Windlas Biotech Ltd. · NSE:WINDLAS
Windlas Biotech — Q1 FY27 Earnings Presentation
33 slides from Windlas Biotech's earnings presentation, Aug 10, 2026
Slide 1: Windlas Biotech Limited exchange filing cover letter
Windlas Biotech Limited Reg. Off.: 40/1, Mohabewala Industrial Area Dehradun, Uttarakhand 248 110, India Tel.:+91-135-6608000-30, Fax:+91-135-6608199 Corp. Off.: 705-706, Vatika Professional Point, Sector-66, Golf Course Ext. Road, Gurgaon, Haryana 122 001, India Tel.:+91-124-2821030 CIN-L74899UR200
Slide 2: Investor Presentation – Q1FY27
Windlas Biotech Limited Investor Presentation – Q1FY27
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), has been prepared by Windlas Biotech Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form t
Slide 4: Table of Contents
Table of Contents Windlas – At a Glance Q1FY27 Highlights SCALABILITY, DURABILITY & Business Verticals PROFITABILITY Company Overview Annual Financials 3
Slide 5: Windlas – Trusted Partner in Delivering Value Across the Healthcare Ecosystem
Windlas – Trusted Partner in Delivering Value Across the Healthcare Ecosystem Building Scale and Excellence in ~25 Years of Expertise Robust Financial Position Generic Formulations Creating Strong Entry Barriers (as of FY26) • Presence across all stages of Generics Value Chain • 5 State-of-the-Art,
Slide 6: Q1FY27 Highlights
windlas Q1FY27 Highlights
Slide 7: Management Commentary
Management Commentary The Indian Pharmaceutical Market (IPM) witnessed a volume growth of 3.4% in Q1 FY27, reflecting a steady yet measured industry environment. Against this backdrop, Windlas Biotech continued its growth trajectory, delivering its highest-ever quarterly revenue of ₹248 crore, repre
Slide 8: Key Business Highlights
Key Business Highlights 14th Consecutive Quarter Rs 34 Cr Rs 25 Cr of record Revenue Rs 248 Cr *Adjusted EBITDA; YoY growth 26% *Adjusted PAT; YoY growth 37% (Q1FY27) (Q1FY27) (Q1FY27) Rs 47 Cr Rs 13 Cr Rs 8.46 Buy Back completed Dividend paid EPS (Without Promotor’s Participation) (Related to FY26)
Slide 9: Vertical-wise Revenue Breakup
Vertical-wise Revenue Breakup Generic Formulations Trade Generics & Exports Revenue Mix (%) CDMO (Rs Cr) Institutional (Rs Cr) (Rs Cr) 4% 12% +29% -32% +79% Q1FY27 84% 207 44 160 30 11 3% 21% 6 Q1FY26 76% Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Generic Formulations CDMO Trade Generics & Institutio
Slide 10: Consolidated Quarterly Financial Performance
Consolidated Quarterly Financial Performance Net Revenue from Operations (Rs Cr) Adjusted EBITDA (Rs Cr) & Margin (%) Adjusted PAT (Rs Cr) & Margin (%) 12.8% 13.6% 8.6% 10% +18% +26% +37% 248 210 34 25 27 18 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 1. Adjusted EBITDA & Margin and PAT & Margin are e
Slide 11: Consolidated Quarterly Financial Performance
Consolidated Quarterly Financial Performance Net Revenue from Operations (Rs Cr) Reported EBITDA (Rs Cr) & Margin (%) Reported PAT (Rs Cr) & Margin (%) 12.6% 10.8% 8.4% 7.1% +18% +1% -0.1% 248 210 27 27 18 18 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 10
Slide 12: Consolidated Profit & Loss Highlights
Consolidated Profit & Loss Highlights Particulars (Rs Cr) Q1FY27 Q1FY26 Y-o-Y (%) Net Revenue from Operations 248 210 18% COGS 153 130 Gross Profit 95 80 19% Gross Margin (%) 38.4% 38.3% Employee Expenses (excluding ESOPs) 37 32 Other Expenses 24 22 EBITDA (excluding ESOPs expenses) 34 27 26% EBITDA
Slide 13: Expected Non-Cash ESOP P&L impact
Expected Non-Cash ESOP P&L impact Scheme (Rs Cr) FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29 FY 2029-30 FY 2030-31 H1 (Actual) H2 (Actual) H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 ESOP Plan 2025 1.18 14.28 13.96 7.78 7.40 4.19 3.93 1.80 0.89 0.79 0.01 - ESOS Plan 2023 0.71 0.40 0.32 0.35 0.28 0.10 0.06 0.05 0.
Slide 14: Consistently Rewarding Shareholders
Consistently Rewarding Shareholders • Buyback of shares: • In April 2026, the company had announced a buyback of up to 4,70,000 equity shares (~2.23% of total equity shares), aggregating to ~Rs 47 Cr through the tender offer route • The buyback was undertaken at a price of Rs 1,000 per share, payabl
Slide 15: Business Verticals
windlas Business Verticals
Slide 16: 1. Generic Formulations CDMO – Largest Business Vertical; Growing Consistently
1. Generic Formulations CDMO – Largest Business Vertical; Growing Consistently • Generic Fomulations CDMO focuses on Branded Generic Products which are sold to pharma companies who market products under their own brands Key Offerings • Windlas is amongst the leading Domestic Generic Formulations CDM
Slide 17: Key Factors for Customer Base Expansion
Key Factors for Customer Base Expansion Audits by several MNCs & Domestic Customers over the years Focused On Building Sustained Customer Base While Mitigating Client Concentration Risk Product Excellence: Dosage innovation, complex generic products No. of Customers (#) Manufacturing Excellence: Tra
Slide 18: 2. Trade Generics & Institutional – High Growth Vertical with Strong Market Potential
2. Trade Generics & Institutional – High Growth Vertical with Strong Market Potential • Manufactures market affordable and high-quality generic drugs • Brand Ownership is with Windlas Biotech Market Opportunities • Untapped Rural Demand: Large underserved population with • Sold directly to stockist
Slide 19: 3. Exports – Expanding Global Footprint
3. Exports – Expanding Global Footprint • Number of Brands: Focused on Emerging & Semi-Regulated International Markets • Brand Used: Own Brands and End Customer Brands Geographical Reach • Products: Exported 67 Products during FY26 which includes Generic Medicines & Health Supplements • Develop and
Slide 20: Company Overview
windlas Company Overview
Slide 21: ~25 Years of Building Excellence – Our Journey So Far
~25 Years of Building Excellence – Our Journey So Far Revenue crossed Rs 900 Cr Plant-6 near completion stage Plant-IV and Plant – V both received GMP certificate from Philippines. Plant-IV approved by SAPHRA(South Africa) Invested Rs 89 Mn in and EU-GMP(Europe) building Plant and Commis
Slide 22: Windlas Biotech’s Presence in Pharma Value Chain
Windlas Biotech’s Presence in Pharma Value Chain Innovator Value Chain Patent Expiry Clinical trials Bulk Drugs Formulation Research (I-III) Marketing Manufacturing Manufacturing Value Chain Generics Formulation API Dev & Dev & Clinical (III+ ) Packaging Marketing Manufacturing Manufacturing Generic
Slide 23: State-of-the-Art Manufacturing Facilities
State-of-the-Art Manufacturing Facilities Location - Dehradun Plant 1 Plant 2 Plant 3 Plant 4 Plant 5 Plant 6 Total Capacity Commencement Year 2001 2014 2018 2009 2024 2027 (Mn) WHO-GMP Compliant Tablets & Capsules (Mn) 772 5,477 992 1,281 8,522 Manufactures: OSD Facility, Ampoules, Liquid Mechanica
Slide 24: Robust R&D Capabilities Driving Innovation and Growth
Robust R&D Capabilities Driving Innovation and Growth R&D Expenditure (Rs Cr) Leading to New Innovations Key Highlights • Medicated chewing gum (multi-vitamin) • DSIR approved state of the art • Chocolate flavored chewable tablets R&D laboratory & pilot scaled 8.9 • Dispersible tablets equipment 7.9
Slide 25: Strategy & Pathway to Sustainable Growth
Strategy & Pathway to Sustainable Growth Lead the Way in Generic Formulation CDMO R&D-Led Product Development • Capitalize on strong position in a fragmented market through • Focus on first-to-launch complex generics and novel dosage organized expertise & innovation formats (medicated gums, dispersi
Slide 26: Strong Board of Directors…
Strong Board of Directors… Vivek Dhariwal Ashok Kumar Windlass Hitesh Windlass Manoj Kumar Windlass Chairman and Independent Director Whole-Time Director Managing Director Jt. Managing Director Provides strategic oversight and governance as Chairman Serves as Whole-Time Director, contributing to str
Slide 27: …Coupled with Proficient Management Team
…Coupled with Proficient Management Team Komal Gupta Ananta Narayan Panda Om Prakash Sule CEO & CFO CS and Compliance Officer Site Quality Head Leads the Company’s strategic, financial, and Oversees corporate governance, secretarial functions, Leads the Company’s site-wide quality operations, operat
Slide 28: Annual Financials
windlas Annual Financials
Slide 29: Track Record of Healthy Financial Performance and Position
Track Record of Healthy Financial Performance and Position Revenue (Rs Cr) EBITDA (Rs Cr) & Margin (%) PAT (Rs Cr) & Margin (%) EPS (in Rs) 11.3% 11.7% 12.4% 12.4% 11.6% 8.2% 8.3% 9.2% 8.0% 7.3% CAGR +18% CAGR +19% CAGR +15% CAGR +14% 904 760 61 66 105 58 631 94 32 466 513 78 38 43 28 29 52 60 19 20
Slide 30: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (Rs Cr) FY26 FY25 FY24 FY23 FY22 Net Revenue from Operations 904 760 631 513 466 COGS 557 472 396 325 303 Gross Profit 347 288 235 188 163 Gross Margin (%) 38.4% 37.9% 37.2% 36.6% 35.0% Employee Expenses (Excluding ESOP expenses) 135 120 85 69 62 Other Expenses
Slide 31: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Liabilities (Rs Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Property, Plant and Equipment 187 196 170 103 88 Equity Share Capital 11 11 10 11 11 Capital Work in Progress 56 3 6 14 8 Other Equity 570 495 440 392 384 Right to Use
Slide 32: Consolidated Cash Flow
Consolidated Cash Flow Particulars (Rs Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Net Profit Before Tax and Extraordinary Items 87 80 77 57 46 Adjustments for: Non-Cash Items / Other Investment or Financial Items 37 18 7 7 10 Operating Profit Before Working Capital Changes 124 98 84 64 56 Changes in Wor
Slide 33: Connect with Us
Connect with Us Windlas Biotech Ltd Stellar IR Advisors Pvt Ltd Komal Gupta Ankit Jain | Manveer Sharma komal@windlasbiotech.com ankit@stellar-ir.com | manveer@stellar-ir.com +91 124 2821034 +91 22 62398024 40/1, Mohabewala Industrial Area, Dehradun 248 110 A-405, Kanakia Wall Street, Andheri (East)