Annual Report of Novartis India Limited for FY 2025-26

Novartis India Limited Date: - September 0 2, 2026. The Secretary BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Scrip Code: 500672 Sub.: Annual Report for the financial year 2025 -26 and Notice convening the 78th Annual General Meeting of Novartis India Limited (“The Company”). Dear Sir/ Madam, This is in reference to our disclosure dated August 17, 2026 and August 28, 2026 wherein we had informed that the 78th Annual General Meeting (‘AGM’) of the Company is scheduled to be held on Thursday, September 24, 2026, at 11:00 A.M. (IST) through Video Conferencing (‘VC’) / Other Audio -Visual Means (‘OAVM’) in compliance with the r elevant Circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI) from time to time. In terms of the requirements of Regulations 30 and 34(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith the Annual Report for the financial year 2025 -26 along with the Notice of 78th AGM of the Compan y, which is also being sent to the Members through an electronic mode. The Annual Report for the financial year 2025 -26 containing the Notice of 78th AGM of the Company is also available on the website of the Company at;- https://nilpharma.co.in/pdfs/investors/agm/Novartis%20Annual%20Report_2026.pdf Further, in terms of Section 108 of the Companies Act, 2013 read Rule 20 of the Companies (Management and Administration) Rules, 2014, as amended, and Regulation 44 of the SEBI Listing Regulations, the remote e -voting period will commence from Monday, Sept ember 21, 2026, at 9:00 A.M. (IST) and will end on Wednesday, September 23, 2026, at 5:00 P.M. (IST). During this period, the members of the Company holding shares either in physical form or in dematerialized form, as on the cut -off date, i.e. Thursday , September 17, 2026, may cast their vote by remote e -voting. Members attending the AGM who could not cast their vote by remote e -voting shall be eligible to cast their vote through e -voting during the AGM. Registered Office: Inspire BKC, 7th Floor, Bandra -Kurla Complex, Bandra (East) , Mumbai - 400051, Maharashtra, India . CIN: L24200MH1947PLC006104 | T el: +91 22 50243000 Email: investor.relations@nilpharma.co .in | W ebsite: www.nilpharma.co.in Novartis India Limited You are requested to take the above information on record. Thanking you Yours sincerely, For Novartis India Limited Chandni Maru Company Secretary and Compliance Officer M.No -ACS 60291 Encl.: as above Registered Office: Inspire BKC, 7th Floor, Bandra -Kurla Complex, Bandra (East) , Mumbai - 400051, Maharashtra, India . CIN: L24200MH1947PLC006104 | T el: +91 22 50243000 Email: investor.relations@nilpharma.co .in | W ebsite: www.nilpharma.co.in (cid:9)(cid:22)(cid:8)(cid:7)(cid:6)(cid:5)(cid:4)(cid:14)(cid:24)(cid:4)(cid:9)(cid:3)(cid:4)(cid:7)(cid:24)(cid:20)(cid:4)(cid:2)(cid:4)(cid:5)(cid:1)(cid:3) (cid:7)(cid:26)(cid:26)(cid:30)(cid:18)(cid:28)(cid:24)(cid:6)(cid:19)(cid:12)(cid:23)(cid:21)(cid:10)(cid:24)(cid:127)(cid:129)(cid:127)(cid:141)(cid:143)(cid:127)(cid:144) (cid:31)(cid:30)(cid:29)(cid:28)(cid:27)(cid:29)(cid:26)(cid:25)(cid:24)(cid:23)(cid:26)(cid:24)(cid:22)(cid:30)(cid:21)(cid:24)(cid:20)(cid:19)(cid:25)(cid:18)(cid:17)(cid:16)(cid:15) (cid:14)(cid:13)(cid:18)(cid:12)(cid:29)(cid:26)(cid:25)(cid:24)(cid:22)(cid:30)(cid:21)(cid:24)(cid:11)(cid:30)(cid:10)(cid:30)(cid:21)(cid:19)(cid:15) (cid:7)(cid:24)(cid:5)(cid:21)(cid:30)(cid:157)(cid:10)(cid:19)(cid:27)(cid:24)(cid:20)(cid:19)(cid:25)(cid:18)(cid:17)(cid:16) (cid:4)(cid:26)(cid:26)(cid:23) (cid:18)(cid:10)(cid:29)(cid:26)(cid:25)(cid:24)€(cid:23)(cid:21) ƒ(cid:21)(cid:19)(cid:18)(cid:10)(cid:29)(cid:26)(cid:25)(cid:24)(cid:8)(cid:18)(cid:28)(cid:30)(cid:19) (cid:29)(cid:26)(cid:24) (cid:19)(cid:18)(cid:28)(cid:10)(cid:13)(cid:17)(cid:18)(cid:21)(cid:19) (cid:31)(cid:19)(cid:10)(cid:10)(cid:19)(cid:21)(cid:24)(cid:22)(cid:30)(cid:10)(cid:17)(cid:23)‚(cid:19)(cid:157) €(cid:23)(cid:21)(cid:24)(cid:5)(cid:23)‚(cid:23)(cid:21)(cid:21)(cid:23)„ Contents 02 143 Letter from the Managing Director and CEO Independent Auditors’ Report 08 156 Disclaimer Balance Sheet 09 157 Notice Profit and Loss Account 52 159 Board’s Report Cash Flow Statement 80 161 Report on Corporate Governance Notes forming part of the Financial Statements 106 IBC Certificate on Corporate Governance Financial Summary of 10 years Business Responsibility and Sustainability Report BOARD OF DIRECTORS AUDITORS Mr. Ramesh Ramadurai M/s. B S R & Co., LLP Chairperson and Non-executive Independent Director Statutory Auditors (appointed w.e.f. July 29, 2026) M/s. M K Saraf & Associates Dr. Vikas Gupta Secretarial Auditors Managing Director and Chief Executive Officer CORPORATE INFORMATION (appointed w.e.f. July 29, 2026) Mr. Shashank Sinha CIN Non-executive Independent Director L24200MH1947PLC006104 (appointed w.e.f. July 29, 2026) Registered Office Ms. Suchita Sharma Non-executive Independent Director Inspire - BKC, 7th Floor, Bandra Kurla Complex, (appointed w.e.f. July 29, 2026) Bandra East Mumbai 400 051 Mr. Ashok Bhatia Telephone No.: +91 22 5024 3000 Non-executive and Non-Independent Director E-mail: investor.relations@nilpharma.co.in (appointed w.e.f. July 29, 2026) Website: https://nilpharma.co.in/ Mr. Kshitij Sheth Non-executive and Non-Independent Director REGISTRAR TO AN ISSUE AND SHARE (appointed w.e.f. July 29, 2026) TRANSFER AGENT (RTA) Dr. Jagriti Gupta MUFG Intime India Private Limited Non-executive and Non-Independent Director (formerly known as Link Intime India Private Limited) (appointed w.e.f. July 29, 2026) Mr. Christopher Snook C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400 083 Chairperson (ceased w.e.f. July 29, 2026) Ms. Gira Sardesai Telephone No.: +91 22 4918 6000 Independent Director (ceased w.e.f. July 29, 2026) Fax: +91 22 4918 6060 Mr. Sanker Parameswaran E-mail: rnt.helpdesk@in.mpms.mufg.com Independent Director (ceased w.e.f. July 29, 2026) ANNUAL GENERAL MEETING Ms. Sandra Martyres Independent Director (ceased w.e.f. April 18, 2026) 11.00 A.M. Thursday, September 24, 2026 Ms. Gowree Gokhale For detailed instructions to join the AGM through Independent Director (ceased w.e.f. July 29, 2026) Video Conference (VC) / Other Audio-Visual Ms. Shilpa Joshi Means (OAVM) and the procedure to raise Whole-Time Director and Chief Financial Officer questions / seek clarifications with respect to the (ceased w.e.f. July 29, 2026) Annual Report, please refer Note No. 5 and 6 on Mr. Falin Majmudar Page No. 28 of this Report. Whole-Time Director (ceased w.e.f. July 29, 2026) Members are requested to join the virtual AGM by KEY MANAGERIAL PERSONNEL 10:45 A.M. Please keep a soft copy of the Annual Report handy during the meeting proceedings. Mr. Bhagwat Singh Deora Members who wish to speak at the AGM are Chief Financial Officer (appointed w.e.f. July 29, 2026) requested to write to the Company in advance at Ms. Chandni Maru investor.relations@nilpharma.co.in Company Secretary and Compliance Officer Message from the Managing Director and Chief Executive Officer A new chapter, grounded in strength We scale our commercial engagement, we remain equally committed to a culture of compliance in medico-marketing, because ethical engagement with healthcare professionals has always been the foundation of the trust this Company depends on. Dear Shareholders, THE MARKET OPPORTUNITY It gives me great pleasure to write to you for the India’s pharmaceutical market continues to expand first time as Managing Director and Chief Executive on strong structural drivers: rising incidence of Officer of Novartis India Limited (NIL), at an chronic and lifestyle-linked disease, expanding important inflection point in the Company's journey. health insurance coverage, and improving healthcare NIL enters this new chapter with a strong foundation access outside metro geographies. Branded — a portfolio of trusted brands built ov [Showing first 8,000 characters — download PDF for full document]