Investor Presentation

Date: August 14, 2026 To, To, BSE Limited National Stock Exchange of India Limited Listing Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, 5th floor, Plot no. C/1, G Block Dalal Street – Fort Bandra Kurla Complex, Bandra (East), Mumbai 400 001 Mumbai - 400 051 Scrip Code: 544578 NSE Symbol: RUBICON ISIN: INE506V01022 Sub: Investor Presentation Dear Sir/Madam, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the Investor Presentation dated August 14, 2026. This intimation is also being uploaded on Company’s website and can be accessed at www.rubicon.co.in under the Investors Section. Kindly take the above information on record. Thanking you, Yours faithfully, For Rubicon Research Limited (Formerly known as Rubicon Research Private Limited) Deepashree Tanksale Company Secretary M. No. A28132 Encl. as above Rubicon Research Limited (formerly known as Rubicon Research Private Limited) | CIN: L73100MH1999PLC119744 Registered Office: Plot No. B-75, MedOne House, Road No. 33, Wagle Estate, Thane West, PIN – 400 604, Maharashtra, India (cid:44562)(cid:44563) +91-22-61414000 / 50414000 | (cid:44604)(cid:44605)(cid:44606)(cid:44607)(cid:44608) reachus@rubicon.co.in | (cid:33362) www.rubicon.co.in Rubicon Research Limited Investor Presentation Q1 FY 2026-27 Notice to reader This presentation may contain statements that constitute “forward-looking statements” within the meaning of applicable laws and regulations, including the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. These statements relate to the Company’s future business prospects, operations, financial performance, and the industry in which it operates. Forward-looking statements are based on current expectations, estimates, and projections about future events and are subject to risks, uncertainties, and assumptions that couldcauseactualresultstodiffer materiallyfromthoseexpressed orimplied. Such statements include, but are not limited to, statements regarding product development, regulatory approvals, manufacturing capabilities, market growth, business strategy, and future financial results. Words such as “anticipate,” “believe,” “expect,” “intend,” “plan,” “will,” “may,” “should,”“estimate,”“project,”andsimilarexpressions areintendedtoidentifysuchstatements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements,whichspeak onlyasofthedateofthispresentation. This presentation is for information purposes only and does not constitute or form part of an offer, solicitation, or recommendation to purchase or subscribe for any securities of the Company, nor should it be regarded as a substitute for the exercise of independent judgment. The Company, its directors,anditsmanagement acceptnoliabilitywhatsoeverforanylossarisingfromtheuse of,orrelianceon,theinformation presented herein. This presentation is not intended to endorse, advertise, promote or recommend the use of any products that may be listed herein which are for representation purpose only. Any product information contained herein is not intended to provide complete medical information and is not intended to be used as an alternative to consulting with qualified doctors or healthcare professionals. Nothing contained herein should be construedasprovidingmedicaladviceorrecommendations andshouldnotbereliedonasthebasisforanytreatmentrelateddecisionoraction. Agenda 1 Consolidated Financial Overview 4-13 2 Company Overview 14-34 Consolidated Financial Overview Q1 Financial Highlights (₹ millions) Revenue from EBITDA PAT Operations Q1FY27 5,343 1,312 848 Q1FY26 3,525 797 433 Y-o-Y 51.6% 64.6% 95.8% #Q1 FY27 Numbers include impact of consolidation post Arinna acquisition –Revenue of INR 128 Mn, contribution to EBITDA is not material. Summary Income Statement ₹ in Million Q1 FY27 Q1 FY26 % Growth Q4 FY26 FY26 FY25 % Growth Revenue from Operations 5,343 3,525 51.6% 5,139 17,540 12,843 36.6% Gross Profit 3,543 2,430 45.8% 3,332 11,661 8,867 31.5% Operating Pre-R&D EBITDA 1,871 1,146 1,781 5,938 3,967 Pre-R&D EBITDA (%) 35.0% 32.5% 34.7% 33.9% 30.9% R&D Expense 580 355 594 1,935 1,325 R&D Expense (%) 10.9% 10.1% 11.6% 11.0% 10.3% Operating EBITDA (A) 1,291 791 63.2% 1,187 4,002 2,643 51.5% Operating EBITDA Margin (%) 24.2% 22.4% 23.1% 22.8% 20.6% Other Income - recurring (B) 21 6 26 77 36 EBITDA ( A + B) 1,312 797 64.6% 1,213 4,080 2,679 52.3% EBITDA Margin % 24.6% 22.6% 23.6% 23.3% 20.9% Other Income (one - off)* 36 - - - PBT 1,104 596 85.3% 987 3,205 1,945 64.8% PAT 848 433 95.8% 768 2,467 1,344 83.6% EPS (Fully diluted) 5.08 2.79 82.2% 4.60 15.31 8.68 76.3% * Insurance claim received on goods lost in transit 6 Summary Balance Sheet ₹ in Million 30-Jun-26 31-Mar-26 Total Equity 13,913 12,888 Borrowings 3,272 2,594 Sources of Funds 17,186 15,482 Fixed Assets 7,966 5,726 Net Non-current Assets / (Liabilities) 37 133 •Inventory (At Cost) 7,458 7,290 •Trade Receivables 5,915 5,087 •Trade Payables & Other current Liabilities (net of assets) (6,598) (6,214) Net Working Capital 6,775 6,163 Capital Employed 14,778 12,022 Cash & Cash Equivalents 2,408 3,460 Application of Funds 17,186 15,482 Days of Net Working Capital 114 126 ROACE (Annualized, pre-tax) 36% 36% Above ROACE is after considering capital employed in below mentioned areas which is pre-revenue /yet to materially contribute toreturns: A. Pre-Revenue manufacturing site ₹ in Million (i)Pithampur Plant 1,496 (ii) New manufacturing facility -CSN 282 B. Arinna 1,759 C. Total (A+B) 3,537 • Consequent to closing the INR 1,759 Mn acquisition of Arinna, its Financials have also been consolidated as on 30-Jun’26 • Quarterly fluctuations led to improvedNWCapof 114 days in Q1 FY27 vs 126 days for FY 26, but NWCap would normalize in the typical 125-130 days over coming quarters 7 Summary Cash Flow Statement ₹ in Million Q1 FY2027 FY2026 Cash flows from operating activities: Profit before tax 1,104 3,205 Non-Cash / Non operating items 286 1,076 Operating cash flows before working capital changes 1,390 4,282 Working Capital Changes (937) (1,146) Cash generated from operating activities 452 3,135 Net Income tax paid (167) (1,085) Net cash flow generated from operating activities 285* 2,050 Cash flows used in investing activities (1,412)^ (4,097) Cash flows from / (used in) financing activities 590 2,831 Netincrease in cash and cash equivalents (536) 784 *Net Cash generated from Operating Activities for Q1FY27 was adversely affected by delay in receiving certain significant GST refunds, which post quarter end have begun to normalize and hence commensurate benefit of this would be visible in operating cash flows of Q2FY27 ^ Includes utilisation of Bank Depositsof ₹ 705 Mn, acquisition of Arinna ₹ 1,759 Mn & Capex of ₹371 Mn Q1 Performance Summary o 51.6% revenue growth YoY, broad based as o Top 5 products –39% of revenue in Q1 FY27 vs 39%/35%/30%/34% in Q4/Q3/Q2/Q1 FY26 Revenue Growth o Top 10 products –55% of revenue in Q1 FY27 vs 57%/53%/51%/56% in Q4/Q3/Q2/Q1 FY26 o Pricing continues to remain stable driven by our focus on specialty / differentiated products o Continue to see strong revenue visibility in coming quarters USD revenue o USD revenue of $55 Mn for Q1 FY27 was up by 32% YoY ($42mn Q1 FY26). The slight sequential drop is owing to tactical measures taken by the company with respect to gross margins as explained on next slide. Q2 FY27 is tracking well for sequential USD revenue growth. Cash Flow o Cash flow from operations for the quarter is INR 285Mn* o Received 2 product approvals in Q1 FY27. Commercialisation rate continues to be strong as 88% of approved products are commercialised Approvals o Speci [Showing first 8,000 characters — download PDF for full document]