Analysts/Institutional Investor Meet/Con. Call Updates

Corporate Office: Registered Office: Star 1, Opp IIM Bangalore, Bilekahalli, Cyber One, Unit No. 902, Sector 30A, Bannergha(cid:425)a Road, Bengaluru – Plot No - 4 & 6, Vashi, 560076, India Navi Mumbai - 400703, India T: +91 80 6784 0738 T: +91 22 2789 2924 Date: November 03, 2026 BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Dalal Street, Mumbai- 400001 Bandra (E) Mumbai – 400051 Scrip Code: 544292 Symbol: ONESOURCE Dear Sir/Madam, Subject: Transcript of Earnings Call pertaining to Unaudited Financial Results of the Company for the quarter ended September 30, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of earnings call for the quarter ended September 30, 2026. This earnings call was conducted on October 27, 2026, i.e., after the meeting of Board of Directors, and is being shared for your information and records. Request you to kindly take the above on record. For OneSource Specialty Pharma Limited Trisha A Company Secretary and Compliance Officer Membership Number: A47635 OneSource Specialty Pharma Limited info@onesourcecdmo.com | www.onesourcecdmo.com CIN: L74140MH2007PLC432497 “OneSource Specialty Pharma Limited Q2FY27 Earnings Conference Call” October 27, 2026 MANAGEMENT: MR. NEERAJ SHARMA – CHIEF EXECUTIVE OFFICER AND MANAGING DIRECTOR – ONESOURCE SPECIALTY PHARMA LIMITED MR. ANURAG BHAGANIA – CHIEF FINANCIAL OFFICER – ONESOURCE SPECIALTY PHARMA LIMITED MR. ABHISHEK SINGHAL – ONESOURCE SPECIALTY PHARMA LIMITED Page 1 of 14 OneSource Specialty Pharma Limited October 27, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Q2 and FY27 Earnings Conference Call of OneSource Specialty Pharma Limited. 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. Abhishek Singhal. Thank you, and over to you, sir. Abhishek Singhal: Thank you, Danish, and thank you all for joining us today for the earnings conference call of OneSource Specialty Pharma Limited for the second quarter and half year ended September 30, 2026. We have with us Neeraj, CEO and MD; and Anurag, CFO of the company, who will walk you through the key business and financial highlights for the quarter and for the first half of the financial year. I trust you have the opportunity to review our results release and investor presentation, both of which are available on the company's website as well as on the stock exchange website. The transcript for this call will be posted on the company's website within the next week. Please note that today's discussion will contain forward-looking statements, which should be viewed in the context of the risks inherent in our business. Should you have any further questions after this call, our Investor Relations team will be happy to assist you. I now hand over the call to Neeraj for his opening remarks. Neeraj Sharma: Thank you, Abhishek, and a very warm welcome to everyone joining this late evening for our Q2 results. Q2 was a strong quarter for us. In fact, it was our third consecutive quarter of sequential growth and in line with the trajectory which we had outlined in our previous calls. So if you saw that revenue increased 37% year-on-year, 15% sequentially. And in the quarter, we actually delivered more than INR5 billion revenue., EBITDA grew 53% year-on-year, 32% sequentially. And the margin expanded more than 400 basis points quarter-on-quarter, reaching 32% for the quarter. And the very fact that the pace of EBITDA actually was higher -- EBITDA growth was higher than the revenue growth, it really demonstrates the operating leverage, which is inherent in our business model. And in fact, if you look at the first half, put together both the quarters, it's been a 47% year-on-year growth of EBITDA. So the growth both in this quarter as well as for the first half is actually been driven by the additional DDC capacity, which has come online in the last quarter, which is quarter 2, and which helped us both commercial as well as MSA revenue coming in, thanks to that execution. And really staying with our DDC line expansion, many of you saw our second cartridge line is Page 2 of 14 OneSource Specialty Pharma Limited October 27, 2026 now running commercial batches, even though the geopolitics actually impacted its start by almost 6 months. But the fact is that today, the line already since September, it is operational, and it has immediately doubled our total sterile production days. So the additional capacity -- as we had said last time, the additional capacity really supports both the new launches which are coming in and provide us a significant ramp-up of the commercial volumes, which we are expecting during the second half. I'm also happy to share with you that even our third line has successfully completed its factory acceptance test in Germany and is now at our site as we speak, ready for qualification. I mean this line also the arrival was longer than anticipated, obviously, due to this extended transit times because of what's happening in the Gulf. But as you also know that these are very bespoke lines, and I think I explained in my previous calls and interactions with many of you that these are lines built for much larger batch sizes, and therefore, they require quite rigorous qualification involving multiple European vendors. So keeping that in mind, while we are making every effort for it to start in Q4, but the commercialization might get pushed to the start of FY28. However, I just want to reiterate here that we'll have all 3 lines fully operational and available for FY28. And this is not just the filling capacity. I think that's what is important to highlight here and what really differentiates OneSource from every other CDMO is that every one of our lines are backed by full end-to-end capabilities, whether it is not only cartridge filling, but assembly, labeling, packaging and so on, including cold chain all under one roof. And this differentiates us not only in India, but even globally. Our semaglutide footprint continued to grow during the quarter, and our partner, Hikma, launched the first generic semaglutide in Saudi Arabia, which really expands our presence in a very important market, which is off patent. Also, more hearteningly, the Dr. Reddy's API has commenced, I think which they also spoke about in their earnings call. And this would really help relaunch in Canada as well as launch across multiple other markets where they already have an approval. And apart from Dr. Reddy's, also the supply ramp-up from our other Canadian customers is also on track for the quarter 3. Now moving on to our second strong leg of our business, which is emerging very fast, which is biologics. It's increasingly becoming a very key growth pillar for us. And during the quarter, we had multiple new project wins, which is both from new customers who we onboarded as well as existing customers. We have onboarded 2 projects for end-to-end development to commercialization projects from a U.S. biotech. We secured additional new program for one of the top global animal health companies and our existing customer. And this, as you know, comes back-to-back from the previous quarter where we had EU customer wins. These wins, whether the U.S. or Europe, these really reflect the integrated offering, which we have, which we call from gene to device in biologics, which again, very few Page 3 of 14 OneSource Specialty Pharma Limited October 27, 2026 CDMOs offer and the fact that India's growing position as a trusted hub of global biologics biosimilar develop [Showing first 8,000 characters — download PDF for full document]