Transcript of Earnings Call pertaining to Unaudited Financial Results of the Company for the quarter ended June 30, 2026.

August 3, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (E) Mumbai - 400 051 Dalal Street, Mumbai – 400 001 Symbol: STAR Scrip code: 532531 Dear Madam/ Sirs, Sub: Transcript of Earnings Call pertaining to Unaudited Financial Results of the Company for the quarter ended June 30, 2026. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of Earnings Call for the quarter ended June 30, 2026, conducted after the meeting of Board of Directors held on Friday, July 31, 2026, for your information and records. The said transcript is also available on the website of the Company at: https://www.strides.com/investors/financial-performance/quarterly-results Request you to kindly take the above on record. Thanks & regards, For Strides Pharma Science Limited, Manjula Ramamurthy Company Secretary & Compliance Officer ICSI Membership No. A30515 Encl: a/a Strides Pharma Science Limited CIN: L24230MH1990PLC057062 Corp. Off: Strides House, Bilekahalli, Bannerghatta Road, Bengaluru – 560 076, India |Tel: +91 80 6784 0000 Regd. Off: ‘Cyber One’, Unit No. 902, Plot No. 4&6, Sector 30A, Vashi, Navi Mumbai – 400 703, India | Tel: +91 22 2789 2924/3199 corpcomm@strides.com; www.strides.com “Strides Pharma Science Limited Q1 FY27 Earnings Conference Call” July 31, 2026 MANAGEMENT: STRIDES PHARMA SCIENCE LIMITED - BADREE KOMANDUR – MD & GROUP CEO - VIKESH KUMAR – GROUP CFO INVESTOR RELATIONS CONSULTANT - ABHISHEK SINGHAL Page 1 of 14 Strides Pharma Science Limited July 31, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Strides Pharma Sciences Limited Q1 FY27 Earnings Conference Call. 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 touchtone phone. Please note that this conference is being recorded. I now hand over the call to Mr. Abhishek. Thank you, and over to you, sir. Abhishek: Thank you, Shruti. Very good evening, and thank you for joining us today for Strides Earnings Call for the first quarter of financial year 2026-'27. Today, we have with us Badree, Managing Director and Group CEO; and Vikesh Kumar, Group CFO, to share the highlights of the business and financials for the quarter. I hope you've gone through our results release and the quarterly investor presentation that have been uploaded on our website as well as the stock exchange website. The transcript of this call will be available in a week's time on the company's website. Please note that today's discussion may contain forward-looking statements and must be viewed in context of the risk inherent in our business. After the end of this call, in case you have any further questions, please feel free to reach out to the Investor Relations team. I now hand over the call to Mr. Badree for his opening comments. Badree Komandur: Thank You, Abhishek. Good evening everyone, and thank you for joining us for the Strides Q1 FY27 earnings call. As always, I will begin with an overview of our business and operational performance for the quarter, followed by key updates across our key geographies and strategic initiatives. Vikesh will then take you through the financial performance in greater detail, after which we will be happy to take your questions. Before I get into the quarterly performance, let me briefly comment on the operating environment. The geopolitical situation, particularly arising from the ongoing conflict in the Middle East, continues to remain volatile. There has not been any meaningful change in the situation since our last earnings call, and the environment remains fluid with new developments emerging almost every day. Across the industry, we continue to see supply chain disruptions, elevated freight costs, longer transit times and inflationary pressures across multiple operating cost line items. We have been closely monitoring these developments and taking proactive actions to ensure continuity of supply to our customers and patients. Despite these external headwinds, we have delivered a steady revenue growth, maintained healthy gross margins and improved PAT, which reflects the resilience of the diversified business model we have built over the last few years. The strong growth we are seeing in our Ex-US business once again validates that our diversification strategy is working as intended. With this let me quickly give you a brief overview of the quarter. I am pleased to report that we have started FY27 on a steady note. For Q1 FY27, we delivered 13% year on year growth in Page 2 of 14 Strides Pharma Science Limited July 31, 2026 topline, supported by broad-based contributions across our business. Our Ex-US markets continued to demonstrate strong momentum, delivering 17% year-on-year growth. Over the last few quarters, we have consistently spoken about building a more diversified business model, and this quarter once again validates the strength of that strategy. From a profitability perspective, the quarter demonstrated the resilience of our operating model. Despite additional operating and freight cost of ₹131m arising from ongoing geopolitical situations, our EBITDA margins were maintained at 18.2%, broadly in line with the exit levels of Q4 FY26. Our continued focus on portfolio quality, gross margin management and cost optimization helped mitigate a significant portion of these external pressures. Coming to the US business, revenue for the quarter stood at ₹6,282 million or $68 million, reflecting a stable performance despite increased competition in certain products launched over the last few quarters. As we have consistently maintained, our US strategy continues to be centered on profitability and portfolio quality rather than pursuing growth at any cost. During the quarter, we launched two products and increased our commercialized portfolio to 72 products. We continue to hold top-three market positions in 37 products, which contribute approximately 70% of our US revenues, underscoring the strength and stability of our portfolio. We continue to see strong demand from our specialty customer base, particularly in products where we have established differentiated positions. We have also made significant progress in customer engagement over the last few quarters, helping us deepen strategic relationships and improve visibility for future growth opportunities. Controlled Substances continues to be an important growth lever for our US business, and we remain confident in the long-term opportunity. We have experienced delays in a few product approvals, which we expect to materialize over the coming quarters. In parallel, we continue to focus on niche domains such as Nasal Sprays, Transdermal Patches, Films and Controlled Substances. We now have multiple projects progressing across these technology platforms and continue to invest in building a differentiated pipeline that can support sustainable growth over the medium term. We expect additional filings, approvals and launches across these domains over the coming quarters. As we indicated during the Q4 call, we believe the growth trajectory in the US should improve over the course of the year, with H2 expected to be stronger, supported by new approvals, launches and portfolio optimization initiatives. I expect some of you may have questions around the evolving developments in the US pharmaceutical market, particularly around the proposed tariffs on generic pharmaceutical products starting August 2028. While the details continue to evolve and there remains limited visibility on the final implementation framework, we are closely monitoring developments. Page 3 of 14 Strides Pharma Science Limited July 31, 2026 From a Strides perspective, [Showing first 8,000 characters — download PDF for full document]