Novartis India Ltd — Important, 24-11-2025: Company Update

Novartis India has received an order from an appellate authority, confirming a demand for Service Tax of INR 0.15 Cr for the financial year 2014-15, along with a penalty of INR 0.15 Cr, totaling INR 0.30 Cr. This demand arises from an alleged issue concerning the non-reversal of common input tax credit during a past business sale. Interest on the amount is yet to be quantified. The company is evaluating its options and plans to appeal this order. Shareholders should be aware of this potential financial obligation, which the company intends to contest.