Result presentation for the quarter and half year ended September 30, 2026

November 03, 2026 BSE Limited, National Stock Exchange of India Limited, P J Towers, Exchange Plaza, Dalal Street, Bandra-Kurla Complex, Bandra, Mumbai - 400 001. Mumbai - 400 051. Scrip Code: 524735 Symbol: HIKAL Dear Sir/Madam, Subject: Results Presentation of the Company for the quarter and half year ended September 30, 2026 Pursuant to the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing a copy of the Results presentation on the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026. This is for your information and records. Thank you, Yours sincerely, For Hikal Limited Rajasekhar Reddy Company Secretary & Compliance Officer Encl: As above Hikal Ltd. Admin. Office: Great Eastern Chambers, 6th Floor, Sector 11, CBD Belapur, Navi Mumbai - 400 614, India. Tel. + 91–22–6277 0299, + 91–22–6866 0300 Regd. Office: 717/718, Maker Chambers - 5, Nariman Point, Mumbai - 400 021, India. Tel. +91-22 6277 0477. Fax: + 91-22 6277 0500 www.hikal.com info@hikal.com CIN: L24200MH1988PTC048028 Investor Presentation Q2 FY27 November 2026 Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Hikal Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections. Leading with Vision “Q2 FY2027 reflected a recovery with improving performance in Pharmaceuticals and ongoing efforts to strengthen our Crop Protection business. Animal Health continues to grow and manufacturing in our Personal Care business has commenced. Mr. Sameer Hiremath, Chairman and Our Pharmaceutical business continued its progress, with support from the established API portfolio, pricing and sustained CDMO execution. The Generics business witnessed improvement in own products, while new-product commercialisation and customer-linked programmes Managing Director continued to strengthen our future growth prospects. Our CDMO pipeline expanded across the US, Europe and Japan, with multiple opportunities progressing through development, proposals and RFP stages. Our remediation programme is well underway with our Bengaluru API facility recently receiving GMP certification from the Swissmedic authorities, building on the successful ANVISA and PMDA inspections. Our Crop Protection business continued to navigate a challenging operating environment, impacted by elevated raw material and energy prices, deferred demand and pricing pressure from Chinese competition. The CDMO business continued to focus on strengthening customer relationships, pursuing long-term programmes and expanding opportunities in specialty and custom synthesis. We signed a multi-year CDMO contract with a Europe-based global agrochemical company for the manufacture and supply of a specialised product to international markets. Our Animal Health business delivered year-on-year growth. Contribution margins improved compared to the previous quarter, reflecting progress in business performance. We continue to focus on strengthening customer relationships, advancing our product pipeline and expanding our presence in international markets. Our Personal Care business achieved an important milestone with the commencement of commercial production at our multipurpose facility in Panoli. With growing global demand for next-generation UV filters, we are focused on securing customer approvals and subsequently launching the products across global markets. Innovation and R&D continue to remain central to our long-term strategy. We are prioritising new product development and strengthening high- potency capabilities. Looking ahead, we remain confident in our growth outlook in H2 versus last year. We reiterate our full year guidance of mid teens growth in Revenue and a substantial improvement in profitability.” Q2FY27: Performance at a Glance Q2FY27: Consolidated Performance Summary CONSOLIDATED: FINANCIAL SUMMARY COMMENTARY Rs. In Crs Q1FY27 Q2FY26 Q2FY27 Quarterly Revenue grew 36%, supported by recovery in the established Revenue 403 319 434 API portfolio and continued CDMO execution across key global markets. EBITDA 37 7 45 EBITDA% 9.2% 2.3% 10.3% Quarterly EBITDA of ₹45 crores with margins of 10.3%, reflecting PBT before stronger operational performance. (19) (47) (8) exceptional items Exceptional items (9) 0 0 PAT for the quarter stood at ₹(6) crores compared to ₹(35) crores last PBT after year. (10) (47) (8) exceptional items Pharmaceuticals business continued its recovery, driven by growth in PAT (7) (35) (6) the established API portfolio and new-product commercialization. EPS (0.60) (2.83) (0.49) Swissmedic inspection successfully concluded with regulatory approval. CONSOLIDATED: REVENUE SPLIT% Personal Care commercial production commenced at the new facility at In % Q1FY27 Q2FY26 Q2FY27 Panoli, strengthening its UV filter portfolio. Pharmaceuticals 58% 59% 64% Business is expected to improve in H2, supported by API recovery, Crop-Protection 42% 41% 36% CDMO pipeline conversion, and improved agrochemical CDMO demand. Q2FY27: Pharmaceuticals Performance Summary COMMENTARY PHARMACEUTICALS: FINANCIAL SUMMARY Pharma revenue grew by 47% YoY, to ₹278 Cr in Q2FY27, with Rs. In Crs Q1FY27 Q2FY26 Q2FY27 improvement in EBIT margins. Revenue 233 190 278 API volumes recovered, while CDMO programmes and the customer EBIT 8 (17) 13 pipeline expanded across the US, Europe and Japan, with an API securing GMP approval for Japan and other programmes advancing through PHARMACEUTICALS: REVENUE SPLIT% development. In % Q1 [Showing first 8,000 characters — download PDF for full document]