Transcript of Earnings Conference Call - Q1FY27

Date: August 12, 2026 Department of Corporate Services, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001 Scrip Code: 539997 Subject: Transcript of Earnings Conference Call – Q1FY27 Pursuant to Regulation 30 and 46 (2)(oa) read with clause 15 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 please find enclosed herewith a copy of transcript of the audio conference call recording of the Companys Investors Call held on August 10, 2026, at 4:00 p.m., on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2026. The transcript of recording can also be accessed on the Companys website https://www.kwalitypharma.com/Schedule%20of%20Analysts%20or%20Institutional%20Investors%20meet%20and%20Presentations%20made%20to%20them.php Kindly take the same on your record. Thanking You, Yours faithfully, For Kwality Pharmaceuticals Limited Gurpreet Kaur Company Secretary & Compliance Officer “Kwality Pharmaceuticals Limited Q1 FY27 Earnings Conference Call” August 10, 2026 MANAGEMENT: MR. ADITYA ARORA – DIRECTOR AND CHIEF FINANCIAL OFFICER – KWALITY PHARMACEUTICALS LIMITED MODERATOR: MS. SOUMYA – GO INDIA ADVISORS LLP Page 1 of 18 Kwality Pharmaceuticals Limited August 10, 2026 Moderator: Ladies and gentlemen, good day and welcome to Kwality Pharmaceuticals Q1 FY27 Earnings Conference Call hosted by Go India Advisors LLP. As a reminder, all participants' lines will be in listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this 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 conference to Ms. Soumya from Go India Advisors LLP. Thank you, and over to you, ma'am. Soumya: Good evening everyone, and welcome to Q1 FY27 earnings con call of Kwality Pharmaceuticals Limited. We have on call with us Mr. Aditya Arora, Director and CFO. We must remind you that the discussion on today's call may include certain forward-looking statements and must be therefore viewed in conjunction with the risks pertaining to the business. I request the management to take us through the quarterly updates, and post that, we will open the floor for Q&A. Thank you and over to you, sir. Aditya Arora: Good evening everyone. Welcome to con call of Kwality Pharmaceuticals. I will give you a very brief introduction about the total plants and the revenue. Kwality Pharmaceuticals has five operational units which includes biologicals, general facility, oncology, cephalosporin, beta- lactam, and hormone plant, which is the sixth unit, will be commencing by November 2026. Our total sales revenue expected in FY27 will be plus INR700 crores, and with EBITDA margins between 26% to 27%. We are registering new molecules every quarter-on-quarter and this shows the growth in our revenue in each quarter. We welcome all your questions, please feel free. Moderator: Thank you very much. We will now begin with the question-and-answer session. The first question is from the line of Aryan Mehta from Shravas Capital. Please proceed with your question. Aryan Mehta: Hi, congratulations on the good sets. I wanted to understand the change in mix for this quarter. So why was onco at 20% kind of down from 26%? So are we guiding, still guiding for 30% by this year or next year? And the 1% revenue from Unit 5 also, so can you throw some light on that? Aditya Arora: Okay sir. Firstly, oncology will be roughly between 25% to 30% considering the timelines for getting the oncology registrations will be, getting a little delayed. So probably we will have the expected registrations by quarter 4 of FY27. This quarter, in this last two quarters, we got multiple registrations from the general facilities, from MENA region and the LATAM region. Specifically from Mexico and few from Algeria, Morocco, and Tunisia. Page 2 of 18 Kwality Pharmaceuticals Limited August 10, 2026 Regarding the biological section, Unit 5, the pre-clinical was successfully completed for Erythropoietin. Now we have got the permission to conduct the clinical trials. The clinical trials will probably begin by November or December this year. Initially, we will finish with the PK/PD study which is the laboratory analysis of the human study, and then finally the clinical closure will be by October or November FY28. So we are likely to commence the Erythropoietin sales in the domestic and international market before end of calendar year '27. Aryan Mehta: But wouldn't there be some-time between the submission and then the approval and then you can launch, right? So wouldn't that be around 6 months to a year? For Erythropoietin… Aditya Arora: Indian sales will be, sir, Indian sales will be immediate, sir. And regarding the foreign submissions, we do not have to wait for complete clinical trials. We can begin with the first 4 month study of 40 patients, and we can start submissions of the dossier. So by November or December we will have, at least in the ROW market, 10 to 12 countries the product will already be registered. Aryan Mehta: Okay, so November, December of 2027, right? Aditya Arora: Correct sir, correct sir. We have actually already started registering in many countries where the evaluation will begin by next year. So we have already started filing in almost 10 to 12 geographies. Aryan Mehta: Okay, thanks. I wanted to understand a bit more on our distributors that we work with. So understand we have good visibility from the distributors, that's why we are guiding so aggressively, and we have also stuck to our guidance for this quarter. So we are in markets which are barely growing in single digits, right? But how are we growing so fast in these end markets? Can this be attributed to our distributors which are like top distributors of that country or is it the quality of products or presence in certain niche products? So I just want to understand what is the right to win and how are we growing so fast? Aditya Arora: So basically sir, Kwality Pharma is becoming more competitive due to the number of plants which we have in portfolio, and the number of products and the lines. Along with this, all these lines are PIC/S certified, European certified. Along with this, we have a big basket of ready dossiers with bioequivalence studies. So for example, if we get registrations in highly regulated country, we can use the same dossier in filing across 60 or 70 countries. So the model is very simple that we want to become, masters in the first generic and second generic market. So we have prepared a big portfolio of those products which are where there is a huge gap in the market between the reference product and the first generic. So we want to, capture that gap and we want to, create a portfolio of at least 200 to 250 products wherein we can do filing across 70- 80 countries. And every quarter we are getting at least two or three registrations. Page 3 of 18 Kwality Pharmaceuticals Limited August 10, 2026 So each registration contributes roughly around 1.5 million or 2 million on yearly sales. And last three quarters we have got almost 60-70 registrations. So as on each quarter we get more registrations, we will be continuously revising the revenue targets. Aryan Mehta: Okay, that's great. So like basically identified certain niche where there is a gap between the reference product and generics. But how come is it that other companies are not looking at these gaps? I mean, what is our like specialty here? I mean there is a lot of competition, right, in generics? Aditya Arora: There is actually very less competition, sir. Considering, let's say the LATAM market, there are not many players who are, actively supplying or registering these products. How many plants are Colombian approved, COFEPRIS Mexico approved, European approved with a [Showing first 8,000 characters — download PDF for full document]