Emcure Pharmaceuticals Limited · NSE:EMCURE
Emcure Pharmaceuticals — Investor Presentation (June 2026)
26 slides from Emcure Pharmaceuticals's investor presentation, Jun 12, 2026
Slide 1: Exchange intimation of Investor Presentation – June 2026
Emcure Ref: EPL/CS/SE/0050/2026 Date: June 12, 2026 To, National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, P J Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Mumbai – 400 051 Mumbai- 400 001 Script Symbol: EMCURE Scrip Code/Symbol: 544210/ EMCURE Dear Sir/
Slide 2: Investor Presentation June 2026
Investor Presentation June 2026 1
Slide 3: Disclaimer
Disclaimer Except for the historical information contained herein, statements in this presentation and the subsequent discussions may constitute “forward-looking statements.” These statements are based on Emcure Pharmaceuticals Limited’s current expectations, assumptions, and projections about futur
Slide 4: Emcure at a Glance
Emcure at a Glance USD 1Bn + ~44% 11/32 19 Scale TTM Revenue from TTM domestic contribution Brand families with revenue > Of Top 20 Brands ranked top 3 Operations INR 100/50Cr in respective TA’s #2 #13 #9 ~50% Domestic Rank in Gynecology Largest player Rank by market share in Revenue share from comp
Slide 5: Since IPO, Have Successfully Delivered On…
Since IPO, Have Successfully Delivered On… 1 Faster than Industry Growth Across Markets 2 Margin Expansion Driven by Operating Leverage 3 Robust In-House R&D Pipeline Across Key Platforms 4 Several Accretive M&A / Strategic In-Licensing Deals 5 Augmented Domestic Franchise with Experienced Leadershi
Slide 6: Last 8Q: Mid-to-High Teens Revenue Growth
Last 8Q: Mid-to-High Teens Revenue Growth Revenue (INR Cr) FY26 Snapshot 9,204 Revenue / Growth EBITDA / Margin Adj PAT¹ / Margin 7,896 6,658 9,204 / 16.6% 1,789 / 19.4% 1,008 / 10.9% Revenue (INR Cr) / YoY growth EBITDA (INR Cr) / Margin Adj PAT¹ (INR Cr) / Margin FY24 FY25 FY26 Key Highlights FY26
Slide 7: Operating Leverage Linked Margin Expansion
Operating Leverage Linked Margin Expansion EBITDA (INR Cr) PAT (INR Cr) RoCE (%) 1,789 941 23.8% 22.0% 1,469 19.4% 707 1,230 528 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 Margin %: Margin %: +230 bps 18.5% 18.6% 19.4% 7.9% 9.0% 10.2% Operating leverage play out led by: Improved Productivity – PCP
Slide 8: Strong Global Pipeline of Differentiated Products
Strong Global Pipeline of Differentiated Products Platforms positioned to drive near- and long-term growth Biologics NDDS Complex Inj LAI ADC Next 24M Pipeline Medium -to-Long Term Pipeline Anti-Diabetes Semaglutide NDDS Ophthalmology Bevacizumab Oncology Oncology ADC LAI Biosimilar Anti-Infectives
Slide 9: Augmented by Strategic In-Licensing & Acquisitions
Augmented by Strategic In-Licensing & Acquisitions In-Licensing Partnerships Strategic Acquisitions Sanofi Zuventus Healthcare Exclusive distribution agreement for oral anti-diabetic products in India; access Acquired full control of Zuventus Healthcare in a ₹724.9 Crore deal, to Amaryl and Cetapin
Slide 10: India Business
India Business I 9
Slide 11: FY26 – Domestic Business Performance
FY26 – Domestic Business Performance Domestic Revenue (INR Cr) Growth in line with IPM; continued productivity enhancement with PCPM increasing to INR 7.0 lacs in FY26 4,027 3,659 Strengthened the team with new leadership hires across key segments as part of 3,144 reforming and reorganizing the dome
Slide 12: India – Augmented with New Areas, In-Licensing & Leadership
India – Augmented with New Areas, In-Licensing & Leadership PPM – +23% # Large Brands¹² – 4X Chronic Share² up 12% 7.0 32 38.3% 6.3 5.7 26.3% 7 FY24 FY25 FY26 FY20 FY26 FY20 FY26 Specialized experienced leadership team to lead four key verticals In-house Product Pipeline In-Licensing New Growth Area
Slide 13: India Portfolio Map – Leadership in Key TAs
India Portfolio Map – Leadership in Key TAs Strong product pipeline across scaled franchises Emcure Zuventus INR 200 Cr+ Leader with 25+ yrs experience (ex Sun Pharma) Now a 100% subsidiary Multiple anchor brands at scale Focus on Women Health & Cardio-Diabeto – 50% Seasoned leader, 20+ yrs experien
Slide 14: India – Expansion into New Therapeutic Segments
India – Expansion into New Therapeutic Segments A Super Specialty B Consumer (OTC) C Dermatology Led by a seasoned leader with 20+ yrs experience USD 12 Bn market growing at 10% CAGR USD 1.8+ Bn industry growing at 10%+ with Roche / Novartis Range of products in Prescription and Cosmo-derma Arth wel
Slide 15: Europe
Europe II 14
Slide 16: Europe – Strong Injectable Portfolio to Drive Growth
Europe – Strong Injectable Portfolio to Drive Growth Europe Generics market¹ – USD 70 Bn+ opportunity Emcure growing at a faster pace USD Bn INR Cr 1,850 69 65 62 1,474 58 1,411 52 55 1,187 2020 2021 2022 2023 2024 2025 FY23 FY24 FY25 FY26 Growth: +6.1% CAGR Growth: +11.4% CAGR Strong near-term grow
Slide 17: Canada
Canada III 16
Slide 18: Canada – Leadership Position with a Long Growth Runway
Canada – Leadership Position with a Long Growth Runway Canada Generic Market growing (1) ~ 8% (CAD Bn) Emcure growing faster than industry (INR Cr) 11.2 10.4 9.4 1,487 8.4 8.9 7.8 1,252 923 729 2020 2021 2022 2023 2024 2025 FY23 FY24 FY25 FY26 Growth: +7.5% CAGR Growth: +26.8% CAGR Company Size (CAD
Slide 19: RoW
RoW cure beyond
Slide 20: RoW – At an Inflection Point
RoW – At an Inflection Point Strong growth over past few years Mix of ARV / Non-ARV businesses INR Cr ARV business: strong order book and pipeline of next-gen products to drive growth 1,840 1,510 Non-ARV business at an inflection point led by key product launches 1,181 Portfolio of complex injectabl
Slide 21: Key Takeaways
Key Takeaways 1 2 3 Consistent Compounding Balanced Diversification Future-ready Pipeline Consistent low-to-mid teens revenue growth Balanced growth across India and global Robust pipeline of complex products including with margin expansion driven by operating markets, supported by a differentiated
Slide 22: For further information / institutional investor queries
For further information / institutional investor queries Contact: Saurabh Paliwal Email: Investor.Relations@emcure.com Registered Office Plot No. P-1 and P-2, IT-BT Park, Phase II, M.I.D.C., Hinjawadi, Pune 411 057, Maharashtra, India Website www.emcure.com 21 21
Slide 23: Annexures
Annexures V 22
Slide 24: P&L Summary | Q4 & Full Year FY26
P&L Summary | Q4 & Full Year FY26 INR Cr except % Q4FY26 Q4FY25 YoY % Q3FY26 QoQ % FY26 FY25 YoY % Revenue from Operations 2,470 2,116 16.7% 2,363 4.5% 9,204 7,896 16.6% Domestic 977 929 5.2% 1,025 -4.6% 4,027 3,660 10.0% International 1,493 1,187 25.7% 1,339 11.5% 5,177 4,236 22.2% EM 556 481 15.5%
Slide 25: Balance Sheet Summary
Balance Sheet Summary Equity and Liabilities (INR Cr) Mar 31, 2026 Mar 31, 2025 Assets (INR Cr) Mar 31, 2026 Mar 31, 2025 Shareholder Funds 4,950 4,446 Fixed Assets 3,592 3,374 Share Capital 190 189 Property, plant and equipment 1,960 1,954 Reserves & Surplus 4,760 4,257 Others 1,460 1,296 Minority
Slide 26: Cash Flow Statement | Full Year FY26
Cash Flow Statement | Full Year FY26 Particulars (INR Cr) FY26 FY25 Profit before tax 1,287 971 Depreciation and amortisation 415 384 Changes in fair value of contingent consideration 43 - Finance cost 142 167 Corporate Tax / Advance tax (net of refund) (368) (247) (Increase) / decrease in Net worki
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