Investor Presentation for the Quarter ended on June 30, 2026

Date: August 05, 2026 The Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001. Script Code: 541096 Dear Sir/Madam, Subject: Investor Presentation for the quarter ended June 30, 2026. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Investor Presentation for the quarter ended June 30, 2026. Kindly take the same on your record. Thanking You, Yours faithfully, For, Bharat Parenterals Limited Mr. Sharmin Soni Company Secretary & Compliance Officer ICSI Membership No: A-75694 I N V E S T O R P R E S E N TAT I O N Q1 FY27 Results & Business Update BSE: 541096 · ISIN: INE365Y01019 August 2026 D I S C L A I M E R Except forthe historical informationcontained herein, statements inthis presentationandthe subsequent discussions, which includewords or phrases such as "will", "aim", "will likely result", "would", "believe", "may", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "likely", "project", "should", "potential","will pursue" and similar expressions orvariationsofsuchexpressionsmayconstitute"forward-lookingstatements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materiallyfromthosesuggestedbytheforward-lookingstatements.Theserisksanduncertaintiesincludebutarenotlimitedtoourabilityto successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes,investmentandbusinessincome,cashflowprojections,ourexposuretomarketrisksaswellasotherrisks. Bharat Parenterals Limiteddoes not undertake any obligationtoupdate forward-lookingstatements toreflect events or circumstances after thedatethereof. 03 / 35 Q 1 F Y 2 7 A T A G L A N C E CONS OLI DA TE D CONSOL. REVENUE Q1 FY27 CONSOL. EBITDA Q1 FY27 CONSOL. PAT Q1 FY27 ₹ 93.7 Cr ₹ 8.5 Cr ₹ (3.6) Cr Q1 FY26 ₹116.0 Cr · (19.2%) YoY EBITDA Margin: 9.1% · Q1 FY26 11.9% PAT Margin: (3.8%) · Owners' share +₹1.0 Cr BPL STANDALONE REV. Q1 FY27 INNOXEL REVENUE Q1 FY27 V. HEALTHCARE REV. Q1 FY27 ₹ 55.5 Cr ₹ 21.4 Cr ₹ 25.1 Cr Q1 FY26 ₹94.4 Cr · (41.2%) YoY Q1 FY26 ₹8.1 Cr · +164.8% YoY Q1 FY26 ₹16.5 Cr · +52.2% YoY MANAGEMENT COMMENTARY • Revenue ₹93.7 Cr, (19%) YoY —the whole decline is standalone, measured against the largest revenue quarter in the Company's history; the ₹210 Cr institutional order's opening tranche is being compared with its closing tranche • The quarter changed the quality of revenue more than the quantity: gross profit flat at ₹47.4 Cr with gross margin up ~1,000 bpsto 50.6%; EBITDA ₹8.5 Cr against ₹13.78 Cr in Q1 FY26 • Y/Y EBITDA decline has entirely been due to increased —operating expense,( +16.5% Y/Y to ₹38.9 Cr,) substantially all at Innoxel and Varenyam Healthcare building ahead of contracted forward revenue. With both the subsidiaries scaling up revenue, EBITDA margin will automatically revert to normal. • Innoxel +165% and Varenyam Healthcare +52% now contribute 46% of consolidated revenue before eliminations, against 21% a yearago Consolidated financial metrics | P&L CONS OLI DA TE D Particulars (₹ Cr) Q1 FY27 Q1 FY26 YoY % Q4 FY26 QoQ % FY26 Revenue from operations 93.7 116.0 (19.2%) 99.6 (5.9%) 345.4 Other operating revenue 1.1 1.1 4.8% 3.6 (69.4%) 9.5 Total operating revenue 94.8 117.1 (19.0%) 103.2 (8.1%) 355.0 EBITDA* 8.5 13.8 (38.0%) (0.5) n.m. 15.8 EBITDA margin (%) 9.1% 11.9% (2.8pp) (0.5%) +9.6pp 4.6% PAT (3.6) (0.9) n.m. (8.2) 56.3% (27.3) PAT margin (%) (3.8%) (0.8%) (3.0pp) (8.2%) +4.4pp (7.9%) WHAT THE NUMBERS SAY · Q1 FY27 • Revenue (19%) YoY is entirely standalone —the ₹210 Cr order's opening tranche set against its closing tranche; contract lifecycle, not demand loss • Gross margin +1,000 bps to 50.6% held gross profit flat at ₹47.4 Cr; volume not repeated carried a ~24% gross margin vs 39.8%onrevenue retained • Opex +16.5% YoY to ₹38.9 Cr (41.5% of revenue vs 28.8%) is the entire EBITDA decline; ₹8.7 Cr of D&A keeps EBIT marginally negative • PAT ₹(3.6) Cr —owners of the parent +₹1.0 Cr, NCI ₹(4.6) Cr; group PAT excluding Innoxel was ₹6.8 Cr *EBITDA is struck before other income. Sum-of-parts P&L | Q1 FY27 05 / 35 CONS OLI DA TE D Entity-level disclosure for Q1 FY27 and FY26 full year Metric (₹ Cr) BPL Std Innoxel V. Healthcare V. Bio Elimination Consolidated Q1 FY27 · quarter under review Revenue from Operations 55.5 21.4 25.1 0.0 (8.3) 93.7 EBITDA 6.8 (1.8) 3.1 (0.1) 0.5 8.5 EBITDA % 12.3% (8.5%) 12.4% n.m. — 9.1% PAT 3.7 (10.4) 2.8 (0.1) 0.4 (3.6) PAT Margin 6.6% (48.4%) 11.2% n.m. — (3.8%) FY26 full year · consolidated audited results Revenue from Operations 234 72.4 58.4 0.0 (19.4) 345.4 EBITDA 21.1 (7) 2.5 (0.7) (0.1) 15.8 EBITDA % 9% (9.6%) 4.3% 0.0% 0.7% 4.6% PAT 16 (43.3) 2.3 (0.8) (1.5) (27.3) PAT Margin 6.8% (59.8%) 4% (0) 7.7% (7.9%) READING THE BRIDGE · Q1 FY27 • Sum-of-parts revenue ₹102.0 Cr less ₹8.3 Cr of intra-group trade (almost all BPL selling to VHPL) = ₹93.7 Cr consolidated • Consolidation adds back ₹0.5 Cr to EBITDA and ₹0.4 Cr to PBT —stock reserve, expense recharges and intra-group interest • Consolidated PAT excluding Innoxel is +₹6.8 Cr; Innoxel's ₹(10.4) Cr loss is what drives the consolidated deficit Quarterly trajectory | by entity · Q1 FY27 07 / 35 S T AN D ALO N E INNOX EL V H EAL T H C AR E Revenue (₹ Cr) Revenue (₹ Cr) Revenue (₹ Cr) 37.5 21.4 25.1 94.4 16.5 14.2 15.5 14.8 12.6 11.5 56.5 55.5 41.7 41.4 EBITDA % 16.2% 5.6% 8.4% 0.1% 12.3% (42.8%) (16.6%) (19.7%) 3.7% (8.5%) 9.7% 9.7% 6.3% (12.7%) 12.4% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 READING THE TRAJECTORY · THREE STORIES IN ONE CHART ▪ BPL₹55.5Cr—flatonQ4(₹56.5Cr)but(41%)againstthe₹94.4CrQ1FY26outlier,theopeningtrancheofthe₹210Crinstitutionalorder;EBITDAmarginback to12.3%from0.1% ▪ Twoconsecutivequartersat₹55-57Cr,33%abovethe₹41.7CrQ2FY26troughwhenthegeneralinjectableslinewasoutofservicefortheORABSupgrade ▪ Innoxel₹21.4 Cr (+165% YoY) offthe₹37.5Cr Q4spike, EBITDAstill₹(1.8)Cr —break-even not yet reached · VHPL ₹25.1Cr, a newhigh at 12.4%EBITDA, annualisingnear₹100Cr Track record into Q1 FY27 08 / 35 G R OU P Regulatory, commercial and infrastructure milestones delivered through FY26 —the platform Q1 FY27 is executing on YEAR IN REVIEW APR 2025 → MAR 2026 • USFDA inspection at Innoxel Baroda facility → EIR received → US commercial supply enabled • FAMHP (Belgium) EU-GMP inspection completed with zero critical/major observations • Audit clearances: Paraguay (27-May-2025, valid to May-2027) · Nigeria/NAFDAC (23-Sep-2025, valid to Sep-2028) · WHO-GMP renewed (13-Oct-2025, valid to Oct-2028) · State GLP & GMP renewed (15-Oct-2025) • 48 new product registrations across 40+ countries · 214 dossiers submitted in FY26 · Vietnam rep office initiation for SEAsia branded ramp • Jul 25, 2025: HSBC + CNBC-TV18 —Manufacturing SME of the Year (Health & Pharma), SME Champion Awards Season 2 RE G U L ATO RY C O M M E RC IAL INFRASTRU C TU RE RE C O G NITIO N • USFDA EIR (Innoxel, Apr-May'25) • Innoxel FY26: 23 deals signed (7 OL + • BPL: ORABS upgrade on General • HSBC / CNBC-TV18 SME Champion 16 CMO/CDO) Injectable Vial Line Awards Season 2 —Manufacturing • FAMHP Belgium EU-GMP —zero SME of the Year (Health & Pharma) • ₹72.4 Cr cumulative licensing • new Water System in Beta-Lactam critical/major revenue Block • WHO-GMP renewed to Oct-2028 (3 • 19 active partners (US 8 + EU 6 + • Beta-Lactam structural upgrades for yr) India 5) EU-GMP prep • Paraguay + Nigeria/NAFDAC + State • BPL: 48 new product registrations + GLP/GMP renewed 214 dossiers across LATAM/SE Asia/Africa I n d u s t r y B a c k d r o p Exports US$31.1 bn · Apr–May FY27 US$5.29 bn, +6.6% · domestic market US$29 bn CONS OLI DA TE D INDIA PHARMA EXPORTS FY26 · THE CORRIDORS [Showing first 8,000 characters — download PDF for full document]