Novartis India MD, chairman, board of directors and AGM

NSE: NOVARTINDBSE: 500672Pharmaceuticals & BiotechnologySmall Cap

₹1,824.50₹140.00 (8.31%)BSE ₹1,834.75

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,684.50.

52-week range of BSE trades to 23 Oct 2026

₹750.00Low, 21 Jan 2026₹2,588.00High, 10 Sep 2026

Next results date: the board meets on 3 Nov 2026 to consider: quarterly results.

Market cap: ₹4,505 Cr1,055th largest listed
P/E: 46.1
P/B: 5.5
Dividend yield: Nonein the last 12 months
ROE: 12.2%
ROCE: 12.2%
Debt to equity: 0.00
Volume, NSE: 1,46,21823.7% delivered

Novartis India board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

ChairpersonCHRISTOPHER DAVID SNOOK
Company Secretary and Compliance OfficerMs. Chandni Maru

6 directors3 independent2 executive1 non-executive

CHRISTOPHER DAVID SNOOK · ChairpersonNon-executive · joined Aug 2008 · 1 listed board · 2 committee seats, 1 as chair
GIRA JAGDEESH SARDESAIIndependent · joined Mar 2024 · 27 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 2 as chair
SANKER PARAMESWARANIndependent · joined Jun 2020 · reappointed Jun 2025 · 72 months as independent · 2 listed boards · 2 as independent · 4 committee seats, 1 as chair
GOWREE GOKHALEIndependent · joined Apr 2026 · 3 months as independent · 1 listed board · 1 as independent · 1 committee seat
SHILPA SHASHANK JOSHIExecutive · joined Nov 2022 · 1 listed board · 1 committee seat
FALIN ISHWARLAL MAJMUDARExecutive · joined Jun 2024 · 1 listed board · 1 committee seat

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left

SANDRA MARTYRES, left 18 Apr 2026: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

Board
- 29 Jun 20266 of 6 present3 independent · 47 days in between
- 12 May 20266 of 6 present3 independent · 45 days in between
- 27 Mar 20266 of 6 present3 independent · 35 days in between
- 19 Feb 20266 of 6 present3 independent · 21 days in between
1 earlier meeting
- 28 Jan 20266 of 6 present3 independent
Audit Committee
Chair GIRA JAGDEESH SARDESAI
CHRISTOPHER DAVID SNOOK, SANKER PARAMESWARAN, GOWREE GOKHALE
- 29 Jun 20264 of 4 present3 independent · 47 days in between
- 12 May 20264 of 4 present3 independent · 103 days in between
- 28 Jan 20264 of 4 present3 independent
Nomination and remuneration committee
Chair GIRA JAGDEESH SARDESAI
CHRISTOPHER DAVID SNOOK, GOWREE GOKHALE
- 11 May 20263 of 3 present2 independent · 44 days in between
- 27 Mar 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair CHRISTOPHER DAVID SNOOK
SANKER PARAMESWARAN, SHILPA SHASHANK JOSHI, FALIN ISHWARLAL MAJMUDAR
- 11 May 20264 of 4 present1 independent · 102 days in between
- 28 Jan 20264 of 4 present1 independent
Risk Management Committee
Chair SANKER PARAMESWARAN
GIRA JAGDEESH SARDESAI, SHILPA SHASHANK JOSHI, FALIN ISHWARLAL MAJMUDAR
- 11 May 20264 of 4 present2 independent · 194 days in between
- 28 Oct 20254 of 4 present2 independent
Corporate Social Responsibility Committee
Chair CHRISTOPHER DAVID SNOOK
GOWREE GOKHALE, SHILPA SHASHANK JOSHI, FALIN ISHWARLAL MAJMUDAR
- 29 Jun 20264 of 4 present1 independent · 48 days in between
- 11 May 20264 of 4 present1 independent · 102 days in between
- 28 Jan 20264 of 4 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Jun 2026.

B S R & Co. LLPPeer-review certificate valid to Jul 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Novartis India AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Novartis India dividend history

Annual general meeting, 24 Sep 2026

38,952 shareholders on the register on 17 Sep 2026; present: 3 promoters and 50 others; votes counted by S N Viswanathan / S. N. Ananthasubramanian & Co..The company's voting result (opens in a new tab)

To receive, consider and adopt the Audited Balance Sheet as on March 31, 2026 and the Statement of Profit and Loss for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.05%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To regularize the appointment of Mr. Ashok Bhatia (DIN: 02090239), Additional Non-Executive Director, by appointing him as a Non-Executive Director of the Company.
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To regularize the appointment of Mr. Kshitij Sheth (DIN: 00125058) Additional Non-Executive Director, by appointing him as a Non-Executive Director of the Company.
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To regularize the appointment of Dr. Jagriti Gupta (DIN: 11760159) Additional Non-Executive Director, by appointing her as a Non-Executive Director of the Company.
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To regularize the appointment of Mr. Ramesh Ramadurai (DIN: 07109252), Additional Director (Independent Category), by appointing him as an Independent Director of the Company.
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To regularize the appointment of Mr. Shashank Sinha (DIN: 02544431), Additional Director (Independent Category), by appointing him as an Independent Director of the Company
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.06%
To regularize the appointment of Ms. Suchita Sharma (DIN: 10656028), Additional Director (Independent Category), by appointing her as an Independent Director of the Company.
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To regularize the appointment of Dr. Vikas Gupta (DIN: 10704329), Additional Director (Executive Category), by appointing him as a Director of the Company.
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To Approve the Employee Stock Option Scheme 2026 ("ESOP 2026")
Special
99.05% for0.95% against
Against: promoters 0.00% · institutions 27.76% · other public 0.09%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.06%
To consider and approve the appointment of Dr. Vikas Gupta (DIN: 10704329) as Managing Director and Chief Executive Officer of the Company and approval of his remuneration.
Special
99.71% for0.29% against
Against: promoters 0.00% · institutions 8.48% · other public 0.05%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To consider and approve the adoption of the altered Memorandum of Association of the Company in accordance with the provisions of the Companies Act, 2013.
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.03% · other public 0.05%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To consider and approve the adoption of the altered Articles of Association of the Company in accordance with the provisions of the Companies Act, 2013.
Special
99.05% for0.95% against
Against: promoters 0.00% · institutions 27.76% · other public 0.05%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To consider and approve the change of name of the Company and the consequential alteration of the Memorandum of Association and Articles of Association of the Company.
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To consider and ratify the remuneration payable to M/s. D. C. Dave & Co., Cost Accountants (Firm Registration No. 000611), appointed as the Cost Auditors of the Company pursuant to Section 148 of the Companies Act, 2013 and the rules made thereunder.MoreLess
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To approve the payment of Commission (including sitting fees) to Independent Directors of the Company.
Special
99.71% for0.29% against
Against: promoters 0.00% · institutions 8.48% · other public 0.07%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%
To Approve the Payment of remuneration to Mr. Ashok Bhatia, Non-Executive Director.
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.03% · other public 0.09%
Turnout: all 74.30% · promoters 100.00% · institutions 91.97% · other public 4.07%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 24 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

To receive, consider and adopt the Audited Balance Sheet as on March 31, 2026 and the Statement of Profit and Loss for the financial year ended March 31, 2026, together with the Reports of the Board of Directors and the Auditors thereon.MoreLess
1 for0 against
To regularize the appointment of Mr. Ashok Bhatia (DIN: 02090239), Additional Non-Executive Director, by appointing him as a Non-Executive Director of the Company.
1 for0 against
To regularize the appointment of Mr. Kshitij Sheth (DIN: 00125058) Additional Non-Executive Director, by appointing him as a Non-Executive Director of the Company.
1 for0 against
To regularize the appointment of Dr. Jagriti Gupta (DIN: 11760159) Additional Non-Executive Director, by appointing her as a Non-Executive Director of the Company.
1 for0 against
To regularize the appointment of Mr. Ramesh Ramadurai (DIN: 07109252), Additional Director (Independent Category), by appointing him as an Independent Director of the Company.
1 for0 against
To regularize the appointment of Mr. Shashank Sinha (DIN: 02544431), Additional Director (Independent Category), by appointing him as an Independent Director of the Company
1 for0 against
To regularize the appointment of Ms. Suchita Sharma (DIN: 10656028), Additional Director (Independent Category), by appointing her as an Independent Director of the Company.
1 for0 against
To regularize the appointment of Dr. Vikas Gupta (DIN: 10704329), Additional Director (Executive Category), by appointing him as a Director of the Company.
1 for0 against
To Approve the Employee Stock Option Scheme 2026 ("ESOP 2026")
1 for0 against
To consider and approve the appointment of Dr. Vikas Gupta (DIN: 10704329) as Managing Director and Chief Executive Officer of the Company and approval of his remuneration.
1 for0 against
To consider and approve the adoption of the altered Memorandum of Association of the Company in accordance with the provisions of the Companies Act, 2013.
1 for0 against
To consider and approve the adoption of the altered Articles of Association of the Company in accordance with the provisions of the Companies Act, 2013.
1 for0 against
To consider and approve the change of name of the Company and the consequential alteration of the Memorandum of Association and Articles of Association of the Company.
1 for0 against
To consider and ratify the remuneration payable to M/s. D. C. Dave & Co., Cost Accountants (Firm Registration No. 000611), appointed as the Cost Auditors of the Company pursuant to Section 148 of the Companies Act, 2013 and the rules made thereunder.MoreLess
1 for0 against
To approve the payment of Commission (including sitting fees) to Independent Directors of the Company.
1 for0 against
To Approve the Payment of remuneration to Mr. Ashok Bhatia, Non-Executive Director.
1 for0 against

Mutual fund votes, meeting of 16 May 2026, 2 fund houses

Appointment of Ms. Gowree Gokhale (DIN: 09351661), as a Non-Executive and Independent Director of the Company for a period of 5 (Five) years, shall not be liable to retire by rotation.
Against Bandhan Mutual Fund, Motilal Oswal Mutual Fund
Bandhan Mutual FundCompliant with law. Transparency concern: The service arrangement identified between the Company and the firm where the proposed Independent Director was previously associated prior to her cessation from the firm. There is inadequate information regarding the nature of the services provided and whether these engagements are one-time in nature or part of an ongoing arrangement.
Motilal Oswal Mutual FundInformation required regarding the service arrangement identified between the Company and the firm where proposed ID was interested.
0 for2 against

6 earlier meetings

Mutual fund votes, meeting of 31 Jul 2025, 2 fund houses

Appointment of M K Saraf and Associates LLP, Company Secretaries (Firm Registration No. L2025MH018600 and Peer Review Certificate No. 6694/2025), as the Secretarial Auditors of the Company to hold office for a period of Five (5) consecutive years commencing from April 01, 2025 till March 31, 2030 and including remuneration.MoreLess
2 for0 against
To appoint Mr. Falin Majmudar (DIN: 10681030) as Director, who retires by rotation and being eligible, offers himself for re–appointment.
Against Motilal Oswal Mutual Fund
Motilal Oswal Mutual FundCompliant with law. No concern on merit of appointee. Governance Concern: Holding Combined position of Chairman and Managing Director, which may lead to concentration of powers in the hands of single person.
1 for1 against
To declare final dividend of Rs. 25/– per equity share of the Company of face value Rs. 5/– each for the financial year ended March 31, 2025.
2 for0 against
To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2025, together with the report of the Board of Directors and the Auditors thereon.
2 for0 against

Mutual fund votes, meeting of 15 Jun 2025, 2 fund houses

Re-appointment of Mr. Sanker Parameswaran (DIN: 00008187) as an Independent Non-Executive Director of the Company for a second term of 5 (five) years effective from June 22, 2025 till June 21, 2030, and that he shall not be liable to retire by rotation.MoreLess
2 for0 against
To consider and approve a Related Party Transaction (RPT) between Novartis Pharma AG and Novartis India Limited for the period from April 01, 2025 to March 31, 2030 for an amount not exceeding INR 3000 million per annum provided that the said transactions shall be at arm's Length basis and in the ordinary course of business.MoreLess
2 for0 against

Mutual fund votes, meeting of 31 Jul 2024, 1 fund house

Appointment of Mr. Falin Majmudar (DIN: 10681030) as a Whole-Time Director of the Company, liable to retire by rotation, for a period of 5 (five) years commencing from June 28, 2024 till June 27, 2029 (both days inclusive) and including remuneration.MoreLess
1 for0 against
Appointment of Mr. Falin Majmudar (DIN: 10681030) as the Director of the company, liable to retire by rotation.
1 for0 against
To appoint Ms. Shilpa Joshi (DIN: 09775615) as Director, who retires by rotation and being eligible, offers herself for re-appointment.
1 for0 against
To declare dividend of INR 25/- per equity share of the face value INR 5/- each for the financial year ended March 31, 2024.
1 for0 against
To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended March 31, 2024, together with the Reports of the Board and the Auditors thereon.
1 for0 against

Mutual fund votes, meeting of 21 Mar 2024, 1 fund house

Appointment of Ms. Gira Sardesai (DIN: 02610502) as an Independent Director of the Company for a period of 5 consecutive years till March 30, 2029, and that she shall not be liable to retire by rotation.MoreLess
1 for0 against
Continuation of appointment of Mr. Christopher Snook (DIN: 00369790) as Director (designated as Non-Executive and Non-Independent Director) of the Company for a period of 4 consecutive years with effect from March 31, 2024 till March 30, 2028 and that he shall not be liable to retire by rotation.MoreLess
1 for0 against

Mutual fund votes, meeting of 28 Jul 2023, 1 fund house

To appoint Ms. Shilpa Joshi (DIN: 09775615) as Director, who retires by rotation and being eligible, offers herself for re-appointment.
1 for0 against
To declare final dividend of Rs.10 and a one-time special dividend on occasion of Company’s 75th Anniversary of Rs.37.50 per equity share of the face value Rs.5 each, aggregating to Rs.47.50 per equity share of the face value of Rs.5 each for the financial year ended March 31, 2023.MoreLess
1 for0 against
To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended March 31, 2023, together with the Reports of the Board and the Auditors thereon.
1 for0 against

Mutual fund votes, meeting of 25 Jul 2014, 1 fund house

Appointment of Mr Dinesh Charak (holding DIN 06827519) as Whole Time Director of the Company
1 for0 against
Dr Rajendra Nath Mehrotra be and is hereby appointed as an Independent Director of the Company
Against Bandhan Mutual Fund
Bandhan Mutual FundRajendra Nath Mehrotra has been on the board of the company for the past 14 years. The length of tenure is inversely proportionate to the independence of a director. Due to Rajendra Mehrotra’s long association (>10 years) with the company, he is considered non-independent.
0 for1 against
Increase in the salary payable to Mr Ranjit Shahani, Vice Chairman and Managing Director (holding DIN 00103845) from Rs. 8,740,000 per annum to Rs. 10,250,000 per annum
Against Bandhan Mutual Fund
Bandhan Mutual FundThe company proposes to increase the salary of Ranjit Shahani from Rs. 8.74 mn p.a. to Rs. 10.25 mn p.a. The increment will be of 17.3%. The company proposes to increase the salary of Ranjit Shahani from 1 October 2013 instead of 1 April 2014; hence the company is seeking shareholders’ approval. We are not in favour of hike in the remuneration when the performance of the company has been deteriorating
0 for1 against
M/s N. I. Mehta and Co., Cost Accountants (Firm Registration No. 102055) appointed as Cost Auditors by the Board of Directors of the Company
1 for0 against
Mr Dinesh Charak, be and is hereby appointed as a Director of the Company, whose term of office shall be liable to retire by rotation
1 for0 against
Mr Jai Hiremath be and is hereby appointed as an Independent Director of the Company
1 for0 against
Ms Manisha Girotra be and is hereby appointed as an Independent Director of the Company
1 for0 against
To appoint Mr Ranjit Shahani (holding DIN 00103845) as Director, who retires by rotation and being eligible, offers himself for re-appointment
1 for0 against
To declare dividend for the year ended March 31, 2014
1 for0 against
To re-appoint the Auditors M/s Lovelock and Lewes and to fix their remuneration
Against Bandhan Mutual Fund
Bandhan Mutual FundNovartis India Ltd (Novartis India) proposes to reappoint Lovelock & Lewes as statutory auditors: Lovelock and Lewes is part of the PwC audit network. Prior to appointing Lovelock and Lewes, the company’s auditors were Price Waterhouse: they are also part of the PwC audit network. Therefore, audit firms belonging to the PwC network have been Novartis India’s statutory auditors for the past 12 years. The reappointment is not in line with the spirit of section 139 of the Companies Act 2013
0 for1 against
To receive, consider and adopt the Audited Profit and Loss Account for the year ended March 31, 2014 and the Balance Sheet as on that date together with the Reports of the Directors and the Auditors thereonMoreLess
0 for0 against
1 abstained

Each fund house counted once, from its own disclosure; the reasons are its own words.

Dealings with its subsidiaries, promoters, directors and their firms, reported every half-year.Promoters and their stake

Half-year to Mar 2026: ₹70 Cr17 dealings
Half-year to Sep 2025: ₹58 Cr12 dealings
Half-year to Mar 2025: ₹63 Cr16 dealings
Half-year to Sep 2024: ₹35 Cr14 dealings
Half-year to Mar 2024: ₹48 Cr15 dealings
Half-year to Sep 2023: ₹127 Cr11 dealings

Between	Dealing
Novartis India Limited and Novartis Pharma AGFellow Subsidiary	Purchase of goods or services	300.00	61.57	15.01	29.33
Novartis India Limited and Novartis Healthcare Private LimitedFellow Subsidiary	Purchase of goods or services	6.00	2.70	0.51	0.51
Novartis India Limited and Novartis Healthcare Private LimitedFellow Subsidiary	Any other transactionBusiness Support Services	3.73	1.61	0.31	0.31
Novartis India Limited and Novartis AGHolding Company	Any other transactionRoyalty expenses	4.43	1.22	1.22	1.09
Novartis India Limited and Novartis Healthcare Private LimitedFellow Subsidiary	Purchase of goods or services	3.00	1.21	0.23	0.18
Novartis India Limited and Novartis India Limited Employees' Provident FundFellow Subsidiary	Any other transactionContribution to In-house Trust for Post Employment Benefits	12.00	0.67	0.00	0.00
Novartis India Limited and Novartis Healthcare Private LimitedFellow Subsidiary	Sale of goods or services	1.10	0.45	0.08	0.08
Novartis India Limited and Novartis-Mitarbeiterbeteiligungsstiftung (MBS)Fellow Subsidiary	Any other transactionPurchase of shares	1.00	0.31	0.17	0.35
Novartis India Limited and Mr. Sanker ParameswaranIndependent Director	Any other transactionCommission Income	0.10	0.10	0.00	0.00
Novartis India Limited and Ms. Gira SardesaiIndependent Director	Any other transactionCommission Income	0.10	0.10	0.00	0.00
Novartis India Limited and Ms. Sandra MartyresIndependent Director	Any other transactionCommission Income	0.10	0.10	0.00	0.00
Novartis India Limited and Novartis Healthcare Private LimitedFellow Subsidiary	Any other transactionexpenses recharged to	0.09	0.09	0.00	0.00
Novartis India Limited and Novartis India Limited Gratuity fundFellow Subsidiary	Any other transactionContribution to In-house Trust for In house Gratuity fund	2.30	0.09	0.00	0.00
Novartis India Limited and Ms. Gira SardesaiIndependent Director	Any other transactionSitting fees	0.05	0.03	0.00	0.00
Novartis India Limited and Mr. Sanker ParameswaranIndependent Director	Any other transactionSitting fees	0.05	0.03	0.00	0.00
Novartis India Limited and Ms. Sandra MartyresIndependent Director	Any other transactionSitting fees	0.05	0.03	0.00	0.00
Novartis India Limited and Novartis Healthcare Private LimitedFellow Subsidiary	Any other transactionCommission Income	0.10	₹60,000	0.02	0.00

The 17 largest of 17 dealings in the half-year to Mar 2026, ₹ crore.

Fines and tax disputes

Reported in the filing for the quarter to Jun 2026.

Fine or penaltyAssistant Commissioner of State Tax, OrissaSince 30 Dec 2024
Assessment Order
Penalty u/s 125 of GST Act - Penalty Procedural lapses
Fine or penaltyAssistant Commissioner of CGST & Central ExciseSince 18 Feb 2025
Order for Service Tax demand and penalty for the period October 01, 2014 to June 30, 2017
Penalty raised u/s 78 of Finance Tax 1994 read with Rule 15 of Cenvat Credit Rules 2004 -Penalty for Non-Reversal of Common Input Tax Credit on sale of business on going concern basis.
Fine or penaltyDeputy Commissioner (Arrear Recovery) Office of Joint Commissioner, Tax Payer Services, ErnakulamSince 22 Apr 2025
Settlement Order. Order No. AM3209241375895 dt. 27-03-2025 for FY 2006-07
There is no Penalty levied in this order. Tax demand is raised on the grounds of Pending Declaration Forms and Tax on PAP Free goods supplies
Fine or penaltyDeputy Commissioner (Arrear Recovery) Office of Joint Commissioner, Tax Payer Services, ErnakulamSince 22 Apr 2025
Settlement Order. Order No. AM3209242182504 dt. 27-03-2025 for FY 2007-08
There is no Penalty levied in this order. Tax demand is raised on the grounds of Pending Declaration Forms
Fine or penaltyDeputy Commissioner (Arrear Recovery)Tax Payer Services, ErnakulamSince 8 May 2025
Settlement Order. No. CERT3204254110626 dt. 29-04-2025 for FY 2009-10
There is no Penalty levied in this order. Tax demand is raised on the grounds of Pending Declaration Forms and enhancement of turnover due to return mismatches
Fine or penaltyAssistant Commissioner of State TaxSince 2 Jun 2025
Chattisgarh Goods and Services Tax Settlement Order. No. ZD220525020547N dt. 28-05-2025 for FY 2019-20
Penalty u/s 73(9) of GST Act Rs. 44,197 - Penalty raised for disallowance of Credit Notes and difference between GSTR 1 vs GSTR 3B Tax comparison
Fine or penaltyExcise & Taxation Officer cum Designated OfficerSince 13 Jun 2025
Chandigarh VAT Act 2005 Order No 400 dt. 20-11-2024 for FY 2017-18(Qtr1)
Penalty u/s 60 of VAT Act Rs. 5,001 - General Penalty raised for contravention of provision under VAT Act
Fine or penaltyExcise & Taxation Officer cum Designated OfficerSince 13 Jun 2025
Section 9(2) of Central Sales Tax Act, 1956 read with Chandigarh VAT Act 2005 Order No. 400 dt. 20-11-2024 FY 2017-18 (Qtr1)
Penalty u/s 9(2) r/w Section 53 of VAT Act Rs. 70,986- Penalty raised on pending declaration forms.

9 more

Fine or penaltyAssistant Commissioner of Central TaxSince 23 Jun 2025
Uttar Pradesh Goods and Services Tax Settlement Order. No. ZD0906251422890 dt. 18-06-2025 for FY 2017-18 (July'17 to March'18)
Penalty u/s 73(9) of GST Act Rs. 4,81,634 - Penalty raised for disallowance of Transitional Credit
Fine or penaltyJoint Commissioner of Central Tax (Appeals)Since 6 Aug 2025
Tamil Nadu Goods and Services Tax Act 2017 Order in Appal No. 276/2025 dt. 28.07.2025 for period FY 2017-18 to FY 2021-22
Appeal order passed granting relief of Rs.1,08,68,330 and confirming demand on Input Tax Credit not matched with suppliers Details and Non Reversal of Input Tax Credit on Credit notes issued by Supplier. Penalty u/s 73(9) of GST Act leviedMoreLess
Fine or penaltyDeputy Commissioner of State TaxesSince 2 Dec 2025
Maharashtra Goods and Services Tax Act 2017 Order No. ZD2712250089591 dt. 02.12.2025 for period FY 2021-22
Penalty u/s 73(9) of GST Act Rs. 40,000 - Penalty raised for short payment of Liability under Reverse Charge based on details furnished by supplier and appearing in GSTR 2A of Novartis
Fine or penaltyAETO (Enforcement) GurgaonSince 19 Feb 2026
Haryana Goods and Services Tax Act, 2017 Order Ref. No.070048 (GST MOV-02) dt. 19-02-2026 for Physical Verification of Conveyance, Goods and Documents
Contravention of provision of Section 68 of CGST Act 2017 for Invalid E-waybill (without Part B details) carried by transporter leading to Detention of vehicle carrying stock of Novartis goods.
Fine or penaltyDeputy Commissioner of State TaxSince 18 Mar 2026
Uttar Pradesh Value Added Tax Act, 2008 Order No. 25906944400001 dt. 28-02-2026 for FY 2011-12
Order passed u/s -28(2)(i)of VAT Act. Issue involved were Tax Demand on Enhancement in Turnover, Tax on free supply under Bonus Schemes, Disallowance of Sales Returns
Fine or penaltyDeputy Commissioner of State TaxSince 29 Mar 2026
Petition filed to direct the respondents (Commissioner of Trade and Taxes, New Delhi) to complete the proceedings initiated for FY 2013-14 within the prescribed time
There are violations / contraventions on part of company. The said order has been passed for admission of the petition filed by the company against aforesaid respondents to complete the proceedings initiated for FY 2013-14 within the prescribed time which will result into a refund of INR 54.45 LacsMoreLess
Fine or penaltyMaharashtra Sales Tax TribunalSince 28 Apr 2026
Reference Application filed by Tax Department for FY 2002-03 under Bombay Sales Tax Act and Central Sales Tax Act allowed vide Order Ref. No B.No. 415 dt. 17.04.2026
Tax Department has filed reference application to seek consent of the Tribunal to file appeal against the Hon'ble Bombay High Court against the favourable order passed by the Tribunal
Tax disputeAssistant Commissioner of CGST & Central ExciseSince 9 Apr 2025
Order received from Commissioner Appeals-II CGST & CX, Mumbai dated 12.11.2025 received on 24.11.2025. The Company has filed appeal in Appellate Tribunal to challenge the demand.
At the filing before: Penalty raised u/s 78 of Finance Tax 1994 read with Rule 15 of Cenvat Credit Rules 2004 -Penalty for Non-Reversal of Common Input Tax Credit on sale of business on going concern basis.
Tax disputeDeputy Commissioner of State TaxSince 16 Apr 2025
We have filed appeal against the disputed Tax demand.
At the filing before: Uttar Pradesh Value Added Tax Act 2008 Order No. 24916944400005 dt. 29.03.2025 for FY 2009-10.There is no Interest and Penalty levied in order. Tax demand levied is Rs. 21,64,813 for trading account loss.Tax Rs - 21,64,813MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

Received
Resolved

Open at the quarter's end

At most 3 complaints open, quarter to Sep 2025.

The board is made up as the listing rules require: Yes
The board has a regular chairperson: Yes
The company has a risk management committee: Yes
The chair is related to the managing director: No
The filing has a part on fines and penalties: Yes
The filing has a part on tax disputes: Yes
There was a cyber security incident in the quarter: No

The company's own answers in its filing.