Highnoon Laboratories Limited · PSX:HINOON
Highnoon Laboratories — Investor Presentation (May 2026)
50 slides from Highnoon Laboratories's investor presentation, May 4, 2026
Slide 1: Corporate Briefing Session 2025
Corporate Briefing Session 2025
Slide 2: Agenda
Agenda 1 About Highnoon 2 Macro Economic Challenges and Business Risks 3 Pharma Industry Dynamics & Highnoon 4 Financial Analysis 5 Stock Market Presence 6 Strategic Direction & Operations 7 Future Outlook
Slide 3: About Highnoon
About Highnoon 01
Slide 4: Highnoon Credo
Highnoon Credo Our Core Values Our Aspiring Values 01 Perseverance 02 Reliability Passion Enriching life is our driving force. 03 Compassion 04 Integrity Innovation 05 Courage 06 Customer Focus We constantly break new ground.
Slide 5: Highnoon Group
Highnoon Group Parent Subsidiary ►
Slide 6: Milestones
Milestones 1984 1985 1990 1994 2005 2010 HNL incorporated as Private Ltd World's First Sucralfate Ulsanic Commencement of first HNL Listed on Pakistan Stock Pakistan's first DPI, Combivair Achieved 1 Billion Gross Revenue Company launched in Pakistan Plant Exchange (PSX) launched 2015 2018 2020 2021
Slide 7: Forbes Asia 200 Best Under A Billion
Forbes Asia 4x Forbes Asia's Only pharmaceutical company from Pakistan that has 200 Best Under made it to the Forbes Asia's Best Under a Billion list — 4 times A Billion 2018 · 2021 · 2022 · 2023 *CAGR: IQVIA DEC 2024
Slide 8: Highnoon Recognized at PESA 2025 & 2024 for Excellence in Pharma Exports
Key Achievements Highnoon Recognized at PESA 2025 & 2024 for Excellence in Pharma Exports Highnoon Pharmaceuticals received three major honors at PESA 2025, recognizing excellence in pharma exports, vision, and sponsorship.
Slide 9: Among the Top Performing Pharmaceutical Companies
Key Achievements Among the Top Performing Pharmaceutical Companies Recognized at the 40th Corporate Excellence Awards by the Management Association of Pakistan (MAP).
Slide 10: Highnoon x Beximco Partnership
Key Achievements Highnoon x Beximco Partnership Highnoon has entered a strategic partnership with Beximco Pharmaceuticals to support its international expansion. The collaboration focuses on distribution and commercialization of specialized therapies in respiratory, diabetes, and cardiovascular segm
Slide 11: Project FORCE – Groundbreaking
Key Achievements Project FORCE – Groundbreaking Highnoon marked the groundbreaking of Project FORCE, a strategic greenfield expansion. Designed on internationally compliant standards, it will strengthen manufacturing capabilities and support future growth across domestic and international markets, r
Slide 12: Highnoon Scale, Strength & Success
Highnoon Scale, Strength & Success Ranked 13th Pharma Export Annual Group Net Award Revenue PKR 27.705 bn** (USD 98.5 Mn) Out of 700+ Pharmaceuticals PESA in 2024 & 2025 4 Year CAGR: % 21.6% 7 Brands 2 Manufacturing Facilities in 1 Billion Club Pharmaceuticals *CAGR: IQVIA DEC 2025 | **Annual Report
Slide 13: Enriching Lives
Enriching Lives Human Resource Distribution Network 👥 2,500+ 🏥 52k+ Employees incl. largest Field Force of Medical Pharmacies nationwide Representatives Customer Universe Products 👨⚕️ 42k+ 💊 200+ Doctors Outreach Covering major Therapeutic areas
Slide 14: Highnoon Business Partners
Highnoon Business Partners Collaborative Excellence — Trusted Global Pharmaceutical Partnerships
Slide 15: Highnoon Toll Partners
Highnoon Toll Partners
Slide 16: Macro Economic Challenges and Business Risks
Macro Economic Challenges and Business Risks 02
Slide 17: Strong Economic Momentum Backed by IMF Program and Fiscal Prudence
Strong Economic Momentum Backed by IMF Program and Fiscal Prudence 2025: Resilient Performance Reinforces Foundations for Q1 2026 & Economic Outlook: Recovery on Track Amid Emerging Sustainable Growth Headwinds • GDP growth projected at 3.89% for Q2 FY2026; • Real GDP expanded by 2.68% in the World
Slide 18: Challenges & Risk Mitigation Actions
Challenges & Risk Mitigation Actions
Slide 19: Pharma Industry Dynamics & Highnoon
Pharma Industry Dynamics & Highnoon 03
Slide 20: Market Dynamics
Market Dynamics Market Size Universe Top Players PKR 1,000+ Bn 750+ Top 15 Companies dominate 61% of total GOLY +21% Pharma Companies market share *IQVIA MAT DEC 2025
Slide 21: Pharma Industry Over The Years
Pharma Industry Over The Years Source: IQVIA MAT DEC 2025
Slide 22: Highnoon Over The Years
Highnoon Over The Years Source: IQVIA MAT DEC 2025
Slide 23: Comparison with Industry Revenue Growth
Comparison with Industry Revenue Growth Industry Highnoon CAGR: 15.39% CAGR: 22.29% Growth: 3.6x Growth: 6.1x (PKR 324 Bn to 1,175 Bn) VS (PKR 4.9 Bn to 29.98 Bn) Source: IQVIA MAT DEC 2025
Slide 24: Growth in Counting Units
Growth in Counting Units CAGR 3.0% CAGR 7.5% Industry Highnoon Highnoon has outpaced the industry by 1.9 times, demonstrating more efficient processes, strong quality controls and product portfolio diversification Source: IQVIA MAT DEC 2025
Slide 25: Pharma Industry Over The Years (USD)
Pharma Industry Over The Years (USD) Source: IQVIA MAT DEC 2025 & State Bank of Pakistan for exchange rate
Slide 26: Highnoon Over The Years (USD)
Highnoon Over The Years (USD) Highnoon Gross Revenue in USD 120.0 30% 26% 106.5 25% 100.0 22% 20% 20% 95.3 84.4 84.4 80.0 14% 15% 75.5 12% 69.0 12% 63.7 10% 59.6 8% 60.0 53.4 7% 5% 46.8 38.9 40.0 0% 0% -5% 20.0 -11% -10% - -15% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Highnoon Revenue
Slide 27: Comparison of Growth in USD
Comparison of Growth in USD Industry Highnoon 10-year CAGR: 3.4% 3x 10-year CAGR: 9.6% Source: IQVIA MAT DEC 2025
Slide 28: Financial Analysis
Financial Analysis 04
Slide 29: Key Performance Indicators (1/2)
Key Performance Indicators (1/2) FY 2025 Financial Highlights Net Revenue Profit After Tax PKR 25.8 Bn PKR 4.12 Bn GOLY +11.2% GOLY +26.6% | 15.97% of Net Sales EPS Market Capitalization PKR 77.75 PKR 54.18 Bn GOLY +26.61% GOLY +11.4%
Slide 30: Key Performance Indicators (2/2)
Key Performance Indicators (2/2) FY 2025 Financial Highlights Assets Equity PKR 18.4 Bn PKR 13.2 Bn GOLY +14.6% GOLY +17.4% Dividend Price Earning Ratio PKR 50/share 13.15 Dividend 500% | GOLY + 25% GOLY - 12%
Slide 31: Strengthening Returns over the Years
Strengthening Returns over the Years *Annual Report 2025
Slide 32: Driving Margin Growth
Driving Margin Growth *Annual Report 2025
Slide 33: Adding towards Shareholders' Wealth
Adding towards Shareholders' Wealth *Annual Report 2025
Slide 34: Accelerating Value Creation
Accelerating Value Creation *Annual Report 2025
Slide 35: Key Performance Indicators – Highnoon Group
Key Performance Indicators – Highnoon Group FY 2025 Consolidated Results Net Revenue Profit After Tax PKR 27.70 Bn PKR 4.128 Bn GOLY +12.4% 14.9% of Sales ┃GOLY + 21.8% Equity EPS PKR 13.8 Bn PKR 77.92 GOLY +21.8%
Slide 36: Stock Market Presence
Stock Market Presence 05
Slide 37: Capitalizing on a Volatile Market
Capitalizing on a Volatile Market **Annual Report 2025 & Pakistan Stock Exchange
Slide 38: Market Premium over Breakup Value
Market Premium over Breakup Value *Annual Report 2025
Slide 39: Valuation and Yields
Valuation and Yields *Annual Report 2025
Slide 40: Free Float
Free Float Industry Average Highnoon 10% VS 40% Pharmaceutical Free Float Free Float Highnoon has outpaced the industry by 4 times, having a healthy free float is strong indicator of liquidity and market accessibility of the share *IQVIA MAT DEC 2025
Slide 41: Strategic Directions & Operations
Strategic Directions & Operations 06
Slide 42: Strategic Direction
Strategic Direction 1 2 3 → → Consolidating Strengthening Growth in Growth in Position in International Chronic Care Primary Care Market Share * HNL Annual Report 2024
Slide 43: Leading Brands
Leading Brands Our Top 10 brands constitute to more than 43% of the total gross revenue. Combivair® Cyrocin® Tagipmet™ Kestine™ Ulsanic® PKR 2.2 Bn 1.9 Bn 1.5 Bn 1.3 Bn 1.2 Bn USD 7.7 Mn USD 6.8 Mn USD 5.5 Mn USD 4.7 Mn USD 4.1 Mn Tres-Orix® Biforge Triforge™ EFIX Ceftro 1.1 Bn 1.0 Bn 940 Mn 922 Mn
Slide 44: Portfolio Mix
Portfolio Mix Group Net Revenue PKR 27.7 Bn US$ 98.5 Mn Growth 12.4% * HNL Annual Report 2024
Slide 45: 17 New Product Launches
Expanding Healthcare 17 New Product Launches 11 6 Chronic Healthcare Launches Acute Healthcare Launches **Annual Report 2025 | *CAGR: IQVIA DEC 2024
Slide 46: Exports
Exports 220 Products Exported 100 Products in Pipeline
Slide 47: Future Outlook
Future Outlook 07
Slide 48: Highnoon Future Outlook
Highnoon Future Outlook 🏆 Leadership & Growth 🔬 Diversification Sustain and strengthen our leadership position in Cardiology, Focus on biologics, novel drug delivery systems and other Respiratory, Diabetes and Anti-Infective therapeutic segments cutting-edge technologies to stay ahead of industry…
Slide 49: Leading the Way in Sustainability Reporting
Environment. Social. Governance - ESG Leading the Way in Sustainability Reporting First IFRS-aligned Sustainability Report (FY25) published ahead of SECP timelines ️ Driven by leadership & board oversight 📊 Aligned with strategy & governance ️ Strengthened cross-functional collaboration ⚙️…
Slide 50: Questions
Questions Thank you for your attention.
Highnoon Laboratories — Investor Presentation (May 2026) on 6ix