Aarti Pharmalabs Limited · NSE:AARTIPHARM
Aarti Pharmalabs — Q2 FY27 Earnings Presentation
30 slides from Aarti Pharmalabs's earnings presentation, Oct 29, 2026
Slide 1: Cover letter to stock exchanges - Results Presentation
October 29, 2026 To, To, Listing/ Compliance Department Listing/ Compliance Department BSE LTD. National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Plot No. C/1, Dalal Street, G Block, Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai – 400 051 SCRIP CODE: 5
Slide 2: Investor Presentation October 2026
INVESTOR PRESENTATION October 2026
Slide 3: Snapshot
SNAPSHOT 25 Years of Pharmaceutical Excellence 220+ Products 500+ Global Clients State-of-the-art 3 R&D facilities 65 Patents Filed 50+ Export Countries Manufacturing 7 Units 60 US DMF 2,500+ Employees 3 USFDA Units 44 CEP Global 15-20% Market Share 0.37x Net Debt/Equity AA- Credit rating in Xanthin
Slide 4: Company Overview
1 COMPANY OVERVIEW 2 BUSINESS OVERVIEW 3 STRATEGIC OVERVIEW 4 FINANCIAL OVERVIEW Aarti Pharmalabs Limited
Slide 5: Company Overview
COMPANY OVERVIEW STANDALONE REVENUE (INR Mn) • Aarti Pharmalabs Limited (APL) is part of the Aarti group – a diversified chemical conglomerate with & EBITDA MARGINS (%) group turnover of INR 145+ bn (FY26) 17,714 17,976 • Globally recognized manufacturer of generic API, Xanthine derivatives (Worlds
Slide 6: Key Milestones
KEY MILESTONES 2026 • Inaugurated Tarapur(Unit 5), adding 3,600 TPA to reach a total capacity of 9,600 TPA 2024 • Started 21 MW solar power project at Akola, Maharashtra • Expansion of semi-commercial production block at Vapi 13 2022 12 • Expanded block for CSD in Vapi and API in Tarapur units 2025
Slide 7: Geographical Presence
GEOGRAPHICAL PRESENCE Atali Vapi - Unit II Tarapur - Unit III, IV, V, VI Dombivli - Unit I Gujarat Mumbai Maharashtra LOCATION MANUFACTURING UNITS CERTIFICATIONS & AUDIT DATE Dombivali Unit - I (API, Intermediates, CDMO) USFDA - Jun 2022 Unit - II (API, Intermediates, CDMO) Vapi USFDA - Sep 2009, Au
Slide 8: Manufacturing Capabilities
MANUFACTURING CAPABILITIES END TO END CAPABILITIES UNDER ONE UMBRELLA Hydrogenation facilities from lab-scale to 25 years of experience in pharmaceuticals manufacturing scale (0.1-10 KL reactors) manufacturing for global clients Impeccable regulatory track record and facilities Cryogenic reactors op
Slide 9: Research & Development
RESEARCH & DEVELOPMENT 3 40+70+ 3 State of the art Products developed and R&D Centers at manufactured on kilo-lab Maharashtra & Gujarat scale in FY26 19 8.5%70+ 3 18 3 New products R&D Spend (as a percent PhDs launched at plant of API/Int & CDMO sales) scale in FY26 in H1FY27 120 3 39 Cr70+ 3 61 70+
Slide 10: Business Overview
1 COMPANY OVERVIEW 2 BUSINESS OVERVIEW 3 STRATEGIC OVERVIEW 4 FINANCIAL OVERVIEW Aarti Pharmalabs Limited
Slide 11: Xanthine Derivatives & Allied Products
XANTHINE DERIVATIVES & ALLIED PRODUCTS • World's third-largest and India's largest manufacturer of Xanthine Derivatives, including Caffeine SALES QUANTITY SPLIT (H1-FY27) (largest capacity in India), Theophylline Anhydrous, Aminophylline, Etophylline, and Theophylline. • Non-Chinese dependent and fu
Slide 12: API & Intermediates
API & INTERMEDIATES • Specialized player in the development and manufacturing of HPAPIs, catering to the demand for critical drugs used in oncology, corticosteroids, and cytotoxic medicines. MARKET SEGMENTATION (H1-FY27) • Backward integrated for most APIs, with control over entire production value
Slide 13: CDMO & CMO
CDMO & CMO • Amongst leading small molecule CDMO/CMO players in India, working with big pharma, innovators CDMO Sales (INR Cr) and biotech companies. • Offering end to end services including process development and manufacturing of KSMs, RSMs, Intermediates & GMP APIs for small molecule NCEs, from e
Slide 14: Segmental Share & Quarterly Highlights
SEGMENTAL SHARE & QUARTERLY HIGHLIGHTS REVENUE BREAKUP Q2-FY27 OPERATIONAL HIGHLIGHTS Q2-FY27 • RM costs stay elevated due to geopolitical tensions. The increase is being passed on, for 7% majority of the products. 13% • Capacity expansion done in Q1FY27 in Steroid Block at API Plant (Tarapur-4) has
Slide 15: Strategic Overview
1 COMPANY OVERVIEW 2 BUSINESS OVERVIEW 3 STRATEGIC OVERVIEW 4 FINANCIAL OVERVIEW Aarti Pharmalabs Limited
Slide 16: Capex Update
CAPEX UPDATE Brownfield Capex – Atali Block 2 Site Unit 7, Atali, Gujarat Estimated Investment INR 149 crores Estimated Capacity ~405 KL Timeline Commercialization by H2FY28 Product Focus CDMO/CMO Strategic Rationale • Dedicated for certain CDMO / CMO projects, thereby ensuring supply continuity to
Slide 17: Future Outlook
FUTURE OUTLOOK FY26 CAPEX reached ~ INR 400 cr; FY27 outlook expected at similar levels Targeting 15-18% Initiating R&D investment in FY27 towards TIDES (Peptides Revenue & EBITDA CAGR & Oligonucleotides) to expand portfolio capabilities. Over the Next 3-4 Years Capex for Atali Block 2 with 400+ kL
Slide 18: Financial Overview
1 COMPANY OVERVIEW 2 BUSINESS OVERVIEW 3 STRATEGIC OVERVIEW 4 FINANCIAL OVERVIEW Aarti Pharmalabs Limited
Slide 19: Quarterly Standalone Income Statement
QUARTERLY STANDALONE INCOME STATEMENT PARTICULARS (INR Mn) Q2-FY27 Q1-FY27 Q-o-Q Q2-FY26 # Y-O-Y Operational Revenue 6,126 5,346 14.6% 4,173 46.8% Operating Expenses 4,768 4,019 18.6% 3,432 38.9% EBITDA 1,358 1,327 2.3% 741 83.3% EBITDA Margin (%) 22.17% 24.82% (265) Bps 17.76% 441 Bps Depreciation
Slide 20: Half Yearly Standalone Income Statement
HALF YEARLY STANDALONE INCOME STATEMENT PARTICULARS (INR Mn) H1-FY27 H1-FY26 # Y-O-Y Operational Revenue 11,472 7,926 44.7% Operating Expenses 8,787 6,234 41.0% EBITDA 2,685 1,692 58.7% EBITDA Margin (%) 23.40% 21.35% 205 Bps Depreciation and Amortisation 606 475 27.6% Finance costs 278 175 58.9% Fo
Slide 21: Historical Standalone Income Statement
HISTORICAL STANDALONE INCOME STATEMENT PARTICULARS (INR Mn) H1-FY27 FY26 FY25 FY24 Operational Revenue 11,472 17,976 17,714 15,021 Operating Expenses 8,787 13,915 13,449 11,560 EBITDA 2,685 4,061 4,265 3,461 EBITDA Margin (%) 23.40% 22.59% 24.08% 23.04% Depreciation and Amortisation 606 1,043 791 66
Slide 22: Historical Standalone Balance Sheet
HISTORICAL STANDALONE BALANCE SHEET ASSETS (INR Mn) FY25 FY26 H1-FY27 EQUITY & LIABILITIES (INR Mn) FY25 FY26 H1-FY27 Assets Equity & Liabilities Non-current assets Equity share capital 453 453 453 Property, plant and equipment 10,135 13,359 14,092 Other equity 17,986 19,370 20,579 Capital work-in-p
Slide 23: Quarterly Consolidated Income Statement
QUARTERLY CONSOLIDATED INCOME STATEMENT PARTICULARS (INR Mn) Q2-FY27 Q1-FY27 Q-o-Q Q2-FY26 # Y-O-Y Operational Revenue 6,105 5,358 13.9% 4,183 45.9% Operating Expenses 4,759 4,032 18.0% 3,436 38.5% EBITDA 1,346 1,326 1.5% 747 80.2% EBITDA Margin (%) 22.05% 24.75% (270) Bps 17.86% 419 Bps Depreciatio
Slide 24: Half Yearly Consolidated Income Statement
HALF YEARLY CONSOLIDATED INCOME STATEMENT PARTICULARS (INR Mn) H1-FY27 H1-FY26 # Y-O-Y Operational Revenue 11,462 8,045 42.5% Operating Expenses 8,789 6,344 38.5% EBITDA 2,673 1,701 57.1% EBITDA Margin (%) 23.32% 21.14% 218 Bps Depreciation and Amortisation 606 476 27.3% Finance costs 278 175 58.9%
Slide 25: Historical Consolidated Income Statement
HISTORICAL CONSOLIDATED INCOME STATEMENT PARTICULARS (INR Mn) H1-FY27 FY26 FY25* FY24* Operational Revenue 11,462 18,194 21,151 18,526 Operating Expenses 8,789 14,170 16,507 14,666 EBITDA 2,673 4,024 4,644 3,860 EBITDA Margin (%) 23.32% 22.12% 21.96% 20.84% Depreciation and Amortisation 606 1,043 86
Slide 26: Historical Consolidated Balance Sheet
HISTORICAL CONSOLIDATED BALANCE SHEET ASSETS (INR Mn) FY25* FY26 H1-FY27 EQUITY & LIABILITIES (INR Mn) FY25* FY26 H1-FY27 Non-current assets Equity share capital 453 453 453 Property, plant and equipment 10,887 13,359 14,092 Other equity 19,446 20,793 22,094 Capital work-in-progress 3,066 3,052 3,08
Slide 27: Consolidated Financial Highlights
CONSOLIDATED FINANCIAL HIGHLIGHTS OPERATIONAL INCOME (INR Mn) EBITDA (INR Mn) & EBITDA MARGINS PAT (INR Mn) & PAT MARGINS (%) (%) 21,151 4,644 18,526 18,194 2,724 3,860 4,024 23.3% 2,169 2,673 1,747 11,462 22.0% 22.1% 1,476 20.8% 12.9% 12.9% 11.7% 9.6% FY24* FY25* FY26 H1-FY27 FY24* FY25* FY26 H1-FY
Slide 28: Capital Market Information
CAPITAL MARKET INFORMATION SHARE PRICE UP TO 30th September, 2026 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% -40.0% -50.0% Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Aarti Sensex PRICE DATA (AS ON 30th September, 2026) INR SHAREHOLDING PATTERN (A
Slide 29: Disclaimer
DISCLAIMER Aarti Pharmalabs Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all event
Slide 30: Thank You
THANK YOU AARTI PHARMALABS LIMITED