Date: 06.08.2026

Financial Results (Standalone & Consolidated)

Q1 FY27 Performance Highlights:

  • Total Operating Income: ₹942 Mn, up 31.2% YoY from ₹718 Mn in Q1 FY26
  • Total Operating Income down 10.5% QoQ from ₹1,053 Mn in Q4 FY26 due to war situation in Mid East and serious logistic challenges
  • EBITDA: ₹34 Mn, down 40% YoY from ₹57 Mn in Q1 FY26
  • EBITDA Margin: 3.7% vs 7.9% in Q1 FY26 (430 basis points decline)
  • Profit After Tax (PAT): ₹(40) Mn loss vs ₹(19) Mn loss in Q1 FY26 (114.2% decline)
  • PAT Margin: (4.3%) vs (2.6%) in Q1 FY26
  • EPS: (₹0.75) per share (not annualized) vs (₹0.38) in Q1 FY26
  • Other Income: ₹10 Mn vs ₹15 Mn in Q1 FY26 (-32.8%)
  • Finance Cost: ₹36 Mn, up 10.3% YoY from ₹33 Mn
  • Depreciation: ₹54 Mn, up 10.4% YoY from ₹48 Mn
  • Profit Before Tax (PBT): ₹(56) Mn loss vs ₹(24) Mn loss in Q1 FY26

Business Mix Analysis:

  • Pharma business contributed 72% (₹673 Mn) of total revenue
  • Nutraceutical business contributed 28% (₹268 Mn) of total revenue
  • Pharma business increased 20% YoY while Nutra business increased 71% YoY
  • Export business share: 84% of total revenue
  • Export business increased 31.7% YoY while domestic business grew 24% YoY

Innovative Products Performance:

  • Innovative Product revenue (NIP + OTF): ₹138 Mn, 3x YoY growth
  • Contribution to Total Operating Income: 15% vs 6% in Q1 FY26
  • Including dossier licensing fees: 18% of Total Operating Income

R&D & Innovation

R&D Investment:

  • Total R&D allocation: ₹82 Mn focused on product development, dossier upgrades, registrations & infrastructure
  • ₹34 Mn allocated specifically for BE studies & regulatory filings
  • R&D team: 82 members with 71 Postgraduates and 2 PhDs
  • Includes 27 people from Regulatory Affairs

Product Pipeline Status:

NIP Product Pipeline (EU/UK):
  • 12 products in active development across 7 therapy areas
  • 3 regulatory approvals secured
  • Therapy areas include: Gastrointestinal, Anti-Coagulant, CNS, Urology, Rheumatoid Arthritis, Anti-Infective, Analgesic, Skin Disorders
  • Products in development: Product 2 (Dabigatran Etexilate), Di-Methyl Fumarate, Product 5, Product 6, Azithromycin Susp., Product 8, Product 9, Product 10, Product 11, Product 12
OTF Product Pipeline (EU/UK):
  • 5 OTF products across 3 therapy areas
  • 3 regulatory approvals secured

Regulatory & Compliance Update

EU-GMP CAPA Remediation Status:

Q2 FY26 (Complete):
  • June/July EU GMP Inspection
  • Onboarding External Consultant for CAPA Plan
  • Submission of comprehensive CAPA Remediation Plan
  • Capital Expenditure Orders placed for key systems needed
  • Contract Manufacturing for alternate site with accreditations finalized for Star Product 1
Q3 FY26 (Complete):
  • Submission of CAPA Progress for up to October 2026
  • Appointment of European Consultant for CAPA Remediation
  • Strengthening Team in QMS
  • Training of Team
  • Additional CMO for specific markets being finalized
  • Hiring of QA Head
Q4 FY26 (Complete):
  • Independent assessment by European + Indian Consultant
  • Effectiveness check on CAPA remediation progress
  • Validation by Consultants
  • Submission of CAPA Progress
  • Initiatives on triggering Audits from other regions
  • Filing Batches from CMO Partners for Star Product 1
  • Pre-Audit by External Consultants
  • Potential Re-Audit of facility by EMA inspectors
Q1 FY27 (Complete):
  • Registration of Products in Pharmerging & RoW Markets
  • Feedback on other Audits: Re-Audit of facility by EMA inspectors
  • Launch of Star Product 1 in Alternate Markets
  • Extend alternate manufacturing strategy to other markets
Q2 FY27 (In Progress):
  • CAPA Submission planned after receipt of final report from EMA inspectors
  • Secure order for Star Product 1 in other developed markets
  • Start planning for supplies to EU and UK markets by planning for Raw Material availability and production readiness

Expense Analysis

Expense Bridge Q1 FY26 to Q1 FY27:

  • Increased utility and employee costs impacted EBITDA margins
  • Gross contribution margins remained in line with margins for FY26 and previous quarter
  • Lower EBITDA margins primarily due to increased utility and employee costs
  • Increase in depreciation and finance costs are outcome of investments to support next phase of scale-up

Shareholding

Ownership Structure (June 2026):

  • Ownership percentage data shown in presentation but specific percentages not provided in text
  • Traded volume data shown for BSE + NSE but specific numbers not provided in text

Investor Relations & Contact

Company Contacts:

  • Mr. Zain Daud: zain.daud@zimlab.in, +91 9022 434631
  • Address: Sadoday Gyan (Ground Floor), Opposite NADT, Nelson Square, Nagpur, Maharashtra 440013

Investor Relations Contacts (Go India Advisors):

  • Ms. Deepika Sharma: deepika@goindiaadvisors.com, +91 8451 02951
  • Ms. Priya Sen: priya@goindiaadvisors.com, +91 8334 841047
  • Ms. Sheetal Khanduja: sheetal@GoIndiaAdvisors.com, +91 97693 64166

Corporate Governance

Company Secretary & Compliance Officer:

  • Piyush Siddheshwar Nikhade
  • Membership No. A38972
  • Digital signature verification provided