Please find attached herewith Q1 FY27- Earnings Call Transcript.

20th August, 2026 The Corporate Relationship Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra East, Mumbai 400 001. Mumbai 400 051. Scrip Code: 539523 Scrip Symbol: ALKEM Sub: Q1 FY2027 - Earnings Conference Call Transcript Dear Sir(s) / Madam, We enclose herewith the transcript of “Q1 FY2027 Earnings Conference Call” which was hosted by the Company on Friday, 14th August, 2026. The said transcript shall also be made available on the website of the Company. Kindly take the same on record. Sincerely, For Alkem Laboratories Limited Manish Narang President - Legal, Company Secretary & Compliance Officer Encl.: a/a “Alkem Laboratories Limited Q1 FY27 Earnings Conference Call” August 14, 2026 MANAGEMENT: MR. SANDEEP SINGH – MANAGING DIRECTOR – ALKEM LABORATORIES LIMITED MR. NITIN AGRAWAL – CHIEF FINANCIAL OFFICER – ALKEM LABORATORIES LIMITED MS. PURVI SHAH – HEAD OF INVESTOR RELATIONS – ALKEM LABORATORIES LIMITED MODERATOR: MR. TUSHAR MANUDHANE – MOTILAL OSWAL FINANCIAL SERVICES LIMITED Page 1 of 12 Alkem Laboratories Limited August 14, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Alkem Laboratories Limited Q1 FY27 Earnings Conference Call hosted by Motilal Oswal Financial Services Limited. As a reminder, all participant lines will be in the lesson only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on a touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Tushar Manudhane from Motilal Oswal Financial Services Limited. Thank you, and over to you, sir. Tushar Manudhane: Thanks, Yusuf and sorry for the delay in the start of the call. Good evening, everyone, and warm welcome for first quarter FY27 earnings call of Alkem Laboratories. From management side, we have Mr. Sandeep Singh, Managing Director; Mr. Nitin Agrawal, CFO; and Ms. Purvi Shah, Head of Investor Relations. Over to you, Purvi. Purvi Shah: Thank you, Tushar. Good evening, everyone. On behalf of Alkem Laboratories, I welcome you all to our quarter 1 FY27 earnings call. Earlier today, we announced our financial results along with the press release and investor presentation, all of which are filed with the stock exchanges and are also available on our website. We hope you have had an opportunity to review them. Before we begin, I would like to remind everyone that this call is being recorded, and the audio recording and the transcript will be made available on the stock exchanges and our website shortly after the conclusion of the call. Please also note that today's discussion may include certain forward-looking statements, and these statements should be viewed in conjunction with the risks and uncertainties that are associated with our business and the environment in which we operate. With that, I now would like to hand over the call to our MD, Mr. Sandeep Singh, for his insights. Over to you, sir. Sandeep Singh: Thank you, Purvi. Good evening, everyone. Thank you for joining our call. The period under review has been one of continued execution of our strategy. While the operating environment remains dynamic, we have stayed focused on the fundamentals, strengthening our core business, improving operational efficiency and investing selectively in areas that can support a sustainable and profitable growth. We are encouraged by the progress we are making across these priorities. At the same time, we remain conscious of external challenges and are maintaining a disciplined approach to capital allocation, costs and risk management. I will briefly walk you through the key developments and our outlook, after which we will be happy to take questions and engage. The key highlights are that our revenue from operation was INR3,740 crores with a year-on-year growth of close to 11%. India sales were INR2,497 crores and year-on-year growth was 10.3%. Page 2 of 12 Alkem Laboratories Limited August 14, 2026 International sales was INR1,222 crores with year-on-year growth of 16%. EBITDA margin was 20.5%. The growth was 3.7% year-on-year. R&D expenses was 4% of our total revenue. Profit before tax was more or less flattish, technically 1.8% of growth. And the net profit, there was a degrowth of 21.7%. This is purely because of taxation reasons, and I'm sure our CFO will deep dive into this later on. According to IQVIA data, the company registered a growth of 13.2% year-on-year versus the Indian pharmaceutical market, which grew by 12.2%. This is a 100 basis point outperformance just as we had guided to you earlier. Acute segment reported a growth of 12.3% versus the IPM, which grew by 10.1%, which is a 220 basis point outperformance. Chronic segment reported a growth of 17.9% versus the IPM, which grew by 15.4%, 250 basis point outperformance. We have outperformed IPM in 7 key focus therapies. Anti-infectives grew by 1.1x of the market, Gastro grew by 1.2x of the market, Vitamin and Minerals grew by 1.4x, Pain by 1.8x, Antidiabetic 1.4x and Respiratory 1.6x and last but not the least, Derma 1.6x. During the quarter, for the U.S. market, the company received 5 ANDAs approval. One of them was a tentative approval. Recently, our Daman facility has received an OAI status. We have already initiated comprehensive corrective and preventive actions and remain fully engaged with the regulator to address the observations. While this represents an important regulatory development, approved product supplies from the facility continue to the U.S. market without any interruption. With this, I open the floor for Q&A. Thank you. Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Saion Mukherjee from Nomura. Saion Mukherjee: Sandeep, you mentioned about growth in India higher than IQVIA market growth as per IQVIA. We have seen some improvement in growth rates, but 10.3% is lower than most of the pharma companies who have reported so far. Can you throw some light around the dynamics here? What do you think is impacting the growth rate in India? And is there something that would ease to improve growth rate in the quarters? Sandeep Singh: Yes. So see, I think the India growth rate is kind of dragged down because of the Trade Generics. Trade Generics growth was flattish to a very mild growth and Trade Generics now contribute reasonably to our domestic formulation. So that dragged it downside. Saion Mukherjee: What was the branded growth this quarter, branded generics? Sandeep Singh: It was 12%. Saion Mukherjee: Okay. Nitin, on -- the costs have gone up. I mean you had, I think, guided earlier employee cost and other expenses are on the higher side. So if you can indicate how much of the cost is on account of CDMO MedTech, which might not be contributing at this point or for that matter, if you can talk about the EBITDA loss from these businesses in this quarter? Page 3 of 12 Alkem Laboratories Limited August 14, 2026 Nitin Agrawal: Sure. So in terms of employee cost, yes, the growth is more than 16% in the quarter. There are 2, 3 reasons. One is definitely the annual increment. The second is we have added around 1,200 MRs in the last few quarters. So that also impacted the employee cost. And the CDMO business in Enzene became operational from November '25. So that was the third impact on manpower. In terms of other expenses, yes, there were expenses on account of Enzene CDMO business, plus the conversion rate for dollar has increased, which has also benefited us in terms of top line, but the impact is also on other expenses where all our subsidiaries, foreign subsidiaries expenses got converted at a higher rate. It's almost 10% higher than the last year rate. So these were the reasons. MedTech, yes, we have completed the acquisition of [Showing first 8,000 characters — download PDF for full document]