Aarti Pharmalabs Limited · NSE:AARTIPHARM
Aarti Pharmalabs — Q4 FY26 Earnings Presentation
30 slides from Aarti Pharmalabs's earnings presentation, May 26, 2026
Slide 1: Results Presentation filing letter to stock exchanges
May 26, 2026 To, To, Listing/ Compliance Department Listing/ Compliance Department BSE LTD. National Stock Exchange of Phiroze Jeejeebhoy Towers, India Limited Dalal Street, “Exchange Plaza”, Plot No. C/1, Mumbai - 400 001 G Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 SCRIP CODE: 54374
Slide 2: Investor Presentation May 2026
INVESTOR PRESENTATION May 2026
Slide 3: Snapshot
SNAPSHOT 25+ Years of Pharmaceutical Excellence 220+ Products 500+ Global Clients State-of-the-art 3 R&D facilities 63 Patents Filed 50+ Export Countries Manufacturing 7 Units 60 US DMF 2,400+ Employees 3 USFDA Units 44 CEP Global 15-20% Market Share 0.32x Net Debt/Equity AA- Credit rating in Xanthi
Slide 4: Company Overview
1 COMPANY OVERVIEW 2 BUSINESS OVERVIEW 3 STRATEGIC OVERVIEW 4 FINANCIAL OVERVIEW Aarti Pharmalabs Limited
Slide 5: Company Overview
COMPANY OVERVIEW STANDALONE REVENUE (INR Mn) • Aarti Pharmalabs Limited (APL) is part of the Aarti group – a diversified chemical conglomerate with & EBITDA MARGINS (%) group turnover of INR 150+ bn (FY26) 17,714 17,976 • Globally recognized manufacturer of generic API, Xanthine derivatives and a le
Slide 6: Key Milestones
KEY MILESTONES • 2024 Started 21 MW solar power project at Akola, Maharashtra • Expansion of semi-commercial production block at Vapi 2022 • Expanded block for CSD in Vapi and API in Tarapur units • Acquired land at Atali for future growth 12 • Successfully demerged the pharmaceutical business of Aa
Slide 7: Geographical Presence
GEOGRAPHICAL PRESENCE Atali Vapi - Unit II Tarapur - Unit III, IV, V, VI Dombivli - Unit I Gujarat Mumbai Maharashtra LOCATION MANUFACTURING UNITS CERTIFICATIONS & AUDIT DATE Dombivali Unit - I (API, Intermediates, CDMO) USFDA - Jun 2022 Unit - II (API, Intermediates, CDMO) Vapi USFDA - Sep 2009, Au
Slide 8: Manufacturing Capabilities
MANUFACTURING CAPABILITIES END TO END CAPABILITIES UNDER ONE UMBRELLA Hydrogenation facilities from lab-scale to 25 years of experience in pharmaceuticals manufacturing scale (0.1-10 KL reactors) manufacturing for global clients Impeccable regulatory track record and facilities Cryogenic reactors op
Slide 9: Research & Development
RESEARCH & DEVELOPMENT 3 40+70+ 3 State of the art Products developed and R&D Centers at manufactured on kilo-lab Maharashtra & Gujarat scale in FY25 25+ 7.4%70+ 3 21 3 New products R&D Spend (as a PhDs launched at plant scale percent of API+Int & in FY25 CDMO sales) in FY26 122 3 65 Cr70+ 3 61 70+
Slide 10: Business Overview
1 COMPANY OVERVIEW 2 BUSINESS OVERVIEW 3 STRATEGIC OVERVIEW 4 FINANCIAL OVERVIEW Aarti Pharmalabs Limited
Slide 11: Xanthine Derivatives & Allied Products
XANTHINE DERIVATIVES & ALLIED PRODUCTS • Largest Indian manufacturer of Xanthine Derivatives, including Caffeine (largest capacity in India), SALES QUANTITY SPLIT (FY26) Theophylline Anhydrous, Aminophylline, Etophylline, and Theophylline • Non-Chinese dependent and fully backward integrated manufac
Slide 12: API & Intermediates
API & INTERMEDIATES • Specialized player in the development and manufacturing of HPAPIs, catering to the demand for critical drugs used in oncology, corticosteroids, and cytotoxic medicines. MARKET SEGMENTATION (FY26) • Backward integrated for most APIs, with control over entire production value cha
Slide 13: CDMO & CMO
CDMO & CMO • Amongst leading small molecule CDMO/CMO players in India, working with big pharma, innovators CDMO Sales (INR Cr) and biotech companies. • Offering end to end services including process development and manufacturing of KSMs, RSMs, Intermediates & GMP APIs for small molecule NCEs, from e
Slide 14: Segmental Share & Quarterly Highlights
SEGMENTAL SHARE & QUARTERLY HIGHLIGHTS BUSINESS-WISE REVENUE BREAK-UP OPERATIONAL HIGHLIGHTS Q4-FY26 • Xanthine expansion project commissioning is expected by Jun’26. Currently operating at 34.3% 6000MTPA. 43.5% 42.6% 47.5% • Ongoing geopolitical tensions have resulted into input & logistics price h
Slide 15: Strategic Overview
1 COMPANY OVERVIEW 2 BUSINESS OVERVIEW 3 STRATEGIC OVERVIEW 4 FINANCIAL OVERVIEW Aarti Pharmalabs Limited
Slide 16: Capex Update
CAPEX UPDATE Greenfield Capex – Atali Project (Gujarat) Brownfield Capex – Tarapur (Maharashtra) Estimated Investment INR 400 crores Estimated Investment INR 210 crores Capacity ~450 KL (Phase 1) Proposed Capacity 9,000 MTPA Land Acquired 80 acres Current Utilization 6,000 MTPA ~80% capacity operati
Slide 17: Future Outlook
FUTURE OUTLOOK FY26 CAPEX reached ~INR 400 cr; FY27 outlook expected at similar levels Targeting 15-18% Initiating R&D investment in FY27 towards TIDES (Peptides Revenue & EBITDA CAGR & Oligonucleotides) to expand portfolio capabilities. Over the Next 3-4 Years Evaluating a dedicated block for speci
Slide 18: Financial Overview
1 COMPANY OVERVIEW 2 BUSINESS OVERVIEW 3 STRATEGIC OVERVIEW 4 FINANCIAL OVERVIEW Aarti Pharmalabs Limited
Slide 19: Quarterly Standalone Income Statement
QUARTERLY STANDALONE INCOME STATEMENT PARTICULARS (INR Mn) Q4-FY26 Q3-FY26 Q-o-Q Q4-FY25 Y-O-Y Operational Revenue 5,797 4,253 36.3% 5,296 9.5% Operating Expenses 4,456 3,224 38.2% 3,643 22.3% EBITDA 1,341 1,029 30.3% 1,653 (18.9)% EBITDA Margin (%) 23.13% 24.19% (106) Bps 31.21% (808) Bps Depreciat
Slide 20: Annual Standalone Income Statement
ANNUAL STANDALONE INCOME STATEMENT PARTICULARS (INR Mn) FY26 FY25 Y-O-Y Operational Revenue 17,976 17,714 1.5% Operating Expenses 13,915 13,449 3.5% EBITDA 4,061 4,265 (4.8)% EBITDA Margin (%) 22.59% 24.08% (149) Bps Depreciation and Amortisation 1,043 791 31.9% Finance costs 469 256 83.2% Foreign E
Slide 21: Annual Standalone Income Statement
ANNUAL STANDALONE INCOME STATEMENT PARTICULARS (INR Mn) FY26 FY25 FY24 FY23 Operational Revenue 17,976 17,714 15,021 15,112 Operating Expenses 13,915 13,449 11,560 12,028 EBITDA 4,061 4,265 3,461 3,084 EBITDA Margin (%) 22.59% 24.08% 23.04% 20.41% Depreciation and Amortisation 1,043 791 660 558 Fina
Slide 22: Quarterly Consolidated Income Statement
QUARTERLY CONSOLIDATED INCOME STATEMENT PARTICULARS (INR Mn) Q4-FY26* Q3-FY26* Q-o-Q Q4-FY25 Y-O-Y Operational Revenue 5,826 4,323 34.8% 5,638 3.3% Operating Expenses 4,525 3,300 37.1% 4,182 8.2% EBITDA 1,301 1,023 27.2% 1,456 (10.6)% EBITDA Margin (%) 22.33% 23.66% (133) Bps 25.82% (349) Bps Deprec
Slide 23: Annual Consolidated Income Statement
ANNUAL CONSOLIDATED INCOME STATEMENT PARTICULARS (INR Mn) FY26* FY25 Y-O-Y Operational Revenue 18,194 21,151 (14.0)% Operating Expenses 14,170 16,507 (14.2)% EBITDA 4,024 4,644 (13.4)% EBITDA Margin (%) 22.12% 21.96% 16 Bps Depreciation and Amortisation 1,043 869 20.0% Finance costs 469 269 74.3% Fo
Slide 24: Annual Consolidated Income Statement
ANNUAL CONSOLIDATED INCOME STATEMENT PARTICULARS (INR Mn) FY26* FY25 FY24 FY23 Operational Revenue 18,194 21,151 18,526 19,542 Operating Expenses 14,170 16,507 14,666 16,031 EBITDA 4,024 4,644 3,860 3,421 EBITDA Margin (%) 22.12% 21.96% 20.84% 17.59% Depreciation and Amortisation 1,043 869 732 625 F
Slide 25: Historical Standalone Balance Sheet
HISTORICAL STANDALONE BALANCE SHEET ASSETS (INR Mn) FY24 FY25 FY26 EQUITY & LIABILITIES (INR Mn) FY24 FY25 FY26 Assets Equity & Liabilities Non-current assets Equity share capital 453 453 453 Property, plant and equipment 9,160 10,135 13,359 Other equity 15,762 17,986 19,370 Capital work-in-progress
Slide 26: Historical Consolidated Balance Sheet
HISTORICAL CONSOLIDATED BALANCE SHEET ASSETS (INR Mn) FY24 FY25 FY26 EQUITY & LIABILITIES (INR Mn) FY24 FY25 FY26 Non-current assets Equity share capital 453 453 453 Property, plant and equipment 9,942 10,887 13,359 Other equity 17,117 19,446 20,793 Capital work-in-progress 785 3,066 3,052 Total Equ
Slide 27: Consolidated Financial Highlights
CONSOLIDATED FINANCIAL HIGHLIGHTS OPERATIONAL INCOME (INR Mn) EBITDA (INR Mn) & EBITDA MARGINS PAT (INR Mn) & PAT MARGINS (%) (%) 21,151 19,452 4,644 18,526 18,194 2,724 3,860 4,024 3,421 2,169 1,935 1,747 21.96% 22.12% 20.84% 17.59% 11.71% 12.88% 9.95% 9.60% FY23 FY24 FY25 FY26* FY23 FY24 FY25 FY26
Slide 28: Capital Market Information
CAPITAL MARKET INFORMATION SHARE PRICE UP TO 31st March, 2026 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Aarti Sensex PRICE DATA (AS ON 31st March 2026) INR SHAREHOLDING PATTERN (AS ON 31st March, 2026) DII, 7
Slide 29: Disclaimer
DISCLAIMER Aarti Pharmalabs Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all event
Slide 30: Thank You
THANK YOU AARTI PHARMALABS LIMITED