Please find attached herewith the Transcript of Post Results Conference Call held on 4th November, 2026.

10th November, 2026 To, To, The Manager, The Manager, Department of Corporate Services, Listing Department, BSE Limited National Stock Exchange of India Ltd. P. J. Towers, Dalal Street, ‘Exchange Plaza’, Bandra Kurla Complex, Fort, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 533573 NSE Symbol: APLLTD Dear Sir/Madam, Sub: Transcript of Post Results Conference Call held on 4th November, 2026 Ref: Our Intimation dated 30th October, 2026 With reference to the captioned matter, please find enclosed herewith the transcript of the Conference Call held on 4th November, 2026. We request you to kindly take the same on record. Thanking you, Yours faithfully, For Alembic Pharmaceuticals Limited Chirag K. Shukla Company Secretary Encl.: A/a. ALEMBIC PHARMACEUTICALS LIMITED REGD. OFFICE: ALEMBIC ROAD, VADODARA - 390 003. ● TEL: (0265) 2280550, 2280880 ● FAX: (0265) 2281229 Website : www.alembicpharmaceuticals.com ● E-mail : alembic@alembic.co.in ● CIN : L24230GJ2010PLC061123 “Alembic Pharmaceuticals Limited Q2 & H1 FY27 Earnings Conference Call” November 04, 2026 MANAGEMENT: MR. PRANAV AMIN – MANAGING DIRECTOR– ALEMBIC PHARMACEUTICALS LIMITED MR. G. KRISHNAN – CHIEF FINANCIAL OFFICER – ALEMBIC PHARMACEUTICALS LIMITED MS. ISHA LAMBA – HEAD, INVESTOR RELATIONS AND CORPORATE DEVELOPMENT – ALEMBIC PHARMACEUTICALS LIMITED Page 1 of 13 Alembic Pharmaceuticals Limited November 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Q2 and H1 FY27 Earnings Conference Call of Alembic Pharmaceuticals Limited. As a reminder, this conference call is only for analyst and institutional investor. 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 a touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Isha Lamba, Head, Investor Relations and Corporate Development. Thank you, and over to you, Ms. Isha. Isha Lamba: Thank you. Good evening, everyone. On behalf of the management of Alembic Pharmaceuticals, I welcome you to this earnings conference call for the quarter and half year ended 30th September 2026. Before we begin, please note that during this call, we may make forward-looking statements. These reflect management's current expectations and involve risks and uncertainties that could cause actual results to differ materially. With that, let me introduce the management team present on call today. We have with us Mr. Pranav Amin, Managing Director; and Mr. G. Krishnan, Chief Financial Officer, along with a few other members of the management team. I now hand the conference over to Mr. Pranav Amin. Over to you, sir. Pranav Amin: Thank you, Isha. Good evening, everyone, and thank you for joining us to discuss the Alembic Pharmaceuticals performance for Q2 and for H1 FY27. I will cover the key highlights of the quarter, performance across our businesses, and a revised outlook for FY27. I will also discuss the collaboration we announced with DifGen in the U.S. market, and then Krishnan will take you through the financials in detail. The second quarter builds decisively on the momentum of our first quarter and marks an important step up in the quality of our performance. Consolidated revenue for the quarter was at INR2,603 crores, representing a growth of 36% Y-on-Y, driven by strong performances across all the business. Coming to the India business, it delivered a 14% year-on-year growth in the quarter, led by the Human Health, which returned to double-digit growth at 11%. The commercial interventions initiated over the past few quarters are translating into visible improvement in field force productivity and execution. Growth is being supported by chronic and specialty therapies with strong performance in gynecology, cardiology, and emerging therapies. The specialty portfolio grew about 200 basis points ahead of the Indian pharmaceutical market during the quarter, and the overall growth gap versus the market has narrowed meaningfully. We expect the acute portfolio to improve progressively over the coming quarters as well. Animal Health maintained its strong momentum, growing 23% in Q2 FY27. In India, our near term objective is to reach market level growth in the next 2 to 3 quarters. We expect this to be driven by sharper execution in focused brands and priority markets, stronger Page 2 of 13 Alembic Pharmaceuticals Limited November 04, 2026 presence in metros and a higher contribution from chronic and specialty therapies while broadly maintaining the current field force scale. Moving on to the international business. The U.S. Generics delivered an exceptional quarter with revenue growing at 72% year-on-year. The performance was supported by strong volume growth in the base portfolio as well as meaningful contributions from recent launches. While the new launches, including bosutinib, provided an important uplift, the underlying business also demonstrated healthy operating momentum, growing at 23%. During the quarter, we launched three generics, filed five ANDAs and received one approval. Our existing pipeline supports a steady cadence of more than 30 launches over the next 18 months with around a quarter of them comprising of FTF or shared day-1 opportunities. This gives us visibility beyond the current period of exclusivity-led contribution. We are also pleased to announce the expansion of our strategic collaboration with DifGen Pharmaceuticals, a U.S.-based manufacturer of complex generics. The expanded partnership gives us access to a differentiated portfolio of over 20 products across transdermal patches, complex injectables, ophthalmics and other specialized dosage forms, including select first-to- file and day-1 opportunities. The portfolio addresses an aggregate U.S. reference market of approximately $5 billion and also provides access to U.S. manufacturing capacity which can be reserved for us. Contributions are expected to begin from FY28 with the initial wave of launches providing near-term revenue visibility and a platform for progressively increasing contribution to the U.S. business as the portfolio is commercialized over the next few years. Importantly, this is a capital-efficient way to deepen our complex generics pipeline, broaden our mix towards higher-value opportunities and build greater manufacturing optionality in the U.S. We believe this collaboration will strengthen both the visibility and quality of growth in our U.S. business over the medium term. Moving to the U.S. branded business, the portfolio is now in place and commercial traction is building. Prescription trends, formulary access and physician response are progressing in line with our plan. The Alembic Therapeutics' portfolio is beginning to gather pace and contributed close to 3% of total U.S. revenue during the quarter. Our current investment in U.S. branded business is planned and focused on establishing a scalable franchise with meaningful medium- to long-term potential. The ex-U.S. markets delivered steady growth of 12% Y-on-Y, and we continue to strengthen our direct presence in priority markets like Europe, LatAm, and select ASEAN markets. The API business benefited from the breadth of its customer and product base as it sustained a strong growth trajectory and delivered volume-led growth of 39% Y-on-Y, which includes certain CMO deliveries to its key customers during the quarter. As we look ahead, our priorities in the international business are to sustain execution in the base business, strengthen the value and differentiation of our R&D pipeline and scale the U.S. Page 3 of 13 Alembic Pharmaceuticals Limited November 04, 2026 branded portfolio. Turning to the outlook. Our strong performance in the first half gives us greater confidence in the outlook for the second half of FY27. We now expect the U.S. b [Showing first 8,000 characters — download PDF for full document]