Cipla Ltd
🚀 Cipla FY26: ₹28,163 Cr Revenue | $780M North America Growth | Sustainability Gains 🌱
- Cipla Limited announces its 90th Annual General Meeting (AGM) to be held on Thursday, 25th June, 2026, at 2:00 p.m. (IST) via Video Conferencing (VC).
- The AGM Notice and Integrated Annual Report for FY 2025-26 are available on the company's website at https://www.cipla.com/investors/annual-reports.
- E-voting facility is provided for shareholders to vote on resolutions. Remote e-voting starts on Sunday, 21st June, 2026, at 9:00 a.m. IST and ends on Wednesday, 24th June, 2026, at 5:00 p.m. IST.
- Shareholders whose names appear in the Register of Members as of Thursday, 18th June, 2026, are eligible to vote.
- Key resolutions include adoption of audited standalone and consolidated financial statements for FY 2025-26, declaration of a final dividend of ₹13 per equity share (650% on face value of ₹2), re-appointment of Mr. Adil Zainulbhai as a director, and appointment of M/s B S R & Co. LLP as Statutory Auditor for five years.
- Ratification of remuneration for the Cost Auditor for FY 2026-27 at ₹12,50,000 plus applicable taxes.
- Shareholders holding physical shares are advised to dematerialize them. SEBI has mandated dematerialized issuance for investor service requests.
- Special window for re-lodgement of transfer and dematerialisation of physical shares is open from 5th February, 2026, to 4th February, 2027.
- Dividend will be paid to shareholders as of the record date, Friday, 5th June, 2026. Unclaimed dividends for seven years will be transferred to the Investor Education and Protection Fund (IEPF).
- TDS on dividend: 10% for resident shareholders (if dividend exceeds ₹10,000), 20% for non-resident shareholders. Lower rates may apply based on declarations or tax treaties.
- Live webcast of the AGM proceedings will be available at https://evoting.nsdl.com.
- Instructions for attending the AGM via VC and voting electronically are detailed, including login methods for demat and physical shareholders.
- Helpdesk support provided for technical issues during e-voting.
- Agenda for the 90th Annual General Meeting (AGM) to be held on 25th June 2026
- Cut-off date for e-voting eligibility is 18th June 2026
- Standalone and consolidated financial statements for the financial year ended 31st March 2026 to be adopted
- Final dividend of ₹13 per equity share (650% on face value of ₹2) recommended by the Board
- Record date for dividend payment set as 5th June 2026
- Re-appointment of Mr Adil Zainulbhai as Non-Executive Director
- Appointment of M/s B S R & Co. LLP as new statutory auditors for 5 years at a remuneration of ₹3,15,00,000 plus applicable taxes for FY2027
- Re-appointment of M/s Joshi Apte & Associates as Cost Auditor for FY2027 at a remuneration of ₹12,50,000 plus applicable taxes
- Financial highlights for FY2026: Revenue of ₹28,163 crores, Net Profit of ₹3,879 crores
- Cipla's global footprint spans 69 markets with 48 manufacturing sites producing 1,500+ products
- Key leadership transitions: Mr Achin Gupta appointed as MD & Global CEO, Mr P R Ramesh as Vice-Chairman
- 90th year milestones include commemorative stamp by Indian government and Amar Chitra Katha partnership
- Sustainability achievements: 82% reduction in Scope 1 & 2 emissions, 84% renewable electricity usage
- Strategic focus areas: Respiratory leadership in US (gVentolin, gSymbicort, gAdvair), India brand growth (33 ₹100 crore+ brands)
- North America revenue at USD 780 million with 1.57% US generics market share
- Featured in Leadership category on Indian Corporate Governance Scorecard 2025 by Institutional Investor Advisory Services
- Goa sites awarded Gold for National Award for Manufacturing Competitiveness for FY 2024-25 by International Research Institute for Manufacturing
- AmbitionBox Employee Choice Awards 2025 for Top Rated Large Company and Top Rated Pharma Company
- Gold Shield in Large Manufacturing and Trading Sector by ICAI Awards for Excellence in Financial Reporting 2024-25
- Gold in 'Outstanding Achievement in Environment Management Pharmaceutical Sector' and Platinum in 'Outstanding Achievement in Water Management Pharmaceutical Sector' at 10th Annual Grow Care India EHS & Excellence Awards
- Recognition for 'Breathefree' campaign in Top Healthcare Awareness Campaign at 16th Elets Healthcare Innovation Awards 2025
- Certified as Great Place to Work for eighth year in a row by Great Place to Work Institute, India - January 2026 to January 2027
- Recognition of Cipla's Global Supply Chain at Institute of Supply Chain Management (ISCM) Pharma
- Pink of Health initiative recognized at ET Digiplus Awards 2025
- Digital Innovation in Operations Award at 7th Edition - Future of Manufacturing Summit & Awards 2026
- Excellence in R&D at CPHI India Pharma Awards 2025
- Seven Star Platinum HSE Award by Safety Council of Madhya Pradesh
- Cipla OneAfrica's Distribution Gateway (CDG) received Zero Waste to Landfill (ZWTL)/ Net Zero waste certification by Green Building Council of South Africa (GBCSA)
- Safe India Hero Plus Award 2025 for excellence in Fire safety measures by Department of Fire & Emergency Services, Goa
- Champion of Quality Award for participation in USP's standards by US Pharmacopeia (USP)
- Outstanding Pharma Project Culture (Organization) at 9th Annual Pharma Project Portfolio Management 2026 Awards
- Winner for Sustainable Manufacturing Award at Global Manufacturing Leadership Awards 2026
- Tuffies - Helping Kids of India Breathefree campaign recognized at ET Trendies Awards 2025
- Financial highlights: Revenue: J 28,163 crores; EBITDA: J 5,925 crores; PAT: J 3,879 crores; Return on Equity: 11.8%; Diluted EPS: J 48
- Manufactured Capital: Annual production of 25 billion tablets and capsules, 569 million respules, 0.15 million Lyophilised injections, 46.5 million oral liquids, 45.3 million nasal sprays, 150.3 million Aerosol pMDI, 3.4 million dry powder inhalers, 792 tonnes API
- Intellectual Capital: Launched 166 products globally; 281 patents as on 31st March 2026; Filed 2,824 cumulative DMFs and 285 cumulative ANDAs & NDAs; 8 completed clinical trials
- Human Capital: 31,000+ permanent employees and workers across 18 countries and six continents; 15.85 lac+ total training hours; 16.85% women in workforce
- Social & Relationship Capital: J 103.76 crores spent on CSR; 2.55 lac+ people impacted through social impact initiatives; 65,000+ patients served through palliative care partnerships
- Natural Capital: J 5.54 crores invested in energy efficiency initiatives; 84% renewable electricity used; 67% of manufacturing sites are zero liquid discharge; 100% Zero Waste to Landfill Sites
- Sustainability Goals: 82% reduction in Scope 1 and 2 emissions by December 2025; 2.6 times water positive; All India manufacturing operations ZWTL certified; 84% Renewable Electricity
- New Sustainability Goals for 2030: 80% renewable electricity for India manufacturing operations; 30% absolute reduction in Scope 1 & 2 emissions; Water Neutral year-on-year; ZWTL status for India manufacturing operations and expansion to overseas sites
- Net Zero ambition by 2050
- SDG Mapping: 10 million+ patients screened under Breathefree; 5.5 million patients supported in India; 15,000+ individuals reached through Saath-Saath palliative helpline
- Partnerships: Exclusive license for India's first indigenously developed CAR-T cell therapy in South Africa, Algeria, Morocco; Partnership with Tata IISc Medical School for Centre for Pulmonary Medicine
- Stakeholder Engagement: Double Materiality Assessment conducted in FY 2024-25 to identify key sustainability issues
- Cipla conducted its maiden Double Materiality Assessment (DMA) in FY 2024-25 to align sustainability priorities with stakeholder expectations and emerging risks.
- 10 material topics were prioritized, including Access and Affordability of Medicines, Innovation and R&D, and Climate Action.
- Resource Management (Waste, Water and Land) elevated to Critical due to its growing operational significance.
- Product Quality and Safety elevated to Critical given Cipla's global footprint and complex product portfolio.
- Sustainable Supply Chain elevated to Critical due to tightening global regulations and geopolitical vulnerabilities.
- Corporate Governance recalibrated to Significant, reflecting its maturity despite emerging dynamic topics.
- Enterprise Risk Management (ERM) is central to Cipla’s strategy, with a structured approach to identifying, assessing, and mitigating risks.
- Key risks include pricing and competitive pressures, product quality, supply chain disruptions, geopolitical volatility, and talent management.
- Mitigation measures include cost efficiency, robust quality management, diversified sourcing, geopolitical de-risking, and talent development.
- Risk governance involves oversight by the Board, Investment and Risk Management Committee (IRMC), and Management Council.
- Recruitment and retention challenges, rising operational complexity, and workforce fatigue risks hinder innovation and strategic execution.
- Cyber threats in the pharmaceutical sector pose risks to intellectual property, patient data, and operational systems, leading to potential financial losses and reputational damage.
- Mitigation measures for workforce risks include targeted recruitment, job rotation, employee engagement initiatives, and continuous learning & development.
- Information security measures include advanced monitoring, threat intelligence, cybersecurity simulations, and compliance with global data requirements.
- ESG goals include 80% renewable electricity for India manufacturing, 30% GHG emissions reduction, water neutrality, and zero waste to landfill by 2030.
- Third-party risks include GMP non-compliance, data breaches, and quality issues, with incidents like FDA import alerts causing supply disruptions.
- Climate-related risks include physical threats like cyclones and droughts, and transition risks from shifting to a low-carbon economy.
- Regulatory compliance risks involve non-adherence to global pharmaceutical laws, with potential for litigation, penalties, and reputational damage.
- Product recalls in FY 2025-26 included 33 recalls (7 statutory, 26 voluntary), with no Class I recalls.
- R&D investments focus on patient-centric and sustainable technologies, including low-GWP propellants and biosimilars.
- Cipla filed 15 new patent applications and was granted 11 patents, bringing the total patent portfolio to 281.
- Key product launches include Pirfenidone Tablets, ZEMDRI®, HUENA, and Afrezza® in India, and Liraglutide Injection in the US, South Africa, and Australia.
- Regulatory milestones include 505(b)(2) filings, ANDA filings, and biosimilar advancements, with 25% of medical products receiving FDA Priority Review/EMA Accelerated Assessment.
- Clinical research involved 42 trials and over 30,000 patients, with an 84.61% success rate in pivotal studies.
- AI and digital transformation initiatives in R&D include Regulatory Information Management Software (RIMS) and Electronic Lab Notebook (ELN).
- API innovations focus on polymorph selection, isotope profiling, and physicochemical capabilities.
- Implemented Diffusion Ordered Spectroscopy Nuclear Magnetic Resonance (DOSY NMR) for complex biomolecule characterisation.
- Enhanced green chemistry initiatives, lowering hazardous solvent use and improving process safety and sustainability.
- Transitioned to safer chemicals (replaced MTBE with Ethyl Acetate) and introduced a greener ester-hydrolysis method.
- Developed an improved amide bond reduction methodology for safer and more efficient API synthesis.
- Total workforce: 47,496 (Male: 81.32%, Female: 18.68%).
- 16.85% of permanent workforce are female.
- Achieved 80% succession coverage for critical senior management roles.
- Average training hours per employee: 29.8 hours.
- Invested J 4,425 per employee on learning and development.
- 93% MiVoice engagement score reflecting high employee satisfaction.
- Grievance redressal mechanisms in place across regions with zero reported human rights violations.
- 100% of permanent employees and workers receive wages above legally mandated minimums.
- Maintained zero fatalities goal across manufacturing operations with ISO 14001 & 45001 certifications.
- 15 Life Safety Rules enforced to strengthen workplace safety.
- Made medical insurance inclusive to LGBTQ+ employees' partners.
- 17.18% women in junior management positions.
- Cipla conducts tabletop exercises and mock drills to test emergency response and competency of role holders.
- Implemented industrial hygiene program with noise assessment surveys and digital tools for real-time monitoring.
- 24,388 employees received safety training in FY 2025-26, covering occupational health, industrial hygiene, safety, and environment.
- Safety committees include Central Safety Committee (1,297 non-management, 2,424 management members), Department Safety Committee (3,454 non-management, 9,527 management members), and Contractor Safety Committee (2,398 non-management, 642 management members).
- Lost Time Injury Frequency Rate (LIFTR) for employees was 0.25 per one million-person hours worked in FY 2025-26.
- Zero cases of work-related illnesses and fatalities reported in FY 2025-26 among employees and workers.
- 33 doctors and 75 paramedical staff provide 24/7 occupational health services at manufacturing sites.
- Cipla’s CSR initiatives include health, education, skilling, and environmental sustainability, with total group CSR spends of ₹103.75 crores.
- Reached 2,55,200+ beneficiaries through healthcare programs such as Breathefree, AMR awareness, and Seek Edema, Seek Help (SESH).
- Palliative care initiatives supported 1,000+ unique patient admissions and 13,500+ home visits in FY 2025-26.
- Cipla’s Saath-Saath Helpline reached 15,000+ individuals since 2021, offering palliative care support in multiple languages.
- Facilitated 3,300+ blood transfusions for thalassemia patients.
- Delivered over 1,08,000 medical consultations via MHUs in Himachal Pradesh, Karnataka, Madhya Pradesh, and Maharashtra.
- Established Cipla Foundation Centre for Pulmonary Medicine in partnership with IISc, Bengaluru.
- Provided primary healthcare to over 17,000 individuals globally in FY 2025-26.
- Donated medicines worth 11 lacs for HIV/AIDS, cancer, and respiratory illnesses.
- Implemented water conservation structures in 105 villages, benefiting 28,800+ community members.
- Treated 6,100+ hectares through watershed-based approaches.
- Deployed 450+ solar home lighting systems and 40 solar pumps.
- Benefited 14,300+ students through Mobile Science Labs in partnership with Agastya International Foundation.
- Supported 266 children with scholarships for educational continuity.
- Generated 1,10,379 employee volunteering hours.
- Achieved 84% renewable electricity usage in India manufacturing operations.
- Reduced Scope 1 and 2 emissions by 39% from FY 2024-25 baseline.
- Achieved Zero Waste to Landfill certification for all India manufacturing sites.
- Collected and responsibly disposed of 24,930 MT of plastic waste, meeting 100% EPR targets.
- Set near-term goal of 80% renewable electricity for India operations by FY2029-30.
- Aimed for 30% absolute reduction in Scope 1 and 2 emissions by FY2029-30.
- Harvested 3.8 million KL of rainwater, achieving 2.6 times water positivity.
- Established 40+ Water User Groups for community-led water management.
- Published Carbon Reduction Plan for Cipla (EU) Limited targeting Net Zero by 2050.
- Commitment to achieving 100% EPR compliance for plastic waste in FY 2026-27.
- Savings from plastic collected in FY 2025-26: 26,660 MWh energy saved, 3,56,520 KI water saved, 36,814 tCO2e emissions avoided.
- Product Carbon Footprint assessment conducted for four anaesthetic inhaler products (Sereflo Ciphaler DPI, Sereflo pMDI, Kelhale pMDI, Becloformo pMDI) following ISO 14067 and ISO 14040/44 standards.
- Full compliance with REACH regulations for chemicals, with rigorous quality checks before market release.
- Established Biodiversity Policy and TNFD report assessing biodiversity impacts, focusing on conservation and sustainable value creation.
- Launched Project Sanjivani for wetland restoration at Ujjani Dam, Maharashtra, in collaboration with BNHS.
- Miyawaki afforestation initiative: 1,000 saplings planted over 434 sq. m in urban spaces.
- FY 2025-26 financial highlights: Global revenue of ₹28,163 crores, EBITDA of ₹5,925 crores (21% of revenue), PAT of ₹3,879 crores (13.8% of revenue).
- R&D expenditure in FY 2025-26: ₹1,974 crores (7% of revenue).
- ANDA/NDA portfolio: 181 approved, 55 tentatively approved, 285 under approval.
- North America revenue: USD 780 million with market leadership in Albuterol (19.6% share).
- One Africa revenue: ₹4,287 crores, with South Africa contributing ZAR 6.5 billion.
- Key therapy growth in Sub-Saharan Africa: Respiratory (19% YoY), CVRM (38% YoY).
- Future focus includes Respiratory leadership in North America, chronic therapy expansion in Africa, and digital health innovations.
- Cipla gained strong market share in Morocco's Respiratory (30.4%) and Central Nervous System (18.4%) therapy areas, with growth rates of 18.2% and 18.3%, respectively.
- Localisation of Metered Dose Inhaler manufacturing in Morocco achieved at the Rabat facility, enhancing supply resilience.
- Entry into North Africa's Oncology market with Lenalidomide for Multiple Myeloma and Fulvestrant for breast cancer.
- Expansion into Ghana added to the North Africa cluster, boosting institutional and tender-driven market growth.
- Cipla Global Access (CGA) reached over 1.5 million patients across 72 countries in FY 2025-26 with affordable HIV/AIDS and Malaria therapies.
- CGA advancing pipeline includes Cabotegravir LAI for HIV PrEP and Tenofovir Alafenamide-based regimens.
- EMEU revenue grew 4% to USD 405 million, maintaining leadership in Sri Lanka (3rd rank) and Nepal (9th rank).
- Key launches in EMEU include Liraglutide (Anti-diabetes in Australia) and Palbociclib (Antineoplastic in Mexico, Brazil, Thailand).
- API business revenue in FY 2025-26 stood at USD 55 million (₹489 crores), with 45% contribution from Emerging Markets.
- Cipla operates 4 cGMP-compliant API sites with a total capacity of 792 MT, including a new Respiratory API unit (10 MT capacity).
- Standalone revenue for FY 2025-26 was ₹18979.95 crores, with Profit After Tax at ₹3515.18 crores.
- Dividend of ₹13 per equity share recommended for FY 2025-26, totaling ₹1050.12 crores payout.
- Board changes included appointment of Mr Achin Gupta as MD&GCEO and re-appointment of Mr P R Ramesh as Independent Director.
- New subsidiaries and joint ventures: CiplaRna GmbH (Germany), Cipla Middle East Company (Saudi Arabia), and Aspergen Limited (Joint Venture with Kemwell Biopharma).
- CSR expenditure for FY 2025-26 totaled ₹82.39 crores, with initiatives impacting healthcare, education, and environmental sustainability.
- CSR Obligation for the financial year: H 94.73 crores
- Total CSR spent for the financial year: H 82.69 crores (includes surplus of H 0.46 crore from previous FY)
- Unspent CSR amount for ongoing projects: H 12.04 crores transferred to Unspent CSR Account
- Details of unspent CSR for FY 2024-25: Amount transferred to Unspent CSR Account H 4.75 crores, spent H 3.28 crores, remaining H 1.47 crores
- 297 capital assets created/acquired through CSR spending
- R&D expenditure for the financial year: H 1,618.47 crores (Capex H 24.70 crores, Opex H 1,593.77 crores)
- Export sales amounted to H 6,711.08 crores for FY 2025-26
- Foreign exchange earnings: H 9,144.72 crores, outgo: H 4,225.96 crores
- Renewable energy initiatives: 59 MWp captive solar, 2.7 MVA wind, 11.8 MWp rooftop solar, meeting 84% of India manufacturing operations' renewable electricity requirement
- Energy conservation savings: approximately 19,911 GJ across India manufacturing locations
- Board composition as on 31st March 2026: 1 Executive Director, 4 Non-Executive Directors, 6 Independent Directors
- Ratio of remuneration of Managing Director to median employee remuneration: 682:1
- Total permanent employees: 26,388 as on 31st March 2026
- Female representation on Board: 2 out of 11 (18.18%)
- Comprehensive sustainability reporting covering governance, social responsibility, and environmental initiatives
- Cipla has 30 policies covering various aspects such as Anti-Bribery and Anti-Corruption, Anti-Trust and Fair Competition, Biodiversity, etc.
- Policies are available on Cipla's website (www.cipla.com) and in the Corporate Governance Report on page 216.
- Key policies include Code of Conduct, Data Privacy Management Policy, Dividend Distribution Policy, and Whistle Blower Policy.
- The Investment and Risk Management Committee (IRMC) is responsible for decision-making on sustainability-related issues.
- DNV Business Assurance India Private Limited conducted an independent assessment of ESG-related policies.
- No fines, penalties, or legal actions were reported against directors, KMPs, employees, or workers for bribery/corruption in FY 2025-26.
- Number of days of accounts payables were 66 in FY 2025-26 compared to 62 in FY 2024-25.
- Purchases from trading houses accounted for 5.45% of total purchases in FY 2025-26.
- Sales to dealers/distributors constituted 96.96% of total sales in FY 2025-26.
- Cipla spent 100% of its R&D expenditure (₹1,974 crore) on improving environmental and social impacts.
- ESG audited suppliers accounted for 21.61% of total procurement expenditure.
- Cipla has an Equal Opportunity Policy and complies with the Rights of Persons with Disabilities Act, 2016.
- The Company has a grievance redressal mechanism (#WeAreListening) for employees and workers.
- Performance against ESG commitments is detailed on page 32 of 'Advancing Our Sustainability Vision'.
- Cipla has implemented a comprehensive occupational health and safety management system covering all operations, aligned with ISO 14001 and ISO 45001 standards.
- All operational sites completed an employee health and safety risk assessment in FY 2025-26.
- Cipla has established robust processes for employees to report work-related hazards and remove themselves from unsafe situations, including a new digital reporting platform with AI features.
- Employees have access to non-occupational medical and healthcare services, including occupational health centers and mental-health support.
- Median remuneration for Board of Directors (BoD): Male ₹2,58,00,000, Female ₹1,04,00,000; Key Managerial Personnel: ₹7,81,25,930.
- Gross wages paid to females as % of total wages: FY 2025-26 18.47%, FY 2024-25 16.01%.
- Complaints under POSH Act: FY 2025-26 15, upheld 15; FY 2024-25 17, upheld 17.
- Ethics Committee oversees human rights impacts; employees and stakeholders can report concerns via ethics@cipla.com.
- Sexual harassment complaints in FY 2025-26: 19 filed, 1 pending; FY 2024-25: 19 filed, 2 pending.
- Total energy consumed in FY 2025-26: 21,00,034 GJ; energy intensity: 0.75 GJ/₹ lac of Revenue.
- Water withdrawal in FY 2025-26: 17,36,490 kilolitres; water intensity: 0.57 kilolitres/₹ lac of Revenue.
- Zero Liquid Discharge (ZLD) system implemented at 54% of global manufacturing units.
- Total GHG emissions (Scope 1 & 2) in FY 2025-26: Energy-based 38,426 tCO2e, Refrigerant 5,88,321 tCO2e; Scope 2: 85,906 tCO2e.
- Total waste generated in FY 2025-26: 36,827 metric tonnes; waste intensity: 0.013 MT/₹ lac of Revenue.
- Cipla is compliant with all applicable environmental laws and regulations.
- Scope 3 emissions in FY 2025-26: 43,76,533 tCO2e; intensity: 1.55 tCO2e/₹ lac of Revenue.
- ESG audited suppliers accounted for 21.61% of total procurement expenditure in FY 2025-26.
- Input material sourced directly from MSMEs/small producers: FY 2025-26 7.9%, FY 2024-25 8.9%.
- Job creation in rural areas: wages paid 9.74% of total in FY 2025-26, 10.66% in FY 2024-25.
- CSR spending in aspirational district Muzaffarpur, Bihar was 0.47 crores.
- No preferential procurement policy for marginalized/vulnerable groups exists.
- Percentage of procurement from marginalized/vulnerable groups is not applicable.
- Company's supplier selection follows Responsible Sourcing Policy, Supplier Code of Conduct, and Supply Chain Management Sustainability Policy.
- No intellectual properties based on traditional knowledge are owned or acquired.
- No corrective actions related to intellectual property disputes involving traditional knowledge are underway.
- Multiple CSR projects benefitted vulnerable/marginalized groups 100%.
- Examples of CSR projects include Cipla Palliative Care (1,213 beneficiaries) and Access to palliative care services (64,713 beneficiaries).
- 47% of total turnover carries information about safe and responsible usage.
- 1 consumer complaint received for unfair trade practices in FY25-26.
- 26 voluntary and 7 forced product recalls occurred due to market complaints, cGMP deviations, and non-conformity with FDA specifications.
- Company has a cybersecurity and data privacy policy.
- No instances of data breaches reported.
- Board consists of 55% independent directors, compliant with regulatory requirements.
- Board skills matrix shows expertise in corporate governance, global economics, general management, operations, financial expertise, M&A, risk management, pharmaceuticals, sales/marketing, tech/digital, and sustainability/ESG.
- Succession planning led to appointment of Mr. Achin Gupta as MD&GCEO from April 1, 2026.
- Remuneration details for directors include sitting fees, salary, commission, perquisites, and other benefits.
- Mr. Umang Vohra ceased as MD&GCEO on March 31, 2026, after completing his second term.
- Mr Umang Vohra was granted 33,168 stock options at an exercise price of I 2 per option and 1,14,405 stock appreciation rights (SARs) at a grant price of I 1,390.9 per SAR, with graded vesting up to 31st March 2026.
- During the year, Mr Vohra exercised 16,584 stock options. The balance unexercised options and SARs are exercisable by 30th September, 2026.
- Gratuity of I 0.94 crores was included in the compensation.
- Board committees were reconstituted effective 1st April, 2026, with Ms Maya Hari appointed as Chairperson of the Nomination and Remuneration Committee, and Dr Mandar Vaidya as Chairperson of the Investment and Risk Management Committee.
- Mr Achin Gupta was appointed as MD & Global Chief Executive Officer (MD&GCEO) effective 1st April, 2026, succeeding Mr Umang Vohra.
- The Audit Committee met 10 times during the year, discussing financial results, internal audits, and statutory audit reports. There were no major qualifications in the Statutory Auditors' Report for FY 2025-26.
- Total auditor remuneration paid was I 7.64 crores, with I 0.74 crores for non-audit services, accounting for 9.69% of total remuneration.
- During FY 2025-26, 33 investor complaints were received, with all resolved except one outstanding as of 31st March, 2026.
- The CSR Committee met 4 times during the year, reviewing CSR activities and fund utilisation.
- Performance evaluations were conducted for the Board, Board Committees, and individual Directors, with satisfactory outcomes.
- KFin Technologies Limited is the Registrar and Share Transfer Agent (RTA) of the Company.
- SEBI mandates listed companies to issue shares only in dematerialized form for investor service requests.
- During FY 2025-26, unclaimed dividends amounting to ₹43,54,479 and 21,197 shares were transferred to the Investor Education and Protection Fund (IEPF).
- Unclaimed dividend for the financial year ended 31 March 2019 will be transferred to IEPF on 19 September 2026.
- No shares were transferred to the demat suspense account or unclaimed suspense account during the year.
- The Company received POSH complaints: 14 filed, 14 resolved, with 1 unresolved complaint.
- Dividend declared for FY 2025-26 is ₹13 per equity share (650% on face value of ₹2).
- Listing fees have been paid to BSE Limited, National Stock Exchange of India Limited, and Luxembourg Stock Exchange.
- The AGM will be held on 25 June 2026 at 2:00 PM via Video Conferencing.
- As of 31 March 2026, 24,00,169 GDRs were outstanding.
- Audit confirmed appropriateness of standalone financial statements disclosures and recoverability of investments in subsidiaries.
- Revenue recognition processes, controls, and accounting treatments evaluated, with no material misstatements found.
- No material misstatements in other information outside standalone financial statements and auditor's report.
- Board of Directors responsible for financial statements preparation, true and fair view representation, and internal financial controls.
- Auditor provided reasonable assurance financial statements are free from material misstatement due to fraud or error.
- No unresolved statutory dues except disputes involving Income Tax (₹499.45 crores), Excise Duty (₹171.23 crores), GST (₹291.16 crores), Customs Duty (₹61.44 crores), and others.
- Company maintained adequate internal financial controls as of 31 March 2026.
- Loans granted to subsidiaries amounted to ₹799.56 crores during the year with outstanding balance of ₹1,836.86 crores.
- Investments made in 8 entities totaling ₹373.27 crores (year-end balance ₹10,847.89 crores).
- Dividend of ₹12.04 crores for FY 2025-26 proposed, subject to shareholder approval.
- No fraud reported by the Company or on the Company during the audit period.
- CSR spending: ₹12.04 crores transferred for ongoing projects within deadline.
- Standalone financial statement figures: Total assets ₹38,493.09 crores (2026) vs ₹35,565.72 crores (2025).
- Revenue from operations: ₹18,979.95 crores (2026) vs ₹19,044.85 crores (2025).
- Net profit after tax: ₹3,515.18 crores (2026) vs ₹5,157.65 crores (2025).
- Earnings per share: Basic ₹43.52 (2026) vs ₹63.87 (2025); Diluted ₹43.49 (2026) vs ₹63.82 (2025).
- Equity share capital as at 31st March 2026: H 161.56 Crores (vs H 161.52 Crores in 2025).
- Other Equity as at 31st March 2026: Total reserves and surplus H 34,039.55 Crores (vs H 31,937.72 Crores in 2025).
- Profit for the year 2026: H 3,515.18 Crores (vs H 5,157.65 Crores in 2025).
- Dividends paid in 2026: H 1,292.40 Crores (vs H 1,049.83 Crores in 2025).
- Share-based payments expense in 2026: H 25.35 Crores (vs H 27.43 Crores in 2025).
- Exercise of employee stock options in 2026: H 14.54 Crores (vs H 19.76 Crores in 2025).
- Net cash generated from operating activities in 2026: H 2,831.69 Crores (vs H 3,300.99 Crores in 2025).
- Purchase of property, plant, and equipment in 2026: H 780.69 Crores (vs H 571.06 Crores in 2025).
- Purchase of intangible assets in 2026: H 1,388.13 Crores (vs H 157.62 Crores in 2025).
- Cash and cash equivalents at the end of 2026: H 248.80 Crores (vs H 82.74 Crores in 2025).
- Net increase in cash and cash equivalents in 2026: H 165.70 Crores (vs decrease of H 81.47 Crores in 2025).
- Key management figures mentioned: Achin Gupta (Managing Director and Global CEO), Ashish Adukia (Global CFO), Adi P. Sethna (Partner at Walker Chandiok & Co LLP).
- The Company sells products to business partners at a non-refundable base purchase price and is entitled to an additional profit share based on the partner's net sale proceeds or net profits.
- Revenue recognition: Base sale price is recognized upon delivery, while profit share is recognized only if highly probable that reversal won't occur.
- Contract assets rights to consideration for delivered goods/services before payment is due, subject to impairment. Contract liabilities obligations to transfer goods/services for received/due consideration.
- Interest income is recognized using the effective interest rate method, based on time and principal outstanding.
- Dividend income is recognized when the right to receive payment is established and probable.
- Short-term employee benefits like salaries are recognized undiscounted within 12 months of service.
- Defined contribution plans (e.g., Employees' Pension Scheme) are expensed as contributions accrue.
- Defined benefit plans include provident funds (defined benefit) and gratuity, measured actuarially using the projected unit credit method.
- Lease accounting: Right-of-use assets and lease liabilities are recognized for leases, excluding short-term and low-value leases expensed straight-line.
- Property, plant & equipment: Gross value rose to ₹8,105.56 crores in 2026 from ₹7,423.39 crores in 2025, with net carrying value at ₹3,631.03 crores.
- Right-of-use assets: Net carrying value decreased to ₹151.42 crores in 2026 from ₹160.11 crores in 2025, with lease liabilities at ₹114.37 crores.
- Rental expense for short-term and low-value leases was ₹49.50 crores in 2026 (₹53.07 crores in 2025).
- Financial instruments are classified and measured based on business model and cash flow characteristics (amortized cost, FVTOCI, or FVTPL).
- Impairment of financial assets uses the expected credit loss (ECL) model, with trade receivables assessed using a provision matrix.
- Business combinations are accounted under the acquisition method, with goodwill tested annually for impairment.
- Lease income recognized as 'Rent' in Other Income (Note 29) due to classification as an operating lease.
- Assets classified as held for sale: Total H 39.55 Crores as of March 31, 2025, including Property, plant and equipment (H 37.32 Crores) and Capital work-in-progress (H 2.23 Crores).
- Movement of assets classified as held for sale: Derecognition of asset on sale (H 37.24 Crores), transfer to PPE (H 1.83 Crores), and impairment (H 0.35 Crores) in FY 2025-2026.
- Capital work-in-progress (CWIP) as of March 31, 2026: H 720.23 Crores, a significant increase from H 523.11 Crores in the previous year.
- Intangible assets increased to H 2,240.06 Crores in FY 2025-2026 from H 945.43 Crores in FY 2024-2025, with significant acquisitions including Galvus trademark (H 1,107.28 Crores).
- Investment in subsidiaries and associates totaled H 10,847.89 Crores as of March 31, 2026, up from H 10,501.68 Crores.
- Trade receivables: H 3,396.74 Crores after allowances (H 64.65 Crores), including H 1,720.62 Crores from related parties.
- Current investments in mutual funds: H 6,768.44 Crores as of March 31, 2026.
- Cash and cash equivalents: H 248.80 Crores, up from H 82.74 Crores in the previous year.
- Income tax expense for FY 2025-2026: H 1,120.76 Crores, with a reversal of prior year taxes (H 56.36 Crores).
- Inventory write-downs: H 130.41 Crores (net) in FY 2025-2026 compared to H 169.80 Crores in the previous year.
- Deferred tax liabilities increased to H 289.26 Crores from H 229.14 Crores, primarily due to Property, plant and equipment and intangible assets.
- Loans granted for business purposes with no significant increase in credit risk or credit-impaired loans.
- Loan to Cipla USA at Term SOFR+150bps, repayable by 11th March 2027 (previously Term SOFR+140bps, repayable by 19th April 2025).
- Government incentives/benefits receivable increased to ₹277.42 Crores (from ₹219.87 Crores in March 2025).
- Fixed deposits reduced to ₹1,075.16 Crores (from ₹2,548.62 Crores in March 2025).
- Authorized equity shares remain at 87,50,00,000 shares of ₹2/- each, totaling ₹175.00 Crores.
- Issued equity shares at 80,77,82,631 shares of ₹2/- each, totaling ₹161.56 Crores.
- Securities premium increased to ₹1,707.14 Crores (from ₹1,692.60 Crores in March 2025).
- Retained earnings rose to ₹29,254.95 Crores (from ₹27,045.69 Crores in March 2025).
- Provision for employee benefits increased to ₹306.52 Crores (from ₹260.39 Crores in March 2025).
- Provisions for claims - DPCO increased to ₹94.77 Crores (from ₹86.12 Crores in March 2025).
- Provisions for right of return/discounts and others increased to ₹524.43 Crores (from ₹424.31 Crores in March 2025).
- Revenue from sale of products increased to ₹17,094.67 Crores (from ₹16,111.45 Crores in March 2025).
- Exceptional items include a reversal of impairment of investment in subsidiary (₹294.66 Crores in March 2025) and impact of change in labour code (₹244.37 Crores in March 2026).
- Contingent liabilities include claims not acknowledged as debt (₹138.04 Crores), income tax disallowances (₹211.69 Crores), and excise duty/service tax issues (₹359.17 Crores).
- Research and Development expenditure increased to ₹1,618.47 Crores (from ₹1,269.96 Crores in March 2025).
- Contingent Liabilities: Claims not acknowledged as debt include pricing, commission, etc. Litigations pending with direct and indirect tax authorities. Majority relate to re-assessment orders for FY 2015-16 to FY 2019-20 and assessment orders for FY 2020-21 to FY 2023-24 due to survey and search actions under Section 132 of Income Tax Act, 1961.
- Commitments (in Crores): Unexecuted capital contracts stand at 1,381.96 (2025: 2,010.81). Guarantees against contractual obligations at 174.07 (2025: 204.66). Letters of credit at 66.27 (2025: 65.34). Uncalled liability on committed investments at 35.26 (2025: 48.87).
- Employee Benefits (in Crores): Total contributions to provident fund and other funds at 147.49 (2025: 127.02). Gratuity expenses at 46.52 (2025: 35.68), Provident fund expenses at 64.63 (2025: 55.83).
- Defined Benefit Plans (in Crores): Gratuity liability at year-end: 624.55 (2025: 343.31). Provident fund liability at year-end: 1,740.47 (2025: 1,593.89).
- Sensitivity Analysis (in Crores): For gratuity, a 1% change in discount rate alters liability by 44.59–46.80 (2026) and 23.86–27.21 (2025). For provident fund, a 1% change affects liability by 22.29–57.40 (2026) and 53.42–87.21 (2025).
- Actuarial Assumptions: Discount rate at 7.02% (2026) vs. 6.69% (2025). Expected rate of salary increase remains at 9.00% for both years.
- Related Party Transactions (in Crores): Investments in subsidiaries include 144.11 (2026) vs. 882.80 (2025). Loans given at 785.49 (2026) vs. loan repayments of 294.80 (2026). Outstanding receivables at 1,720.62 (2026) vs. 2,092.98 (2025).
- Remuneration to Key Management Personnel (in Crores): Total at 67.50 (2026) vs. 43.10 (2025), including short-term benefits and share-based payments.
- Royalty Income (in Crores): 1,358.99 (2026) vs. 2,432.21 (2025).
- Donations & CSR (in Crores): 94.80 (2026) vs. 67.48 (2025).
- Dividend received from Jay Precision Pharmaceuticals Private Limited: ₹9.62 crores (2026) vs ₹21.66 crores (2025).
- Dividend received from Meditab Specialities Limited: ₹77.59 crores (2025) vs none in 2026.
- Dividend received from Cipla USA Inc.: ₹0.03 crores (2026) vs ₹0.02 crores (2025).
- Dividend received from Cipla Pharma and Life Sciences Limited: ₹200.01 crores (2026) vs none in 2025.
- Total dividend received: ₹209.66 crores (2026) vs ₹99.27 crores (2025).
- Dividend paid to Key Management Personnel and Directors: ₹258.84 crores (2026) vs ₹244.13 crores (2025).
- Payable to Key Management Personnel and Directors: ₹11.95 crores (2026) vs ₹17.36 crores (2025).
- Contribution to gratuity/provident fund: ₹47.99 crores (2026) vs ₹25.46 crores (2025).
- Rent paid: ₹0.08 crores (2026) vs ₹0.31 crores (2025).
- Share-based payment expenses: ₹24.94 crores (2026) vs ₹27.15 crores (2025).
- Employee Stock Option Scheme (ESOS) details provided for grants in 2024 and 2025.
- Weighted average share price for options exercised: ₹1,481.49 (2026) vs ₹1,464.32 (2025).
- Employee Stock Appreciation Rights (ESAR) details provided for grants in 2024 and 2025.
- Loans given to subsidiaries, including Cipla USA Inc. (₹666.49 crores in 2026) and Cipla Medpro South Africa (Pty) Limited (₹552.25 crores outstanding in 2026).
- Fair value hierarchy for financial instruments categorized into Level 1, Level 2, and Level 3.
- Foreign exchange risk exposure detailed with sensitivity analysis for a 5% INR movement.
- Other price risk exposure from investments in mutual funds: ₹6,768.44 crores (2026) vs ₹6,849.31 crores (2025).
- Expected credit loss model applied for impairment measurement on trade and other receivables.
- Liquidity risk management ensures sufficient funds to meet obligations.
- The company monitors rolling forecasts to ensure sufficient cash flow for operational needs and invests surplus cash in interest-bearing deposits and marketable debt instruments.
- Financial liabilities as of 31st March 2026 include trade payables of H 2,061.55 crores and borrowings of H 10.60 crores.
- Lease liabilities amount to H 142.56 crores with maturities spanning less than 1 year to above 5 years.
- Derivative liabilities include H 169.69 crores designated as hedge and H 356.10 crores not designated as hedge.
- Comparatively, financial liabilities as of 31st March 2025 stood at H 2,302.87 crores.
- The company uses foreign exchange forward and currency option contracts to hedge against foreign currency risk, adhering to board-approved policies.
- CSR expenditure for the year ended 31st March 2026 was H 95.42 crores, meeting the mandatory 2% of average net profit requirement.
- The company's net debt to equity ratio improved to (0.27) as of 31st March 2026 from (0.30) in the previous year.
- A final dividend of H 13 per equity share was recommended for the year ended 31st March 2026, subject to shareholder approval.
- Basic earnings per share (EPS) stood at H 43.52 for the year ended 31st March 2026, down from H 63.87 in the previous year.
- The company holds 100% stakes in multiple subsidiaries including Cipla Pharmaceuticals Limited and Cipla Medpro South Africa (Pty) Limited.
- Impairment assessments of goodwill and intangible assets involve significant judgment, with an impairment charge of H 122.53 crores recorded in FY2026.
- Revenue recognition complexities include accruals for chargebacks, rebates, discounts, and other price adjustments, particularly in the US market.
- The auditor's report highlights key audit matters including DPCO disputes, impairment assessments, and revenue recognition.
- The company has proposed a scheme of amalgamation with its wholly owned subsidiary Inzpera Healthsciences Limited, pending regulatory approvals.
- Audit completed under section 143(3) of the Act, including subsidiaries and associates incorporated in India.
- All necessary information and explanations obtained for the audit.
- Proper books of account as required by law have been maintained.
- Consolidated financial statements comply with Ind AS specified under section 133 of the Act.
- No directors of the Holding Company, subsidiaries & associates disqualified as per section 164(2) of the Act as of 31 March 2026.
- Internal financial controls found adequate and effective, details in Annexure II.
- Consolidated financial statements disclose impact of pending litigations.
- Provision made for material foreseeable losses on long-term contracts.
- No delays in transferring Investor Education and Protection Fund amounts for Holding Company, subsidiaries and associates.
- No funds advanced or loaned by Holding Company/subsidiaries/associates to intermediaries for ultimate beneficiaries.
- No funds received by Holding Company/subsidiaries/associates with investment commitments to funding parties.
- Interim and final dividend complies with section 123 of the Act.
- Proposed final dividend for year ended 31 March 2026 requires shareholder approval.
- Accounting software used by Holding Company and subsidiaries includes audit trail feature, operational throughout the year.
- Total assets as at 31 March 2026: H 42,495.98 crores (Previous year: H 37,387.04 crores).
- Revenue from operations: H 28,162.59 crores (Previous year: H 27,547.62 crores).
- Total comprehensive income for the year: H 4,549.48 crores (Previous year: H 5,487.86 crores).
- Basic earnings per equity share: H 48.03 (Previous year: H 65.29).
- Subsidiaries list includes 46 entities, associates list includes 12 entities.
- Non-controlling interests in subsidiaries are presented separately within equity in the consolidated Balance Sheet.
- Revenue recognition is based on control transfer, with variable consideration estimated using historical trends and market conditions.
- Government grants are recognised when probable and comply with conditions, either as income over periods or deferred income for asset-related grants.
- Inventory is valued at the lower of cost or net realizable value, with cost determined on a weighted average basis.
- Property, plant, and equipment are depreciated using the straight-line method over useful lives ranging from 2 to 40 years.
- Intangible assets with finite lives are amortized over 2 to 25 years, reviewed annually for impairment.
- Defined benefit plans like gratuity are actuarially valued, with remeasurements recognized in other comprehensive income.
- Foreign currency transactions are translated at exchange rates on transaction dates, with gains/losses recognized in profit and loss.
- Lease terms are assessed for extension or termination likelihood, impacting the lease liability calculation.
- Provisions for chargebacks, rebates, and discounts are estimated based on historical averages and current contracts, reducing revenue.
- R&D costs are expensed as incurred unless they meet criteria for capitalization, typically upon regulatory approval.
- Impairment of non-financial assets is assessed annually or when indicators suggest carrying amounts may not be recoverable.
- Expected credit losses on receivables are calculated using a provision matrix based on historical default rates and forward-looking estimates.
- Discontinued operations are presented separately in financial statements, with assets held for sale measured at lower of carrying amount or fair value less costs to sell.
- Tax provisions involve significant judgement across jurisdictions like India, US, and South Africa, with deferred tax assets assessed for realizability.
- The Group operates equity-settled share-based remuneration plans for employees, recognizing compensation expense per Ind AS 102. Fair value at grant date is charged to the Profit and Loss over vesting period.
- For cash-settled share-based payments, fair value is recognized as an expense with a corresponding increase in liabilities, re-measured at each reporting date.
- Income tax expense includes current and deferred taxes, recognized in profit and loss or other comprehensive income as applicable.
- Current tax is calculated using enacted rates, while deferred tax is recognized on temporary differences between tax bases and carrying amounts of assets and liabilities.
- Lease accounting involves recognizing right-of-use assets and lease liabilities for leases beyond short-term or low-value assets, with payments classified as financing cash flows.
- Financial instruments are classified into categories like debt instruments at amortized cost, FVTOCI, or FVTPL based on business model and cash flow characteristics.
- Impairment of financial assets uses the Expected Credit Loss (ECL) model, with trade receivables assessed using a provision matrix based on historical default rates.
- Business combinations are accounted for using the acquisition method, with goodwill measured as consideration transferred minus net identifiable assets acquired.
- The Group has subsidiaries and associates across multiple countries, with ownership percentages detailed as of 31st March 2026.
- Property, plant, and equipment include significant additions and deletions, with gross carrying value at 31st March 2026 standing at H11,766.71 Crores.
- Capital work-in-progress (CWIP) totaled H1,586.28 Crores as of 31st March 2026, with detailed aging schedules provided for projects in progress.
- No capital work-in-progress (CWIP) overdue or exceeding original cost as of 31st March 2026 and 31st March 2025.
- CWIP includes H 40.07 Crores (31st March 2025: H 40.76 Crores) capitalized for project expenses.
- Meditab Specialties Limited settled land lease dispute with Goa Industrial Development Corporation (GIDC), receiving H 33 Crores for surrendering 12,32,000 sq. m. of land.
- Right-of-use (ROU) assets as of 31st March 2026: Land H 155.10 Crores, Buildings and Flats H 297.76 Crores, Plant and Equipment H 0.28 Crores, Total H 453.14 Crores.
- Lease liabilities as of 31st March 2026: Current H 91.32 Crores, Non-current H 264.48 Crores, Total H 355.80 Crores.
- Rental expense for short-term and low-value leases H 129.21 Crores (31st March 2025: H 111.84 Crores).
- Investment properties net carrying value H 0.00 Crores (31st March 2025: H 111.25 Crores), fair value H 0.00 Crores (31st March 2025: H 187.80 Crores).
- Goodwill as of 31st March 2026: Total H 3,754.42 Crores, including H 2,294.66 Crores in the USA, H 1,290.78 Crores in South Africa, and H 168.98 Crores in others.
- Impairment charge during the year for intangible assets and under development: H 122.53 Crores (31st March 2025: H 93.57 Crores).
- Investment in associates as of 31st March 2026: H 111.75 Crores, including H 79.61 Crores in GoApptiv Private Limited.
- Income tax expense for the year ended 31st March 2026: H 1,353.84 Crores (31st March 2025: H 1,529.76 Crores).
- Unused tax losses (including capital losses and MAT credit) not recognized: H 1,201.06 Crores (31st March 2025: H 1,114.34 Crores).
- Contingent liability for tax demands contested: H 211.69 Crores (31st March 2025: H 152.17 Crores).
- Deferred tax assets/(liabilities) net as of 31st March 2026: H 747.75 Crores (Deferred tax assets H 901.02 Crores, Deferred tax liabilities H 153.27 Crores).
- Temporary difference deferred tax liability not recognised: H 4,551.84 Crores (31 Mar 2025: H 3,458.85 Crores).
- OECD Pillar Two global minimum tax rate of 15% applicable to multinational groups with revenue over €750 million. Group evaluated applicability for FY ended 31 Mar 2026.
- No material Pillar Two top-up tax liability for FY ended 31 Mar 2026, expected none for FY ended 31 Mar 2026.
- Movement in deferred tax assets and liabilities: Net deferred tax assets at H 591.34 Crores (31 Mar 2025: H 402.51 Crores).
- Other non-current assets: Total H 657.22 Crores (31 Mar 2025: H 437.59 Crores), including capital advances and prepaid expenses.
- Inventories: Total H 6,596.72 Crores (31 Mar 2025: H 5,642.11 Crores), including raw materials, work-in-progress, and finished goods.
- Inventory write-down (net) of H 334.1 Crores (31 Mar 2025: H 376.1 Crores) due to obsolescence.
- Current investments: Total H 7,679.42 Crores (31 Mar 2025: H 7,293.23 Crores) in mutual funds and other investments.
- Trade receivables: Total H 5,726.07 Crores (31 Mar 2025: H 5,607.86 Crores), with H 1,065.63 Crores ceded as security for borrowings.
- Cash and cash equivalents: H 1,018.22 Crores (31 Mar 2025: H 588.69 Crores), including balances with banks and remittance in transit.
- Bank balances other than cash: H 289.20 Crores (31 Mar 2025: H 211.15 Crores), earmarked for specific uses.
- Equity share capital: Authorised H 175.00 Crores (unchanged), issued H 161.56 Crores (31 Mar 2025: H 161.52 Crores).
- Promoter holdings: Dr Y K Hamied holds 18.63% (unchanged), total promoter holdings at 29.12% (31 Mar 2025: 29.13%).
- Non-controlling interests (NCI): Accumulated balances H 88.29 Crores (31 Mar 2025: H 95.80 Crores), with losses allocated to NCI of H (17.49) Crores (31 Mar 2025: H (3.32) Crores).
- Borrowings: Total H 255.14 Crores (31 Mar 2025: H 46.06 Crores), including term loans and working capital lines.
- Amount payable to micro and small enterprises: H 43.87 Cr as of 31st March 2026.
- Revenue from sale of products: H 27,711.69 Cr (2026) vs H 27,145.40 Cr (2025).
- Revenue breakdown by business unit: India (H 12,679.44 Cr), North America (H 6,862.12 Cr), South Africa & regions (H 4,285.43 Cr), Emerging Markets (H 2,062.07 Cr), Europe (H 1,493.18 Cr), API & Others (H 329.45 Cr).
- Contracted price vs actual revenue: H 38,560.62 Cr contracted, H 27,711.69 Cr realized after deductions.
- Exceptional item due to New Labour Code impact: H 275.91 Cr increase in gratuity and leave liability.
- Employee benefits expense: H 5,366.33 Cr (2026) vs H 4,832.83 Cr (2025).
- Finance costs: H 54.39 Cr (2026) vs H 62.01 Cr (2025).
- Depreciation & amortization expense: H 1,210.98 Cr (2026) vs H 1,106.95 Cr (2025).
- Impairment of investment in associates: H 42.02 Cr recorded in 2026.
- Net gain on foreign currency transactions: H 52.49 Cr (2026) vs loss of H 9.13 Cr (2025).
- Hedge accounting involves comparing changes in fair value of the hedged item and the hedging instrument.
- Rebalancing hedge relationships occurs if the hedge ratio becomes non-optimal but the risk management objective remains unchanged.
- Cash flow hedge reserve closing balance as at 31st March, 2026 was (128.35) Crores, down from 9.69 Crores on 31st March, 2025.
- Total debt increased from 438.19 Crores as at 31st March, 2025 to 613.77 Crores as at 31st March, 2026.
- Net debt to equity ratio improved from (0.33) as at 31st March, 2025 to (0.30) as at 31st March, 2026.
- Final dividend proposed for the year ended 31st March, 2026 is 13 per equity share (face value 2 each), amounting to 1,050.12 Crores.
- Contingent liabilities as at 31st March, 2026 amounted to 739.75 Crores, up from 660.73 Crores as at 31st March, 2025.
- Employee benefits expense for the year ended 31st March, 2026 was 5,366.33 Crores, compared to 4,832.83 Crores for the previous year.
- Defined benefit obligations for gratuity increased from 392.32 Crores at the beginning of the year to 712.07 Crores at the end of the year.
- Share-based payment expense for the year ended 31st March, 2026 was 25.35 Crores for the Parent Company and 33.7 Crores for the Subsidiary Company.
- Profit after tax as reported for 31st March 2026: ₹3,879.23 Crores.
- Profit after tax as reported for 31st March 2025: ₹5,272.52 Crores.
- Share based payment expense for 2026: ₹59.05 Crores; for 2025: ₹47.34 Crores.
- Basic earnings per share for 2026: ₹48.76; for 2025: ₹65.88.
- Diluted earnings per share for 2026: ₹48.73; for 2025: ₹65.82.
- Remuneration to Key Management Personnel and Directors for 2026: ₹74.60 Crores; for 2025: ₹50.01 Crores.
- Dividend paid to Key Management Personnel and Directors for 2026: ₹258.84 Crores.
- CSR expenditure for the year 2026: ₹104.38 Crores; for 2025: ₹84.65 Crores.
- Acquisition of 100% stake in Inzpera Healthsciences Limited completed on 4th December 2025 for a purchase consideration of ₹110.65 Crores.
- Goodwill arising from acquisition of Inzpera Healthsciences Limited: ₹66.70 Crores.
- Acquisition of business undertaking ('Astaberry') by Cipla Health Limited completed on 15th April 2024 for an upfront consideration of ₹130 Crores and deferred consideration up to ₹110 Crores.
- Revenue breakdown by geographical segments for 2026: India - ₹12,680.26 Crores, USA - ₹6,871.50 Crores, One Africa - ₹4,285.45 Crores, Rest of the World - ₹4,325.38 Crores.
- Outstanding options at the end of the year: 71,047 with weighted average exercise price of ₹20,192.48 per option and weighted average remaining contractual life of 0.91 years.
- Exercisable options at the end of the year: 24,139 with weighted average exercise price of ₹20,192.48 per option.
- Expected volatility for share options granted prior to the current year: 24.30% - 25.34%.
- Risk-free investment rate for share options granted prior to the current year: 6.87%.
- Scheme of Amalgamation is pending necessary approvals under the Companies Act, 2013, including approval from the National Company Law Tribunal, Mumbai.
- Consolidated financial statements for the year ended 31st March, 2026 were approved by the Board of Directors on 13th May, 2026.
- Key subsidiaries include Jay Precision Pharmaceuticals Private Limited (60% holding), Meditab Specialities Limited (100% holding), and Cipla USA Inc. (100% holding).
- Profit after Taxation for subsidiaries varies, with notable figures like Cipla USA Inc. at 242.74 crore and Cipla Medpro South Africa at 3.95 crore.
- Total Assets for subsidiaries include Cipla USA Inc. at 3,059.04 crore and Cipla Medpro South Africa at 1,888.86 crore.
- Associates include Stempeutics Research Private Limited (34.36% holding) and Brandmed (Pty) Limited (30% holding).
- Independent assurance was conducted by DNV Business Assurance India Private Limited on sustainability disclosures, adhering to GRI standards and BRSR Core requirements.
- Assurance scope covered energy, water, emissions, waste, and customer privacy disclosures, with reasonable assurance on BRSR Core indicators and limited assurance on other non-financial disclosures.
- Sites audited include corporate offices in Mumbai, manufacturing units in Goa, Indore, Baddi, and international locations like South Africa and the USA.
- No subsidiaries were liquidated or sold during the year.