Date: 23 June 2026

Business Structure and Holdings

Eris Lifesciences Limited is the holding company with the following key subsidiaries:

  • Eris Therapeutics Limited
  • Eris Oaknet Healthcare Private Ltd (Step-down subsidiary)
  • Aprica Healthcare Limited (Step-down subsidiary)
  • Eris Healthcare Private Limited
  • Eris M. J. Biopharm Private Limited
  • Eris BioNxt Private Limited (Earlier known as Chemman Labs Private Ltd)
  • Levim Lifetech Private Limited (JV)
  • Swiss Parenterals Limited
  • Eris Pharmaceuticals Limited (Earlier known as Eris Pharmaceuticals Private Limited)

Financial Results (Standalone & Consolidated)

P&L Summary (INR Crore):

| Fiscal Year | Revenue | Gross Profit | Gross Profit Margin | Operating EBITDA | EBITDA Margin | PBT | PBT Margin | PAT | PAT Margin | EPS (₹) |

| FY19 | 982 | 828 | 84.4% | 345 | 35.1% | 317 | 32.3% | 291 | 29.6% | 21.15 |

| FY20 | 1,074 | 903 | 84.0% | 368 | 34.3% | 331 | 30.9% | 297 | 27.6% | 21.61 |

| FY21 | 1,212 | 974 | 80.3% | 431 | 35.5% | 394 | 32.6% | 355 | 29.3% | 26.16 |

| FY22 | 1,347 | 1,089 | 80.8% | 485 | 36.0% | 442 | 32.8% | 406 | 30.1% | 29.89 |

| FY23 | 1,685 | 1,333 | 79.1% | 537 | 31.9% | 405 | 24.0% | 374 | 22.2% | 28.10 |

| FY24 | 2,009 | 1,629 | 81.1% | 675 | 33.6% | 431 | 21.5% | 397 | 19.8% | 28.82 |

| FY25 | 2,894 | 2,180 | 75.3% | 1,017 | 35.2% | 489 | 16.9% | 375 | 12.9% | 25.85 |

| FY26 | 3,129 | 2,334 | 74.6% | 1,120 | 35.8% | 656 | 21.0% | 648 | 20.7% | 36.09* |

*PAT from operations = ₹498 crore; Reported PAT includes One-off upside ₹150 crore from a deferred tax adjustment

Cash Flow Generation:

| Fiscal Year | Operating Cash Flow (OCF) | OCF as % of EBITDA |

| FY19 | 223 | 64.7% |

| FY20 | 271 | 73.6% |

| FY21 | 375 | 87.2% |

| FY22 | 378 | 78.0% |

| FY23 | 292 | 54.4%* |

| FY24 | 486 | 72.0% |

| FY25 | 1,065 | 104.7% |

| FY26 | 538 | 48% |

*OCF as % of EBITDA adjusted for Acquisition related one-off items = 75%

Balance Sheet Summary (INR Crore):

| Item | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |

| Share Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |

| Reserves | 1,137 | 1,283 | 1,563 | 1,895 | 2,182 | 2,573 | 2,841 | 3,884 |

| Shareholders' Fund | 1,151 | 1,296 | 1,576 | 1,908 | 2,196 | 2,586 | 2,854 | 3,903 |

| Borrowed Funds** | 176 | 6 | 4 | 80 | 869 | 2,772 | 2,466 | 2,350 |

| Tangible Assets | 56 | 87 | 78 | 192 | 377 | 558 | 729 | 880 |

| Intangible Assets | 707 | 792 | 778 | 753 | 2,212 | 3,781 | 4,645 | 4,479 |

| Investments + Cash & Bank Balances | 363 | 145 | 416 | 635 | 95 | 1,416 | 238 | 77 |

**Borrowed Funds include Financial Leases

Return Metrics:

RoCE (Return on Capital Employed): 33% (FY19), 30% (FY20), 34% (FY21), 34% (FY22), 20% (FY23), 19% (FY24), 20% (FY25), 19%* (FY26)

*RoCE excludes the impact of M&A related amortisation

RoE (Return on Equity): 44% (FY19), 30% (FY20), 31% (FY21), 33% (FY22), 22% (FY23), 20% (FY24), 15% (FY25), 15%^ (FY26)

^Calculated through PAT from Operations

Working Capital (in days):

| Item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |

| Receivables | 31 | 53 | 42 | 44 | 63 | 77 | 58 | 79 |

| Inventory | 31 | 24 | 28 | 32 | 28 | 34 | 42 | 51 |

| Payables | 31 | 34 | 31 | 32 | 27 | 40 | 42 | 38 |

| Net Working Capital | 31 | 43 | 40 | 44 | 65 | 71 | 58 | 92 |

Domestic Branded Formulations Performance

  • Among Top-20 Indian pharmacos in less than 20 years since inception
  • Strong presence in Super-Specialty segment accounting for 80% of revenue
  • Top-5 market position in Anti-Diabetes therapy with 6% market share
  • Leading position in Insulins (RHI and Glargine) with 16% market share
  • Domestic CVM/TAM expanded by 43% from ₹82,000 Cr. to ~₹1,17,000 Cr. during Mar-22 to Mar-2026
  • MAT Mar'22 Revenue = ₹1,662 cr., MAT Mar'26 Revenue = ₹3,318 Cr.
  • Commercial engine consisting of ~1,200 MRs and ~500 Managers

Power Brands Performance:

  • 6 brands with ₹100+ crore revenue
  • 10 brands with ₹50-100 crore revenue

LOE (Loss of Exclusivity) Success Stories:

  • Vildagliptin - Launched Dec-19, Rank #2 among BGx
  • Dapagliflozin - Launched Oct-20, Rank #4 among BGx
  • Linagliptin - Launched Feb-22, Rank #2 among BGx
  • Sitagliptin - Launched Jul-22, Rank #11 among BGx
  • FCM Injection - Launched Jul 22, Rank #6 among BGx
  • Empagliflozin - Launched Sep 23, Rank #1 among BGx

Sundae Gx Semaglutide Launch Performance

  • Strong start for Eris in Gx Sema injectables
  • April 2026 performance in Gx Semaglutide (IQVIA data):
  • 22% share of prescriptions
  • 22% share by sale units - Rank #1
  • 13% share by sale value - Rank #2
  • Eris clocked Pens market share in Apr-26 of 11% (volume) and 6% (value) despite mid-April launch with just one SKU (2 mg)
  • Market size estimate in Month-1 = 1.5 to 2 lakh active users of Gx Sema
  • Over 75% of Sema prescriptions driven by Diabetes (rather than Obesity)
  • Vials share of injectable Gx Sema units ~21% in Apr-26; expecting to settle at 25-30%

Launch Timeline:

  • Sundae vial in Mar-26
  • Sundae Pen - 2 mg in mid-April
  • Sundae Pen - 4 mg in early May
  • Obesity SKU - expected in July-26

Pricing:

  • Vials priced at ₹1,290/unit
  • Pens priced at ₹3,200/unit for both 2 mg & 4 mg SKUs

R&D, Technology & Manufacturing Capabilities

R&D Center:

  • State-of-the-art 11,000 sq. ft. center
  • Multidisciplinary team of ~65 scientists
  • Dedicated labs for Formulation Development, Analytical Development, Technology Transfer, Regulatory and Research Quality Assurance
  • Co-location with flagship manufacturing facilities

Manufacturing Facilities:

Six manufacturing units across wide range of tech/dosage forms:

1. AMD Campus - Injectables, Dermatology and Oral Solids (Ahmedabad)

2. Unit 1 - General Injectables - Ampoules, Vials, Dry Powders, PFS, Lyophilised (Ahmedabad)

3. Unit 2 - Beta-lactams Dry Powder - Dedicated blocks for Cephalosporins, Penicillins, Penems (Ahmedabad)

4. Unit-3 (general injectables) under construction - Planned commissioning in Q1 FY28

5. Biologics Drug Substance - Chennai

6. Biologics Fill-Finish - Bhopal

Production Capacities - Unit 1 (General Injectables):

  • Liquid Ampoules: 8 million
  • Liquid Vials: 3.6 million
  • Dry Powder Vials: 2.6 million
  • Prefilled Syringes: 1.3 million
  • Lyophilized Vials: 800,000
  • Inhalation: 200,000

Production Capacities - Unit 2 (Beta-lactams):

  • Cephalosporins: 4.2 million units per month
  • Penicillins: 2.6 million units per month
  • Carbapenems: 3.6 million units per month

Biologics Manufacturing - Chennai (Drug Substance):

  • Plot area ~5 acres
  • Installed capacity of 100 kg+ per annum output of niche recombinant biologicals
  • EU-GMP, ANVISA and PIC/s approvable
  • Suitable for peptides such as GLP-1, Insulin Analogs, recombinant proteins, PEGylated proteins & Antibody Drug Conjugates

Biologics Manufacturing - Bhopal (Drug Product):

  • Capabilities across Liquid Vials, Prefilled Syringes, Lyophilised Vials, Liquid Cartridges
  • Presently manufacturing Vials and Liquid Cartridges for Insulin Glargine and RHI
  • MABs block to commission Vials and Prefilled Syringes from H1 FY27
  • Total annual capacity (by mid 2027):
  • Liquid Cartridges (Insulins/GLP) = 75 million
  • Liquid/Lyo Vials (Insulins) = 130+ million
  • MABs Vials = 12 million
  • MABs Prefilled Syringes = 12 million

ANVISA Approved Multi-Dose Manufacturing Campus (Ahmedabad):

  • Oral Solids - 200 mn per month
  • Oral Liquids - 1.5 mn per month
  • Topicals - 7 mn per month
  • Injectables - 3 mn per month

International Business

  • Presence across 70+ countries across Latin America, Africa, Asia Pacific, Middle East and CIS countries
  • Comprised 11% of consolidated revenue in FY26
  • ANVISA approval for injectable facilities in Aug 2025 paves way for Brazil market launch

EU-GMP Inspection Outcome:

  • Both sites inspected by EU regulatory agency during 9th to 13th March '26
  • Received list of non-compliance observations in April '26
  • Observations are procedural in nature, requiring improvement to comply with GMP principles under Directive (EU) 2017/1572
  • Minimal impact on existing business
  • Delay in commercialization of EU-CDMO product pipeline

Guidance and Outlook

Domestic Branded Formulations (DBF) Guidance:

  • FY26 Base revenue = ₹2,778 cr.
  • FY27 growth guidance = 1.3x of CVM growth
  • DBF EBIDTA margin 37% - similar level as FY26
  • H2 margin expected to be higher than H1

International Business Guidance:

  • Remediation of EU Audit observations remains priority
  • FY27 guidance (existing business):
  • Revenue growth 18-20%
  • EBIDTA margin at similar level as FY26
  • EU-CDMO products commercialization - post (re)inspection and (re)approval of facilities