Emcure Pharmaceuticals Limited · NSE:EMCURE
Emcure Pharmaceuticals — Investor Presentation (February 2026)
21 slides from Emcure Pharmaceuticals's investor presentation, Feb 20, 2026
Slide 1: Intimation of Investor Presentation to Stock Exchanges
Emcure Ref: EPL/CS/SE/0017/2026 Date: February 20, 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
Slide 2: Investor Presentation February 2026
Investor Presentation February 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 INR 8,850Cr 45% 11/30 14 TTM Revenue from TTM domestic Brand families with Of Top 20 Brands ranked Scale Operations contribution revenue (1) > INR 100/50Cr top 3 in respective TA (1) #2 #13 #8 ~50% Rank by market share in Revenue share from Domestic Rank in Gynaec(1) Largest playe
Slide 5: Since IPO, Have Successfully Delivered On…
Since IPO, Have Successfully Delivered On… Faster than Industry Growth Across Markets 1 Margin Expansion Driven by Operating Leverage 2 Robust In-House R&D Pipeline Across Key Platforms 3 Several Accretive M&A /Strategic In-Licensing Deals 4 Augmented Domestic Franchise with Experienced Leadership T
Slide 6: Last 7Q, Delivered Mid to High Teens Revenue Growth
Last 7Q, Delivered Mid to High Teens Revenue Growth Faster than Industry Growth Across Markets Grew 18%+ in FY25 Overall Business Grew 16.5% in 9M FY26 Revenue, INR Cr. Revenue, INR Cr. 7,896 6,734 6,658 5,780 FY24 FY25 9M FY25 9M FY26 Overall Overall Overall Overall ▪ Overall mid-high teens growth
Slide 7: Last 7Q, Operating Leverage Linked Margins Expansion
Last 7Q, Operating Leverage Linked Margins Expansion PAT margins up 250bps+ EBITDA Margins up + 90bps PAT Margin up +250bps RoCE up +200bps 22.7% 22.0% 10.4% 9.0% 19.4% 7.9% 18.5% 18.6% 19.4% FY24 FY25 9MFY26 FY24 FY25 9MFY26 FY24 FY25 9MFY26 ▪ Operating leverage play out led by ▪ Improved Productiv
Slide 8: Strong Global Product Pipeline of Differentiated Products To Drive Growth
Strong Global Product Pipeline of Differentiated Products To Drive Growth Novel Drug Complex Long-Acting Antibody-Drug Biologics Delivery System Injectables Injectables (LAI) Conjugates (ADC) (NDDS) Next 24M Med-Long Pipeline Term Pipeline Anti - Diabetes Semaglutide NDDS Ophthalmology Bevacizumab O
Slide 9: Augmented by Strategic In-licensing Partnerships and Acquisitions
Augmented by Strategic In-licensing Partnerships and Acquisitions In-Licensing Partnerships Strategic Acquisitions Source: Press Search 8 1. EP News Bureau 2. NDTV
Slide 10: India Business
India Business 9
Slide 11: India – Augmented with New Areas, In-Licensing and Experienced Leadership
India – Augmented with New Areas, In-Licensing and Experienced Leadership DOMESTIC BUSINESS PPM – +23% # Large Brands (1)(2) – 4X Chronic Share(2) up 12% #of Brands >INR 50 Cr Chronic Business Share 7.0 30 6.3 38.0% Drove 5.7 26.3% Improvements in Key Metrics 7 FY24 FY25 9MFY26 MAT Mar'20 MAT Dec'25
Slide 12: India – Leadership in Key TAs with Strong Product Pipeline
India – Leadership in Key TAs with Strong Product Pipeline ▪ Hired seasoned leader (ex-Sun Pharma) with 25+ yrs of ▪ Now 100% subsidiary Key experience ▪ Hired seasoned leader ((ex Sun/ updates ▪ Focus on Women Health and Cardio-Diabeto – 50% of India Ranbaxy) with 20+ years of experience sales Bran
Slide 13: India – Expansion into New Therapeutic Segments
India – Expansion into New Therapeutic Segments A B C Super Specialty Consumer (OTC) Dermatology ▪ Led by a seasoned leader with 20+ ▪ $12Bn market growing at 10% CAGR ▪ $1.8+ Bn industry growing at 10%+ years experience with Roche/Novartis ▪ Arth wellness and health supplement ▪ Range of products i
Slide 14: Canada
Canada 13
Slide 15: Canada – Leadership Position with a Long Growth Runway
Canada – Leadership Position with a Long Growth Runway Canada Generic Market growing at >8%(1) Emcure growing significantly faster than industry CAD Bn. Revenue, INR Cr. 1,252 8.5 7.9 1,087 7.1 6.5 923 6.1 729 2020 2021 2022 2023 2024 FY23 FY24 FY25 9MFY26 Significant Room to Grow Comments Company S
Slide 16: Europe
Europe 15
Slide 17: Europe – Strong Injectable Portfolio to Drive Growth
Europe – Strong Injectable Portfolio to Drive Growth Europe Generics market (1) is USD70 Bn+ opportunity Emcure growing at a faster pace INR Cr. 76 70 1,474 66 1,411 1,311 1,187 2023 2024 2025 FY23 FY24 FY25 9MFY26 • Strong near-term growth drivers – Liposomal Amphotericin B & Manx portfolio • Lipos
Slide 18: RoW
RoW 17
Slide 19: RoW – At an Inflection Point
RoW – At an Inflection Point Strong growth over past few years ▪ Mix of ARV/Non-ARV businesses Revenue, INR Cr. 1,510 ▪ ARV business: Strong order book and pipeline of next-gen 1,285 products to drive growth 1,181 1,033 ▪ Non-ARV business at an inflection point led by key product launches ▪ Portfoli
Slide 20: Summary
Summary ▪ Consistent mid-high teens growth with margin expansion driven by operating leverage and strong ROCE delivery ▪ Balanced growth across India and global markets, supported by differentiated portfolio and leadership in key therapies ▪ Robust pipeline of complex products including biologics, N
Slide 21: For further information / institutional investor queries
For further information / institutional investor queries – Contact 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 20
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