Transcript of Earnings Call for Q2H1FY27

Ref: BHL/ STEX 50/ 2026-27 Date: October 27, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers 5th Floor, Exchange Plaza, Dalal Street Bandra Kurla Complex Bandra (East) Mumbai – 400 001 Mumbai-400051 Scrip Code: 539872 Symbol: BAJAJHCARE Sub: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015- Transcript of Earnings Call for Q2&H1FY27 Dear Sir/Madam, In continuation of our letter dated October 14, 2026, we hereby submit the transcript of the Earnings Call held on Monday, October 19, 2026, in respect of the financial performance of the Company for the quarter and half year ended September 30, 2026. The transcript of the Earnings Call is also available on the website of the Company at https://www.bajajhealth.com/stock-exchange-intimation-2026-27/ Kindly take the above information on record. Thanking you. Yours faithfully, For and on behalf of Bajaj Healthcare Limited Monica Tanwar Company Secretary & Compliance Officer Encl: as above “Bajaj Healthcare Limited Q2 & H1 FY27 Earnings Conference Call October 19, 2026 MANAGEMENT: MR. ANIL JAIN – MANAGING DIRECTOR – BAJAJ HEALTHCARE LIMITED MR. ROHAN PAREKH – CHIEF FINANCIAL OFFICER – HEALTHCARE LIMITED MODERATOR: MS. PRACHI AMBRE – MUFG INVESTOR RELATIONS Page 1 of 15 Bajaj Healthcare Limited October 19, 2026 Moderator: Ladies and gentlemen, good day and welcome to Bajaj Healthcare Limited Q2 & H1 FY27 Earnings Conference Call. As a reminder, all participants' 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 this 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 over the conference to Ms. Prachi Ambre from MUFG Investor Relations. Thank you and over to you, ma'am. Prachi Ambre: Thank you, Iqra. Good evening, everyone. On behalf of Bajaj Healthcare Limited, I extend a warm welcome to all the participants on the Q2 & H1 FY27 Earnings Conference Call. Today, on the call, we have Mr. Anil Jain, Managing Director and Mr. Rohan Parekh, Chief Financial Officer to provide insights on the company's operational and financial performance. 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 on our expectations, beliefs and opinions as of today. These statements are not a guarantee of our future performance and involve unforeseen risks and uncertainties. With this, I would like to hand over the call to Anil sir for his opening remarks. Over to you, sir. Thank you. Anil Jain: A very good evening to everyone. On behalf of Bajaj Healthcare team, it is my privilege to welcome you to our Earning Call for the second quarter and the first half of 2027. With us, we have today our Chief Financial Officer, Mr. Rohan Parekh. Coming to the quarter, Q2 27 was a strong quarter. Revenue from operations grew 18.9% Y-o-Y to INR175.9 crores and profit after tax grew by 26.9%. For the first half, revenue grew about 15% and PAT about 21% in the line with the guidance we shared with you last quarter. Beyond the numbers, the quarter shows good business momentum and progress across our strategic priorities. Our formulation business rebounded strongly, growing 82% year-on-year, as we had expected at the end of Q1. API export grew 28.5% year-on-year. Together, API export and formulation crossed INR100 crores in quarterly revenue and now makes up to close to 60% of our revenue. Domestic API revenue moderated during this quarter but grew 10.1% year-on-year for the first half. Recently, we have received an approval from Honourable NCLT for the acquisition of Genrx Pharmaceuticals Private Limited. It strengthened our formulation capabilities and broadens our portfolio as we build our formulation franchises. The quarter also marked an important milestone in our specialty products journey. Bajaj Healthcare became the first company in India to receive DCGI approval to manufacture and market Cenobamate API tablet in six different strengths. We launched the tablets commercially in September through our eight marketing partners. Cenobamate is a next- generation anti-seizure medicine for the adult with partly onset seizures. Page 2 of 15 Bajaj Healthcare Limited October 19, 2026 It is a clear example for the differentiated specialty portfolio we are building. We also continue to widen our regulatory reach in the key international markets. In Brazil, we are progressing with ANVISA GMP certification process and have identified 17 products for CBPF submission. In Europe, we have filed 12 CEP till date, of which 8 have been approved and 4 are under review. In South Korea, we secured KDMF approval for two more products during this quarter, taking the total registration with the KDMF to 17. In Egypt, three products are registered under the Whitelist process with 10 more planned in later phase. Alongside with this, we continue to invest in our manufacturing capabilities. The company is constructing a state-of-the-art commercial peptide manufacturing plant scheduled to complete by 31st March 2027 with the installed capacity of 250 kg per annum. This facility will be supported with solid-phase synthesis and also with fermentation technology, focusing manufacturing of pharmaceutical, nutraceutical and cosmetic peptides. As planned, our oncology API plant will be commencing from second quarter of financial year 2028. The company has expanded its R&D facility, supported by a team of over 80 experienced professionals. The R&D center focused on new product development, oncology, peptides and API research. The company has increased its R&D spending to approximate 2.5% to 3%. The company is establishing a dedicated formulation plant at Nashik with a facility for solid oral dosage form: tablets, sachets and capsules; nasal; oral oncology; nutraceutical; and ointment. The plant is expected to operational by first quarter of FY28. The company has established a business vertical focus on the formulation export with the objective of registering the marketing branded generic formulation across rest of the world. Dossiers have been submitted in several markets, including Africa, Myanmar, Philippines, Vietnam and Latin America. The company has established a strong business foundation in industry presence and operational capabilities. Building up this legacy, the company is now strengthening its leadership structure by appointing a key management person, who are experienced professional with proven expertise in their respective fields. Last year, we have appointed Mr. Shreekumar Nair, who has joined as a Chief Operating Officer with more than 40 years of experience in the pharma operations. Further, we have appointed Mr. A. G. Prasad leading our Institutional Sales and Marketing, having 35 years of experience. Also, we have appointed Mr. E. J. Babu to lead our Global API Business, having 33 years of experience in API industry. Apart from this, we have appointed Mr. Byju, who is taking care of our R&D and he is our R&D Head; Mr.Sujoy Banerjee for the ROW branded generic formulation; and Mr. Rahul Sanap as our Oncology Sales and Business Head for our oncology division. These initiative marks an important milestone in our company journey towards building a more professional management, institutional-driven, and future-ready organization. Page 3 of 15 Bajaj Healthcare Limited October 19, 2026 Looking ahead, our aim is to reach a revenue of INR900 crores to INR1,000 crores by FY29 with an EBITDA margin of 18% to 21%. With that, I will hand over to Mr. Rohan Parekh, who will take you to the financial performance for the quarter and the first half in more detail. Thank you, everyone. Rohan Parekh: Yes. Thank you, Anil sir, and a good evening to everyone. Let me take you through our financial performance. Revenu [Showing first 8,000 characters — download PDF for full document]