SMS Pharmaceuticals Limited · NSE:SMSPHARMA
SMS Pharmaceuticals — Q2 FY27 Earnings Presentation
32 slides from SMS Pharmaceuticals's earnings presentation, Nov 4, 2026
Slide 1: Cover letter to stock exchanges
Date: 4th November, 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 Mum
Slide 2: Investor Presentation Q2FY27
Investor Presentation Q2FY27 NOVEMBER 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 • Revenue up 30% YoY, driven by strong volume growth and improved price realization • Gross margin (Incl. mfg. expenses) increased to 35%, reflecting the tangible benefits of backward integration • EBITDA margin expanded 145 bps YoY to 21%, due to operating leverage • PAT up 57% Yo
Slide 6: Q2FY27 financial highlights
Q2FY27 financial highlights REVENUE (₹ CRORE) EBITDA & EBITDA MARGIN PAT & PAT MARGIN* EPS (₹) 316 EBITDA (₹ Cr) Margin (%) PAT (₹ Cr) Margin (%) 4.26 21% 13% 242 20% 21% 20% 3.58 238 11% 40 10% 210 207 17% 68 10% 2.84 9% 2.59 25 2.23 48 23 44 40 21 41 20 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Q2FY26 Q3
Slide 7: H1FY27 financial highlights
H1FY27 financial highlights REVENUE (₹ CRORE) EBITDA & EBITDA MARGIN PAT & PAT MARGIN* EPS (₹) 6.49 EBITDA (₹ Cr) Margin (%) PAT (₹ Cr) Margin (%) 523 60 5.13 109 44 88 21% 11% 438 10% 20% H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 ₹523 crore ₹ 109 crore ₹ 60 crore ₹6.49 Revenue from op
Slide 8: Key operating metrics Q2FY27
Key operating metrics Q2FY27 REVENUE BY GEOGRAPHY (%) REVENUE BY THERAPEUTIC AREA (%) 15% 1% 4% 5% 7% 15% 15% 13% 4% 6% 10% 18% 6% 6% 6% 6% 4% 7% 5% 8% 6% 7% 5% 5% 5% 2% 6% 27% 10% 1% 36% 32% 12% 13% 10% 41% 34% 7% 12% 10% 19% 23% 18% 20% 24% 20% 25% 26% 32% 9% 29% 26% 38% 32% 27% 7% 25% 4% 21% 29%
Slide 9: Key operating metrics H1FY27
Key operating metrics H1FY27 REVENUE BY THERAPEUTIC AREA (%) REVENUE BY GEOGRAPHY (%) 3% 4% 7% 13% 14% 5% 4% 5% 6% 5% 6% 11% 3% 25% 12% 34% 20% 21% 26% 23% 28% 7% 29% 29% 8% 16% 24% 12% H1FY26 H1FY27 H1FY26 H1FY27 Anti-diabetic Anti Retro Viral (ARV) Anti-inflammatory Anti-migraine Anti-ulcer Anti-e
Slide 10: Company Overview
02 COMPANY OVERVIEW www.smspharma.com
Slide 11: 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 37 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 12: 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 1,600+ Employees 75+ Countries where we have a presence 130+ DMFs filed till date 200+ Scientists in R&D 800+ Customers www.smspharm
Slide 13: 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 14: Diversified across therapeutic areas and products to mitigate risk
Diversified across therapeutic areas and products to mitigate risk Therapeutic areas FY26 revenue share Anti-inflammatory 20% Anti Retro Viral (ARV) 28% Anti-diabetic 15% Anti-migraine 11% Anti-ulcer 5% Anti-erectile dysfunction 6% Anti-epileptic 6% Anti-anginal 5% Others 4% www.smspharma.com 13
Slide 15: 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 16: 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% 44% 44% 40% 40% 40% • Scalable manufacturing enab
Slide 17: 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* 82% 49% 47% 72% 44% 44% 66% 68% 42% 62% 40% 30% FY21 FY22 FY23 FY24
Slide 18: Manufacturing facilities enable scale and leadership position
Manufacturing facilities enable 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 g
Slide 19: 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 130+ DMFs filed till date since FY22 Filed 12 regulatory submissions in FY26 Process optimisation Focus on commercialisation 35+ process patents
Slide 20: Established, well-balanced and diversified customer portfolio
Established, well-balanced and diversified customer portfolio REVENUE BY LOCATION, FY26 REVENUE BY CUSTOMER TYPE, FY26 REVENUE BY CUSTOMER SIZE, FY26 15% 22% 28% 41% 41% 6% 31% 59% 26% 31% Europe Asia (Ex. India) North America Large pharma Mid-to-small pharma Largest Top 2-10 customers Remaining EOU
Slide 21: Long standing relationship with marquee customer base
Long standing relationship with marquee customer base www.smspharma.com 20
Slide 22: 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 23: Way Forward
03 WAY FORWARD www.smspharma.com
Slide 24: Ramp-up of high-volume product portfolio
Ramp-up of high-volume product portfolio Targeting 1.75 average net asset turnover levels over next 2-3 years Asset turnover (Times) 1.75 1.46 Now* Target * Includes Capital work-in-progress Key drivers • Anti-inflammatory: Targeting to become the #1 player in the world • Strategic partnerships: Aim
Slide 25: 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 26: Strengthening product portfolio
Strengthening product portfolio 10 Increase R&D investment to DMF, CEP and dossier increase over next 15 filings targeted in FY27 months PRODUCT PIPELINE Lab Scale Development & Commercial Validation Completed • Anti-inflammatory • Anti-diabetic • Anti-depressant Lab scale development and validation
Slide 27: 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 28: Historical Financial Performance
04 HISTORICAL FINANCIAL PERFORMANCE www.smspharma.com
Slide 29: Consolidated P&L statement
Consolidated P&L statement Particulars (₹ Cr) Q2FY27 Q2FY26 YoY Growth (%) Q1FY27 QoQ Growth (%) H1FY27 H1FY26 YoY Growth (%) 316.08 242.43 30% 206.96 53% 523.05 438.48 19% Revenue from Operations 205.24 163.92 25% 132.03 55% 337.28 293.24 15% COGS 110.84 78.51 41% 74.93 48% 185.77 145.23 28% Gross
Slide 30: Consolidated balance sheet
Consolidated balance sheet Particulars (₹ Cr) H1FY27 FY26 FY25 FY24 Particulars (₹ Cr) H1FY27 FY26 FY25 FY24 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant and Equipment Equity Share Capital 9.37 9.37 8.87 8.47 579.47 531.22 530.85 434.19 Other Equity 833.33 776.44 630.77 52
Slide 31: Consolidated cash flow statement (Abridged)
Consolidated cash flow statement (Abridged) Particulars (₹ Cr) H1FY27 FY26 FY25 FY24 Cash flow from operating activities Profit before tax 80.01 116.64 92.34 66.11 Cash generated from operations 123.54 83.32 101.54 65.52 Cash flow from operating activities 105.76 59.22 81.71 50.12 Cash flow from inv
Slide 32: Thank you
THANK YOU For further information contact: Mr. Thirumalesh Tumma SMS Pharmaceuticals Limited E: complianceofficer@smspharma.com Mr. Aditya Dutta Eqsponent E: smspharma.ir@eqsponent.com www.smspharma.com