Transcript of Analysts/Investors earning call held with public at large on August 21, 2026.

OrchidPharm~~ -- A Dhanuka Group Company ---------------------------------- August 24, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (E), Mumbai-400051 Dalal Street, Fort, Mumbai-400001 Symbol: ORCHPHARMA Scrip Code: 524372 Ref: (i) Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. 2015 (ii) SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD- POD2/1/3762/2026 dated January 30. 2026 Sub: Transcript of Analystsl Investors Earning Call held with Public at large on August 21, 2026- Orchid Pharma Limited ("the Company") Dear Sir/Madam, This is in continuation to our earlier intimation and submission dated August 17, 20 & 21, 2026. In reference to the captioned subject and pursuant to Regulation 30 and Sub- Para 15 of Para A, Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, please find enclosed herewith transcript of Analysts/ Investors Earning Call held with Public at large on Friday, August 21, 2026 on the financial performance/ financial results of the Company for the Quarter-I of Financial Year 2026-27, ended on June 30, 2026 and the same be read in conjunction with the Audio Recording submitted via our letter dated August 21, 2026. Further, pursuant to Regulation 46 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the aforesaid transcript is being made available on the Company's website at https:/Iwww.orchidpharma.com/investors You are requested to take the above on your record. Thanking You, For Orchid Pharma Limited Kapil Dayya Company Secretary & Compliance Officer Mem. No.: F10698 Encl.: as above +91-44-27444471/72/73 corporate@orchidpharma.com orchidpharma.com CIN: L24222TN1992PLC022994 Registered Office: Corporate Office: Orchid Pharma Limited 15th Floor, Tower 1. DLF Corporate Greens, Sector 74A, Plot Nos. 121-128, 128A-133, 138-151, 159-164, SIDCO Industrial Estate, Gurugram - 122004, Haryana, India Alathur, Chengalpattu Dist - 603110, Tamil Nadu, India. “Orchid Pharma Limited Q1 & FY27 Earnings Conference Call” August 21, 2026 MANAGEMENT: MR. MANISH DHANUKA – MANAGING DIRECTOR – ORCHID PHARMA LIMITED MR. MRIDUL DHANUKA – WHOLE-TIME DIRECTOR – ORCHID PHARMA LIMITED MR. NISHANT DALAL – VICE PRESIDENT, FINANCE – ORCHID PHARMA LIMITED MR. KAPIL DAYYA – COMPANY SECRETARY – ORCHID PHARMA LIMITED MODERATOR: MS. LOVELEEN BAGGA – SYSTEMATIX SHARES AND STOCKS Page 1 of 17 Orchid Pharma Limited August 21, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Orchid Pharma Limited Q1 & FY27 Earnings Conference Call, hosted by Systematix Shares and Stocks. 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 the conference call, please signal an operator by pressing star, then zero on your touch-tone phone. This conference call may contain forward-looking statements about the company which are based on beliefs, opinions, and expectations of the company as on date of this call. These statements are not guarantee of future performance and involve risks and uncertainties that are difficult to predict. I now hand the conference over to Ms. Loveleen Bagga from Systematix Shares and Stocks. Thank you, and over to you, Ms. Loveleen. Loveleen Bagga: Thank you, Danish. Good evening, everyone. On behalf of Systematix Institutional Equities, I welcome you all to the Q1 FY27 earnings call of Orchid Pharma. We thank the Orchid Pharma management for giving us an opportunity to host the call. Today we have with us the senior management of the company represented by Mr. Manish Dhanuka, Managing Director; Mr. Mridul Dhanuka, Whole-Time Director; Mr. Nishant Dalal, VP, Finance; and Mr. Kapil Dayya, Company Secretary. I will now hand over the call to the company management. Over to you, sir. Manish Dhanuka: Thank you. Good evening, ladies and gentlemen. I am Manish Dhanuka, Managing Director of Orchid Pharma, and I welcome you to our discussion on the results for the first quarter of financial year '27. As you may be aware, on 10th of July, the merger with Dhanuka Laboratories became effective with an appointed date of 1st April 2024. Accordingly, the FY25 comparative and FY26 results have been restated to reflect the combined operations of Orchid Pharma and Dhanuka Laboratories. The financial numbers that we will discuss today are, therefore, on a combined and comparable basis. They will differ from the Orchid-only numbers discussed in earlier calls. As we had indicated in our last call, financial year '26 was a difficult year for cephalosporin business. It was among the most challenging environments our cephalosporin franchise has faced in the last 15 to 20 years. In a number of important products and markets, both volumes and pricing were affected, with declines of 15% to 20% depending on the product. On a restated, combined basis, revenue from operations was INR1,233 crores for financial year '26 compared with INR1,398 crores for the financial year '25. After the first quarter, our focus was on protecting volumes and customer relationships in the challenging market. This involved accepting some pressure on margins, particularly because of product mix and pricing conditions. Consequently, combined gross margin moderated by approximately 4% to 32% in financial year '26 compared to approximately 36% in financial year '25. We remain disciplined on controllable Page 2 of 17 Orchid Pharma Limited August 21, 2026 costs. Combined employee and other operating expenses were broadly flat at INR353 crores in FY26 compared with approximately INR353 crores in FY25. However, this cost discipline could only partially offset the effect of lower revenue and gross margin compression. Turning to the current quarter, we have begun financial year '27 on a better footing. Revenue from operations increased to INR304 crores in Q1 '27 from INR263 crores in corresponding quarter last year, representing growth of approximately 15%. Combined gross margin improved by approximately 3% points to 33% in Q1 '27 compared with approximately 30% in Q1 of '26. EBITDA improved to INR25 crores in Q1 of '27 compared with EBITDA of INR10 crores in Q1 of '26. Though we can see some improvement in sales over last year, we feel the industry is still facing overcapacities leading to cutthroat competition. Our focus remains on growing volumes with discipline, improving product mix, maintaining tight control over operating costs, and progressively strengthening the underlying profitability of the combined platform. We have also started a number of focused integration projects to crystallize savings from this merger. We expect initial benefits of these initiatives to begin becoming visible in the next financial year. The AMS business continues to be managed with financial discipline. Its quarterly EBITDA drag has reduced significantly, while we continue to build the platform and its long-term strategic relevance in Antimicrobial Stewardship. I will now move to the operational and strategic updates on other businesses and projects. Let me begin with Exblifep. We continue to make measured progress in building Exblifep as a global commercial platform. In Russia, the estimated 10-year value of our licensing arrangement is approximately USD178 million. This is an estimated long-term value and not current period revenue. Execution will depend on registration, launch, and market development over time. In Europe, the business is growing at a steady manner whilst volumes grew by approximately 300% in Q3 of '26, 170% in Q4 of '26, and about 50% in Q1 of '27. So, ther [Showing first 8,000 characters — download PDF for full document]