Analysts/Institutional Investor Meet/Con. Call Updates

CONCORD BIOTECH LIMITED B-1601-1602, B-wing Mondeal Heights, Iskcon Cross Road, S. G. Highway, Ahmedabad-380015, Gujarat. Phone : +91-79-68138700 Fax : +91-79-68138725 CIN No.: L24230GJ1984PLC007440 Email ID: complianceofficer@concordbiotech.com -------------------------------------------------------------------------------------------------------------------------------------------- November 03, 2026 To To The Manager, Listing Department General Manager, Listing Department National Stock Exchange of India Limited BSE Limited Plot No. C/1 G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (East), Dalal Street, Mumbai -400 051 Mumbai – 400 001 Symbol: CONCORDBIO Scrip Code: 543960 Subject: Transcript of Q2 - FY27 Earnings call held on October 28, 2026 Dear Sir/Ma’am, In continuation of our letter dated October 28, 2026 regarding Earning Call Recording- For the Second Quarter ended on September 30, 2026 and pursuant to Regulation 30 (6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transcript of the Earnings call for the said period is enclosed herewith and shall also be available on the website of the company at the following link. https://concordbiotech.com/investor/ Kindly take the same into your records and oblige. Thanking you, Yours faithfully For Concord Biotech Limited Paritosh Trivedi Company Secretary & Compliance Officer ACS 63623 Encl: as above ------------------------------------------------------------------------------------------------------------------------------------------ Regd. Office & Plant : 1482-1486, Trasad Road, Dholka, Dist. Ahmedabad-382225. (India) Phone : +91-2714-222604, 398200 Fax : +91-2714-222504 Website : www.concordbiotech.com “Concord Biotech Limited Q2 & H1 FY ‘27 Earnings Conference Call” October 28, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recording uploaded on the stock exchange on 28th October 2026 will prevail. MANAGEMENT: MR. ANKUR VAID – JOINT MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER, CONCORD BIOTECH LIMITED MR. RAVIRAJ KARIA – CHIEF FINANCIAL OFFICER, CONCORD BIOTECH LIMITED MR. PRAKASH SAJNANI – ASSISTANT VICE PRESIDENT (FINANCE), CONCORD BIOTECH LIMITED MODERATOR: MS. MAITRI SHETH – CHOICE INSTITUTIONAL EQUITIES Page 1 of 17 Concord Biotech Limited October 28, 2026 Moderator: Ladies and gentlemen, welcome to the Q2 & H1 FY ‘27 Earnings Conference Call of Concord Biotech Limited hosted by Choice Institutional Equities. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on the date of this call. These statements are not guarantee of the company’s future performance and involves risks and uncertainties that are difficult to predict. 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 “*” and then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Maitri Sheth from Choice Institutional Equities. Thank you, and over to you, ma’am. Maitri Sheth: Good afternoon, everyone. On behalf of Choice Institutional Equities, we welcome you all to Q2 and H1 FY ‘27 Earnings Conference Call of Concord Biotech Limited. Today on the call, we are joined by Mr. Ankur Vaid – Joint Managing Director and Chief Executive Officer, Mr. Raviraj Karia – Chief Financial Officer, and Mr. Prakash Sajnani – Assistant Vice President (Accounts), along with SGA, their Investor Relations Advisor. We will begin the call with opening remarks from the Management, followed by a question-and- answer session. Thank you, and over to you, Mr. Vaid. Ankur Vaid: Thank you and a warm welcome to all on our Q2 and H1 FY ‘27 Earnings Conference Call. We are pleased to report a strong performance for the quarter ended 30th September 2026. Revenues for Q2 FY ‘27 grew 25% year-on-year. For the first half of the year, the 6 months ended 30th September 2026, revenue grew 26% over the same period last year. So the momentum has held through both quarters. What is particularly encouraging is how broad this growth has been. It came from every product category and every geography. Immunosuppressants, anti-infectives, antifungal and oncology all grew. Anti-infective, antifungal, and oncology grew faster in percentage terms on account of increased market penetration for the products commercialized in the last couple of years. These newer segments are clearly gaining traction, and we are optimistic of future. At the same time, we continue to win a larger share of our customer’s spend in immunosuppressants. To provide further perspective, our immunosuppressants business delivered high double-digit growth, while anti-infectives and antifungal grew in line with the company average growth. Our oncology business nearly doubled compared to the corresponding period last year. Taken Page 2 of 17 Concord Biotech Limited October 28, 2026 together, this shows a healthy, well-balanced portfolio, leaving us well-paced as we move into the second half of the year. Speaking of highlights for H1 FY ‘27: We received ANDA approvals for Tofacitinib and Mycophenolate Mofetil Oral Suspension which strengthen our formulation portfolio. We also filed a Drug Master File for Fidaxomicin in the US, which adds to our API opportunities in that market. We successfully completed the USFDA inspection of our Unit-II formulation facility at Valthera, Ahmedabad. We also received ANVISA approval for our Unit-III facility at Limbasi. Both outcomes reflected our continued focus on regulatory compliance and strengthened our position to serve customers in regulated markets. We have launched Inspira, our dermatology division. It takes us beyond our existing portfolio into science-led skin health solutions. The aim is to meet changing patient needs and build stronger relationship with dermatologists and other healthcare professionals. Lastly, board recommendation of 1:1 bonus issue has been approved by shareholders and will take effect in the coming weeks. The bonus issue reflects our confidence in delivering sustained growth and long-term value for all our stakeholders. Moving on to segmental performance: API revenue grew by 30% year-on-year during the quarter, while formulation revenue increased by 6%. The domestic formulation business delivered a strong growth of 29% in Q2. The relatively modest growth in overall formulation revenue was primarily attributable to a shift in the procurement strategies across emerging markets, with certain customers increasingly opting to procure API instead of finished formulations, as well as the transition of business from Advergent to our wholly owned subsidiary in the US, Stellon Biotech. On the growth front, we are actively engaging with several large domestic and global customers for our injectables business, and we expect to finalize contracts in the near term. Securing these contracts would drive higher utilization of our injectables manufacturing facility, providing significant growth potential. The resulting faster ramp-up is expected to support revenue growth and improve margins over time. At Concord, we believe it is more appropriate to evaluate the overall business growth rather than view API and formulation revenues in isolation. Our focus remains on expanding end-customer sales and increasing our wallet share, irrespective of whether the business is routed through API or formulations. Page 3 of 17 Concord Biotech Limited October 28, 2026 While the revenues mix may vary depending on individual customers’ procurement strategies, we continue to see an improvement in our share of their overall procurement. Domestic API revenue grew by 42% year-on-year in Q2 FY ‘27, while export revenue i [Showing first 8,000 characters — download PDF for full document]