Outcome of the Board Meeting held on Tuesday, May 12, 2026 to approve the Audited Financial Results for the Quarter and the Financial year ended March 31, 2026.
NOVARTIND · price
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Novartis India reported FY2026 revenue from operations of ₹3,543.3 million, marginally lower than the previous year's ₹3,562.7 million. Profit after tax declined 7.6% to ₹931.8 million from ₹1,009.0 million, driven by higher tax expenses (₹364.8 million vs ₹295.2 million). Other income also decreased to ₹387.7 million from ₹419.6 million. The Board recommended nil dividend compared to ₹25 per share previously. The audit report was issued with an unmodified (clean) opinion by BSR & Co. LLP. A significant corporate development announced: Novartis AG has agreed to sell its 70.68% stake to WaveRise Investments, ChrysCapital Fund X, and Two Infinity Partners, triggering an open offer.
PAT decline of 7.6% and nil dividend signal financial headwinds. However, clean audit and strong cash position (₹525 million cash + ₹6,152 million bank deposits) provide comfort. The impending change of control via majority stake sale introduces strategic uncertainty.