NOTICE OF 43RD AGM IS ENCLOSED

Date: August 09, 2026 The Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers 25th Floor, Dalal Street, Mumbai- 400001. Scrip Code: 539997 Subject: Submission of Annual Report for FY 2025-26 along with Notice of 43rd AGM of the Company scheduled to be held on 31st August 2026 Dear Sir/Madam, Pursuant to Regulations 30 and 34 of the SEBI (LODR) Regulations, 2015, as amended (’ Listing Regulations’), please find attached herewith the Annual Report of the Company for the FY 2025-26 along with Notice convening the 43rd Annual General Meeting ("AGM") of the Company on Monday, 31st August, 2026 at 12 :00 Noon. (IST) through Video Conferencing (VC) / Other Audio Visual Means (OA VM). In compliance with the relevant circulars issued by the Ministry of Corporate Affairs and SEBI, the said Annual Report and Notice of AGM are being dispatched electronically to those Members whose email IDs are registered with the Company/Bigshare Services Private Limited , Registrar and Share Transfer Agent of the Company/the Depositories, and also being uploaded on the Company’s website and can be accessed at www.kwalitypharma.com. Further, in compliance with Regulation 36(1)(b) of the Listing Regulations, a letter providing a web- link for accessing the Annual Report is also being sent to those Members who have not registered their e-mail IDs. The Company has appointed NSDL for providing e-voting facility (remote e-voting and e-voting at the AGM). The remote e-voting period commences on Friday, 28th August, 2026 at 9:00 A.M. (1ST) and ends on Sunday, 30th August, 2026 at 5:00 P.M. (1ST). The cut-off date for determining the eligibility of members for remote e-voting and e-voting at the AGM is Monday, 24th August, 2026. Detailed instructions for e-voting are provided in the notes to the AGM Notice. You are requested to please take the above on record. Thanking you, Yours faithfully, For Kwality Pharmaceuticals Limited Gurpreet Kaur Company Secretary & Compliance Officer ANNUAL REPORT 2025-2026 DEDICATED TO IMPROVING LIVES THROUGH QUALITY MEDICINES, INNOVATION AND CARE INNOVATION QUALITY CARE Driven By Science Assured in Every Step For a Healthier Life BOARD OF DIRECTORS CHIEF FINANCIAL OFFICER Mr. Ramesh Kumar (Managing Director) Mr. Ajay Kumar Arora (Whole Time Director) Mr. Aditya Arora Mrs. Anju Arora (Whole Time Director) Mrs. Geeta Arora (Whole Time Director) Mr. Aditya Arora (Whole Time Director) Mr. Vinod Kumar Sharma (Independent Director) Mr. Preetmohinder Singh Bedi (Independent Director) Mr. Prashanth Vellanki (Independent Director) Mr. Bhavesh Mahajan (Independent Director) Mr. Kartik Kapur (Independent Director) (resigned w.e.f. 02-06-2026) Mr. Swanith Kapoor (Independent Director) (appointed w.e.f. 02-06-2026) AUDITORS BANKERS M/s VIJAY MEHRA & CO. HDFC Bank Axis Bank Chartered Accountants Limited Limited, Head Office : D-351, Ranjit Avenue, Amritsar-143001 The Mall, Green Field Tel: 9878887627 Amritsar – 143001 Avenue, Majitha Road, Amritsar-143001. ICICI Bank Limited The Mall, Amritsar – 143001 COMPANY SECRETARY & COMPLIANCE REGISTRAR & SHARE TRANSFER OFFICER AGENTS Ms. Gurpreet Kaur BIGSHARE SERVICES PRIVATE LIMITED Office No S6-2, 6th floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai - 400093, India. Board No.: 022 62638200, Fax No: 022 62638299 Email: investor@bigshareonline.com Website: www.bigshareonline.com REGISTERED OFFICE 43RD ANNUAL GENERAL MEETING ON MONDAY 31ST AUGUST, 2026 Village Nagkalan, Majitha Road, Amritsar, Punjab AT 12:00 NOON THROUGH VIDEO – 143601, India CONFERENCING (“VC”) / OTHER Tel: 8558820862 AUDIO VISUAL MEANS (“OAVM”) Website: https://www.kwalitypharma.com/ E-mail: cs@kwalitypharma.com CONTENTS Description Page No. From The Managing Director’s Desk 1 Notice To The Members 2 Directors’ Report 27 Annexures of Director’s Report 44 Corporate Governance Report 56 MD and CFO Certification 83 Management Discussion and Analysis 85 Standalone Financial Statements 95 Consolidated Financial Statements 171 Annual Report 2025-26 FROM THE MANAGING DIRECTOR’S DESK Dear Shareholders, Three years ago, at a revenue of ₹250 crore in FY23, we told you we intended to double the business by FY26. We have reached that mark: FY26 closed with consolidated revenue from operations of ₹503 crore. So the promised target is achieved. That is the three-year story. Within in single-year one as well and on year-on-year basis, FY26 revenue grew nearly 36% over FY25's ₹370 crore. Profitability grew faster than revenue in FY26. Profit After Tax rose almost 69% year-on-year, from ₹39.8 crore to ₹67.3 crore, taking PAT margins from 10.8% to 13.4%, while EBITDA margins expanded by around 200 basis points from 22% to 24%. A richer product mix, growing contribution from regulated and semi- regulated markets, operating leverage, and increasing traction in registration-led business in our key geographies contributed to this. The year was not without its difficulties. Conflict in the Middle East and West Asia disrupted regional supply chains and delayed customer payments for much of FY26, keeping debtor days elevated at 208. We responded by tightening inventory management and payables, which brought our overall cash conversion cycle down from 208 days to 170 days even while the external environment remained difficult. That cycle has improved further in Q1 FY27. Some of what we built in FY26 will show results only in the years ahead. Our facilities underwent, and cleared, multiple international regulatory and customer audits during the year. On that foundation, we also stepped up our commercial presence, participating in more than 15 global pharmaceutical exhibitions across Latin America, Africa, the GCC, MENA, and Asia, with the aim of building direct relationships with customers rather than depending on intermediaries. The same long-term thinking shaped our pipeline decisions. We initiated a large-scale bioequivalence programme spanning more than 40 oral solid dosage molecules, to support a steady stream of global filings and make fuller use of our existing capacity. We also took further steps into biologics, with development underway on three new monoclonal antibodies i.e., Bio-similars (mAbs), all currently under global patent protection; We shall be among the first wave of generic entrants once these patents expire. The clearest marker of progress here is Erythropoietin (Kwalipoietin), our first biologic, which achieved successful pre-clinical outcomes during the year and remains on track for a planned CY2027 launch, subject to regulatory approvals. Capital expenditure continued alongside this work, including a dedicated hormone manufacturing facility and capacity enhancement in oncology and biologics using more advanced automation. We are also raising our FY27 guidance: we now target revenue of over ₹700 crore, up from our earlier guidance of ₹650 crore, with profitability expected to scale in tandem. We see potential further upside depending on the pace of approvals, registrations, and commercialisation across our priority markets. Over the longer term, we continue to work toward doubling revenue over the next three years, with a goal of ₹1,000 crore plus in topline by FY29. None of this would have been possible without the people who did the work our teams in quality control and quality assurance, regulatory affairs, manufacturing, finance, sales and marketing. We are grateful for the continued trust from our stakeholders. With gratitude and continued commitment, Ramesh Kumar Managing Director Annual Report 2025-26 KWALITY PHARMACEUTICALS LIMITED Regd. Office.:- VILLAGE NAGKALAN, MAJITHA ROAD, AMRITSAR – 143601 CIN : L24232PB1983PLC005426; Phone no. :-8558820862 Email Id:- ramesh@kwalitypharma.com; Website :- www.kwalitypharma.com ------------------------------------------------------------------------------------------------------------------------------------------ NOTICE Notice is hereby given [Showing first 8,000 characters — download PDF for full document]