Date: July 31, 2026

Financial Results (Standalone & Consolidated)

Q1 FY27 Performance Highlights:

  • Revenue: ₹12,654 million, up 13.0% YoY from ₹11,197 million in Q1 FY26
  • Gross Margins: ₹7,702 million, up 14.0% YoY from ₹6,755 million
  • Gross Margin Percentage: 60.9%, improved 60 basis points from 60.3% in Q1 FY26
  • EBITDA: ₹2,298 million, up 5.4% YoY from ₹2,181 million
  • EBITDA Margin: 18.2%, decreased 130 basis points from 19.5% in Q1 FY26
  • Operational PAT: ₹1,231 million, up 8.0% YoY from ₹1,140 million
  • Operational EPS: ₹13.4, up 8.0% YoY from ₹12.4
  • Reported PAT: ₹1,655 million, up 56.7% YoY from ₹1,056 million
  • Reported EPS: ₹17.0

Geopolitical Impact: EBITDA was impacted by approximately ₹131 million due to elevated freight and operating costs from geopolitical disruptions.

Segment Performance:

  • US Market Revenue: ₹6,282 million ($68 million), remained steady despite new entrants in recent launches
  • Ex-US Markets Revenue: ₹5,875 million ($63 million), grew 17% YoY from ₹5,017 million ($59 million)
  • Total commercialized products: 72
  • Company ranks among top 3 in 37 products, contributing ~70% of total US revenue

Product Launches & Pipeline:

  • Launched 2 products in Q1 FY27
  • Filed second nasal spray product (controlled substance) in May 2026
  • Total ANDAs filed: 228, Total ANDAs approved: 210 (152 products) as of June 2026

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

  • Board meeting commenced at 10:30 hrs IST and concluded at 12:30 hrs IST on July 31, 2026
  • Considered and approved unaudited financial results for quarter ended June 30, 2026

Disinvestment / Strategic Actions

  • Divested majority stake in Pivot Path (captive GCC) during the quarter, unlocking ₹1,000 million of value
  • Company retained meaningful participation in Pivot Path's future growth
  • Strides retained interest in OneSource currently worth ₹3,100 million (as of July 30, 2026)

Debt & Financial Position

  • Reported Net Debt: ₹14,246 million as of June 2026 (reduced by ₹119 million during quarter)
  • Net Debt/EBITDA: 1.52x
  • Gross Debt: ₹17,086 million (Working Capital Loans: ₹10,940 million; Long Term Loans: ₹6,145 million)
  • Cash and Cash Equivalents: ₹2,840 million
  • Q1 FY27 Operating Cashflow: ₹1,087 million
  • Finance Cost: Net Finance Cost of ₹361 million (Interest Cost: ₹325 million; Other Finance Charges: ₹81 million; Finance Income: ₹44 million)

Credit Rating Update:

  • CARE Ratings upgraded Long-Term Bank Facilities rating to CARE A+; Stable from CARE A; Positive

Business Outlook

US Market (Generics):

  • Aspire to achieve North America Business Revenue of ~$375 million by FY28
  • Multiple products identified from dormant and acquired ANDAs portfolio under regulatory phases of PAS for source change
  • Focus on building portfolio of Control Substances, Nasal Sprays, Transdermal Patches and Films
  • H2 FY27 expected to be stronger with new launches and product approvals

Ex-US Markets:

  • Expansion of product portfolio and new customer acquisitions to drive growth
  • Significant regulatory filings in new territories commenced
  • Focus on portfolio maximization strategies and channel partner expansion

Overall Strategy:

  • Focus on operating cashflow generation
  • Committed to drive long-term growth through impactful R&D and Capex programs
  • Focus on improving Net Debt/EBITDA ratio despite challenging external environment

Sustainability Update

  • Improved EcoVadis sustainability score to 68/100, a 19-point increase over previous year

Investor Communication

Earnings Call Details:

  • Date: July 31, 2026 at 5:00 pm IST
  • Management Participants: Badree Komandur (Managing Director & Group CEO) and Vikesh Kumar (Group CFO)