstiftung (MBS) | Fellow Subsidiary | Any other transaction | Purchase of shares | 10.00 | None | 3.07 | 1.74 | 3.50 |
| 3 | Novartis India Limited | Novartis India Limited Employees’ Provident Fund | Fellow Subsidiary | Any other transaction | Contribution to In-house Trust for Post Employment Benefits | 120.00 | None | 6.74 | 0.00 | 0.00 |
| 4 | Novartis India Limited | Novartis Pharma AG | Fellow Subsidiary | Purchase of goods or services | – | 3000.00 | None | 615.69 | 150.10 | 293.32 |
| 5 | Novartis India Limited | Novartis India Limited Gratuity fund | Fellow Subsidiary | Any other transaction | Contribution to In-house Trust for In-house Gratuity fund | 23.00 | None | 0.87 | 0.00 | 0.00 |
| 6 | Novartis India Limited | Novartis Healthcare Private Limited | Fellow Subsidiary | Sale of goods or services | – | 11.00 | None | 4.53 | 0.84 | 0.81 |
| 7 | Novartis India Limited | Novartis Healthcare Private Limited | Fellow Subsidiary | Any other transaction | Business Support Services | 37.28 | None | 16.06 | 3.05 | 3.05 |
| 8 | Novartis India Limited | Novartis Healthcare Private Limited | Fellow Subsidiary | Purchase of goods or services | – | 30.00 | None | 12.09 | 2.31 | 1.78 |
| 9 | Novartis India Limited | Novartis Healthcare Private Limited | Fellow Subsidiary | Any other transaction | Commission Income | 1.00 | None | 0.06 | 0.17 | 0.00 |
| Sl. No. | Entity | Person | Designation | Nature of Transaction | Particulars | Amount (₹ Lakhs) | Balance Outstanding | Closing Balance | Debit | Credit |
|---|---|---|---|---|---|---|---|---|---|---|
| 10 | Novartis India Limited | Novartis Healthcare Private Limited | Fellow Subsidiary | Purchase of goods or services | – | 60.00 | None | 26.96 | 5.08 | 5.08 |
| 11 | Novartis India Limited | Ms. Sandra Martyres | Independent Director | Any other transaction | Sitting fees | 0.50 | None | 0.30 | 0.00 | 0.00 |
| 12 | Novartis India Limited | Mr. Sanker Parameswaran | Independent Director | Any other transaction | Sitting fees | 0.50 | None | 0.30 | 0.00 | 0.00 |
| 13 | Novartis India Limited | Ms. Gira Sardesai | Independent Director | Any other transaction | Sitting fees | 0.50 | None | 0.30 | 0.00 | 0.00 |
| 14 | Novartis India Limited | Ms. Sandra Martyres | Independent Director | Any other transaction | Commission Income | 1.00 | None | 1.00 | 0.00 | 0.00 |
| 15 | Novartis India Limited | Mr. Sanker Parameswaran | Independent Director | Any other transaction | Commission Income | 1.00 | None | 1.00 | 0.00 | 0.00 |
| 16 | Novartis India Limited | Ms. Gira Sardesai | Independent Director | Any other transaction | Commission Income | 1.00 | None | 1.00 | 0.00 | 0.00 |
| 17 | Novartis India Limited | Novartis Healthcare Private Limited | Fellow Subsidiary | Any other transaction | expenses recharged to | 0.90 | None | 0.90 | 0.00 | 0.00 |