Sudeep Pharma Limited · NSE:SUDEEPPHRM
Sudeep Pharma — Q2 FY26 Earnings Presentation
40 slides from Sudeep Pharma's earnings presentation, Dec 21, 2025
Slide 1: Exchange filing cover letter for Q2FY26 result presentation
Date: 21st December 2025 To, National Stock Exchange of India Limited BSE Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Bandra Kurla Dalal Street, Mumbai – 400001 Complex, Bandra (E), Mumbai – 400051 Scrip Code: 544619 Scrip Symbol- SUDEEPPHRM Sub: Q2FY26 - Result Presentation Ref:
Slide 2: Sudeep Pharma Limited Investor Presentation December 2025
Sudeep Pharma Limited Investor Presentation December 2025
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sudeep Pharma Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securit
Slide 4: Successful IPO Listing on BSE and NSE
Successful IPO Listing on BSE and NSE on 28 November 2025 Listing of ‘Sudeep Pharma Limited’ on BSE and NSE 3
Slide 5: Company Overview
p Pharma Limited s Sudee Company Overview
Slide 6: Sudeep Pharma at a Glance
Sudeep Pharma at a Glance Years of Expertise in vitamins & Founded in 1989, 3+ decades of experience in 35 mineral chemistries* 5 Manufacturing Sites ^ Specialty Chemistries Metric Tones (“MT”) Leading player in the Excipients & Fortune 500 Companies1 14 as customers ~1,23,000 + Annual Manufacturing
Slide 7: Our Journey from Pharma Excipients to Specialty Ingredients Manufacturer
Our Journey from Pharma Excipients to Specialty Ingredients Manufacturer 2025 2024 2021–2023 2015–2022 Strategic 1989 Acquisitions & IPO Diversification & Readiness Ownership Innovation and Consolidation Global Partnerships Portfolio Expansion Foundation & & Market Entry Early Operations 2024 2025 2
Slide 8: Corporate Structure
Corporate Structure Sudeep Pharma Limited (Holding) Sudeep Nutrition Private Ltd. Sudeep Pharma USA Inc. Sudeep Pharma B.V. Sudeep Advanced Materials (Wholly Owned Subsidiary) (Wholly Owned Subsidiary) (Wholly Owned Subsidiary) (Wholly Owned Subsidiary) 85% Ownership 7
Slide 9: One of the World's Leading and Trusted Manufacturer
One of the World’s Leading and Trusted Manufacturer The Start As on 2020 2021 2023 2024 2025 30-Sept-2025 Ireland Manufacturing 5 Site¹ Manufacturing Sites^ Europe Sales Office – The HQ - Vadodara, Netherlands² Gujarat³ 100+ Products 4 Manufacturing USA Sales Office - New Sites, India ⁴ Jersey² Mumb
Slide 10: Strengths - Core Competencies and USP's
Strengths - Core Competencies and USP’s Innovation Engineered Through Proprietary Technologies Leadership in High Barrier Industry, Diversified Product Portfolio 6 indigenously developed technologies 100+ Products across different verticals Encapsulation Spray Drying Granulation Liposomal Blending T
Slide 11: Key Value Propositions
Key Value Propositions 1. Market Leadership with 6. Distinguished global customer Diversified Product Portfolio base with long standing relationships with Key Customers 2. High Entry Barriers 7. Proven Credentials and Leading Accolades Key Value 3. Well-Equipped & Regulatory Compliant Manufacturing
Slide 12: 1. Market Leadership with Diversified Product Portfolio
1. Market Leadership with Diversified Product Portfolio Delivering Products that Matter Pharmaceutical, Food & Nutrition Speciality Ingredients Battery Materials Mineral Micro-nutrient Liposomal Fillers Ingredients Battery-Grade Iron Phosphate* Fortificants Premixes pCAM for LFP (Lithium Iron Phosph
Slide 13: 2. High Entry Barriers
2. High Entry Barriers Composition split a Tablet ~5% Excipients ~95% API ~95% Excipients ~5% API Low Cost but High Functionality Disintegration & Tablet Performance^ Stability of Tablet^ Dissolution^ Product Range Tailored to Meet the Precise Needs of Customers in a High Barrier Industry Excipients
Slide 14: 3. Well-Equipped & Regulatory Compliant Manufacturing Facilities
3. Well-Equipped & Regulatory Compliant Manufacturing Facilities • 4 Manufacturing Facilities* Upcoming Facility - Annual Capacity of 51,200 MT • Annual available production* capacity – 72,246 MT* Upcoming facility at Nandesari with an annual • Total area capacity of 51,200 MT & expect to commission
Slide 15: 4. Proprietary Technologies
4. Proprietary Technologies Encapsulation Spray Drying Granulation Blending Liposomal Preparation Trituration Expertise In: Extending Product Shelf-life Target, Controlled and Sustained Release Address Taste and Odor Challenges Particle Engineering Enhance Ingredient Bio-Availability Improved Produc
Slide 16: 5. Strong Research & Development Capabilities
5. Strong Research & Development Capabilities R&D Expenses (% of Revenue from Operations) 420 127 Products R&D Projects Commercialised 1.96% 1.71% 41 R&D Personnel 6 Proprietary Technologies 1.24% 0.91% R&D Initiatives Assist in^ : Extending Product Shelf-life & Vitality Ensuring Targeted Release of
Slide 17: 6. Distinguished global customer base with long standing relationships
6. Distinguised global customer base with long standing relationships with Key Customers ^ 83.17% 14 14.58% 1,100+ Of revenue* as repeat¹ Global Fortune 500 Single Largest Customers served^ Customer business^ companies as customers^ ^ ^ 40+ 34.08% 42.10% 7.08 Years ~100 Countries Top 5 Customers Top
Slide 18: 7. Proven Credentials and Leading Accolades
7. Proven Credentials and Leading Accolades Key Awards Key Certifications FRK Manufacturing Customer Centric Excellence Business Partner Award Award By Millers for By Abbott Nutrition Suppliers Excellence in Summit 2023 Innovative Award Ingredients Manufacturing By Herbalife Nutrition By ASSOCHAM Gl
Slide 19: 8. Experienced Board and Senior Management Team
8. Experienced Board and Senior Management Team Promoters & Directors Board Members Mr. Ajay Kandelkar- Director of Operations Dairy technology from Dr. Panjabrao Deshmukh KV 23 years of experience in production & operations Past Association - Drytech, Taiyo-Kagaku Independent Director Mr. Samaresh
Slide 20: 9. Healthy Improvement in Performance with Disciplined Balance Sheet
9. Healthy Improvement in Performance with Disciplined Balance Sheet Total Income EBITDA & Margin % Rs. Cr. Rs. Cr. 22.5% 40.3% 39.0% 37.9% +8% 511.3 465.4 438.3 +42% 187.8 199.3 302.9 114.7 98.6 FY23 FY24 FY25 H1FY26* FY23 FY24 FY25 H1FY26* PAT & Margin % Net Debt & Net Debt / Equity (x) Rs. Cr. Rs
Slide 21: 10. Backed by Healthy Growth in End User Industries
10. Backed by Healthy Growth in End User Industries Speciality Ingredients Pharmaceutical Excipients Food Nutritional Encapsulated Micronutrient Granulated Global India Ingredients Ingredients Ingredients Ingredients Ingredients Excipients Excipients Market Size USD 85.0 Bn USD 13.6 Bn USD 5.5 Bn US
Slide 22: Growth Levers
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Slide 23: 1. Organic Growth – Upcoming Greenfield Expansion
1. Organic Growth – Upcoming Greenfield Expansion Upcoming Greenfield at Nandesari, Gujarat Location Total Capex Capacity Nandesari GIDC, Gujarat ~ 150 Crores INR 51,200 MT Annually Focused Segment Mode of Financing Expected Commissioning By Pharmaceutical Excipients, Actives and Internal Accruals a
Slide 24: 2. Organic Growth – Leveraging Mineral Chemistry Expertise for Battery Materials
2. Organic Growth – Leveraging Mineral Chemistry Expertise for Battery Materials Key Pillar Our Advantage Leveraging Decade of expertise in Iron Phosphate FEOC-Compliant Supply Fully aligned with FEOC compliance norms, helping customers meet regulations under Chain the US IRA & EU Critical Raw Mater
Slide 25: 3. Inorganic Growth – Vitamin & Mineral Blends Business Acquisition
3. Inorganic Growth – Vitamin & Mineral Blends Business Acquisition Integrate Recently Acquired Entities & Continue Evaluating Inorganic Growth Opportunities Acquired 85.00% Engaged in business of manufacturing of vitamin & mineral blends May 2025 in form of dry blends, water soluble blends, oil sol
Slide 26: Recent Updates and Progress
Recent Updates and Progress • The Company has initiated the purchase of industrial land at Dahej, Gujarat, to set up a commercial manufacturing facility for battery-grade precursor materials, primarily iron phosphate, along with associated capital expenditure requirements. Customer Connect Global Cu
Slide 27: Key Capacity Expansion
Key Capacity Expansion Capacity Visibility (in MT)* FY25 Key Segments FY26e FY27e FY28e FY29e FY30e Existing 1) Pharma, Food & Nutrition 35,000 86,000 86,200 86,200 86,200 86,200 - Greenfield Project Addition 51,200 2) Speciality Ingredients 30,000 37,500 37,500 37,500 37,500 37,500 - NSS Capacity A
Slide 28: Q2 & H1FY26 Performance Highlights
Q2 & H1FY26 Performance Highlights
Slide 29: MD's Message
MD’s Message “With the Company’s successful listing on the stock exchanges, we express our sincere gratitude to our shareholders, employees, and all other stakeholders for their continued trust and support. We are pleased to report healthy performance in H1 FY26, supported by sustained demand and hi
Slide 30: Q2 & H1FY26 Performance Highlights
Q2 & H1FY26 Performance Highlights Total Income EBITDA & Margin % PAT & Margin % Rs. Cr. Rs. Cr. Rs. Cr. 43.4% 38.0% 40.9% 37.9% 32.4% 27.1% 28.4% 25.8% 302.9 114.7 78.0 232.0 95.0 65.8 172.8 150.7 65.3 65.6 48.7 46.8 Q2FY25 Q2FY26* H1FY25 H1FY26* Q2FY25 Q2FY26* H1FY25 H1FY26* Q2FY25 Q2FY26* H1FY25
Slide 31: Key Factors Driving Higher Working Capital Days
Key Factors Driving Higher Working Capital Days Net Working Capital Days# 195 ▪ The Company has recently set up warehousing operations in the USA and Europe, with 184 inventory expected to start turning over in the next six months. 128 ▪ Additionally, NSS inventory has been consolidated as on date,
Slide 32: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Crs) Q2FY26 Q2FY25 YoY H1FY26 H1FY25 YoY FY25 Revenue from Operations 162.7 148.8 287.6 228.9 502.0 Other Income 10.2 1.9 15.3 3.1 9.3 Total Income 172.8 150.7 15% 302.9 232.0 31% 511.3 Cost of materials consumed 60.9 49.7 103.3 67.1 164.8 Employ
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs) Sept-25 Mar-25 Equity & Liabilities (Rs. Crs) Sept-25 Mar-25 Non - Current Assets 449.1 293.1 Total Equity 738.7 493.1 Property, plant and equipment 226.4 177.1 Equity share capital 9.7 9.7 Capital work-in-progress 126.3 88.2 Instruments entirely equity in
Slide 34: Consolidated Cash Flow
Consolidated Cash Flow Particulars (Rs. Crs) Sept-25 Sept-24 Net Profit Before Tax 103.6 87.3 Adjustments for: Non -Cash Items / Other Investment or Financial Items 0.0 9.1 Operating profit before working capital changes 103.6 96.5 Changes in working capital -66.3 -47.5 Cash generated from Operation
Slide 35: Historical Financial Statements
Historical Financial Statements
Slide 36: Historical Profit & Loss Statement
Historical Profit & Loss Statement Particulars (Rs. Crs) FY25 FY24 FY23 Revenue from Operations 502.0 459.3 428.7 Other Income 9.3 6.1 9.5 Total Income 511.3 465.4 438.3 Cost of materials consumed 164.8 165.3 182.5 Employee Expenses 38.3 29.4 66.1 Other Expenses 108.9 82.9 91.1 EBITDA 199.3 187.8 98
Slide 37: Historical Balance Sheet Statement
Historical Balance Sheet Statement Assets (Rs. Crs) Mar-25 Mar-24 Mar-23 Equity & Liabilities (Rs. Crs) Mar-25 Mar-24 Mar-23 Non - Current Assets 293.1 238.5 190.1 Total Equity 493.1 356.0 223.3 Property, plant and equipment 177.1 167.0 149.4 Equity share capital 9.7 1.4 1.4 Capital work-in-progress
Slide 38: Historical Cash Flow Statement
Historical Cash Flow Statement Particulars (Rs. Crs) Mar-25 Mar-24 Mar-23 Net Profit Before Tax 182.8 174.8 86.0 Adjustments for: Non -Cash Items / Other Investment or Financial Items 15.5 13.5 17.9 Operating profit before working capital changes 198.3 188.3 103.9 Changes in working capital -109.0 -
Slide 39: Planned Utilization of Net Proceeds
Planned Utilization of Net Proceeds Particulars Amount (Rs. Crs) Capital expenditure towards procurement of machinery for our production line located at Nandesari 75.8 Facility I General Corporate Purposes 12.7 Total 88.5 38
Slide 40: Thank You!
Thank You! Company Details: Investor Relations Advisor : Strategic Growth Advisors Pvt. Ltd. Sudeep Pharma Ltd. CIN - U74140MH2010PTC204285 CIN – U24231GJ1989PLC013141 Mr. Shrikant Sangani / Ms. Shaily Patwa Ms. Dimple Mehta – Company Secretary Email - shrikant.sangani@sgapl.net / shaily.p@sgapl.net