Analysts/Institutional Investor Meet/Con. Call Updates

' GRANLILES Date: November 02, 2026 National StockExchange ofIndiaLimited BSELimited Symbol: NSE: GRANULES: BSE: 532482 Dear Sir, Sub: Presentation totheAnalysts/Investors We refer to the unaudited financial results for the second quarter and half year ended on September30, 2026, submittedtoyoutoday i.e., onNovember02,2026. Wearenowenclosing thepresentation inthis regardtotheAnalysts/Investors. This is pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kindlytaketheabove information on record. For GRANULES INDIALIMITED CHAITANYATUMMALA (COMPANY SECRETARY& COMPLIANCE OFFICER) REGISTEREDOFFICE GranulesIndiaLimited CIN: L24110TG1991PLC012471 Al5thFloor, GranulesTower, BotanicalGardenRoad.Kondapur, Hyderabad-500084,Telangana, India ContactUs:Tel:+91 4069043500 I Fax:+91-40-23115145 I mail@granulesindia.com www.granulesindia.com Granules India Limited Earnings Presentation Q2 FY27 2nd November 2026 Safe Harbour Statement ThePresentationistoprovidethegeneralbackgroundinformationabouttheCompany’sactivitiesasatthedateofthePresentation. The information contained herein isfor general information purposes only and based on estimates and should not be consideredas a recommendation that any investor should subscribe / purchase the company shares. The Company makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completenessorcorrectnessofanyinformationcontainedherein. This presentation may include certain “forward looking statements”. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ materially from these statements.Importantfactorsthatcouldcause actual results to differmateriallyfrom ourexpectations include, amongstothers general economic and business conditions in India, ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currencies, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global pharmaceuticals industries, increasing competition, changes in political conditions in India or any other country and changes in the foreign exchange control regulations in India. Neither the company, nor its directors and any of the affiliates or employee have any obligation to update or otherwise revise any forward-looking statements. The readers may use their own judgment and are advised tomaketheirown calculationsbeforedecidingonanymatterbasedontheinformationgivenherein. Nopartofthispresentationmaybereproduced,quotedorcirculatedwithoutpriorwrittenapproval fromGranulesIndiaLimited. Granules India Limited | Earnings Presentation Q2 FY27 22 Management Commentary Dr. Krishna Prasad Chigurupati “Our Quarterly revenue has crossed ₹1500 Cr in Q2 FY27 with EBITDA of ₹338 Cr, Chairman & Managing Director despite higher input and logistics costs from tensions inWest Asia. Cost pressures will persist and we are working with customers to manage them with a lag. We filed two potential first-to-file ANDAs in H1, which makes it a total of three potential first to file ANDAs and continue to shift towards complex generics and peptide CDMO. With the balance warrant proceeds received, we hold net cash of ₹828 Cr to invest in R&D, manufacturingand quality.” “We recently concluded a US FDA audit at the Gagillapur site, The inspection progressed constructively, and the observations are of a nature that we believe can be fully addressed through our responses and corrective and preventive actions and we will continuetoengagetransparentlywith theagency.” Revenue Gross Margin % EBITDA PAT ₹15,600 Mn 64.4 % ₹3,376 Mn ₹1,818 Mn +20% YoY Growth -134 bps YoY +21% YoY Growth +39% YoY Growth Granules India Limited | Earnings Presentation Q2 FY27 33 Growth Momentum: Granules Is Scaling Strongly Five reasons Granules offers durable, de-risked and sustainable growth 01 Entrenched leadership in the world’s largest generics market #1 in 11 US LEADERSHIP Top-3 in 19 of 38 US products (IQVIA MAT Aug’26), up from 18. North America is 72% with a US products ranked #1, out of 38 revenue growth of 14% YoY, backed by a US controlled-substances franchise. 02 A pipeline built for high-value early launches FTF OPTIONALITY Amphetamine ER ODT, Sodium Oxybate ER and Ruxolitinib ER, plus 26 pending ANDAs Potential sole FTF ANDAs filed (CNS/CII -3, Complex OSD -10, ONCO -2, Integrated –10, others –1) in a TAM ~$35 Bn US market. The Para IV and Day-1 playbook adds upside to the base business. 03 49% A portfolio moving steadily up the value chain COMPLEX Gx Complex Gx H1FY27 revenue grew by 45% YoY, with 67 dossiers filed under complex category Complex Gx H1FY27 share of FD and 30 awaiting approval. portfolio The Senn Chemicals acquisition adds Peptide CDMO as a second, higher-value growth engine. 04 GLOBAL A global filing base well beyond the US 5.8% EXPANSION 159 filings till date: US –94 filed, 68 approved, 3 tentative approvals; EU & UK –26 filed, 22 BACKED BY R&D H1FY27 R&D % to sales approved; Canada –9 filed, 8 approved; ROW –30 filed, 5 approved. 05 A strong balance sheet to fund the next phase 8,280 Mn NET CASH Net cash position after receipt of the balance warrant proceeds. ROCE of 17.6%, up 138 bps YoY, supports ~₹20,000 Mn of organic capex over 3–4 years. GROWTH MOMENTUM: Leadership today, pipeline upside tomorrow, funded from a net-cash balance sheet Granules India Limited | Earnings Presentation Q2 FY27 44 Quarterly Performance Q2 FY27 Q2FY27 Financial Performance ▪ Growth and Profitability: Revenue growth was supported across all segments and gross margin slightly impacted due to elevated input costs. ▪ Balance sheet and Cash: Receipt of the balance warrant proceeds moved the Company to a net cash position, while cash flow from operations in Q2FY27 was lesser as per planned working-capital investment to support growth ₹3,376 Mn ₹1,818 Mn ₹15,600 Mn 64.4% EBITDA of 21.6% PAT of 11.7% +19 bps YoY Revenue ₹12,970 (+20% YoY) Gross Margin (-134 bps YoY) -131 bps QoQ Growth of +39% YoY, +1% QoQ Revenue ₹14,768 (+6% QoQ) Gross Margin (-126 bps QoQ) (Growth of +21% YoY, Flat QoQ) 17.6% -0.61x 30% ₹650 Mn Cash Flow from Operations ROCE Net Debt/EBITDA Net Working Capital to Sales ₹3,874Mn in Q1FY27 (18.0% in Q1FY27) (0.07x in Q1FY27) (29% in Q1FY27) ₹1,937Mn in Q2FY26 ROCE = Annualised EBIT / Average Capital Employed NWC to Sales =Average (Current Assets –Current Liabilities)/ Revenue Capital Employed = Total assets –Current liabilities excluding Net Debt = Interest bearing borrowings –Cash & Bank Balance short-term borrowings –Cash & Bank Balances Current Assets =Total Current Assets –Cash & Bank Balances Current Liabilities = Total Current Liabilities –Short-term Borrowings Granules India Limited | Earnings Presentation Q2 FY27 66 Q2FY27 Financial Performance ₹ Mn Complex Gx YoY growth strengthened the product portfolio and supported profitability Continued investment in talent and R&D; Higher input and logistics costs due to ongoing West Asia conflict Particular Q2 FY27 Q2 FY26 Y-o-Y Q1 FY27 Q-o-Q Revenue 15,600 12,970 20% 14,768 6% Gross Margin 10,039 8,520 18% 9,690 4% % of Gross Margin 64.4% 65.7% -134 bps 65.6% -126 bps Manpower Cost 2,581 2,192 18% 2,546 1% R&D 885 705 26% 880 1% Other Expenses 3,197 2,841 13% 2,875 11% EBITDA 3,376 2,782 21% 3,389 0% % of EBITDA 21.6% 21.5% 19 bps 22.9% -131 bps PBT 2,434 1,759 38% 2,404 1% PAT 1,818 1,306 39% 1,800 1% % of PAT 11.7% 10.1% 159 bps 12.2% -53 bps Peptide CDMO reported an EBITDA loss of ₹152Mn in Q2FY27, compared to EBITDA loss of ₹124Mn in Q1FY27 and EBITDA loss of ₹200Mn in Q2FY26 Granules India Limited | Earnings Presentation Q2 FY27 77 Revenue Diversification: Segments [Showing first 8,000 characters — download PDF for full document]