Windlas Biotech Ltd. · NSE:WINDLAS
Windlas Biotech — Q1 FY26 Earnings Presentation
35 slides from Windlas Biotech's earnings presentation, Aug 12, 2025
Slide 1: Windlas Biotech Limited stock exchange filing 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 – August 2025
Windlas Biotech Limited Investor Presentation – August 2025
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Windlas Biotech 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 secu
Slide 4: Managing Director’s Message
Managing Director’s Message “This quarter reinforces our strong growth trajectory, marking the tenth successive quarter of record revenue performance. The Company reported an earnings per share (EPS) of Rs. 8.4 for Q1 FY26, marking a 30% YoY increase. In line with its commitment to shareholder value
Slide 5: CEO & CFO's Message
CEO & CFO's Message “On the back of performance momentum seen consecutively across last ten quarters, we delivered another quarter of consistent performance with revenue of Rs. 210 Cr., EBITDA Rs 27 Cr. and PAT Rs 18 Cr. The company recorded 20% YoY growth in revenue, 27% in EBITDA and 31% in PAT. T
Slide 6: Financial Performance Highlights
Financial Performance Highlights 5
Slide 7: Key Highlights: Q1FY26
Key Highlights: Q1FY26 10th successive quarter Revenue Rs 210 Cr. YoY EBITDA Rs 27 Cr. 01 of record revenue 02 growth 20% 03 YoY growth 27% PBT Rs 23 Cr. PAT Rs 18 Cr. EPS stood at Rs. 8.4 04 YoY growth 27% 05 YoY growth 31% 06 YoY growth 30% 6
Slide 8: Consolidated Quarterly Performance Highlights
Quarterly Performance Highlights Rs. Crores Revenue EBITDA & EBITDA Margin (%) 11.9% 13.4% 11.3% 11.2% 12.6% +20% 210.1 Consolidated 175.2 10th successive +27% 26.5 quarter of record 20.9 revenue Rs 210 Cr Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Generic Formulations Trade Generics & Exports Vertical Revenue
Slide 9: Vertical Break-up
Vertical Break-up Q4FY25 Q1FY25 Q1FY26 22% 21% 20% 73% 78% 76% 5% 2% 3% CDMO CDMO CDMO Trade Generics & OTC Trade Generics & OTC Trade Generics & OTC Exports Exports Exports 8
Slide 10: Consolidated Profit & Loss Statement – Q1 FY26
Consolidated Profit & Loss Statement – Q1 FY26 Particulars (Rs. Crores) Q1FY26 Q1FY25 YoY% Net Revenue from Operations 210.1 175.2 19.9% COGS 129.7 109.4 Gross Profit 80.4 65.7 22.2% Gross Margin (%) 38.3% 37.5% 71bps Employee Expenses 32.2 27.9 Other Expenses 21.6 17.0 EBITDA 26.5 20.9 27.0% EBITDA
Slide 11: Rewarding Shareholders
Rewarding Shareholders • The earnings per share (EPS) stood at Rs. 8.43 in Q1FY26 compared to Rs. 6.47 in Q1FY25 reflecting a growth of 31% YoY. • Dividend: • In line with our policy, Company paid a dividend of Rs 12.2 Cr (Rs 5.8 per share) to its shareholders for FY25 in August 2025. • According to
Slide 12: Company Overview
Company Overview 11
Slide 13: Windlas Biotech at Glance
Windlas Biotech at Glance Scalability Durability Profitability 5 year CAGR :- Well aligned workforce with ESOPs and Revenue FY25 Rs 759.9 crores • Revenue – 18% variable pay EBITDA stood at INR 94.1 crores for FY25 • EBITDA – 23% Digitalized Planning and Quality with 12.4% EBITDA margin •
Slide 14: Windlas Biotech’s Presence in Pharma Value Chain
Windlas Biotech’s Presence in Pharma Value Chain Innovator Value Chain Patent Expiry Clinical Bulk Drugs Formulation Research Marketing trials (I-III) Manufacturing Manufacturing Value Chain # # Generics Formulation API dev & dev & Clinical (III+ ) Packaging Marketing Manufacturing Manufacturing Gen
Slide 15: Journey So Far…
Journey So Far… Commenced operations at Commenced operations at Received first USFDA inspection clearance • Revenues crossed ₹300 Crores for the FY 2016-17 Dehradun Plant – I and initiated Dehradun Plant – IV Revenues crossed ₹200 Crores for the FY • Launched first product in the United Stat
Slide 16: Strong Board of Directors…
Strong Board of Directors… 24+ years of experience in the Ex Chairman of Confederation of Indian pharmaceutical industry, he has a Industries , Uttarakhand State Council, Bachelor’s degree in Law from the Established Windlas Biotech in 2001. Hemwati Led Windlas Biotech as MD till 2020 Nand
Slide 17: …Coupled with Proficient Management Team
…Coupled with Proficient Management Team Ms. Komal Gupta, CEO & CFO Mr. Ananta Narayan Panda, Company Secretary • Experience – 20+ Years; and Compliance Officer • Educational Qualification - CA, CS & CWA • Experience - 24+ Years; • Working with Windlas since 2015 • Previously worked with GMR Airport
Slide 18: Vertical Overview
Vertical Overview Generic Formulations Trade Generics Exports CDMO & Institutional Generic Formulations CDMO vertical focused on This vertical consists of Trade Generics Export vertical is engaged in identifying providing products & services across- a diverse range which includes products sold
Slide 19: Generic Formulations CDMO Business Highlights
Generic Formulations CDMO Business Highlights No. Of Customers 757 No. of Brand Catered (Brand ownership with customers) 5,582 Products Fixed dosage, Fixed dosage plus modified release, Customized generics, chewable/ dispersible and plain oral solids Revenue Mix (% of FY25) 73% Amongst the leading D
Slide 20: Well Diversified Product Portfolio
Well Diversified Product Portfolio Windlas provides Generic Formulations CDMO products & services ranging from product discovery, product development, licensing and commercial manufacturing of complex generic products in compliance with current GMP Company’s product portfolio predominantly overlaps
Slide 21: Large Marquee Customer Base
Large Marquee Customer Base Streamlined Client Acquisition Process Added New Customers at a rapid pace 757 Lead Proposal Contract Client 583 Negotiation +40% Identification Creation Winning Management 441 285 204 Key Factors that lead to Expansion of Customer base 143 Audits by several MNC & Dom
Slide 22: De-Risking the Customer Concentration
De-Risking the Customer Concentration Long-term nature of the relationships help in pre-plan the Capex and eventually help in achieving sustainable growth and profitability Long-term Relationships Ease is Increased Strengthened Competitive cost with Pre-Planning Economies of Purchasing Power structu
Slide 23: Domestic Trade Generics & Institutional Business Overview
Domestic Trade Generics & Institutional Business Overview Brand Ownership is with Windlas Company’s Brand Names Products Focus on Respiratory, Anti-diabetic, Gastroentology & other chronic + sub chronic TA’s Revenue Mix (% of FY25) 23% No. of Brands 400 22
Slide 24: Leveraging Trade Generics & Institutional Market Opportunity
Leveraging Trade Generics & Institutional Market Opportunity Highlights Key Drivers Fastest Growing SBV in the last three years chart INR Crores Rs. 172 Crores Trade Generics & Institutional Revenue 172 Low costs compared to branded Trade Generics & Institutional SBV generics revenue (FY25) +42% 122
Slide 25: Export Business Overview
Export Business Overview No. Of Customers Focused on Emerging & Semi-Regulated Markets Brand Used Own Brands and End Customer Brands Products Exported 80 Products during FY25 which includes Generic Medicines & Health Supplements Revenue Mix: 4% of FY25 Revenue from Operations Exports SBV: INR of 33
Slide 26: Robust R&D Capabilities
Robust R&D Capabilities Robust R&D capabilities help in Customize and Market Complex; Generic Products to Customers and differentiate from Competition Consistent in R&D Expenditure Robust Growth in Complex Generics R&D INR Crores Key Highlights R&D Expenditure No. of Variations in Complex Generics F
Slide 27: Competencies in Manufacturing Facilities
Competencies in Manufacturing Facilities Efficiency & Effectiveness in Regulatory & Quality Compliance act as solid Entry Barriers Dehradun Plant 1 commenced Dehradun Plant 2 commenced Dehradun Plant 3 commenced Dehradun Plant 4 commenced Dehradun Plant 5 commenced operations in 2001 operations in 2
Slide 28: Strategies & Way Forward…
Strategies & Way Forward… Strategic Investments/ Acquisitions • Leading in Generic Formulations CDMO status benefits the company from the Industry consolidation trend in an already highly fragmented market with few organized and large unorganized players Injectables • Commissioned injectable facilit
Slide 29: Historical Financial Snapshot
Historical Financial Snapshot 28
Slide 30: Financial Snapshot
Financial Snapshot Consolidated Revenue (Rs. Crores) EBITDA (Rs. Crores) PAT (Rs. Crores) 760 61 58 +18% 94 +30% 631 +23% 78 513 43 466 38 428 60 55 52 329 29 34 16 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21* FY22 FY23 FY24 FY25** EBITDA (In %) PAT (In %) EPS 12.7% 9.2% 12
Slide 31: Financial Snapshot
Financial Snapshot Consolidated Asset Turnover Ratio Net Worth (Rs. Crores) Net Debt to Equity (x) 4.9 4.8 4.4 0.0 506 486 0.0 3.8 450 0.0 3.5 3.4 395 402 3.2 FY20 FY21 FY22 FY23 FY24 FY25 210 199 -0.1 -0.1 -0.3 FY20 FY21 FY22 FY23 FY24 FY25 FY25* FY20 FY21 FY22 FY23 FY24 FY25 FY25* ROCE (In %) ROE
Slide 32: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Consolidated Particulars (Rs. Crores) FY25 FY24 FY23 FY22 FY21 FY20 Net Revenue from Operations 759.9 631.0 513.1 465.9 427.6 328.9 COGS 471.9 396.2 325.4 302.8 274.4 211.6 Gross Profit 288.0 234.8 187.6 163.1 153.2 117.3 Gross Margin (%) 37.9% 37.2% 36.6% 35.0%
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Assets (Rs. Crores) FY25 FY24 FY23 FY22 FY21 FY20 Equities & Liabilities (Rs. Crores) FY25 FY24 FY23 FY22 FY21 FY20 Non Current assets Equity Property, Plant and Equipment 195.5 169.5 102.6 88.4 92.5 66.1 Capital work in progress 3.2 5.7 13.8 7.6 0.0 0.0 Equit
Slide 34: Consolidated Cash Flow
Consolidated Cash Flow Consolidated Particulars (Rs. Crores) FY25 FY24 FY23 FY22 FY21 FY20 Net Profit before Tax and Extraordinary items 79.8 77.1 57.0 45.6 21.7 24.7 Adjustments for: Non Cash Items / Other 18.4 6.6 7.3 10.0 36.3 17.3 Investment or Financial Items Operating profit before working cap
Slide 35: Contact Us
Contact Us Company: Investor Relations Advisor: CIN: 74899UR2001PLC033407 CIN: U74140MH2010PTC204285 Ms. Komal Gupta Mr. Parin Narichania / Ms. Drashti Shah Email: komal@windlasbiotech.com E: parin.n@sgapl.net / drashti.shah@sgapl.net Contact no.: +91 124 2821034 T: +91 9930025733 / +91 8767224443 w