Pfizer Limited
The Capital, 1802/1901,
Plot No. C - 70, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051.
Tel : +91 22 6693 2000 Fax : +91 22 2654 0274
May 12, 2026
The Corporate Relationship Dept. BSE Limited
1stFloor, P.J.Towers Dalal Street, Fort Mumbai - 400 001
Scrip Code: 500680
The Manager, Listing Dept.
The National Stock Exchange of India Ltd. Exchange Plaza, 5thFloor, Plot No. C/1,
G Block Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051
Scrip Symbol: PFIZER
Dear Sirs / Madam,
Sub: Outcome of Board Meeting held on May 12, 2026.
Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at its Meeting held today, i.e., May 12, 2026, that commenced at 1.30 p.m. and concluded at
6.30 p.m., inter alia, approved the following businesses:
Audited Financial Results:
Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith (i) Audited Financial Results for the financial year ended March 31, 2026, (ii) Statement of Assets and Liabilities as on March 31, 2026,
Statement of Audited Cash Flows for the year ended March 31, 2026,
Declaration with respect to the Audit Report with unmodified opinion and
Auditor's Report by the Statutory Auditors, M/s. B S R & Co., LLP , in respect of the said Audited Financial Results.
Dividend and Record Date:
The Board of Directors at its meeting held on May 12, 2026, have recommended a final dividend of Rs. 75/- per equity share of Rs. 10/- each (750%) for the financial year ended March 31, 2026.
The said dividend, if declared at the ensuing Annual General Meeting of the Company, shall be paid on or after August 4, 2026, to those shareholders whose name appear in the Register of Members of the Company as on the Record date i.e., Friday, July 17, 2026.
Annual General Meeting (AGM):Convening of the 75thAnnual General Meeting of the Company on Tuesday, July 28, 2026, through Video-Conferencing ("VC") / Other Audio-Visual Means ("OAVM") in accordance with the relevant Circulars issued by Ministry of Corporate Affairs and Securities and Exchange Board of India.
CIN: L24231MH1950PLC008311
Email ID: contactus.india@pfizer.com
Website: https://www.pfizerltd.co.in
Appointment of Cost Auditors:The Board of Directors upon recommendation of the Audit Committee, at its meeting held on May 12, 2026, appointed M/s. Kishore Bhatia & Associates (Firm Registration No. 000294) as the Cost Auditors of the Company for the financial year ending March 31, 2027. The remuneration payable to M/s. Kishore Bhatia & Associates shall be placed before the shareholders for ratification at the ensuing Annual General Meeting.
Details pursuant to SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, is enclosed as Annexure A.
Non-Applicability of Annual Disclosure to be made by an entity identified as a Large Corporate:
We hereby confirm that, (i) the Company has not issued any debt securities and non-convertible redeemable preference shares, (ii) the Company does not have any outstanding long-term borrowings exceeding Rs. 1,000 Crores and (iii) the Company has not obtained any credit ratings relating to borrowings.
Accordingly, the Company does not fall under the category of Large Corporate as on March 31, 2026, in terms of SEBI circular No. SEBI/HO/DDHS/DDHS RACPOD1/P/CIR/ 2023/172 dated October 19, 2023, and amendments thereof.
We request you to please take the above on record. Thanking you,
Yours truly,
Prajeet
For Pfizer Limited
Digitally signed by Prajeet Nair
Nair
Date: 2026.05.12
19:20:03 +05'30'
Prajeet Nair
Director - Corporate Services & Company Secretary Encl.: A/a
Annexure A
Sr. No. | Particulars | Details |
1 | Reason for change | Appointment of M/s. Kishore Bhatia & Associates as the Cost Auditors of the Company for the financial year ending March 31, 2027. |
2 | Date of Appointment / Cessation and Term | May 12, 2026 |
3 | Disclosure of relationship with Directors | None |
4 | Brief Profile | M/s. Kishore Bhatia and Associates is a firm of Practicing Cost accountants based in Mumbai offering a wide spectrum of Services to its esteemed clientele. The firm has handled various assignments in costing such as cost audit, certifications, setting up costing systems, cost consultancy, costing-based turnaround strategies, etc. across diverse industry and client base. In addition, it has also handled Internal audit, Stock and assets verification, Industry studies assignments etc. The Firm has highly qualified Partners and an experienced team. The Firm has conducted Cost Audits for clients in Pharmaceuticals, Engineering, Chemicals, Insecticides, Construction, Real Estate, Steel, Infrastructure, Telecommunications, Plastics & Polymers, Petroleum, FMCG, Medical Devices, Ports, Roads, Paints, Energy etc. |
B S R & Co. LLP
Chartered Accountants
14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center
Western Express Highway
Goregaon (East), Mumbai - 400 063, India Telephone: +91 (22) 6257 1000
Fax: +91 (22) 6257 1010
To the Board of Directors of Pfizer Limited
Report on the audit of the Annual Financial Results
Opinion
We have audited the accompanying annual financial results of Pfizer Limited (hereinafter referred to as the "Company") for the year ended 31 March 2026, attached herewith. being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid annual financial results:
are presented In accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 Mamh 2026.
We conducted our audit in accordance with the Standards on Auditing ("SAs*) specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responslbililies for I/ie Audit of the Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical raquirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the annual financial results.
Manegownt'e and goazd of Oimctors' Reeponalbillbea for the Annual Flnancfal Resume
These annual financial results have been prepared on the basis of the annual financial statements.
The Company's Management and the Board of Directors are responsible for the preparation and presentation of these annual financial results that give a tnie and fair view of the net profit/ loss and other comprehensive Income and other financial information in accordance with the recognition and measurement principles laid down In Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 32 of the Listing Regulations. This responsibility also includes maintenance of adequate aocounting records in accordance with the provisions of the Act for safeguarding of the aasets of the Company and for preventing and detecting frauds and other irragularities; selection and application of appropriate accounting policies: making judgments and esGmates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls. that were operating effectively for ensuring accuracy and completeness of the aoCounting records, relevant to the preparation and presentation of the annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the annual financial results, the Management and the Board of Directors are responsible for
ReglMered OGce-
Page 1 of 3
B S R & Co. LLP
Independent Auditor's Report ¿Confinoecf}Pfizer Limited
assessing the Company's ability to continue as a going c‹mcern, disclosing, as apphcable, matters related to going concern and using the going concern basis of accounting unless the Board of Oirectors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are responsible for overseeing the Company's financial reporting process.
Audhor*e Aeaqonalbll iea for the Audi of the Annual FinancinT Results
Our objectives are to obtain reasonable assurance about whether the annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that indudes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expecmd to influence the economic decisions of users taken on the basis of these annual financial results.
As part of an audit in accordance with 5As, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the annual financial results, whether due to fraud or error, design and perform audit procadures responsive to those risks, and obtain audit evidence that is sufficien! and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions. misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures In the annual financial results made by the Management and Board of Directors.
Conclude on the appropriateness of the Management's and Board of Directors' use of the e••s concern basis of accounting and, based on the audit evidence obtained, whether a materiai uncerlainty exists related to events or conditions that may cast significant doubt on the
appropriateness of this assumption. If we conclude that a material uncertainty exists, wa are required to draw attention in our auditor's report to the related disclosures in the annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may causa tha Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the annual financial results, including the disclosures, and whether the annual financial results represent the underlying transactions and events ina manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
The annual financial results include the results for the quarter ended 31 March 2026 being fhe balancing
figure between the audited figures in respect of the full financial year and the published unaudited year to
Page 2 of 3
B S R & Co. LLP
In ne pen ‹lent A rid ito r's Re po rt ( Co r›Eli ‹/ecYJ
Pfizc r L ini ited
date figures up to the third quarter of the current financial year whtch were subject to limited review by us.
For B S R & Co. LLP
Chartered Accountants
Firm's Registration No..101248W/W-100022
Mumbai
12 May 2026
Sreeja Marar
Partner Membership No.: 111410 UDiN.2611141oceauRF2484
Page 3 of 3
Pfizer Limited
The Capital. 1802/1901,
Plot No. C - 70, G Block, Bandra Kurla Complex, Bandra (East). Mumbai 400 051.
Tel : +9f 22 66g3 2000 Fax : +91 22 2654 0274
Sutement of Finandal ResulD for the Quarter and Yaer anded 31 March 2026
zer
(PIncraze cacapt eamlngs pershare
tI+a pret6rxJs yaar 31/03/2025 | 31/0a/Z0Zs | 3S/0a/20z5 | ||||
{Re¥ar noto €) | (Refer ruzte 4) | Audited | ||||
(a) Revenue from operations | 629.23 | 645.03 | 591.91 | 2,519.65 | 2,281.35 | |
(b) Other income | 40.72 | 38.21 | 44.58 | 187.95 | 172.25 | |
Totat Income | 669.95 | 6B3.24 | 636W | Z,70y,60 | ||
2 | Expenses (a) Cast of matenak consumed | 67.78 | 70.M | 2C34 | ||
(b) Purchases of stock-In-trade | 117.69 | 145.15 | 13932 | 608.39 | 5t2.7S | |
(c) Changes in inventory Of finished goods, work-in-pfOgress and | ||||||
stock•ln-trade | 19.63 | 11.84 | (7.68) | {33.59) | 25.36 | |
{d) Empk›yee beneFas expense | 77.18 | BZ.91 | 567.97 | 371.33 | ||
(e) Finance costs | 2.11 | 3.69 | 9.48 | |||
(f} Depreciatlon and amortization expense | 14.78 | t4.Z6 | 16.40 | 57.73 | 60.79 | |
(g) Other expenses | 95.74 | 91.77 | 79.02 | 363.28 | 359.34 | |
Total eapezaes | 'St0.17 | 4Z3.09 | 1,68Z.77 | |||
3 | nailbafore tax and excaptio•+al Itams (1 - 3) | |||||
4 | Exceptipnat items (Refer Note 5l | 9.04 | (5B.20j | i72.8l | (49.16) | 172.81 |
s 6 | Prom hefore tax t3 +d) rax expense | 268.84 | 191.95 | 42 | 975.67 | 1,016.09 |
(a) Current tax | 257.52 | A4.10 | ||||
(b) Deferred tax | 2.36 | [7.89j | (4.20) | (4.28) | ||
7 | Net profit for the year 15• 6) | 141.B4 | 330.94 | 7ZZA4 | ||
B | Other Comprehensive tncoma (a) Items that will not be redassifiad subsequently to profit or loss | S.05 | 2.51 | 3.14 | S.11 | 0.99 |
(b) imome iax related to Items that will nOt be redassffled to profit or loss | (1.25) | {£1.64) | (0.M' | (1.27) | (0.25) | |
3A0 | 2JS | 3A4 | 0.74 | |||
9 | Total comprehensive income for the peri0d / year (7 + 8) | 203.62 | 143.71 | 333.29 | 726.27 | |
10 | PaJd-up equxy share capital Itace value per share €10) | 45.75 | 45.75 | 45.75 | 45.75 | 45,75 |
It | Other equity | 4,157.15 | 4,171.6E | |||
12 | Earnings per share - Basic axed Diluted (of T10/- each) # Computed on the kasis of net profit for the year | 43.6B | 3lJ)] | 72.34 | 157.92 | 167.79 |
# Earnings per share.- Basic and Diluted before Exceptional Items
°Not annualized
42.?l
40.42
41.01
165.88
136.46
scacement of Audited cash rlows for the yearer›ded 31 March 1026 | ||
Partkulefs | Yeer ended 31/O3/z026 | Year ended 31/03/10M |
Msh from operating activities | ||
975.67 | ||
Depreciation and amortization expenses | 57.73 | 6D.79 |
Interest Income from f1nanciai assets at amortised cost | (165.70) | (1S7.27) |
LiabllJtJes/provisions no longer required written back | "' (0.00) | (0.01) |
Allowance/(Reversal) lor expected credit loss and doubtful mans and deposits | 3.04 | 167 |
Loss/(Profit) on sale/disposal of Property plant & equipment (net) | 0.09 | 1.53 |
Write down of Inventory | 28.46 | 11.34 |
Unrealised foreign exchange(gain)/loss | 0.S5 | 0.21 |
Gain on assignment of land and building thereto (Refer Note S) | (172.81) | |
Employee share based expense | 14.06 | |
Rental income | (12.66) | |
Interest expense Gain on early termlnatlen of lease | 9.48 | 8.4J (0.43) |
Interest on income tax refund | ||
Working aapitat ad)ufitn›enIs | ||
(Increase)/Decrease in invenLaties | (25.21) | (53.56) |
(Increase)/Oecrease in trade receivables | 9.06 | (6.82) |
(Increase)/Oecrease in other current and non current assets | 3.88 | 67.61 |
Increase/(Decrease) in trade payables | 63.33 | {15.31) |
Increase/(Decrease) in current and non current liabilities | 13.57 | 21.94 |
Increase/(Decrease) in provisions | (24.44) | 3t.S9 |
Cash generated from opera¥iem | 95Z.04 | 815.97 |
Income tax refunded/ (paid) tnet) | 14.53 | (156.22] |
Net cash generated from operating activities (A) | ||
967.57 | 659.75 | |
Cash ffom investing acrlvfties | ||
Purchase of property, plant and equlpment* | (28.15) | |
Proceeds from sale of property, plant and equipment | 0.20 | |
Net recelpTs from assignment of land and building thereto (Refer note 5) | 151.68 | |
Fixed deposit (placed)/matured (net) | ]714.59} | (354.27) |
Rent received | 19.84 | |
Interest received | 176.99 | i39.36 |
Net cash {used) Tn nvasting actMtles (B) | ||
t561.67} | (71.34) | |
CaSh from financing activities | ||
Principal payment of Lease liabilities | (38.17) | (37.31) |
Interest paid of Lease liabilities | (7.53) | (7.48) |
Interest paid other than Lease liabilities | (0.97) | (0.30) |
Dividend paid | (7S1.64) | (160.2S) |
Net cesh tused) In financing actTvltlas (C) | ||
(798.3t) | (Z05.34) | |
Met(Decrease)/Inaaasein cash and cash equfuafants(A+8+Cl | (392.A1] | 383.07 |
Cash and cash equivalents at the begInningof!heyear | 495.07 | 112.0gI |
Cash andcashequivalents at the end of the year | 202.66 | 495.07 |
"Purchase of property, plant and equipment represents additions to property, plant and equipment adjusted fOr movement of capica work n progress,capitaI advances and capital creditors during the perlod.
"* Amount below 9 one lakh
Statement of Assets and Liabilities as at 31 March 2026
(7 in crore)
Particulars | As at 31 March 2026 | As at 31 March 2025 |
Audited | Audited | |
ASSETS | ||
Non-current assets | ||
Property, plant end equipment | 136.13 | 171.82 |
Capital work-in-progress | Z0.00 | 7.64 |
Goodwill | 527.49 | 527.49 |
Other Intangible assets | 14.35 | 24.31 |
Financial assets | ||
Investments ' | 0.00 | 0.00 |
Other financial assets | 15.19 | 13.93 |
Deferred tax assets (net) | 72.31 | 69.30 |
Other tax assets (net) | 166.33 | 417.29 |
Other non-current assets | 166.86 | 166.48 |
Total noneurrent assets | 1,11B.66 | 1,398.26 |
Current assets | ||
Inventories | 472.66 | 475.92 |
Financial assets | ||
Trade receivables | 181.80 | 193.09 |
Cash and cash equivalents | 102.66 | 495.07 |
Bank Balance other than cash and cash equivalents | 3,008.10 | 2,305.91 |
Other financial assets | 2.97 | 3.90 |
Other current assets | 35.03 | 38.96 |
Total current assets | ||
3,803.22 | 3,512.85 | |
TOTAL ASSETS | 4,921.88 | 4,911.11 |
EQUfTY AND LIABILITIES Equity Equity share capital Other equity Total equity Liabilities Non current liabilities Financial liabilities Lease Liabilities Other financial liabilities Provisions Total non-current liabilities Current liabilities Financial liabilities Borrowings Lease Liabilities Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and smal) enterprises Other financial liabilities Other current liabilities Provisions Current tax liabilities (net) Total current liabilities Total liabilities | 45.75 | 45.75 |
4,157.15 | 4.171.66 | |
4,202.90 | 4,2i7.41 | |
36.08 | 67.62 | |
7.32 | ||
48.10 | 56.57 | |
91.50 | 124.19 | |
2.50 | 250 | |
31.65 | 38.28 | |
12.83 | 11.27 | |
203.11 | 140.33 | |
69.54 | 40.07 | |
45.62 | 64.76 | |
30.26 | 51.34 | |
231.97 | Z20.96 | |
6Z7.4#B | 569.51 | |
718.98 | 693.70 | |
TOTAL EQUITY AND 1IABtkITtES | 4,921.88 | 4,911.21 |
' Amount be)ow R one lakh
NOTES:The above financial results were reviewed by the Audit Committee and thereafter approved by the Board of Directors at their meeting held on May 12, 2026.
The financial results of the Company have been prepared in accordance with Indian Accounting Standards ('Ind AS") prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended from time to time).
The financial results for the year ended March 31, 2026 have been audited by the statutory auditors of the Company. The audit opinion does not contain any modifications. The audit report will be filed with the Stock Exchanges and will also be available on the Company's website - https://www.pfizerltd.co.in
Figures for the quarter ended March 31, 2026 and March 31, 2025 represent the difference between the audited figures in respect of the full financial year and published unaudited figures of nine months ended December 31, 2025 and December 31, 2024 respectively which were subject to a limited review by the statutory auditors.
Exceptional Items:
Exceptional items of l:(49.16 crore for the year ended March 31, 2026 includes:
The charge of l:(41.73 crore for the year (nine months ended December 31, 2025 l:(39.58 crore) towards personnel separation cost of field force and marketing teams as a result of an exclusive Supply and Marketing Agreement with Cipla Limited for marketing and distribution of four brands of the Company, viz., Corex Dx, Corex LS, Dolonex, and Neksium and also includes personnel separation cost for other support functions.
Effective 21 November 2025, the Government of India hadconsolidated several existing labour laws into a unified framework consisting of four Labour Codes, collectively known as the 'New Labour Codes'. The Company has carried out an assessment based on the best available information and legal opinion, which has resulted in increase in the provision for employee benefits by l:(7.43 crore for the year (nine months ended December 31, 2025 l:(18.62 crore). The Company continues to monitor the developments pertaining to the New Labour Codes and the impact, if any, will be accounted in accordance with applicable accounting standards.
Exceptional Items for the year ended March 31, 2025 relates to Net gain of U72.81 crore (net of carrying value of �31.75 crore and cost to sell - Premium and other charges �9.84 crore, net of recovery) on account of assignment of Lease of MIDC Land and Sale of Building constructed on such land.
The Company has only one segment which is 'Pharmaceuticals'. Therefore, disclosure relating to segments is not applicable and accordingly not made.
The Board of Directors have recommended a final dividend of X75 per equity share of CIO each (750%) for the financial year ended March 31, 2026. The proposed dividend amounting to T343.11 crore is subject to the approval of the shareholders in the annual general meeting.
The Company does not have any subsidiary company or associate company or joint venture company as at March 31, 2026.
For Pfizer Limited
M v 12, 2026
Meenakshi Nevatia Managing Director
Pfizer Limited
The Capital, 1802/1901,
Plot No. C - 70, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051.
Tel : +91 22 6693 2000 Fax : +91 22 2654 0274
May 12, 2026
P$$xer
The Corporate Relationship Dept. BSE Limited
1" Floor, P.J.Towers Dalal Street, Fort Mumbai -400 001
Scrip Code: 500680
Dear Sirs / Madam,
The Manager, Listing Dept.
The National Stock Exchange of India Ltd. Exchange Plaza, S'h Floor, Plot No. C/1,
G Block Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051
Scrip Sv bol: PFIZER
Subject: Declaration with respect to Audit Reeort with unmodified opinion on the Audited Financial Results for the financial vear ended March 31, 2026.
We hereby declare that the Statutory Auditors have not expressed any modified opinion(s) in their Audit Repon with respect to the Audited Financial Results for the financial year ended March 31, 2026, which have been approved by the Board of Directors of the Company at their meeting held today, i.e., May 12, 2026.
The above declaration is made in pursuant to Regulation 33 (3) (d) of the Securities and Exchange Board of India (Listed Obligations and Disclosure Requirements) Regulations, 2015.
Thanking you, Yours truly,
For Pfizer Limited
Meenakshi Nevatia
Managing Director
Email ID:
Website:
