Analysts/Institutional Investor Meet/Con. Call Updates

Date: November 06, 2026 BSE Limited, National Stock Exchange of India Limited 20th Floor, P.J. Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai - 400001. Mumbai – 400 051 BSE Scrip Code: 544449 NSE Scrip Symbol: ANTHEM Subject: Transcript of Earnings Conference Call. Dear Sir/Ma’am Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the earnings conference call held on November 04, 2026, at 12:30 PM, post announcement of Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026. The said transcript is also available on website of the Company at https://anthembio.com/. We request you to kindly take the same on record. Thanking you, Yours truly, For Anthem Biosciences Limited (Formerly known as Anthem Biosciences Private Limited) Divya Prasad Company Secretary & Compliance Officer Membership No: A41438 “Anthem Biosciences Limited Q2 and H1 FY27 Earnings Conference Call” November 04, 2026 MANAGEMENT: MR. AJAY BHARDWAJ – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – ANTHEM BIOSCIENCES LIMITED MR. GAWIR BAIG – CHIEF FINANCIAL OFFICER – ANTHEM BIOSCIENCES LIMITED MS. RADHIKA KEDIA – INVESTOR RELATIONS – ANTHEM BIOSCIENCES Page 1 of 18 Anthem Biosciences Limited November 04, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q2 and H1 Earnings Conference Call of Anthem Biosciences. 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 Ms. Radhika Kedia from Anthem Biosciences. Thank you, and over to you, ma'am. Radhika Kedia: Thank you, Syesha. I am Radhika Kedia from Investor Relations at Anthem Biosciences, and I welcome you all to our earnings conference call to discuss our Q2 and H1 FY27 results. Our results are uploaded under the Investor tab of the website that shows financial information in case you would like to download and reference them during this discussion. On call today, we have with us Mr. Ajay Bhardwaj, Managing Director and Chief Executive Officer, and Mr. Gawir Baig, Chief Financial Officer of Anthem Biosciences. We will begin the call with brief opening remarks from the management, followed by a Q&A session. Please note that certain statements made during the call may be forward-looking in nature. Such forward- looking statements are subject to certain risks and uncertainties that could cause the actual results or projections to differ materially from those statements. Anthem Biosciences Limited will not be in any way responsible for such actions taken based on such statements and undertakes no obligations to publicly update those forward-looking statements. I would now like to hand over the call to Mr. Ajay Bhardwaj for his opening remarks. Thank you, and over to you, sir. Ajay Bhardwaj: Thanks, Radhika. Good afternoon, everyone. This is Ajay, and I thank you for joining us as we share our key financial highlights for Q2 and H1 FY27. First of all, we are pleased to report a robust performance for Q2 FY27, with consolidated revenue from operations going up to INR594 crores for the quarter. The CRDMO business delivered INR509 crores of revenue, supported by the Specialty Ingredients, which delivered INR85 crores revenue. The EBITDA was INR330 crores, with EBITDA margins at 50.6%. EBITDA for Q2 FY27 includes other income of INR59 crores, whereas the corresponding figure for Q2 FY26 was INR48 crores. PBT was INR296 crores, while PAT, that is profit after tax, was INR211 crores, with PAT margins at 32.04%. Moving on for the half-year results, the consolidated revenue from operations was INR1,012 crores. The CRDMO business delivered INR850 crores, and Specialty Ingredients was INR162 crores of revenue. EBITDA was INR506 crores, with EBITDA margins for the half year being 46.2%. EBITDA for the corresponding H1 FY27 includes other income of INR84 crores, and the corresponding figure of H1 FY26 was INR70 crores. Profit after tax, PAT, was INR331 crores, with PAT margins at 30.2% for the half year. Page 2 of 18 Anthem Biosciences Limited November 04, 2026 The net cash position of the company as of September 30th, 2026, is INR1,534 crores. I would like to state that we expanded our EBITDA and PAT margins year-on-year by maintaining strict discipline around cost efficiencies, yield optimization, and workforce productivity. We have further solidified our industry-leading margins and are well-positioned to sustain this performance for the whole year. Underlying demand continues to remain strong, and we are confident of our ability to sustain growth and create long-term value for all stakeholders. I now hand you back to the moderator, and thank you very much for listening. Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Akash, an Individual Investor. Please go ahead. Akash: YES. Hi, sir. I have two questions. First one is, since our inception, how have customer expectations evolved from the client or customer's perspective when the client faces a complex molecule or an unexpected technical problem? Is Anthem increasingly becoming their first choice or partner? They intensively turn for the solution. And what do you believe makes Anthem stand out in the mind of our clients or our partners' perspective? Ajay Bhardwaj: Akash, thank you very much for asking a question. A very different question from usually what we get in investor calls. But you are absolutely right. We have always played on the thesis that Anthem is the go-to partner for more complex molecules, where the customer is looking for not just a pair of hands to get the job done, but for looking at intellectual contribution and creating options where we can generate IP for the client, as well as give them multiple options at solving that problem. The way our customer expectations are right now stationed is that increasingly, they look at Anthem as a solution provider, not just as a contract researcher or a contract manufacturer. You have hit the nail on the head. The customer expectations have moved quite a lot in the last few years, and that is where I think Anthem distinguishes itself from its peers. We tend to position ourselves, and with the track record to show it, that we provide unique, technology-driven, and novel solutions for our customers. The customer expectation certainly has moved up. Akash: Okay. The second one on, given current geopolitical environment and dependence on the specialized enzymes, biocatalysts, and other critical process inputs, are we largely self-sufficient or backward integrated, or do certain supply dependencies exist? Ajay Bhardwaj: You are breaking up a bit, but if I understand the question correctly, you have asked whether we are self-sufficient in providing enzyme-based or biotransformation-based solutions to our customer. Is that correct? Akash: Yes. Ajay Bhardwaj: Sorry? Yes? Akash: Yes. Page 3 of 18 Anthem Biosciences Limited November 04, 2026 Ajay Bhardwaj: Okay. Okay. We are, I would say, largely. When any project that moves forward a bit, while in the initial phases, we may try out from different sources because you obviously can't put your resources on early development. But when the project starts to move from early development into more mature programs, in those cases, we are almost always self-sufficient in having the enzymes backward integrated or doing all our own fermentation-based solutions. Yes, the endeavor and the effort always is that we do not depend on supply chains outside of the country for two [Showing first 8,000 characters — download PDF for full document]