Slide 1: Exchange filing cover letter
Date: 09th February, 2026 To, The Manager, The Manager, Corporate Filings Department, Listing Compliance Department, BSE Limited, National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai- 400 001 Mu
Slide 2: Investor Presentation Q3FY26
Investor Presentation Q3FY26 FEBRUARY 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by SMS Pharmaceuticals Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: Performance Review
01 PERFORMANCE REVIEW www.smspharma.com
Slide 5: Executive summary
Executive summary Strong quarter led by volume growth and operating leverage Revenue grew 21% YoY, on the back of strong volume growth in key APIs EBITDA margin above 20%; up by 31% YoY aided by operating leverage PAT stood at ₹23.47 crore; PAT up 29% YoY; 9M PAT up 42% YoY ₹280 crore capex programm
Slide 6: Q3FY26 financial highlights
Q3FY26 financial highlights REVENUE (₹ CRORE) EBITDA & EBITDA MARGIN PAT & PAT MARGIN EPS (₹) 2.84 EBITDA (₹ Cr) Margin (%) PAT (₹ Cr) Margin (%) 2.59 248 242 11% 2.43 11% 2.31 21% 10% 10% 210 20% 20% 20% 196 173 16% 8% 1.69 48 44 25 23 41 39 20 21 35 18 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q3FY25 Q4F
Slide 7: Key operating metrics Q3FY26
Key operating metrics Q3FY26 REVENUE BY THERAPEUTIC AREA (%) REVENUE BY GEOGRAPHY-WISE (%) 15% 4% 6% 2% 3% 4% 5% 2% 4% 4% 12% 13% 13% 12% 5% 4% 6% 4% 1% 6% 6% 4% 7% 5% 7% 7% 9% 9% 5% 22% 17% 5% 24% 23% 2% 10% 27% 29% 27% 10% 13% 15% 19% 19% 18% 18% 28% 20% 25% 24% 26% 38% 7% 29% 23% 26% 5% 33% 7% 9%
Slide 8: Company Overview
02 COMPANY OVERVIEW www.smspharma.com
Slide 9: SMS Pharma at a glance
SMS Pharma at a glance 1 Diversified API player with a global presence Established in 2 Globally compliant manufacturing facilities 1989 36 years in API manufacturing 3 Global and domestic leadership in key products and development SMS’s business model Is 4 Vertically integrated across product portf
Slide 10: Key facts
Key facts #1 Global and Domestic leadership in 55+ APIs across 14 diverse therapeutic 88% Revenue from Regulated markets key products segments. 3,120 KL Reactor volume 1,500+ Employees 75+ Countries served 120+ DMFs filed till date 100+ Scientists in R&D 800+ Customers www.smspharma.com 9
Slide 11: Ready for the next stage of growth
Ready for the next stage of growth… 1989-2011 2011-2017 2017-2022 2022-2025 • Became the world’s largest • Started a greenfield project • Demerger of SMS • Launched Asia’s largest manufacturer of Ranitidine API in Vizag to build an API facility in more than 100 lifesciences to unlock operational eff
Slide 12: Diversified across therapeutic areas and products to mitigate risk
Diversified across therapeutic areas and products to mitigate risk Therapeutic areas Category 9MFY26 revenue share Anti-diabetic High-volume 19% Anti Retro Viral (ARV) High-volume 28% Anti-inflammatory High-value 20% Anti-migraine High-value 11% Anti-ulcer High-volume 4% Anti-erectile dysfunction Hi
Slide 13: State-of-the-art, accredited manufacturing facilities
State-of-the-art, accredited manufacturing facilities HYDERABAD VIZAG Manufacturing capacity: 120 KL for niche small-volume Manufacturing capacity: 3,000 KL for niche large-volume molecules molecules Regulatory approvals: USFDA, EUGMP, KFDA, CDSCO, PMDA Regulatory approvals: USFDA, KFDA, CDSCO, PMDA
Slide 14: Sustained gross margin expansion across multiple cycles
Sustained gross margin expansion across multiple cycles Gross margin expansion in a competitive generics landscape GROS S MARGIN ( E X. MANUFACTURING E XP E NS E S ) ( % ) Enabled by • High-value product mix supports better realisation 47% per MT 44% 43% 40% 40% 40% • Scalable manufacturing enables
Slide 15: High-value portfolio ensures high quality of cash flows
High-value portfolio ensures high quality of cash flows Stable and majority share of high-value product portfolio OCF conversion on par with leading API companies (10 Year avg) SHARE OF HIGH-VALUE PRODUCTS (%) OCF CONVERSION RATIO* 45% 82% 44% 44% 42% 40% 72% 66% 68% 62% 30% FY21 FY22 FY23 FY24 FY25
Slide 16: Manufacturing facilities enables scale and leadership position
Manufacturing facilities enables scale and leadership position • Rapid scale-up of APIs enabled by decades of in-house technical expertise • Strong first-to-market capabilities in key therapeutic areas • Operating leverage drives cost efficiency, enabling competitive pricing and faster market share
Slide 17: Strategic R&D focus enables margin protection
Strategic R&D focus enables margin protection Stable gross margins despite price erosion New product development Large technical team Added 20 new products 120+ DMFs filed till date since FY22 Filed 10+ regulatory submissions in 9MFY26 Process optimisation Focus on commercialisation 35+ process pate
Slide 18: Established, well balanced and diversified customer portfolio
Established, well balanced and diversified customer portfolio REVENUE BY LOCATION, Q3FY26 REVENUE BY CUSTOMER TYPE, Q3FY26 REVENUE BY CUSTOMER SIZE, Q3FY26 15% 10% 5% 32% 32% 38% 29% 68% 41% 30% Europe Asia (Ex. India) North America Large pharma Mid-to-small pharma Largest Top 2-10 customers Remaini
Slide 19: Long standing relationship with marquee customer base
Long standing relationship with marquee customer base www.smspharma.com 18
Slide 20: Experienced BoD to deliver on strategy
Experienced BoD to deliver on strategy Shri. Ramesh Babu Potluri Shri. Vamsi Krishna Potluri Shri. Shravan Kudravallii Shri. Sarvepalli Srinivas Chairman & Managing Director Executive Director Independent Director Director Shri. Dr. Suresh Kumar Shri. Sunkara Venkata Satya Smt. Shanti Sree Bolleni S
Slide 21: Way Forward
03 WAY FORWARD www.smspharma.com
Slide 22: Ramp-up of high-volume product portfolio
Ramp-up of high-volume product portfolio Targeting 1.75 average net asset turnover over the next 2-3 years Asset turnover (Times) 1.75 1.55 Now* Target * Annualised figure based on H1FY26 numbers Key drivers • Anti-inflammatory: Aspiring to become the global market leader • Strategic partnerships: A
Slide 23: Backward integration to improve quality of earnings
Backward integration to improve quality of earnings Low price risk Culture of learning by Cost-competitive Protection against doing structure market fluctuations Strengthens core R&D Improving margins capabilities & reliability Several products where we have backward Ability to backward integrate fo
Slide 24: Strengthening product portfolio 2x
Strengthening product portfolio 20 2x DMF, CEP and dossier R&D investment to double filings targeted over next over next 15 months two years PRODUCT PIPELINE Lab Scale Development & Commercial Validation Completed • Anti-inflammatory • Anti-diabetic • Anti-depressant Lab scale development and valida
Slide 25: Launch of major Capex projects to support strategy
Launch of major Capex projects to support strategy Capex project mix Capex oriented towards: • Capacity expansion for existing APIs • Building capacities for new 11% API pipeline • Land acquisition in process 280 crore ₹ for a greenfield project Strategic focus: Capex spend to be completed by FY27 •
Slide 26: Historical Financial Performance
04 HISTORICAL FINANCIAL PERFORMANCE www.smspharma.com
Slide 27: Consolidated P&L statement
Consolidated P&L statement Particulars (₹ Cr) Q3FY26 Q3FY25 YoY% Q2FY26 QoQ% 9MFY26 9MFY25 YoY% 210.45 173.35 21% 242.43 -13% 648.92 534.55 21% Revenue from Operations 135.56 106.24 28% 165.55 -18% 431.81 350.09 23% COGS 74.89 67.11 12% 76.88 -3% 217.11 184.46 18% Gross Profit 36% 39% -313bps 32% 38
Slide 28: Thank You
THANK YOU For further information contact: Mr. Thirumalesh Tumma SMS Pharmaceuticals Limited E: complianceofficer@smspharma.com Mr. Aditya Dutta Eqsponent partners E: smspharma.ir@eqsponent.com www.smspharma.com