Analysts/Institutional Investor Meet/Con. Call Updates

17th September 2026 IOLCP/CGC/2026 National Stock Exchange of India Ltd BSE Limited Exchange Plaza, Plot no. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (E) Dalal Street Mumbai - 400 051 Mumbai – 400 001 Security Symbol: IOLCP Security Code: 524164 Subject: Transcript of Business Update Call with Investors and Analysts Dear Sir/Madam, Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of the Business Update Conference Call held on Friday, 11th September 2026, with investors and analysts. The transcript is also available on the Company’s website at www.iolcp.com You are requested to take the above information on record. Thanking You, Yours faithfully, for IOL Chemicals and Pharmaceuticals Limited Abhay Raj Singh Sr. Vice President & Company Secretary “IOL Chemicals and Pharmaceuticals Limited Business Update Call” September 11, 2026 MANAGEMENT: MR. PARDEEP KUMAR KHANNA – CHIEF FINANCIAL OFFICER – IOL CHEMICALS AND PHARMACEUTICALS LIMITED MR. ABHAY RAJ SINGH – SENIOR VICE PRESIDENT AND COMPANY SECRETARY – IOL CHEMICALS AND PHARMACEUTICALS LIMITED MR. KUSHAL KUMAR RANA – DIRECTOR WORKS – IOL CHEMICALS AND PHARMACEUTICALS LIMITED MR. RAKESH MAHAJAN – FINANCE ADVISOR AND STRATEGIC HEAD – IOL CHEMICALS AND PHARMACEUTICALS LIMITED MODERATOR: MR. VAIBHAV VIJAYWARGIYA – MUFG INVESTOR RELATIONS Page 1 of 14 IOL Chemicals and Pharmaceuticals Limited September 11, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the IOL Chemicals and Pharmaceuticals Limited Business Update Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Vaibhav Vijaywargiya from MUFG Investor Relations. Thank you, and over to you, sir. Vaibhav Vijaywargiya: Thank you, Steve. Good afternoon, everyone, and welcome to the business update call of IOL Chemicals and Pharmaceuticals Limited. Joining us today are Mr. Pardeep Kumar Khanna, who is the Chief Financial Officer; Mr. Abhay Raj Singh, who is Senior Vice President and Company Secretary; Mr. Kushal Kumar Rana, Director Works; and Mr. Rakesh Mahajan, who is Financial Advisor and Strategic Head, to provide an overview of the key business updates recently announced by the company. Before we begin the call, I would like to give a short disclaimer. This call may contain some of the forward-looking statements, which are completely based upon our beliefs and expectations as of today. These statements are not a guarantee of our future performance and involve unforeseen risks and uncertainties. With this, I would now like to hand over the call to Abhay sir for his opening remarks. Over to you, sir. Thank you. Abhay Raj Singh: Thank you very much, Vaibhav. Good afternoon, everyone, and thank you for joining us. On behalf of IOL Chemical and Pharmaceuticals Limited, I welcome you all to this business update call. We are pleased to connect with you following the recent announcements regarding three strategic growth initiatives, involving a proposed investment of approximately INR500 crores. These initiatives reflect our confidence in the long-term growth opportunities across our pharmaceuticals and specialty chemicals businesses. Let me briefly put these announcements into perspective. First, we are expanding our Ibuprofen capacity by 6,000 MTPA, taking our total capacity to 18,000 MTPA. Our existing facilities are operating at high utilization level, and we continue to see increasing requirements from established customers as well as opportunities available globally. The new facility will be a fully backward integrated, leveraging one of IOL's key competitive strengths, and is expected to be commissioned by December 2027. Second, we have established a new CDMO facility with a capacity of approximately 1,500 million tablets per annum or equivalent volume of Direct Compressible Grade. This marks our entry into CDMO formulations segment and build our established customer relationships, primarily in the European region. The facility has received the EU GMP certification, and commercialization is expected during Q3 FY27. Third, we are also establishing a dedicated specialty chemical facility under a long-term tolling arrangement with a leading global chemical company. This is a customer-led investment, providing visibility of long-term manufacturing demand. Page 2 of 14 IOL Chemicals and Pharmaceuticals Limited September 11, 2026 Taken together, these initiatives are aligned with the strategy of strengthening our core businesses, accelerating diversification, and selectively pursuing adjacent customer-led opportunities. Collectively, these initiatives are expected to contribute an incremental 25% to around 30% to our top line over the coming years. Importantly, the proposed investments are planned to be funded through internal accruals in line with our approach towards disciplined capital allocation and our confidence in the company's cash-generation capability. Around 30% of overall funding requirements has already been incurred. We, therefore, see these announcements not as three isolated projects, but as part of IOL's broader journey of scale, diversification, backward integration, and deeper customer relationships. With this overview, we now would be happy to take your questions and discuss these initiatives in great detail. Thank you. Moderator: Thank you. We will now begin the question-and-answer session. The first question comes from the line of Disha with Sapphire Capital. Please go ahead. Disha: Hello. Am I audible, sir? Moderator: Yes, ma'am, you are audible. Disha: Yes, thank you so much, sir, for this opportunity. A couple of questions, sir. Firstly, on this Ibuprofen capacity that we're setting up, it's around INR350 crores capex that we are planning, right? When is this capacity is going to come online and what sort of asset turns are we looking at here? Abhay Raj Singh: The idea is that this will be commercialized by December 2027. The asset… Abhay Raj Singh: It’s about 1.75x Disha: Hello? Abhay Raj Singh: Yes, please. You heard? Disha: Yes. So, you are saying around INR600 crores to INR620 crores sort of peak revenue we can take, right? Abhay Raj Singh: Revenue is around 1.75x of the investment at peak utilization value, what we foresee. And, again, the revenue, what is going to be is a question which depends on so many other factors as well. So, this is tentative. Generally, our pharmaceuticals investment has 1.75x to 2x top line. But again, as a disclaimer, this is a mix of so many other factors, including the geography where we are selling, the customers, the long-term arrangement and the short-term arrangement, and obviously, the market cycles as well. Disha: Correct, correct. Okay, but generally, we see 1.75x to 2x, correct? Page 3 of 14 IOL Chemicals and Pharmaceuticals Limited September 11, 2026 Abhay Raj Singh: Correct. Yes, that's correct. Disha: And sir, for the next year, how quickly will we be able to, like, utilize it? What sort of utilization will we be targeting? So for the next year, we'll only have the capacity for one for just one quarter. By FY29, what sort of utilization will we be looking at, any sort of color on that? Abhay Raj Singh: Yes, this is Q3 of '28, it will be commercialized. But in FY28, I think around 25% utilization we can reach. And the optimum utilization will happen in the '28 and '29. Disha: And what will be that number, sir, around 80%-85%? Abhay Raj Singh: As on date? Disha: No, '28-'29. So, the optimal, Yes. Abhay Raj Singh: Optimal is more than 80%. Disha: Correct. Okay. Okay, and sir... Abhay Raj S [Showing first 8,000 characters — download PDF for full document]