Transcript of Analysts/Investors earning call held with public at large on August 21, 2026.

AI summary - Q1 FY27 revenue grew 15% y-y to INR304 Cr; EBITDA improved to INR25 Cr from INR10 Cr in Q1 FY26 - FY26 combined revenue INR1,233 Cr vs INR1,398 Cr in FY25; gross margin declined to 32% from 36% - 7-ACA plant commissioning targeted by March 2027; ramp-up to 80-100% utilization within first year - Cefiderocol facility commissioning by Dec 2026; product approval expected Q3 FY28 subject to DCGI trial waiver - Exblifep volumes growing steadily in Europe; licensing value in Russia approx. USD178 million over 10 years - Industry pricing pressure persists; better demand expected in H2 FY27, especially in regulated markets - Capex for FY27 mainly INR750 Cr for 7-ACA and USD20-25 million for cefiderocol project - AMS division EBITDA loss reduced to INR0.5 Cr in Q1 FY27; revenue INR5 Cr - Multiple analyst queries on 7-ACA ramp-up and market pricing; management expects stable prices and focus on efficiency - Long-term growth driven by combined Orchid-Dhanuka platform, backward integration, and new product launches