Analysts/Institutional Investor Meet/Con. Call Updates

November 6, 2026 To, To, Dy. General Manager The Manager – Listing, Department of Corporate Services, National Stock Exchange of India Ltd., BSE Ltd., Plot No. C/1, G Block, P. J. Towers, Dalal Street, Bandra Kurla Complex, Fort, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Ref: Scrip Code: 543322 Ref: Scrip Name: ALIVUS Dear Sirs, Sub: Transcript of Earnings Call Pursuant to the Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transcript of Earnings Call held on Friday, October 30, 2026 for the second quarter and half year ended September 30, 2026 is available on website of the Company at: https://alivus.b-cdn.net/alivus_pdfs/investors/financials/reports_presentation/Transcript_Alivus- Earnings%20Call_Q2%20FY27_final.pdf The said transcript is also attached. Request you to kindly take the same on record. Thanking you Yours faithfully, For Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) Rudalf Corriea Company Secretary & Compliance Officer Encl.: As above Alivus Life Sciences Limited ( formerly Glenmark Life Sciences Limited ) Corporate Office: Registered Office: Technopolis Knowledge Park, A wingO, ffice No. 401 to 407, Plot No 170-172, Chandramouli Industrial Estate 4th Floor, Mahakali Caves Road, Andheri ( E), Mumba–i 400093 Mohol Bazarpeth, Solapur 413 213, India T: +91 22 6829 7979 | CIN: L74900PN2011PLC139963 | E: complianceofficer@alivus.com | W: www.alivus.com “Alivus Life Sciences Limited Q2 FY27 Earnings Conference Call” October 30, 2026 MANAGEMENT: DR. YASIR RAWJEE – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – ALIVUS LIFE SCIENCES LIMITED MR. TUSHAR MISTRY – CHIEF FINANCIAL OFFICER – ALIVUS LIFE SCIENCES LIMITED MS. SOUMI RAO – SENIOR GENERAL MANAGER – CORPORATE COMMUNICATIONS – ALIVUS LIFE SCIENCES LIMITED Alivus Life Sciences Limited October 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q2 FY27 Earnings Conference Call of Alivus Life Sciences 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 this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Soumi Rao from Alivus Life Sciences. Thank you, and over to you, ma'am. Soumi Rao: Good morning, everyone. I welcome you all to earnings call of Alivus Life Sciences Limited for the quarter ended September 30, 2026. From Alivus Life Sciences, we have with us Dr. Yasir Rawjee, our MD and CEO; and Mr. Tushar Mistry, our CFO. Our Board has approved the results for the quarter ended September 30, 2026. We have released it to the stock exchanges and updated the website. Please note that the recording and the transcript of this call will be available on the website of the company. Now I'd like to draw your attention to the fact that some of the information shared as part of this call, especially information with respect to our plans and strategies, may contain certain forward-looking statements that involve risks and uncertainties. These statements are based on current expectations, forecasts and assumptions that are subject to risks, which could cause actual results to differ materially from these statements, depending upon economic conditions, government policies and other incidental factors. Such statements should not be regarded by recipients as a substitute of their own judgment. The company undertakes no obligation to update or revise any forward-looking statement. Our actual results may differ materially from those expressed in or implied by these forward-looking statements. With that, I invite Dr. Yasir Rawjee to say a few words. Thank you, and over to you, Dr. Yasir Rawjee: Thank you, Soumi. Good morning, everyone, and welcome to our Q2 earnings call. Let me begin by extending our warm wishes for the upcoming festivities. Turning to our performance, we are pleased to report another quarter of healthy execution, reflecting the strength of our underlying business and a significant improvement in profitability. During quarter 2, revenue from operations stood at INR682 crores, up 16% year-on-year, driven by new product launches and a healthy demand across our existing portfolio. Our non-GPL business grew 20.8% year-on-year and now contributes 79% of our overall revenues. Performance remains healthy across Europe, Japan, North America, LATAM and ROW markets. Recently launched products continued to gain traction across geographies, further diversifying our revenue base. GPL revenues recorded a marginal growth of 1% year-on-year. For FY27, we expect Page 2 of 16 Alivus Life Sciences Limited October 30, 2026 the business to follow its historical trend with a stronger contribution in H2 and expect full year GPL revenues to be around INR700 crores to INR750 crores. Our generic API business grew 11% year-on-year in Q2, supported by healthy demand across regulated and emerging markets. The broader product portfolio continues to strengthen our presence across these markets. Our CDMO business delivered a robust performance during the quarter, with revenue climbing to INR50 crores, up 32.3% quarter-on-quarter and nearly 80% year-on-year. This was driven by improved traction across existing projects and was complemented by new projects. We continue to see CDMO as an important growth opportunity as our project portfolio progresses. More importantly, we are seeing a clear improvement in the quality of our portfolio that is impacting our earnings. A better revenue mix and improved operating efficiencies are translating into stronger underlying profitability. Coming to our expansion plans, the Solapur facility continues to progress as planned and Phase 1 is expected to become operational in Q3 of FY27. Construction of our R&D center at Taloja is also progressing well, and we hope to be on schedule early next year. Our pipeline remains robust with over 630 DMF and CEP filings globally as on September 30, 2026. Our high potent API portfolio continues to advance with 30 new products in the active grid, representing a total addressable market of $86 billion. Of these, 14 products have been validated, 7 are in advanced stages of development, and the remaining 9 products are progressing through lab development. As we move into the second half of FY27, we remain mindful of the evolving external environment. At the same time, the continued momentum in our core business progress across CDMO and the depth of our development pipeline provide us with confidence in our growth outlook. So accordingly, we reiterate our FY27 revenue growth guidance of 10% to 12%. We are confident of delivering EBITDA margins in the 35% to 36% range in FY27. Overall, our priorities remain clear, executing on our growth strategy, scaling our portfolio and strengthening our presence across key global markets. We believe that these initiatives provide a solid foundation for sustainable growth in the future. So with this, I now turn the floor to our CFO, Mr. Tushar Mistry, who will walk you through our financial performance for the quarter in depth. Over to you, Tushar. Tushar Mistry: Thank you, Dr. Yasir. Good morning, everyone. Welcome to our Q2 FY27 earnings call. I would like to take a moment to highlight the key performance updates for the quarter and half year ended 30th September 2026. For quarter 2 FY27, revenue from operations stood at INR682 crores, a growth of 16% year-on-year. Gross profit for the quarter was INR439 crores, up 29.5% year-on-year. Gross margins for the quarter stood at 64.4%, up 420 basis points quarter-on-quarter and 670 basis points Page 3 of 16 Alivus Life Sciences Limited October 30, 2026 year-on-year. This was on account of favorable product mix and recent launches. EBITDA for the quarter was [Showing first 8,000 characters — download PDF for full document]