Kwality Pharmaceuticals Ltd · BSE:KPL
Kwality Pharmaceuticals — Q4 FY2026 Earnings Presentation
33 slides from Kwality Pharmaceuticals's earnings presentation, Mar 31, 2026
Slide 1: Kwality Pharmaceuticals Ltd Q4 & FY26 Investor Presentation
Kwality Pharmaceuticals Ltd Q4 & FY26 Investor Presentation
Slide 2: Disclaimer
DISCLAMER Some of the statements made in this presentation are forward-looking statements and are based on the current beliefs, assumptions, expectations, estimates, objectives and projections of the directors and management of Kwality Pharmaceutical Limited about its business, the industry and mark
Slide 3: 4 Decades of Expertise and Manufacturing Excellence
4 Decades of Expertise and Manufacturing Excellence Future Growth: High Margin critical Research + Manufacturing + Quality Excellence Achieved Expertise in Complex Formulation care, Bio-similar and oncology Development & Manufacturing molecules including peptides 01 1,700+ employees including 80+ in
Slide 4: Revenue growth supported by manufacturing scale-up
Revenue growth supported by manufacturing scale-up All values in INR Cr. CAGR : 26% 650 503 370 307 251 FY23 FY24 FY25 FY26 FY27E Journey so far… 1983 2018 2020 2022 2023 2024 2025 2026 Company • Manufacturing • Migrated • Established • Established • Initiated • PICs GMP • EUGMP approval for general
Slide 5: Profit growing ~3x times faster than its revenue
Profit growing ~3x times faster than its revenue Revenue Scale Translating into Profit Acceleration Margins Holding Firm, Profits Expanding 67 14% 11% 8% 40 22% 24% 22% 24 50% 51% 49% 503 370 307 FY24 FY25 FY26 FY24 FY25 FY26 Revenue PAT Gross Margin % EBITDA Margin % PAT Margin % All values in INR
Slide 6: Leadership backed by Experience
Leadership backed by Experience Ramesh Arora Ajay Arora Aditya Arora Chairman & Managing Director Director Director AREA OF FOCUS AREA OF FOCUS AREA OF FOCUS IT, Software and Legal Raw material procurement and Agreements & Proceedings Quality assurance, Quality infrastructure development control, Re
Slide 7: 4/5 units being EU-GMP approved
4/5 units being EU - GMP approved Unit 6 : Hormones is under construction, expected to commence by H2FY26 Successfully completed 20+ 01 regulatory, customer, and vendor Unit 1 : General Unit 3 : Oncology Unit 5: Biologics audits over the past two years. Proactively upgrades plant 02 practices by ben
Slide 8: Comprehensive Offerings with Advanced Manufacturing Capabilities
Comprehensive Offerings with Advanced Manufacturing Capabilities Amritsar Plant (Campus 1) Himachal plant (Campus 2) Unit 1 Unit 2 Unit 3 Unit 5 Unit 6 Unit 4 (Cephalosporins) (General) (Beta Lactam) (Oncology) (Biologics) (Hormones) Oral Solids - Tab/Capsule, Suppositories Oral Solids - Tab/Capsule
Slide 9: What sets us apart?
What sets us apart? 02 03 01 Diversified portfolio across Open and Flexible Business Model, Globally accredited, strong high entry barrier dosage Powered by in house R&D capabilities manufacturing capabilities forms.. for complex molecule development. 04 05 Wide Presence Healthy Balance sheet provid
Slide 10: 1000+ products across key therapies - Broad Dosage form capabilities
1000+ products across key therapies - Broad Dosage form capabilities Revenue Types Therapies share % Unit wise Revenue Split for FY26 Generals, Beta Lactam, Oncology & Injectables 48% Cephalosporins 60% Generals, Beta Lactam, Oncology & Tablets 38% Cephalosporins Generals, Beta Lactam, Oncology & Ca
Slide 11: Out-Licensing & Supply: Asset-Light Global Market Access
Out-Licensing & Supply : Asset - Light Global Market Access Revenue share Strategic Partnerships Filings 10% 200 175 140 75 90% 100+ clients across LATAM, MENA, Europe, Asia & Africa; FY23 FY24 FY25 FY26 expand via 700+ filings. Outlicensing and Supply CDMO Filings Tie to Moats Leverage achieved Reg
Slide 12: CDMO: End-to-End Partnership Driving High-Value Growth
CDMO: End-to-End Partnership Driving High-Value Growth..contd Metric Kwality Stats Benefits Boosting talent, attaining expertise 80 scientists Proves innovation R&D Headcount 188 (DSIR-recognized) muscle Dedicated QA and QC QA & QC team teams function 140+; 188+ 145 strength independently across eac
Slide 13: Core Research Initiatives
Applied R&D + Development Engine supporting future CDMO partnerships Core Research Initiatives 01 Biosimilars Development Building end-to-end biologics development and analytical capabilities to support future biosimilar launches and biologics CDMO engagements. Hypothesis driven innovation 02 Enhanc
Slide 14: Differentiated Capabilities
Differentiated Capabilities Lyophilized Injectables Emulsion • Solubility via Freeze - drying Long - acting Technology • Improved Stability Injectables • Fast Absorption • Sustained Drug Release • Low Globule Size • Peptide-based Injections • Low Osmolaity • Polymeric Microspheres Liposomal Pegylate
Slide 15: Export led growth strategy
Export led growth strategy Asia Europe GCC/MENA Operating in 70+ Markets RU/CIS South and Africa Middle East Central America 15
Slide 16: Working Capital Normalizing with Scale, Improving Capital Productivity
Working Capital Normalizing with Scale, Improving Capital Productivity 297 232 231 31.2% 217 208 196 200 189 161 162 22% 22.7% 114 111 19% 15% 11% Cash conversion days Inventory days payable days FY24 FY25 FY26 ROE ROCE FY23 FY24 FY25 FY26 Massive Improvement in cash conversion cycle from 297 days t
Slide 17: Low leverage and strong coverage - significant headroom for capex
SC13 Low leverage and strong coverage - significant headroom for capex 0.44 1.79 0.43 9.15 1.8 0.96 1.77 0.41 6.48 1.67 0.39 4.68 0.88 0.38 0.38 1.60 1.70 0.86 Gross Net Interest coverage Current ratio Total asset/ equity Asset turnover Debt/Equity Debt/Equity FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25
Slide 18: Slide 17 SC13 same as comment in above slide
Slide 17 SC13 same as comment in above slide Soumya Chhajed, 04/05/2026
Slide 19: Global Accreditations
Global Accrediations and many more... 18
Slide 20: Q4 & FY26 Business Updates
Q4 & FY26 Business Updates Confidential & For Limited Circulation Only
Slide 21: EPO & Biologics
EPO & Biologics On track for H1 FY27 commercialization Milestone Tracker Kwalipoietin (EPO) - Biosimilar Journey ✓ ✓ Pre-clinical Approval for conducting Phase III Regulatory Commercial Studies Clinical trials Clinical Trial Submission Launch Q2 FY26 Q3 FY26 Q1 FY27 Q2 FY27 H1 FY27 Successful result
Slide 22: Capex Plan
Capex Plan Investments today building tomorrow's revenue Capex Investment (INR Cr.) 70 Biologics Unit 5 FY26 FY27 FY28 Facility 12 - - Molecule 3 12 10 development 40 40 Clinical Trial 4 10 60 Product Development 22 FY26 FY27 FY28 19 20 18 15 15 Molecule development 5 5 5 7 BE study (General, 2 13 1
Slide 23: Updates and Way Forward
Updates and Way Forward… UNIT 3- Oncology UNIT 5 - Biologics UNIT 6 - Hormones CAPACITY EXPANSION INFRASTRUCTURE CONSTRUCTION • 2 new Lyophilizers (20 m³ each) -in • Full swing -expected completion: Capacity enhancement - Bioreactor 500 L progress Q3 2026 • Lypholizer with automatic loading • Equipm
Slide 24: Unit 6 - Hormone Facility Update
Unit 6- Hormone Facility Update Construction Update & Commissioning Roadmap Completion Tracker Key Milestones Civil Construction 90% ✓ Construction commenced Q2 FY26 Equipment Procurement 80% ✓ Equipment order placed Q3 FY26 Equipment Installation 30% ○ Major equipment installed Q1 FY27 Utilities &
Slide 25: Q4 & FY26 Financial Performance
Q4 & FY26 Financial Performance Confidential & For Limited Circulation Only
Slide 26: Performance drivers for Q4 & FY26
Performance drivers for Q4 & FY26 01 Expansion in Regulated Markets 02 Regulatory & Compliance Milestones New registrations secured across LATAM (incl. Mexico, Colombia), MENA, GCC, and EU-GMP certification received for General and Beta Lactam plants — enabling expanded select Asian markets includin
Slide 27: Solid execution reflected in Q4FY26 and FY26 performance
Solid execution reflected in Q4FY26 and FY26 performance. Revenue EBITDA and Margins (%) PAT and Margins (%) 158 39 26 116 26 14 22.0% 24.6% 12% 16% Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 EBITDA and Margins (%) PAT and Margins (%) Revenue 503 118 67 370 80 40 21.6% 24.0% 10.8% 13.4% FY25 FY26 FY2
Slide 28: Profit and Loss Statement – Q4 & FY26
Profit and Loss Statement – Q4 & FY26 Particulars Q4FY26 Q3FY26 QoQ Q4FY25 YoY FY26 FY25 YoY Revenue from operations (Net) 157.1 123.4 28% 115.6 36.2% 503.1 370.2 36% (a) Cost of materials consumed 79.7 57.1 40% 52.3 52.4% 240.8 165.4 46% (b) Purchases of stock-in-trade 6.0 2.3 174% 6.5 -3.1% 17.3 1
Slide 29: Historical Statement of Profit & Loss
Historical Statement of Profit & Loss Particulars FY23 FY24 FY25 FY26 Revenue from operations (Net) 251 307 370 503 (a) Cost of materials consumed 113 154 165 241 (b) Purchases of stock-in-trade 0 1 16 17 (c) Changes in inventories of finished goods work - in - progress and stock - in - trade -3 -1
Slide 30: Balance Sheet
Balance Sheet Particulars (In INR Cr.) FY23 FY24 FY25 FY26 Particulars (In crs) FY23 FY24 FY25 FY26 ASSETS 354 394 447 592 EQUITY & LIABILITIES 354 394 447 592 Equity Non-current assets 146 152 163 186 Share Capital 199 223 262 10 Other Equity 190 214 254 322 Property Plant & Equipment 120 139 144 1
Slide 31: Cash Flow Statement
Cash Flow Statement Particulars FY23 FY24 FY25 FY26 Cashflow from Operating Ac vi es 41.38 42.98 52.72 16.59 Cashflow from Investing Ac vi es (48.44) (26.39) (28.52) (34.90) Cashflow from Financing Ac vi es 0.99 (17.39) (14.44) 7.03 Cash and Cash Equivalents as at end of period/Year 3.07 2.26 12.02
Slide 32: Scaling to next orbit: INR 650+ Cr FY27 revenue milestone
Scaling to next orbit : INR 650+ Cr FY27 revenue milestone Action plan for the next two years Expanding to high margin Revenue Target : INR 650 Cr. Unlocking Regulated Market Upside specialty platforms Through EU-GMP Readiness EBITDA : ~INR 160 Cr. EBITDA Margin : 25% PAT: INR650 100 Cr. 4 of 5 manu
Slide 33: Thank You
THANK YOU Kwality Pharmaceuticals Ltd. Head Office Address : 6th Milestone, Majitha Road, Amritsar-143601, Punjab, India Company Contact: Ujjval Seth Ujjvalseth@kwalitypharma.com Investor Relations Contact: Go India Advisors Soumya Chhajed soumya@goindiaadvisors.com
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