Outcome of Board Meeting

SPARC/Sec/SE/2026-27/45 November 02, 2026 National Stock Exchange of India Ltd., BSE Limited, Exchange Plaza, 5th Floor, Market Operations Dept. Plot No. C/1, G Block, P. J. Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 051. Mumbai - 400 001. Scrip Symbol: SPARC Scrip Code: 532872 Dear Sir/ Madam, Sub: Outcome of the Board Meeting held today i.e. on November 02, 2026 Pursuant to Regulation 30 and Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), this is to inform that the Board of Directors of the Company, at its meeting held today, i.e., November 02, 2026, which commenced at 05:45 P.M. (IST) and concluded at 07:00 P.M. (IST), has inter alia considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026. The said financial results, along with the Limited Review Report issued by the Statutory Auditors of the Company, are enclosed herewith as Annexure A. This is for your information and dissemination. For Sun Pharma Advanced Research Company Limited. Kajal Damania Company Secretary and Compliance Officer Encl: As above Ground floor, Tower C Unit 1, Panchshil Tech Park One, Loop road, Near Don Bosco School, Yerwada Pune - 411 006, India Tel: +91 20 6603 6000 Sun Pharma Advanced Research Company Limited Regd. Office: Plot No. 5 & 6/1, Savli, G. I. D. C. Estate, Savli - Vadodara Highway, Manjusar, Vadodara – 391 775. Tel. : +91-2667 666800 CIN : L73100GJ2006PLC047837. Website : www.sparc.life Statement of Unaudited Standalone Financial Results for the Quarter and Half Year Ended September 30, 2026 in Lakhs Quarter ended Half Year ended Year ended Particulars 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Revenue from operations Revenue from contracts with customers (Refer Note 3) 3,003 3,992 786 6,995 1,750 3,915 Other operating revenue (Refer Note 4) - - - - - 1,84,002 Total revenue from operations 3,003 3,992 786 6,995 1,750 1,87,917 Other income 2,362 2,366 1 4,728 903 1,083 Total income 5,365 6,358 787 11,723 2,653 1,89,000 Expenses Cost of materials consumed 995 766 610 1,761 1,123 2,360 Employee benefits expense 2,389 2,416 2,619 4,805 5,387 10,185 Clinical trial expenses / products development expenses 925 1,326 801 2,251 1,355 2,266 Professional charges 2,138 2,124 2,242 4,262 3,678 8,753 Finance costs 12 813 752 825 1,370 3,412 Depreciation and amortisation expense 220 220 257 440 511 1,007 Other expenses 1,144 791 1,103 1,935 2,029 4,568 Total expenses 7,823 8,456 8,384 16,279 15,453 32,551 Profit / (loss) before exceptional item and tax (2,458) (2,098) (7,597) (4,556) (12,800) 1,56,449 Exceptional item (Refer Note 2) - - - - - 1,236 Profit / (loss) before tax (2,458) (2,098) (7,597) (4,556) (12,800) 1,55,213 Tax expense - - - - - - Profit / (loss) for the period (2,458) (2,098) (7,597) (4,556) (12,800) 1,55,213 Other comprehensive income (OCI) Items that will not be reclassified to profit or loss (net actuarial gain / (164) - (7) (164) (13) 207 (loss) on employee defined benefit plan) Total comprehensive profit / (loss) for the period (2,622) (2,098) (7,604) (4,720) (12,813) 1,55,420 Paid-up equity share capital (Face value 1 each) 3,245 3,245 3,245 3,245 3,245 3,245 Other equity 1,30,113 Basic and diluted earnings / (loss) per equity share of 1 each (0.76) (0.65) ( 2.34) ( 1.40) ( 3.94) 47.83 Not annualised Not annualised Not annualised Not annualised Not annualised Annualised See accompanying notes to the unaudited standalone financial results Notes : 1 TheaboveunauditedstandalonefinancialresultsofSunPharmaAdvancedResearchCompanyLimited(the'Company')havebeenpreparedinaccordancewiththeCompanies (IndianAccountingStandards)Rules,2015(IndAS)asamended,prescribedundersection133oftheCompaniesAct,2013,readwithrelevantrulesissuedthereunderandasperthe Regulation33oftheSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015,asamendedandhavebeentakenonrecordbytheBoardofDirectorsatitsmeeting held on November 2, 2026 after being reviewed by the Audit Committee. 2 TheGovernmentofIndiahadconsolidated29existinglabourlegislationsintoaunifiedframeworkcomprisingfourlabourcodesasfollows:CodeonWages,2019,CodeonSocial Security,2020,IndustrialRelationsCode,2020andOccupationalSafety,HealthandWorkingConditionsCode,2020(collectivelyreferredtoasthe"NewLabourCodes").TheNew LabourCodeswereeffectivefromNovember21,2025andintroducedchangesthatincluded,amongotherthings,settingauniformdefinitionofwages.TheNewLabourCodeshad implications on employee benefits including gratuity, leave encashment, and other related obligations. TheCompanyhadassessedtheimplicationsoftheNewLabourCodesandhadrecognizedanincrementalcostof₹1,236lakhsduringthepreviousyearanddiscloseditasan exceptional item. 3 DuringthequarterendedJune30,2026,theCompanyandCMSBridgingDMCC("CMS")mutuallyagreedtoterminatethelicensingagreementdatedNovember5,2019.Pursuantto thistermination,theCompanyrefundedUSD2million(₹1,889lakhs)toCMSandrecognisedrevenueof₹2,921lakhsrelatingtothenon-refundableconsiderationintheprevious quarter. 4 During the previous year, the Company recognised income of 184,002 lakhs in respect of a Priority Review Voucher (PRV) granted by the United States Food and Drug Administration (USFDA) on February 03, 2026 for Sezaby®. The PRV, being a transferable instrument, was sold by the Company on April 30, 2026 for USD 195 million. The PRV was accounted as a non-monetary government grant under Ind AS 20 and the fair value of the PRV was recognised in the Statement of Profit and Loss. 5 OnMay19,2026,theCompanyallotted3,85,10,000warrants,eachconvertibleintooneequityshare,onpreferentialbasistoShanghviFinancePrivateLimitedatanissuepriceof ₹155.80/-each,uponreceiptof25%oftheissueprice(i.e.₹38.95perwarrant)aswarrantsubscriptionmoney.Balance75%oftheissueprice(i.e.₹116.85perwarrant)shallbe payablewithin18monthsfromtheallotmentdate,atthetimeofexercisingtheoptiontoapplyforfullypaid–upequityshareof₹1/-eachoftheCompany,againsteachwarrantheldby the warrant holder. 6 The Company has only one reportable business segment namely 'Pharmaceutical Research and Development'. For and on behalf of the Board Dilip S. Shanghvi Mumbai, November 2, 2026 Chairman Sun Pharma Advanced Research Company Limited Regd. Office: Plot No. 5 & 6/1, Savli, G. I. D. C. Estate, Savli - Vadodara Highway, Manjusar, Vadodara – 391 775. Tel. : +91-2667 666800 CIN : L73100GJ2006PLC047837. Website : www.sparc.life Unaudited Standalone Balance Sheet as at September 30, 2026 As at As at Particulars 30.09.2026 31.03.2026 Unaudited Audited (A) Non-current assets (a) Property, plant and equipment 8,189 8,518 (b) Capital work-in-progress 257 50 (c) Intangible assets 11 13 (d) Intangible assets under development 7,121 7,121 (e) Financial assets (i) Investment in subsidiaries 43 43 (ii) Other financial assets 2,919 2,874 (f) Deferred tax assets (net) - - (g) Income tax assets (net) 3,117 2,932 (h) Other non-current assets 6,490 9,109 Total non-current assets (A) 28,147 30,660 (B) Current assets (a) Financial assets ( i) Investments 23,903 - ( ii) Trade receivables 2,130 827 (iii) Cash and cash equivalents 203 32 (iv) Bank balances other than (iii) above 1,05,634 - (v) Loans 21 17 (vi) Other financial assets 6,575 142 (b) Income tax assets (net) - 545 (c) Other current assets 466 1,84,575 Total current assets (B) 1,38,932 1,86,138 TOTAL ASSETS 1,67,079 2,16,798 EQUITY AND LIABILITIES Equity (a) Equity share capital 3,245 3,245 (b) Other equity 1 ,40,393 1 ,30,113 Total equity 1,43,638 1,33,358 Liabilities (A) Non-current liabilities (a) F inancial liabilities (i) Lease liabilities 85 166 (ii) Other financial liabilities 295 98 (b) Provisions 1,217 1,234 (c) Other non-current liabilities 3,338 6,260 Total non-current liabilities (A) 4,935 7,758 (B) Current li [Showing first 8,000 characters — download PDF for full document]