Investor Presentation for the Quarter and Half Year ended on September 30, 2026.

Date: October 29, 2026 Listing Department BSE Limited Department of Corporate Services, Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai-400001 Scrip Code: 541096 Dear Sir/Madam, Subject: Investor Presentation for the quarter and Half Year Ended on September 30, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Investor Presentation for the quarter and half year ended on September 30, 2026. We are enclosing herewith the Investor Presentation for your information and record. The same will be made available on the Company's website at www.bplindia.in Kindly take the same on your record. Thanking You, Yours faithfully, FOR BHARAT PARENTERALS LIMITED, Mr. Sharmin Soni Company Secretary & Compliance Officer ICSI Membership No: A-75694 Encl: As above INVESTOR PRESENTATION Q2 FY27 Results & Business Update BSE: 541096 · NSE: BPLPHARMA · ISIN: INE365Y01019 October 2026 DISCLAIMER Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "likely", "project", "should", "potential", "will pursue" and similar expressions or variations of such expressions may constitute "forward-lookingstatements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income,cash flowprojections,our exposure tomarket risks as wellas otherrisks. Bharat Parenterals Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Note: YoY/QoQ growth is calculated based on filed INR Lakh figures; minor rounding differences may appear versusINRCroreconversions. 03 / 36 Q2 FY27 AT A GLANCE CONSOLIDATED GROUP REVENUE Q2 FY27 GROUP EBITDA Q2 FY27 GROUP PAT Q2 FY27 ₹ 136.3 Cr ₹ 26.1 Cr ₹ 11.8 Cr Q2 FY26 ₹64.6 Cr · +110.9% YoY Margin 19.2% vs 6.7% Q2 FY26 · +1,243 bps YoY Margin 8.7% · owners' share ₹9.4 Cr Q1 FY27 ₹93.7 Cr · +45.4% QoQ Q1 FY27 ₹9.6 Cr, 10.3% · +170.8% QoQ Q2 FY26 ₹(8.6) Cr · Q1 FY27 ₹(3.6) Cr BPL REVENUE Q2 FY27 INNOXEL REVENUE Q2 FY27 VHPL REVENUE Q2 FY27 ₹ 78.6 Cr ₹ 44.5 Cr ₹ 19.7 Cr Q2 FY26 ₹41.7 Cr · +88.4% YoY Q2 FY26 ₹12.6 Cr · +253.1% YoY Q2 FY26 ₹14.8 Cr · +33.2% YoY Q1 FY27 ₹55.5 Cr · +41.5% QoQ Q1 FY27 ₹21.4 Cr · +107.9% QoQ Q1 FY27 ₹25.1 Cr · (21.5%) QoQ MANAGEMENT COMMENTARY Against the samequarter last year (Q2 FY26) — Consolidatedrevenueof ₹136.3 Cris110.9% higher thanthe ₹64.6 Crof Q2 FY26, a quarter heldbackby deferredexportshipmentsandanearone-monthbreakonthegeneralinjectablesline.EBITDA₹26.1Crat19.2%ofrevenueagainst₹4.4Crat6.7%;profitafter tax ₹11.8 Cr(₹9.4 Crattributableto owners) against a lossof ₹(8.6) Cr. Innoxel's swingto a ₹5.4 Crprofit from a ₹(11.0) Crlossdrove the step-up,while BPL Standalonegrossmargineasedto34.8%from44.1%asCOGSroseto65.2%ofrevenue. Againsttheprecedingquarter(Q1FY27) — Revenue45.4%higherat₹136.3Cr;EBITDAmargin+888bpsto19.2%;profitaftertax₹11.8Cragainstalossof₹(3.6) CrinQ1FY27.Innoxel revenuedoubledto₹44.5Crwithotherexpensesbroadly unchanged;BPLStandalonerevenue+41.5%to₹78.6Cr;VarenyamHealthcare revenuedown21.5%to₹19.7Cr. Basis:groupfiguresareBPL'sreportedconsolidatedresults(unaudited,afterinter-companyeliminations);Innoxel(55.9%owned)isconsolidatedinfull,withtheminoritysharein non-controllinginterest.OnthisslideEBITDAincludesotherincome;allotherslidesshowoperatingEBITDA,beforeotherincome.Marginsareonrevenuefromoperations. Group financial metrics | P&L CONSOLIDATED Particulars (₹ Cr) Q2 FY27 Q2 FY26 YoY % Q1 FY27 QoQ % H1 FY27 H1 FY26 H1 YoY % FY26 Revenue from operations 136.3 64.6 +110.9% 93.7 +45.4% 230.0 180.6 +27.3% 345.4 Other income 2.5 3.5 (28.1%) 1.1 +128.5% 3.7 4.6 (20.5%) 9.5 Total income 138.8 68.2 +103.7% 94.8 +46.4% 233.7 185.2 +26.2% 355.0 EBITDA* 23.6 0.8 +2,850.0% 8.5 +176.3% 32.1 14.6 +120.0% 15.8 EBITDA margin (%) 17.3% 1.3% +1,603 bps 9.1% +820 bps 14.0% 8.1% +588 bps 4.6% PAT 11.8 (8.6) n.m. (3.6) n.m. 8.3 (9.5) n.m. (27.3) PAT margin (%) 8.7% (13.3%) +2,199 bps (3.8%) +1,247 bps 3.6% (5.2%) +884 bps (7.9%) PAT to owners 9.4 (7.2) n.m. 1.0 +834.4% 10.4 1.0 +948.8% (8.2) *EBITDA is struck before other income; including other income it was ₹26.1 Cr in Q2 FY27 (19.2% of revenue). All figures are BPL's reported consolidated results (Q2/H1 unaudited, FY26 audited), after inter-company eliminations. Innoxel(55.9% owned) is consolidated in full; PAT to owners of the company excludes the non-controlling interest. Our YoY Sum-of-parts P&L | Q2 FY27 05 / 36 CONSOLIDATED Entity-level disclosure for Q2 FY27 and H1 FY27 · totals may not add due to rounding Metric (₹ Cr) BPL Std Innoxel V. Healthcare V. Bio Sum of entities Elim. & adj. Consolidated Q2 FY27 · quarter under review Revenue from Operations 78.6 44.5 19.7 0.0 142.8 (6.5) 136.3 EBITDA 7.0 14.6 1.8 (0.1) 23.4 0.2 23.6 EBITDA % 9.0% 32.9% 9.2% n.m. 16.4% n.m. 17.3% PAT 5.4 5.4 1.0 (0.1) 11.7 0.1 11.8 PAT Margin 6.9% 12.2% 5.1% n.m. 8.2% n.m. 8.7% H1 FY27 · six months ended 30-Sep-2026 Revenue from Operations 134.1 65.9 44.9 0.0 244.8 (14.8) 230.0 EBITDA 13.9 12.8 4.9 (0.2) 31.4 0.7 32.1 EBITDA % 10.3% 19.4% 11.0% n.m. 12.8% n.m. 14.0% PAT 9.1 (4.9) 3.8 (0.2) 7.8 0.5 8.3 PAT Margin 6.8% (7.5%) 8.5% n.m. 3.2% n.m. 3.6% READING THE BRIDGE · Q2 FY27 • Consolidated revenue ₹136.3 Cr is the four entities' ₹142.8 Cr (₹78.6 + ₹44.5 + ₹19.7 + ₹0.0 Cr) less ₹6.5 Cr eliminated on consolidation • Innoxel turned profitable (PAT ₹5.4 Cr, EBITDA ₹14.6 Cr at 32.9%) and is now the largest EBITDA contributor; its 44.1% minority share, ₹2.4 Cr, takes PAT to owners to ₹9.4 Cr • Entity PAT excluding Innoxel is ₹6.3 Cr, of which BPL Standalone contributes ₹5.4 Cr Quarterly trajectory | by entity · Q2 FY27 06 / 36 GROUP STANDALONE INNOXEL HEALTHCARE Revenue (₹ Cr) Revenue (₹ Cr) Revenue (₹ Cr) 78.6 44.5 25.1 37.5 56.5 55.5 19.7 41.7 41.4 14.8 15.5 21.4 11.6 12.6 14.2 EBITDA % 5.6% 8.4% 0.1% 12.3% 9.0% (16.6%) (19.7%) 3.7% (8.5%) 32.9% 9.7% 6.3% (12.7%) 12.4% 9.2% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 READING THE TRAJECTORY · THREE STORIES IN ONE CHART · EBITDA BEFORE OTHER INCOME ▪ STANDALONE₹78.6Cr — YoY+88.4%offthe₹41.7CrQ2FY26base(deferredexportshipments,one-monthgeneral-linebreak);QoQ+41.5%.EBITDA margin9.0%,against5.6%YoYand12.3%QoQ,asCOGSroseto65.2%ofrevenue(60.2%inQ1);employeecosteasedto9.3%ofrevenue. ▪ INNOXEL₹44.5Cr — YoY +253.1%off ₹12.6Cr;QoQ+107.9%.EBITDA₹14.6Crat32.9%,against (16.6%)YoY and (8.5%)QoQ—revenue doubledwhile otherexpensesheldflat.FirstUScommercialCMOlaunchfollowedon20-Oct-2026. ▪ VARENYAMHEALTHCARE₹19.7Cr — YoY+33.2%;QoQ(21.5%).EBITDA₹1.8Crat9.2%,against9.7%YoYand12.4%QoQ;lowerrevenueliftedemployee costto22.8%ofrevenue. Track record into Q2 FY27 07 / 36 GROUP FY26 milestones in the panel; FY27 developments to 21-Oct-2026 in the four columns below YEAR IN REVIEW APR 2025 →MAR 2026 • USFDA inspection at Innoxel Baroda facility → EIR received → US commercial supply enabled • FAMHP (Belgium) EU-GMP inspection completed with zero critical/major observations • Audit clearances: Paraguay (27-May-2025, valid to May-2027) · Nigeria/NAFDAC (23-Sep-2025, valid to Sep-2028) · WHO-GMP renewed (13-Oct-2025, valid to Oct-2028) · State GLP & GMP renewed (15-Oct-2025) • 48 new product registrations across 40+ countries · 214 dossiers submitted in F [Showing first 8,000 characters — download PDF for full document]