Analysts/Institutional Investor Meet/Con. Call Updates

Date: 18th August, 2026 The Manager The Manager, BSE Limited NSE Limited, P. J. Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex, Mumbai-400001 Bandra (E), Mumbai- 400051. (BSE Scrip Code: 544742) (NSE Symbol: SAIPARENT) Dear Sir/Madam, Unit: Sai Parenterals Limited Sub: Disclosure under SEBI (Listing and Disclosure Requirements Regulations,2015) Transcript of Earnings call held on 12th August, 2026. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Please find enclosed the transcript of the earnings conference call conducted on Wednesday, 12th August 2026 at 02:30 p.m. (IST). The transcript of the earnings call is also available on website of the company i.e., https://www.saiparenterals.com/ You are requested to kindly take the aforesaid on your record. This is for your information and records. Thanking you, Yours faithfully, For Sai Parenterals Limited Mr. Anil Kumar Karusala Managing Director (DIN- 01866646) “Sai Parenterals Limited Q1 FY '27 Earnings Conference Call” August 12, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 12th August 2026 will prevail. MANAGEMENT: MR. ANIL K K – CHAIRMAN AND MANAGING DIRECTOR, SAI PARENTERALS LIMITED MR. MARK THULBORNE – CHIEF EXECUTIVE OFFICER, NOUMED MR. ANIL KUMAR – CHIEF FINANCIAL OFFICER, SAI PARENTERALS LIMITED Page 1 of 15 Sai Parenterals Limited August 12, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Sai Parenterals Limited Q1 FY '27 Earnings Conference Call. This conference call may contain forward-looking statements about the company which are based on the beliefs, opinions, and expectations of the company as on the date of this call. These statements do not guarantee the future performance of the company and may involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the 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 “*”, then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Anil K K - Chairman and Managing Director for the opening remarks. Thank you and over to you, sir. Anil K K: Good evening, everyone. Thank you for joining our Earnings Conference Call to discuss the performance of Q1 FY '27. I hope everyone had an opportunity to go through the Financial Results, Press Release and Investors' Presentation, which are uploaded on the Stock Exchanges as well as on our Company's Website. Q1 FY '27 is only our 2nd Quarter of reporting on the enlarged consolidated base, a base that was first captured in the 4th Quarter of Financial Year 2026. Noumed Pharmaceuticals was consolidated with effect on 12 November, 2025. Consequently, the 1st Quarter of the previous year, that is Q1 FY '26, carries no contribution from Noumed, and thus, year-on-year comparison is not like for like. Consolidated total revenue for the quarter stood at Rs. 182 crores against Rs. 201 crores in the Q4 FY '26. Gross profit was Rs. 76 crores at gross margin of 41.8%. EBITDA stood at Rs. 27 crores at a margin of 14.9% and profit after tax at Rs. 8 crores at margin of 4.3%. Mr. Anil Kumar - CFO, will take you through the details shortly. The 1st Quarter therefore represents approximately 24% of our full-year revenue target of Rs. 750 crores. That is ahead of where the 1st Quarter needs to be, given our guidance that the year splits 45:55 between the two halves. Our order flow has always been weighted towards the second half, with the 4th Quarter historically our strongest. Gross margin improved to 41.8% from 38.1% in the preceding quarter, an expansion of 370 basis points. Our contracts carry a window of 90-120 days between a price revision being notified and being realized. That lag is now beginning to unwind in our favor. The recovery of raw material cost increases remain partial at this stage, and we expect full further benefit to flow across the contract book through the 2nd Quarter. EBITDA of Rs. 27 crores at a margin of 14.9% and improvement Page 2 of 15 Sai Parenterals Limited August 12, 2026 of 50 basis points over the 14.4% recorded in Q4 FY '26. I would emphasize that this improvement was achieved on a lower revenue base, and it was achieved despite absorbing elevated air freight cost in Australia. The situation in West Asia delayed consignments from the Indian contract manufacturing network into our Australian market. This affected the industry as a whole, and we took the decision to move available inventory by air rather than by sea in order to protect our customer commitments. That decision carried a cost. In absence of such constraints, our margins for the quarter would have been better. Let me now turn to the strategic developments approved by the Board of Directors yesterday: The Board has approved a proposed variation in the objects of the IPO issue. In substance, we propose to redeploy Rs. 83.83 crores originally earmarked for the capacity expansion and upgradation of our manufacturing facilities, that is, Unit-1 and Unit-2, and Rs. 18.02 crores originally earmarked for the establishment of new research and development center towards majority stakes in two operating pharmaceutical assets. The aggregate amount involved is Rs. 101.85 crores. The proposal is subject to the approval of shareholders. The purpose for which the IPO funds were raised namely European GMP compliant injectable capacity for regulated markets and a dedicated research and development platform remains entirely unchanged. What is being varied is only the manner of execution. The reason for the variation is a change in the regulatory position in Hyderabad. Under the Hyderabad Industrial Lands Transformation Policy, which is called as HILTP policy, units situated within the outer ring road may convert that land and relocate outside it and materially for us, upgradations within the outer ring road are no longer permitted. Unit-1 and 2 at Jeedimetla fall squarely within that parameter. There is also a physical constraint we cannot work around. The Jeedimetla site measures approximately 3,100 square yards against the 12,000-13,000 square yards that EU-GMP injectable plant of this scale requires. The site cannot be expanded, so no adjoining land is available to us. So the alternate of building from the ground up afresh would have cost us extended time. A Greenfield project began today would have required 7-8 months for land allotment alone before construction and could even commence. Against that background, the company proposes to acquire 60% equity stake in Saicriti Pharma Private Limited, a newly established company for Rs. 83.83 crores. Saicriti has been formed for the purpose of constructing a critical care injectable facility at Gummadidala outside the outer ring road on a site of over 15,000 square yards where already approvals are in place and civil work is already underway. The facility is being built to European GMP and USFDA standards with a dedicated capability in complex injectables, lyophilisation and GLP, along with site general injectable capacity. I want to be precise on one point that anticipate you may inquire. This is an investment into a project under construction. It is not the purchase of an established business. On the funding structure, the total project cost is estimated Rs. 215 crores. The company contribution is Rs. 83.83 crores is unchanged from the amount originally earmarked for upgrading one and two. The balance 40% is being funded by the promoters of Saicriti and the residual requirement through project debt. The entire Rs. 83.83 crores is applied towards the construction of the facility and no part of it represents consideration for an existing business, a customer ba [Showing first 8,000 characters — download PDF for full document]