Shareholders meeting

August 29, 2026 To, To, Listing/ Compliance Department Listing/ Compliance Department BSE LTD. National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Plot No. C/1, Dalal Street, G Block, Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai – 400 051 SCRIP CODE: 543748 SYMBOL: AARTIPHARM Dear Sir/Madam, Sub: Notice of the 7th Annual General Meeting (“AGM”) and the Annual Report for the Financial Year 2025-26 Ref: Regulation 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Please find enclosed herewith the Annual Report of the Company for the Financial Year 2025-26, along with the Notice of the 7th Annual General Meeting (AGM) of the Company scheduled to be held on Tuesday, September 22, 2026 at 11:00 a.m. (IST) through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The AGM will be held without the physical presence of the shareholders at a common venue. Further, in accordance with the MCA Circulars and SEBI Circulars, the Notice of the AGM along with the Annual Report is being sent only through electronic mode to those shareholders whose email addresses are registered with the Company/Depository Participants. Further, the Company has also initiated sending letters containing the web link of the Annual Report for FY 2025-26 to the shareholders whose e-mail addresses are not registered. The Notice of 7th AGM of the Company along with Annual Report for the Financial Year 2025-26 is available on the website of the Company at web link: https://www.aartipharmalabs.com/annual-reports Please take the same on your records. Thanking you, Yours faithfully, For AARTI PHARMALABS LIMITED Jeevan Mondkar COMPANY SECRETARY AND LEGAL HEAD ICSI M. NO. A22565 Encl.: a/a Annual Report 2025-26 Geared for Scale. Poised to Deliver. Across the Pages 02-09 60-154 Corporate Overview Statutory Reports Our Foundation for Growth 02-03 Management Discussion and Analysis 60-67 About Aarti Pharmalabs 04-07 Directors' Report 68-93 Our Journey 08-09 Corporate Governance Report 94-119 Business Responsibility & 120-154 Business Overview 10-21 Sustainability Report Manufacturing and R&D Infrastructure 10-15 155-314 Business Segment Review 16-19 Operating Environment 20-21 Financial Statements Leadership Messages 22-29 Standalone Financial Statement 155-233 Chairman’s Message 22-25 Consolidated Financial Statement 234-314 Managing Directors' Message 26-29 315-331 Business Performance 30-33 Notice Performance Highlights 30-31 Investing for Future Growth 32-33 Sustainability 34-55 Integrated Approach to ESG 34-35 Environment 36-37 Social: Employees 38-39 Disclaimer Social: Suppliers 40-41 This document contains statements about expected future events and financials of Aarti Pharmalabs Limited (‘The Company’), which Social: Communities 42-53 are ‘forward-looking’. By their nature, forward-looking statements Governance 54-55 require the Company to make assumptions and are subject to inherent risks and uncertainties. There is a significant risk that the assumptions, predictions, and other forward-looking statements may Chairman Emeritus 56 not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as several factors could cause Board of Directors 57 assumptions, actual future results and events to differ materially from those expressed in the forward-looking statements. Accordingly, this Awards 58 document is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications and risk factors referred to in the Corporate Information 59 Management Discussion and Analysis section of this Annual Report. Geared for Scale. Poised to Deliver. Over the past few years, we have steadily invested in the building blocks of our next phase of growth: manufacturing capacity, scientific capabilities, technology, infrastructure and talent. These investments continue, but are now coming together to create a broader and more capable pharmaceutical platform, strengthening our established businesses while creating greater headroom for growth, particularly in CDMO. Our expanded manufacturing infrastructure, the Atali platform, additional Xanthine capacity and continued investments in R&D and advanced chemistries are increasing the scale, flexibility and depth of our business. We are progressively strengthening this platform to support larger, more complex and higher-value opportunities across the pharmaceutical value chain. As these capabilities move from investment to utilisation, they create a stronger foundation for converting opportunity into sustained growth. Our deepening CDMO pipeline, continued project progression and long-term customer relationships provide the pathway to scale responsibly, strengthen our existing businesses and translate our expanded platform into enduring performance. Annual Report 2025-26 OUR FOUNDATION FOR GROWTH The Science behind Sustainable Leadership For more than 25 years, we have focused on the chemistry that is hard to do and harder to replicate. We chose complexity over convenience, building capabilities that few can match and that customers continue to rely on. Today, we stand as a leader in Xanthine derivatives, built on expertise that is difficult to replicate and partnerships that are built to last. Excellence, for us, has meant depth before size and Our lead in Xanthine rests on more than scale. As a fully consistency before scale. More than 25 years in, backward-integrated producer with no dependence that is not a destination we have arrived at, but the on China, we offer customers true supply security. Any foundation we are now building on. The work now new entrant faces years of customer validation and continues as we bring new capacity on stream, raise regulatory approval before a first commercial supply. utilisation, and scale our CDMO partnerships. That gap is an advantage that compounds with every year we operate. Corporate Overview 6,000 MTPA Currently manufacturing and approaching to 9,000 MTPA Momentum 32 Crores to 276 Crores CDMO revenue growth, FY 2021-22 to FY 2025-26 ~ 400 Crores 15-18% Invested in FY 2025-26 to build the next phase of capacity Targeted revenue and EBITDA CAGR over the next 3 to 4 years CORPORATE OVERVIEW Annual Report 2025-26 ABOUT AARTI PHARMALABS About Aarti Pharmalabs Aarti Pharmalabs Limited (‘APL’, or ‘The Company’), part of the Aarti Group, is a globally recognised pharmaceutical firm. We specialise in generic APIs, pharmaceutical intermediates, Xanthine derivatives, and CDMO services. Drawing on more than 25 years of pharmaceutical excellence, we combine advanced process chemistry, scale-up engineering, and integrated manufacturing capabilities to deliver innovative, high-quality and regulatory-compliant solutions worldwide. Care Our devotion to caregiving spans all of our stakeholders, including our team members, clients, suppliers, local community, and Vision the environment. Excellence To emerge as a ‘global partner of choice’ for leading We endeavour to consumers of Pharmaceutical gratify our clients and Nutraceutical products. and stakeholders. Integrity Values We consistently uphold the greatest moral and ethical principles. Mission Sustainable delivery and business operations for our Philosophy products and services. Safety first, quality always. Corporate Overview Our Businesses Xanthine Derivatives and Allied Products As India’s largest manufacturer of Xanthine derivatives, we serve the pharmaceutical, 15-20% 2 nutraceutical, and beverage industries. Our diversified portfolio spans high-purity products Global Market Share Dedicated built for demanding applications. Backward Manufacturing Plants integration, scale, and a focus on quality have made us a trusted global supplier. This 9,000 MTPA positions us well to capitalise on evolving Proposed Capacity Post-Expansion supply chain opportunities worldwide. API and Intermediates We develop and manufac [Showing first 8,000 characters — download PDF for full document]