Kwality Pharmaceuticals Ltd · BSE:KPL
Kwality Pharmaceuticals — Q3 FY26 Earnings Presentation
28 slides from Kwality Pharmaceuticals's earnings presentation, Dec 31, 2025
Slide 1: Investor Presentation Q3 & 9M FY26
Kwality Pharmaceuticals Ltd INVESTOR PRESENTATION Q3 & 9M FY26
Slide 2: Disclaimer
DISCLAMER Some of the statements made in this presentation are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections of the directors and management of Kwality Pharmaceutical Limited about its business, the industry and mark
Slide 3: 4 Decades of Expertise and Manufacturing Excellence
4 Decades of Expertise and Manufacturing Excellence Future Growth to be driven Research + Manufacturing + Quality Excellence Expertise in Complex by High Margin critical Formulation Development care , Bio-similar and achieved & Manufacturing oncology molecules including peptides 01 Over 1700 employe
Slide 4: Revenue growth supported by manufacturing scale-up
Revenue growth supported by manufacturing scale-up Revenue (INR Cr.) CAGR : 35% CAGR : 22% 500 370 307 251 FY23 FY24 FY25 FY26E All values in INR Cr. Journey so far… 1983 2018 2020 2022 2023 2024 2025 2026 Company • Manufacturing • Migrated • Established • Established • Initiated • PICs GMP approval
Slide 5: Profit growing ~3x times faster than its revenue
Profit growing ~3x times faster than its revenue Revenue Scale Translating into Profit Acceleration Margins Holding Firm, Profits Expanding 19 10.8% 24 7.8% 7.6% 40 21.6% 21.7% 23.9% 50.1% 50.7% 56.2% 251 307 370 FY23 FY24 FY25 FY23 FY24 FY25 Revenue Profit After Tax (PAT) Gross Margin% EBITDA Margi
Slide 6: Leadership backed by Experience
Leadership backed by Experience Name Ramesh Arora Name Ajay Arora Name Aditya Arora Designation Chairman and Managing Director Designation Director Designation Director Years of experience 42 Years Years of experience 31 Years Years of experience 11 Years Purchase and Infrastructure Quality Assuranc
Slide 7: What sets us apart?
What sets us apart? 02 03 01 Diversified portfolio across Open and Flexible Business Model, Globally accredited, strong high entry barrier dosage Powered by in house R&D capabilities manufacturing capabilities forms for complex molecule development 04 05 Wide Presence Healthy Balance sheet providing
Slide 8: 1000+ products across key therapies - Broad Dosage form capabilities
1000+ products across key therapies - Broad Dosage form capabilities Revenue Types Therapies share % Generals, Beta Lactam, Oncology & Injectables 56% Cephalosporins, Biologics 400 Generals, Beta Lactam, Oncology & Tablets 27% Cephalosporins 50+ products being split Generals, Beta Lactam, Oncology &
Slide 9: Portfolio diversification across key dimensions ..contd
Portfolio diversification across key dimensions ..contd 30% of the portfolio operated in high Core growth from semi-regulated markets, with Built for scale, supported by pipeline depth complex molecules upside from regulated geographies 40% 400 70% 30% 30% 25% 100 50 5% 9MFY26 9MFY26 9MFY26 Commerci
Slide 10: Out-Licensing & Supply: Asset-Light Global Market Access
Out-Licensing & Supply : Asset - Light Global Market Access Revenue share Strategic Partnerships Filings 10% 200 175 140 75 90% 100+ clients across LatAm, MENA, Europe, Asia & Africa; FY23 FY24 FY25 FY26 expand via 700+ filings. Outlicensing and Supply CDMO Filings Tie to Moats Leverage achieved Re
Slide 11: CDMO: End-to-End Partnership Driving High-Value Growth
CDMO: End-to-End Partnership Driving High-Value Growth..contd Metric Kwality Stats Benefits Boosting talent, attaining expertise 80 scientists Proves innovation R&D Headcount 188 (DSIR-recognized) muscle Dedicated QA and QC QA & QC team teams function 140+; 188+ 145 strength independently across eac
Slide 12: Core Research Initiatives
Applied R&D + Development Engine supporting future CDMO partnerships Core Research Initiatives 01 Biosimilars Development Building end-to-end biologics development and analytical capabilities to support future biosimilar launches and biologics CDMO engagements. Hypothesis driven innovation 02 Enhanc
Slide 13: 4/5 units being EU-GMP approved
4/5 units being EU - GMP approved Unit 6 : Hormones is under construction, expected to commence by H2FY26 Successfully completed 20+ 01 regulatory, customer, and vendor Unit 1 : General Unit 3 : Oncology Unit 5: Biologics audits over the past two years. Proactively upgrades plant 02 practices by ben
Slide 14: Comprehensive Offerings with Advanced Manufacturing Capabilities
Comprehensive Offerings with Advanced Manufacturing Capabilities Amritsar Plant (Campus 1) Himachal plant (Campus 2) Unit 1 Unit 2 Unit 3 Unit 5 Unit 6 Unit 4 (Cephalosporins) (General) (Beta Lactam) (Oncology) (Biologics) (Hormones) Oral Solids - Tab/Capsule, Suppositories Oral Solids - Tab/Capsule
Slide 15: Differentiated Capabilities
Differentiated Capabilities Lyophilized Injectables Emulsion • Solubility via Freeze - drying Long - acting Technology • Improved Stability Injectables • Fast Absorption • Sustained Drug Release • Low Globule Size • Peptide-based Injections • Low Osmolaity • Polymeric Microspheres • In-situ Forming
Slide 16: Export led growth strategy
Export led growth strategy Asia Europe GCC/MENA Operating in 70+ RU/CIS Markets South and Africa Middle East Central America 16
Slide 17: Working Capital Normalising with Scale, Improving Capital Productivity
Working Capital Normalising with Scale, Improving Capital Productivity 297 22% 20% 19% 217 208 15% 11% 10% Cash conversion days FY23 FY24 FY25 FY23 FY24 FY25 ROCE ROE Massive Inventory discipline from 310 days to 167 days has helped improving capital productivity and offset the receivable stretch ar
Slide 18: Low leverage and strong coverage - significant headroom for capex
Low leverage and strong coverage - significant headroom for capex 1.67 0.44 8.00 0.86 0.88 1.78 0.43 1.77 6.48 1.65 0.72 4.68 0.38 1.60 1.70 Net Debt/Equity Interest coverage Current ratio Total asset/ equity Asset turnover FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 1
Slide 19: Scaling to next orbit: INR 650+ Cr FY27 revenue milestone
Scaling to next orbit : INR 650+ Cr FY27 revenue milestone Action plan for the next two years Expanding to high margin Unlocking Regulated Market Revenue Target : INR 650 Cr. specialty platforms Upside Through EU-GMP EBITDA : ~INR 160 Cr. Readiness EBITDA Margin 650 : 25% 4 of 5 manufacturing plants
Slide 20: Global Accrediations
Global Accrediations and many more... 20
Slide 21: Q3 & 9MFY26 Financial Performance
Q3 & 9MFY26 Financial Performance Confidential & For Limited Circulation Only
Slide 22: Solid execution reflected in Q3 FY26 and 9M FY26 performance
Solid execution reflected in Q3 FY26 and 9M FY26 performance. Revenue EBITDA and Margins (%) PAT and Margins (%) 30 16 123 18 9 84 22.8% 24.3% 10.1% 13% Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Revenue EBITDA and Margins (%) PAT and Margins (%) 346 80 42 255 55 25 21.4% 23.0% 9.9% 12.2% 9MFY25 9MFY
Slide 23: Profit and Loss Statement – Q3 & 9MFY26
Profit and Loss Statement – Q3 & 9MFY26 Particulars Q3FY26 Q2FY26 QoQ Q3FY25 YoY 9MFY26 9MFY25 YoY Revenue from operations (Net) 123.4 111.1 11.2% 84.4 46.2% 346.0 254.5 35.9% (a) Cost of materials consumed 57.1 54.0 36.8 161.1 113.1 (b) Purchases of stock-in-trade 2.3 1.0 1.9 11.3 9.4 (c) Changes i
Slide 24: Performance drivers for Q3 & 9MFY26
Performance drivers for Q3 &9MFY26 Expansion in Regulated Markets Initiated supplies to highly regulated markets including Mexico and South Africa Secured new product registrations during the quarter and commenced commercialization of approvals received in previous quarters Regulatory & Compliance M
Slide 25: Historical Statement of Profit & Loss
Historical Statement of Profit & Loss Particulars Mar-23 Mar-24 Mar-25 Revenue from operations (Net) 251 307 370 (a) Cost of materials consumed 113 154 165 (b) Purchases of stock-in-trade 0 1 16 (c) Changes in inventories of finished goods work - in - progress and stock - in - trade -3 -1 1 COGS 110
Slide 26: Balance Sheet
Balance Sheet Particulars (In INR Cr.) Mar-23 Mar-24 Mar-25 Particulars (In crs) Mar-23 Mar-24 Mar-25 ASSETS 354 394 447 EQUITY & LIABILITIES 354 394 447 Equity Non-current assets 146 152 163 Share Capital 199 223 262 Other Equity 10 10 10 Property Plant & Equipment 120 139 144 Equity attributable t
Slide 27: Cash Flow Statement
Cash Flow Statement Particulars FY25 FY24 FY23 Cashflow from Operating Activities 52.72 42.98 41.38 Cashflow from Investing Activities (28.52) (26.39) (48.44) Cashflow from Financing Activities (14.44) (17.39) 0.99 Cash and Cash Equivalents as at end of period/Year 12.02 2.26 3.07 27
Slide 28: Thank You
THANK YOU Kwality Pharmaceuticals Ltd. Head Office Address : 6th Milestone, Majitha Road, Amritsar-143601, Punjab, India Ujjval Seth Ujjvalseth@kwalitypharma.com Investor Relations Contact: Go India Advisors Soumya Chhajed soumya@goindiaadvisors.com
Kwality Pharmaceuticals — Q3 FY26 Earnings Presentation on 6ix