Annual report for Financial Year 2025-26

August 27, 2026 The Department of Corporate Services- Listing The Department of Corporate Services- Listing BSE Ltd, National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street Bandra Kurla Complex, Mumbai-400 001 Bandra (E) Mumbai – 400 051 Scrip Code: 507789 Symbol: JAGSNPHARM Subject: Notice of the 47th Annual General Meeting and Annual Report for the FY 2025-26. Dear Sir/ Madam, Pursuant to the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (the 'Listing Regulations'), we wish to inform you the following: 1. The 47th Annual General Meeting ('AGM') of the Members of Jagsonpal Pharmaceuticals Limited will be held on Friday, September 18, 2026 at 03:30 P.M. through Video Conferencing ('VC)/ Other Audio Visual Means ('OAVM') in accordance with Circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India, from time to time. 2. Pursuant to the said Circulars, AGM Notice and Annual Report for the Financial Year 2025-26 is being sent to all the members of the Company whose email addresses are registered with the Company/Depository Participant(s). 3. The Company has provided the facility to vote by electronic means (remote e-voting as well as e-voting at the AGM) on all the resolutions set out in the AGM Notice to the members, who are holding shares as on Cut-off date i.e. Friday, September 11, 2026. The remote e-voting will commence at 9:00 A.M. (IST) on Monday, September 14, 2026 and end at 5:00 P.M. (IST) on Thursday, September 17, 2026. Detailed instructions for registering email addresses(s) and voting/attendance at the AGM are given in the AGM Notice. 4. We also enclose the Annual Report of the Company for the Financial Year 2025-26 including Notice convening the 47th AGM of the Company for your record. 5. Record date for ascertaining the members of the Company for the purpose of payment of Dividend has been fixed for September 04, 2026. We request you to take the above on record. Thanking you, For Jagsonpal Pharmaceuticals Limited Pratham Rawal Company Secretary & Compliance Officer Encl.: A/a Contents Corporate Statutory 01 02 Notice Overview Reports 02 About Us 32 M anagement Discussion 157 Notice of 47th Annual 06 Growth Pillars and Analysis General Meeting 08 Chairman’s Message 41 Board’s Report 10 Managing Director’s Insight 58 Corporate Governance Report 12 M essage from the Chief 73 Business Responsibility and Operating Officer Sustainability Report 13 M essage from the Chief Financial Officer 14 Strategic Acquisition Financial 16 Portfolio Statements 21 Presence 22 Value Creation 101 Independent Auditor’s Report 24 Key Performance Indicators 110 Balance Sheet 26 People 111 Statement of Profit and Loss 28 Corporate 112 Statement of Changes in Equity Social Responsibility 113 Statement of Cash Flow 30 Board of Directors 115 Notes to Financial Statements 31 Corporate Information Strengthening Financial Performance in FY26 2,872 609 mn mn Value Creation Story Judicious capital deployment, Revenue Operating EBITDA* supported by robust cash 6.9% 5.2% generation and an asset-light operating model, defines our value creation approach. ` 446 ` 614 Read more on page 22 mn mn To know more, please visit our website: Operating PAT* Free Cash Flow (FCF) www.jagsonpal.com 19% 3.5% YOY Growth * EBITDA and EBITDA margin is calculated Pre-ESOP; PAT & PAT Margin is calculated before exceptional items ACCELERATION I N P L AY At Jagsonpal Pharmaceuticals Limited, we are continuously reimagining our organisation to strengthen long-term competitiveness. Consistently evolving with the priorities of the Indian pharmaceutical landscape, we have undertaken a focused transformation over the past three financial years, encompassing key dimensions of the business. By strengthening leadership depth, refining our portfolio, share and declared a 200% dividend, including a special realigning operating structures and embedding a sharper dividend of 75%. Collectively, these initiatives represent execution discipline, we shaped a more agile, scalable a shareholder distribution of over ₹650 million, including platform. This transition amplified our responsiveness the proposed dividend, reflecting our continued focus to market opportunities and improved the quality of on delivering sustainable shareholder value while growth through a sharper therapeutic focus and stronger maintaining the financial flexibility to pursue future productivity metrics. growth opportunities. The impact of our transformation is paving the way for a We continue to drive inorganic growth through strategic more decisive phase of performance acceleration, where acquisitions that expand our specialty healthcare structural strengthening is translating into sustained footprint, strengthen our therapeutic portfolio and business outcomes. Consequently, a phase of sustained deepen our market presence. Over the past three years, acceleration is now in play. the acquisitions of Yash Pharma’s India and Bhutan business and Aequitas have broadened our capabilities, The momentum was evident in our performance expanded our addressable markets and strengthened our during March 2026, when we delivered 22.2% growth, platform for future growth. significantly outperforming the 10.1% IPM growth and more than doubling the pace of market expansion. With a stronger foundation now firmly established, For FY26, we delivered 7% revenue growth, 5% we are well-positioned to extract greater operating Covered Market (CVM) growth and 19% operating PAT leverage and sustain growth momentum across key growth, supported by disciplined cost management performance indicators. and consistent execution. We concluded the year Looking ahead, we remain committed to bolstering with a robust cash position of ₹1,907 million, further organic growth through improved Medical strengthening our balance sheet and enhancing our Representative (MR) productivity, deeper brand building financial flexibility. and a focused pipeline of differentiated launches. We This performance further reaffirmed our disciplined will continue to evaluate inorganic opportunities that capital allocation approach. During FY26, the Company are value-accretive and strategically aligned with our completed a ₹400 million share buyback at ₹250 per growth philosophy. Jagsonpal Pharmaceuticals Limited | Annual Report 2025-26 About Us Cementing Prominence through Differentiated Approach With over six decades of experience, Jagsonpal has built a resilient platform for long-term growth. Our strength lies in strong brand equity, a differentiated operating model and well-curated therapeutic portfolio. Supported by enduring partnerships and disciplined execution, we deliver performance that stands out in the Indian pharmaceutical landscape. Corporate Overview | Statutory Reports | Financial Statements Enduring Equity Strong Brand Portfolio Therapy Focus with Doctors A significant 58% of our revenue is We offer a well-curated portfolio contributed by our top 10 brands, across semi-chronic therapeutic Over the years, we have cultivated reflecting the strength of a focused areas. Spanning branded generics, strong credibility within the medical and well-designed portfolio. Built on trade generics and OTC segments, fraternity through consistent specialised therapies and consistent our portfolio is strategically engagement, scientific collaboration product quality, these brands positioned in niche, high-value and reliable product performance. are widely trusted by healthcare therapies. This sharp focus supports This long-standing trust has led to professionals. Our established brand sustained revenue visibility while strong brand equity, driving higher franchise and leading positions across creating a differentiated positioning prescription advocacy across our key therapeutic segments continue in a competitive market. focus therapies. Our well-established to drive p [Showing first 8,000 characters — download PDF for full document]