Investor Presentation for Q1 of FY27

GRANULES Date: July 21, 2026 National Stock Exchange of India Limited BSE Limited Symbol: NSE: GRANULES: BSE: 532482 Dear Sir, Sub: Presentation to the Analysts/Investors We refer to the unaudited financial results for the first quarter of the FY 2026-2027, submitted to you today i.e., on July 21, 2026. We are now enclosing the presentation in this regard to the Analysts/Investors. This is pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kindly take the above information on record. For GRANULES INDIA LIMITED CHAITANYA TUMMALA (COMPANY SECRETARY & COMPLIANCE OFFICER) REGISTERED OFFICE Granules India Limited CIN: L24110TG1991PLCO12471 15" Floor, Granules Tower, Botanical Garden Road, Kondapur, Hyderabad - 500084, Telangana, India Contact Us: Tel: +9140 69043500 | Fax: +91-40-23115145 | mail@granulesindia.com www.granulesindia.com Granules India Limited Earnings Presentation Q1 FY27 21st July 2026 Safe Harbour Statement ThePresentationistoprovidethegeneralbackgroundinformationabouttheCompany’sactivitiesasatthedateofthePresentation. The information contained herein isfor general information purposes only and based on estimates and should not be consideredas a recommendation that any investor should subscribe / purchase the company shares. The Company makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completenessorcorrectnessofanyinformationcontainedherein. This presentation may include certain “forward looking statements”. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ materially from these statements.Importantfactorsthatcouldcause actual results to differmateriallyfrom ourexpectations include, amongstothers general economic and business conditions in India, ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currencies, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global pharmaceuticals industries, increasing competition, changes in political conditions in India or any other country and changes in the foreign exchange control regulations in India. Neither the company, nor its directors and any of the affiliates or employee have any obligation to update or otherwise revise any forward-looking statements. The readers may use their own judgment and are advised tomaketheirown calculationsbeforedecidingonanymatterbasedontheinformationgivenherein. Nopartofthispresentationmaybereproduced,quotedorcirculatedwithoutpriorwrittenapproval fromGranulesIndiaLimited. Granules India Limited | Earnings Presentation Q1 FY27 22 Management Commentary Dr. Krishna Prasad Chigurupati “ Q1 FY27 marks an important step forward for Granules India as the foundations Chairman & Managing Director strengthened during FY26 begin to translate into greater execution confidence, strategic clarity and business resilience. Our focus remains firmly on regulatory and quality excellence, portfolio transformation toward complex and differentiated products, geographic and customer diversification and scaling new growth engines. While external cost pressures and supply chain volatility require continuous management for next couple of quarters, we are continuing to invest in R&D largely towards Complex Gx, digitalization, operational excellence, sustainability and talent to support long-term value creation. With a stronger organization, a more balanced portfolio and clear strategic priorities, we remain confident in Granules’ ability to deliver sustainable growth for allstakeholders. ” Revenue Margin % EBITDA PAT ₹14,768 Mn 65.6 % ₹3,389 Mn ₹ 1,800 Mn +22% YoY Growth +74 bps YoY +37% YoY Growth +60% YoY Growth Granules India Limited | Earnings Presentation Q1 FY27 33 Q1FY27 Key Business Takeaways Revenue up 22% YoY to ₹14,768 Mnwith PAT +60% to ₹1,800 Mn and EBITDA +37% YoY Complex Gx mix now 50% of FD portfoliolifted gross margin to 65.6% and EBITDA margin to 22.9% (+256 bps YoY) Net Debt/EBITDA improved to 0.07x from 0.34x; ROCE up to 18.0%(~196 bps YoY) on ₹3,874Mn cash flow from operations US products portfolio -Rank #1 in 10 products out of 35 (29%) and Top-3 in 18 products (50%) as per MAT May’26underscoring deep market leadership 5 FD and 4 API filings in Q1FY27; R&D ₹880 Mn (6.0% of sales) seeding a high-value pipeline for future growth. 2nd sole First-to-File —Sodium Oxybate ER (~Brand value $267M MAT Apr’26)plus 25 ANDAs under approval with market size of ~$40Bn (Brand + Gx) as per May’26 MAT, powering a high-value next launch wave. GPI received a VAI-classified and received FDA EIRfor its April 2026 inspection Granules India Limited | Earnings Presentation Q1 FY27 44 Quarterly Performance Q1 FY27 Q1FY27 Financial Performance ▪ Portfolio enrichment toward Complex Gx (50% of FD revenue, increased spending in complex pipeline) is strengthening quality of business. ▪ Strong EBITDA growth of 37% YoY, with capital discipline further supporting healthy free cash flow generation. ₹3,389 Mn ₹1,800 Mn ₹14,768 Mn 65.6% EBITDA of 22.9% +256 bps YoY PAT of 12.2% -99 bps QoQ Revenue ₹12,101 (+22% YoY) Gross Margin (+74 bps YoY) Growth of +60% YoY PBT before exceptional items growth Revenue ₹14,706 (+0.4% QoQ) Gross Margin (-11 bps QoQ) (Growth of +37% YoY, -4% QoQ) of +41% YoY, -2% QoQ 18.0% 0.07x 29% ₹3,874 Mn Cash Flow from Operations ROCE Net Debt/EBITDA Net Working Capital to Sales ₹1,003Mn in Q4FY26 (17.6% in FY26) (0.34x in FY26) (30% in FY26) ₹2,806Mn in Q1FY26 ROCE = Annualised EBIT / Average Capital Employed NWC to Sales =Average (Current Assets –Current Liabilities)/ Revenue Capital Employed = Total assets –Current liabilities excluding Net Debt = Interest bearing borrowings –Cash & Bank Balance short term borrowings –Cash & Bank Balances Current Assets =Total Current Assets –Cash & Bank Balance Current Liabilities = Total Current Liabilities –Short-term Borrowings Granules India Limited | Earnings Presentation Q1 FY27 66 Q1FY27 Financial Performance ₹ Mn Focused investments in Complex Gx R&D and talent are enhancing our future growth prospects while reinforcing the quality of earnings Particular Q1 FY27 Q1 FY26 Y-o-Y Q4 FY26 Q-o-Q Revenue 14,768 12,101 22% 14,706 0% Gross Margin 9,690 7,850 23% 9,665 0% % of Gross Margin 65.6% 64.9% 74 bps 65.7% -11 bps Manpower Cost 2,546 2,028 26% 2,404 6% R&D 880 678 30% 781 13% Other Expenses 2,875 2,678 7% 2,958 -3% EBITDA 3,389 2,467 37% 3,521 -4% % of EBITDA 22.9% 20.4% 256 bps 23.9% -99 bps PBT (Before Exceptional 2,404 1,704 41% 2,464 -2% items) Exceptional Items / (Income) 0 259 -159 PAT 1,800 1,126 60% 2,016 -11% % of PAT 12.2% 9.3% 288 bps 13.7% -152 bps Peptides CDMO had an EBITDA loss of ₹124Mn in Q1FY27 as compared to positive EBITDA of ₹15Mn in Q4FY26 in line with project milestones services and projects Granules India Limited | Earnings Presentation Q1 FY27 77 Revenue Diversification: Segments and Regions ₹ Mn ▪ YOYHigherRevenuegrowthofFinishedDosagescontributedbyComplexGx. ▪ YOYHighergrowthinEuropeandRestofWorldareenablingustomaximizereturnonR&Dcapital. Segments Regions 10,927 10,691 12% 11% 9% 8,989 1,768 1,597 1,131 16% 17% 13% 1,610 2,436 2,539 72% 72% 74% 73% 74% 1,9431,975 1,627 1,2971,3411,194 4% 5% 2% 10,563 10,571 9,360 13% 13% 600 699 13% 9% 9% 10% 291 FD API PFI CDMO Q1FY27 Q4FY26 Q1FY26 Q1FY27 Q4FY26 Q1FY26 North America Europe ROW FD +22% API +19% PFI +9% CDMO +106% North America +13% Europe +51% ROW +56% Growth FD +2% API -2% PFI -3% CDMO -14% North America 0% Europe -4% ROW +11% Growth Granules India Limited | Earnings Presentation Q1 FY27 8 Granules Formulations Portfolio Segmentation Segment Definition Products where [Showing first 8,000 characters — download PDF for full document]