Sai Parenterals Limited · NSE:SAIPARENT
Sai Parenterals — Q2 FY27 Earnings Presentation
64 slides from Sai Parenterals's earnings presentation, Nov 1, 2026
Slide 1: Regulation 30 disclosure cover letter
To, Date: 1st November, 2026 The Manager The Manager, BSE Limited NSE Limited, P. J. Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex, Mumbai-400001 Bandra (E), Mumbai- 400051. (BSE Scrip Code: 544742) (NSE Symbol: SAIPARENT) Dear Sir/Madam, Unit: Sai Parenterals Limited Sub: Disclosure und
Slide 2: Investor Presentation - September 2026
Sai Parenterals Limited Investor Presentation - September 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sai Parenterals Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: Company Overview
SAL ageNERALS. ivanse Company Overview
Slide 5: Company Snapshot
Company Snapshot A global IP-led pharmaceutical platform Integrated CDMO and branded generics enterprise, focused on injectables and oral dosage forms for regulated and semi-regulated markets 302 599+ 76 >50% 6 1,160 mn facilities Installed capacity, units products registrations dossiers contracted
Slide 6: Two Business Verticals, One Platform
Two Business Verticals, One Platform TWO BUSINESS VERTICALS CDMO Products & Services 37% 1 Branded Generic Formulations 2 CDMO Products & Services 87% 80% 95% • Off-patent formulations under the Company’s • End-to-end contract development and own brands — sold domestically to government manufacturin
Slide 7: Product Portfolio and Export Revenue Mix
Product Portfolio and Export Revenue Mix Across nine therapeutic areas In Australia and New Zealand Weighted to recurring demand 302 Products in the commercial 491 SKUs under exclusive The portfolio is weighted towards chronic and sub- chronic therapies involving long-term, repeat treatment, portfol
Slide 8: Structural Moats and Operating Advantages
Structural Moats and Operating Advantages Diversified formulations player Established track record across dosage forms, therapeutic areas, geographies and channels since 2016. 1 A near-term capex programme* Accredited manufacturing base A Rs. 571 crore capex programme, of which the 7 2 Facilities ca
Slide 9: Evolution of the Business
Evolution of the Business Incorporation of Incorporation of SAI Parenteral’s • Acquired PICS Achieved a Acquired Revat • Set up of Sai • IPO with a Approved turnover of Parenterals Pte. primary raise of Revat Laboratories Sai Parenteral's Pvt acquisition of 100% Laboratories Pvt Cephalosporin ₹100 c
Slide 10: Board of Directors
Board of Directors • 31+ years of pharmaceutical industry • Holds Bachelor's, Master's and Ph.D. experience with deep expertise in degrees in Chemistry, with over 34 years manufacturing and commercial of experience in the pharmaceutical operations. industry. • He provides strategic direction, overse
Slide 11: Promoters and Business Leadership
Promoters and Business Leadership Sai Parenterals Limited • 31+ years of pharmaceutical industry experience with deep expertise in • Over 14 years of pharmaceutical industry manufacturing and commercial experience across procurement, operations. technical operations, and quality-driven • He provides
Slide 12: Experienced Promoters and Senior Management
Experienced Promoters and Senior Management Sai Parenteral’s Limited • Over 15 years of experience in • Legal professional with expertise in pharmaceutical manufacturing, with corporate & commercial law, criminal prior experience at Concord Drugs, and tax litigation, and regulatory Nectar Laboratori
Slide 13: Variation in IPO Proceeds
SAT PARENTERALS LIMITED Variation in IPO Proceeds
Slide 14: Variation in Utilization of IPO Proceeds
Variation in Utilization of IPO Proceeds Amount to be Revised amount funded from Revised timeline S. No. Objects Amount / details of variation after variation net proceeds for utilisation (Rs. cr) (Rs. cr) Original objects of the issue as stated in the Prospectus Rs. 83.8 cr reallocated to Object 7;
Slide 15: New Greenfield Injectable Facility - Rationale
New Greenfield Injectable Facility - Rationale 1 2 3 HILTP 3,100 sq yd >15,000 sq yd A changed regulatory A footprint constraint An asset now under construction position in Hyderabad Under the Hyderabad Industrial Lands The Jeedimetla site (Unit I and II) is ~3,100 sq yd, Saicriti Pharma’s facility
Slide 16: Two Transactions, One Investment Thesis
Two Transactions, One Investment Thesis Particulars Transaction 1 — new injectable facility Transaction 2 — research and development centre Acquirer Sai Parenterals Limited Sai Parenterals Limited Saicriti Pharma Private Limited — critical-care injectable facility under Prathyak Laboratories Private
Slide 17: Acquisitions over Upgradation — the Strategic Case
Acquisitions over Upgradation — the Strategic Case AS SET OUT IN THE PROSPECTUS AS EXECUTED* WHAT IT CHANGES Adds lyophilisation and GLP-1 Upgrade Units I & II to EU-GMP, 57 to 105 Acquired 60% of Saicriti’s facility, 154.66 Injectable manufacturing; ~47% more capacity, EU- mn units; Rs. 83.83 cr; c
Slide 18: Corporate Structure
Corporate Structure Sai Parenterals Limited 100% 75%# 100% 60% 60% Revat Laboratories SP Analytics Sai Parenterals Saicriti Pharma Sai Prathyak Laboratories Private Limited Private Limited Pte Limited Private Limited Private Limited India India Singapore India India Domestic branded generic Group re
Slide 19: Manufacturing & Regulatory Platform
Manufacturing & Regulatory Platform
Slide 20: Current Manufacturing and Research Infrastructure
Current Manufacturing and Research Infrastructure Sterile Injectables Facility Penicillin Injectable Facility Oral Solid Dosage Facility (Jeedimetla, Telangana) (Jeedimetla, Telangana) (Bhongir, Telangana) Cephalosporin Facility Revat Unit Noumed Pharmaceuticals (Bollaram, Telangana) (Ongole, Andhra
Slide 21: Current Manufacturing Footprint and Utilisation
Current Manufacturing Footprint and Utilisation Installed capacity FY26 utilisation FY26 utilization scale Key Dosage forms (mn units) Unit I Liquid injections, sterile non-beta 42 77% Jeedimetla, TS lactam dry powder injections, To be discontinued pre-filled syringes Unit II Sterile penicillin dry
Slide 22: Capacity Utilisation Trend
Capacity Utilisation Trend Capacity Utilisation (%) Group-wide capacity Utilisation (%) 100 63% 90 Capacity utilization trend: 80 53% 70 44% • Unit II (sterile penicillin) runs near full at 95% in H1FY26; 60 50 Unit III (oral solids, TGA) scaled from 24.77% in FY23 to 40 87% in H1FY26 on export dema
Slide 23: Accreditation: The Road Ahead
Accreditation: The Road Ahead Pre-expansion Post-expansion Pre-upgrade Facility Post-upgrade accreditation Capex (Rs. cr) Target completion capacity capacity accreditation On Saicriti Unit I (Injectables) 42 mn Discontinued GMP Not applicable — commissioning On Saicriti Unit II (Injectables) 15 mn D
Slide 24: R&D Capabilities
R&D Capabilities Group R&D platform: Sai Prathyak Laboratories • All Group R&D consolidated at Sai Prathyak Laboratories, Genome Valley, Hyderabad; 60% acquired in October 2026 • 65 personnel, including 28 research scientists, with three years of operating history 01 Capabilities 02 • Lyophilised, l
Slide 25: Business Model and Revenue Engines
Business Model and Revenue Engines
Slide 26: Three Complementary Growth Engines
Three Complementary Growth Engines CDMO Exports Branded Generics Noumed Platform AUSTRALIA & NEW ZEALAND Regulated-market access Partnering customers across Domestic branded formulations through Noumed, with product development, and institutional supply across longstanding pharmacy-chain technology
Slide 27: CDMO Exports
CDMO Exports Formulation Stability Dossier Regulatory Tech transfer Commercial Approval development studies compilation filing back to us supply Revenue event 1 — development fee Revenue event 2 — every batch, for the life of the registration THE CYCLE IS LONG AND THE PAYBACK IS DURABLE WHY OUR CDMO
Slide 28: Branded Generics: Domestic and Export
Branded Generics: Domestic and Export Domestic Trade generics sold to Customers: central and state Tenders from health Longer working-capital cycle distributors without field government agencies, departments in AP, by construction — quality promotion, and branded public and private hospitals, Telang
Slide 29: Noumed: Two Income Streams
Noumed: Two Income Streams Private-label OTC and prescription products supplied to Pharmacy chains contract Noumed for 3PL and logistics 01 Australian and New Zealand pharmacy chains under exclusive to distribute their supplied products 01 long-term agreements SERVICE AND FEE INCOME PRODUCT SUPPLY 1
Slide 30: The Noumed Platform
SAT PARENTERALS LIMITED The Noumed Platform
Slide 31: Why We Acquired Noumed
Why We Acquired Noumed Noumed is an Australia-based supplier of private-label OTC products to retail pharmacy chains, operating in NZ too via its subsidiary Noumed Pharmaceuticals Limited offering both prescription and OTC products. 01 02 03 Turnkey CDMO platform Vertical integration potential Regis
Slide 32: A Full Turnkey Platform
A Full Turnkey Platform Own the IP 〉 Manufacture (Phase 1) 〉 Release the batch 〉 Distribute for the client Today From Q4FY27 Today Today The only organisation in Australia offering the full turnkey solution to multinational pharmaceutical companies OTC portfolio supported by state hospital tenders a
Slide 33: The Australian Pharmacy Model
The Australian Pharmacy Model Originator We own TGA approval Private-label Pharmacy chain patent expires the dossier as first generic supply agreement retails the brand Controlled by Sai Parenterals and Noumed We hold the marketing authorisation We also hold the inventory and the logistics As regist
Slide 34: Customers and Contracts
Customers and Contracts Wesfarmers Health EBOS Group Top-20 ASX listed Top-150 ASX listed Supplied through the Priceline private-label Supplied through the TerryWhite Chemmart banner and the Pharmacy Health generic banner and the Pharmacy Choice generic banner. brand. Operates across Australia, New
Slide 35: Adelaide Facility: Margin Impact
Adelaide Facility: Margin Impact Why in-house manufacturing matters Supply-chain resilience A local manufacturing base reduces reliance on international supply chains and improves continuity for essential products. Margin expansion In-house production lowers procurement, logistics, import-duty and w
Slide 36: The Registration Library
The Registration Library Time to launch in a new export market With an Australian Dossier Without the Library 451+ IP dossiers acquired with Noumed Assembled over five years through in-licensing, portfolio 6 to 9 18 to 24 purchases and organic development months months 88 + 5 dossier approvals in FY
Slide 37: SPL + Noumed = Synergies for Growth
SPL + Noumed = Synergies for Growth SPL NOUMED SYNERGIES Proven manufacturing track record; exports up from 3% of revenue from Strong Australian presence with exclusive Supports expansion of SPL’s global CDMO Commercial operations in FY23 to 63% in FY26; long- pharmacy-chain agreements; New business
Slide 38: Growth Strategy and Outlook
PARENTERALS LIMITED Growth Strategy and Outloo
Slide 39: The Global Market Opportunity
The Global Market Opportunity Global injectable market Global CDMO market Global generics market • ~29% of the global pharmaceutical market by • USD 297 billion in 2025, forecast to exceed USD • 50.8% of the total pharmaceutical market by value in 2024 609 billion by 2033 (9.4% CAGR) revenue in 2024
Slide 40: India: A Generics-Led, Affordability-Driven Market
India: A Generics-Led, Affordability-Driven Market ~90% 16,000+* Of Indian drug consumption by value Jan Aushadhi (PMBJP) stores Generics dominate the domestic pharmaceutical market Up from fewer than 100 in 2014 1,77,617* Ayushman Arogya Mandirs Expanding accessibility alongside affordability Pradh
Slide 41: Our Growth Levers
Our Growth Levers Execute the ongoing capex Scale CDMO & exports 1 ~Rs. 571 crore programme 2 Leverage the dossier library • Leverage 76 dossiers under development, plus Australian • Complete the new EU-GMP injectable facility outside the ORR* dossiers, across multiple markets and ramp up output at
Slide 42: Rs. 571 Crore Capex Across Four Projects
Rs. 571 Crore Capex Across Four Projects 1 2 3 4 Rs. 215 cr Rs. 27 cr Rs. 18 cr Rs. 311 cr Indian injectable Unit III and Research and Adelaide, Australia and oral capacity* Unit IV upgradation development centre* Rs. 83.83 crore as 60% equity in Rs. 27.0 crore towards the Unit III Rs. 15.0 crore fo
Slide 43: The Regulated Market Roadmap
The Regulated Market Roadmap THE REGULATED Replacing - MARKET a constrained ROADMAP injectable base with a new EU-GMP facility, then extending into biologics. Oral solids Completed UNIT III Expanded from 85.5 to 155 million units a month, with output ramping up from Q4FY27, to absorb volume Noumed p
Slide 44: Acquisition Track Record and Framework
Acquisition Track Record and Framework Year Acquisition Consideration What we bought Strategic rationale TGA-Australia and PIC/S Expand footprint in regulated markets OUR ASSESSMENT FRAMEWORK FY22 Unit III, Bhongir Rs. 24 cr accredited oral solids facility and enhance manufacturing capacity Strategi
Slide 45: Key Milestones and Priorities
Key Milestones and Priorities Key Milestones for FY27 Completion of the capital programme and the integration of Noumed, Saicriti and Prathyak are the immediate milestones over the next twelve months Sept–Oct 2026 Q4FY27 Jan 2027 Jan–Feb 2027 March 2027 From April 2027 Shareholder approval of Adelai
Slide 46: Outlook: FY27 and FY28
Outlook: FY27 and FY28 FY27 · EXECUTION-FOCUSED GROWTH YEAR FY28 · INFLECTION POINT AS INVESTMENTS MONETISE Rs. 750 crore ~17%* From asset build to monetisation Revenue Target EBITDA margin • Saicriti lifts injectable capacity to ~154.66 mn units, supported by the acquired Driven by existing long-te
Slide 47: Financial Highlights – Q2FY27
Financial Highlights – Q2FY27
Slide 48: Management Commentary
Management Commentary Q2FY27 is the quarter in which our transformation began to show in our profitability. Consolidated revenue from operations rose 9% sequentially to ₹196 crore. H1FY27 revenue stood at ₹376 crore, half of our FY27 target of ₹750 crore and ahead of our guided 45:55 phasing across
Slide 49: Key Highlights
Key Highlights Saicriti Pharma and Sai Prathyak acquisitions completed 1 Following shareholders’ approval, Rs. 98.8 crore of IPO proceeds invested in 60% stakes in Saicriti Pharma (Rs. 83.83 crore) and Sai Prathyak Laboratories (Rs. 15 crore). Unit III expansion completed 2 Capacity raised from 85.5
Slide 50: Prathyak Laboratories: Acquisition Completed
Prathyak Laboratories: Acquisition Completed 60% stake acquired for Rs. 15 crore. An operating R&D centre at Genome Valley, Hyderabad, now a direct subsidiary, renamed Sai Prathyak Laboratories Pvt. Ltd. 60% 28 174 285 Equity stake, with a path Research scientists in a Molecules across critical SKUs
Slide 51: Sai Prathyak: 174 Molecules, 285 SKUs
Sai Prathyak: 174 Molecules, 285 SKUs 174 285 33 / 48 Development completed 76 / 129 Under development 65 / 108 Products in portfolio molecules SKUs molecules / SKUs molecules / SKUs molecules / SKUs SKUs by market and stage By dosage form Development completed Under development In portfolio Critica
Slide 52: Saicriti Pharma: New Injectable Facility on Track
Saicriti Pharma: New Injectable Facility on Track TARGET READINESS ~154.66 mn Rs. 215 cr >15,000 sq yd EU-GMP | USFDA July 2027 units p.a. injectable capacity total project cost site at Gummadidala standards being built to Project progress ✓ ● ✓ ● ★ Layout design Civil works Process lines Utilities
Slide 53: Unit III Expansion Complete: +81% Capacity
Unit III Expansion Complete: +81% Capacity CAPACITY, MN UNITS / MONTH Ramp-up from Q4FY27 01 • New high-capacity ointment manufacturing tank with temperature and +81% 155 vacuum control for consistent emulsification Semi-solids • Automated tube filling line linked to bulk manufacturing: higher Ointm
Slide 54: Q2FY27 Philippines Launches: 11 Molecules
Q2FY27 Philippines Launches: 11 Molecules Molecule Strengths and dosage form Brand(s) Therapy area SKUs 11 22 7 Telmisartan + Amlodipine 40/5, 40/10, 80/5, 80/10 mg tablets Telday Amlo, ACTARB- A Cardiovascular 7 molecules SKUs therapy areas Sacubitril + Valsartan 50 mg, 200 mg film-coated tablets T
Slide 55: Consolidated Financial Highlights – Q2 & H1 FY27
Consolidated Financial Highlights – Q2 & H1 FY27 Revenue (Rs. Cr) EBITDA (Rs. Cr) & Margin (%) PAT (Rs. Cr) & Margin (%) +257% +9% +224% +67% +46% +33% Quarterly 196 41 11 180 8 7 25 55 13 13.1% 4.4% 5.4% 23.3% 21.1% 13.7% Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Revenue (Rs. C
Slide 56: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. in crore) Q2FY27 Q2FY26 YoY Q1FY27 QoQ H1FY27 H1FY26 YoY Revenue from Operations 196.1 54.9 257.4% 179.9 9.0% 376.0 89.3 321.0% Total Raw Material 103.0 34.8 106.2 209.2 56.6 Gross Profit 93.1 20.1 362.7% 73.7 26.4% 166.7 32.7 409.9% GP Margin (%
Slide 57: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (Rs. in crore) H1FY27 FY26 Particulars (Rs. in crore) H1FY27 FY26 ASSETS Equity Equity Share capital 312.1 22.1 Non-current assets Equity Attributable to Parent 183.7 468.7 Property, plant and equipment 82.6 61.6 Non controlling interest 12.3 4.4 Right of use A
Slide 58: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. in crore) H1FY27 H1FY26 Net Profit Before Tax 19.7 11.2 Adjustments for: Non Cash Items / Other Investment or Financial Items 33.5 6.8 Operating profit before working capital changes 53.2 18.0 Changes in working capital -254.5 -77.4 Cash generated fr
Slide 59: Historical Financial Highlights
Historical Financial Highlights
Slide 60: Consolidated Financial Highlights
Consolidated Financial Highlights Revenue from operations (Rs. Cr) EBITDA (Rs. Cr) & Margin (%) PAT (Rs. Cr) & Margin (%) 386 +48% +35% 44 14 14 +59% 40 33 8 155 163 18 97 4 18.2% 21.2% 24.3% 11.3% 4.5% 5.4% 8.8% 3.7% FY23 FY24 FY25 FY26* FY23 FY24 FY25 FY26* FY23 FY24 FY25 FY26* ROCE (%) ROE (%) Ne
Slide 61: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. in crore) FY26* FY25 FY24 FY23 Revenue from Operations 386.0 163.4 154.9 96.8 Total Raw Material 242.2 93.9 94.9 57.8 Gross Profit 143.8 69.5 59.9 39.0 GP Margin (%) 37.2% 42.6% 38.7% 40.3% Employee expense 29.3 13.1 12.6 8.9 Other expenses 70.8
Slide 62: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (Rs. in crore) FY26* FY25 FY24 FY23 Particulars (Rs. in crore) FY26* FY25 FY24 FY23 ASSETS Equity Equity Share capital 22.1 13.3 13.2 7.2 Non-current assets Equity Attributable to Parent 468.7 80.4 61.3 24.3 Property, plant and equipment 61.6 43.4 60.1 43.5 Non
Slide 63: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. in crore) FY26* FY25 FY24 FY23 Net Profit Before Tax 11.9 19.9 12.6 7.3 Adjustments for: Non Cash Items / Other Investment or Financial Items 30.5 20.4 20.7 11.6 Operating profit before working capital changes 42.5 40.3 33.2 18.8 Changes in working c
Slide 64: Thank You
Thank You Company Investor Relations Advisors CIN: U24231TG2001PLC036043 CIN: U74140MH2010PTC204285 Mr. Anil Kumar, Chief Financial Officer Ms. Drashti Shah / Mr. Parin Narichania +91 87672 24443 / +91 99300 25733 [email protected] [email protected] / [email protected] saiparenterals.com ww