Q1FY2026-27 Transcript for the Earnings call held on 14th August, 2026

AI summary - Q1 FY27 consolidated revenue INR794.4 Cr, down from INR1,390.6 Cr YoY due to lower Lenalidomide sales - EBITDA INR245.7 Cr, margin improved QoQ to 30.9% from cost control and business performance - Consolidated PAT INR206.5 Cr; normalized PAT grew 34% QoQ excluding prior tax benefit - Adcock Ingram (35.75% holding) revenue INR1,582.8 Cr, PAT INR242.2 Cr; NATCO share INR84.3 Cr - Acquired additional 13.25% in Adcock, total 49% stake - Domestic formulations revenue INR136 Cr; Brazil revenue grew 180% to INR178 Cr - Crop Health Sciences expects breakeven in FY27; Q2 to improve after seasonal delay - FY27 revenue guidance INR3,300-3,400 Cr; PAT guidance INR750 Cr maintained - Capex run rate INR250-300 Cr annually; evaluating acquisitions requiring fundraise of INR2,000 Cr - Semaglutide brand sales ~INR2 Cr/month in India; market competitive and currently breakeven - Two US launches planned in FY27 with exclusivity; pipeline includes 8-10 ANDAs/year, 1-2 FTF expected - Long-term R&D focus on assets maturing 2028-2035 with high return potential - Synergies with Adcock in R&D and pipeline expected to drive growth over 2-3 years - No filings for semaglutide in Canada and Brazil; Brazil oncology pipeline driving growth - Demerger of Crop Health Sciences delayed to March 2027 due to fundraising - No material update on litigation for olaparib; carfilzomib launch on track but confidential - Management committed to increasing Adcock stake if opportunity arises - Land monetiza…