Morepen Laboratories : Q1'FY27 Investor Presentations

About this update from Morepen Laboratories Limited

‌Building Today. Transforming Tomorrow. ‌‌‌‌ Q1'FY27 Investor Presentation Advancing Chemistry. Creating Possibilities. Discovery. Development. Delivery. 1 ‌Q1 FY27 - A Quarter of Commercial Validation Rs. 575 Cr Highest Ever Quarterly Revenue 3x EBITDA Highest Ever Quarterly EBITDA- 3x YoY Rs. 825 Cr CDMO mandate enters commercial supplies 15%+ EBITDA Blended EBITDA improves Export +111% Prioritisation of the customer mix Medical Devices Maintain strong growth Commercial validation of the Morepen 2.0 strategy. 2 ‌Financial Performance Reflects Operating Leverage (YoY) +34% Rs. 575.31 Cr Revenue +207% Rs. 87.72 Cr EBITDA +394% Rs. 56.35 Cr PAT 15%+ EBITDA Margin 31% API Growth 19% Devices Growth Rs. 58 Cr Commercial CDMO Dispatches Performance driven by operational execution. 3 ‌From Commodity APIs to Innovation-led Manufacturing Old Morepen New Addition Commodi i ty API busi i ness Innovation-led Commodi i ty pri i ci i ng CDMO Long-duration Quarterl l y vol l ati i l l i i ty Recurring Transacti i on- based busi i ness Predictable Vol l ati i l l e earni i ngs Scalable Morepen 2.0 manufacturing Long-duration customer programs earnings operating platform Transitioning from APIs to strategic manufacturing. 4 ‌The CDMO Journey Has Entered Commercial Scale‌ Development Customer Audit Validation Order Received Commercial Production Commercial Dispatched Why This Is More Than Just One Order Long-durati i on customer programme Recurri i ng revenues Hi i gher margi i ns Gl l obal l Pl l atform val l i i dati i on 5 ‌Operating Leverage Begins Rs. in Crores, except margin Revenue Q1'FY26 Q1'FY27 429.64 0 100 200 300 400 500 600 575.31 +34% EBITDA PAT Q1'FY26 Q1'FY27 0 10 20 30 40 50 60 EBITDA Margin Q1'FY26 6.65% 2.3X Q1'FY27 15.25% Q1'FY26 Q1'FY27 87.72 0 20 40 60 80 100 0 5 10 15 20 28.58 11.41 56.35 +207% +394% +111% Export Revenue Performance driven by operational execution. 6 ‌API Business Returns to Healthy Profitability‌ Core API franchise stabilising while CDMO becomes the next growth layer. 31% API Growth API Export Up 42% Healthy recovery in the base business Better product mix with customer priortisation Improved Profitability Better operating discipline and product mix Capacity Realignment Selective prioritisation. toward higher-value opportunities A stronger API base supports the transition to a higher-quality CDMO platform. 7 ‌Regulatory Track Record Global audit readiness GMP-compliant manufacturing Quality systems supporting CDMO scale-up Nil 483 Observations - 4 USFDA inspections in a row Quality credibility is a core enabler of long-term global partnerships. 8 ‌Building The Next Phase of Growth Capacity Augmentation Scaling Capacity to Meet Global Demand Global Partnerships Built for Global Pharmaceutical Partnerships Capability Scaleup Innovation & Technology Roadmap Ahead Global Compliance Responsible Manufacturing for Global Partnerships Four strategic pillars supporting Morepen's next phase of CDMO-led growth. 9 FY30 1200 KL Phase-4 Expansion Phase-3 Expansion FY29 1000 KL Q2-FY28 800 KL Phase-2 Expansion Phase-1 Expansion Q2-FY27 600 KL Q4-FY26 535 KL ‌Scaling Capacity to Meet Global Demand 10 Expanding manufacturing capacity to support larger global CDMO opportunities. Built for Global Pharmaceutical Partnerships ESG K Sustainability Global Quality K Regulatory Systems Global Supply Network Morepen Process K RKD Expertise Reliable Execution Integrated Manufacturing Trusted by global pharmaceutical companies for science, quality and reliable execution. 11 ‌Innovation & Technology Roadmap Emerging: Ol l i i gos & New Modal l i i t t i i es Speci i al l t t y API I s Di i f f f f i i cul l t t -t t o-Make Mol l ecul l es Today: Smal l l l Mol l ecul l es Process Chemi i st t ry Commerci i al l API I s & CDMO Future Direction: New Technol l ogi i es & I I nnovat t i i ons Sel l ect t i i ve, , Capabi i l l i i t t y-Led Expansi i on Next: Compl l ex Chemi i st t ry Advanced I I nt t ermedi i at t es Hi i -Pot t ency API I s Building scientific depth for long-term CDMO growth. 12 ‌Responsible Manufacturing for Global Partnerships Global Compliance: GMP systems Customer audi i ts Regul l atory di i sci i pl l i i ne Sustainable Operations: Zero Li i qui i d Di i scharge Sol l ar i i ni i ti i ati i ves Cl l eaner manufacturi i ng Responsible Supply: 90+ countri i es served Export readi i ness Rel l i i abl l e del l i i very systems Business Continuity: Resi i l l i i ent i i nfrastructure Ri i sk mi i ti i gati i on Long-term customer confi i dence Sustainability-led operations supporting long-term global growth. 13 14 ‌Medical Devices: A Scalable Healthcare Platform‌ High-growth chronic-care platform with recurring consumables revenue. Blood Glucose Meter 20 Mn installed base 500 Mn strips per annum Blood Pressure Monitor Strong brand presence + distribution reach Consumables Engine Recurring usage, better margin visibility CGM / Premium Devices Future growth and portfolio upgrade Expanding from devices to a chronic-care health platform. 15 ‌Investment Highlights‌ Commercial validation, operating leverage and multiple growth engines. Rs. 825 Cr CDMO mandate entered commercial supply Rs. 58 Cr Commercial dispatches completed Rs. 575 Cr Highest-ever quarterly revenue EBITDA EBITDA up 3x YoY; margin at 15%+ +31% API business back to healthy profitability Validated Regulatory track record supports global partnerships 1200KL Capacity expansion roadmap: 600 KL to 1200 KL +19% Medical Devices provides a second scalable growth engine A stronger, more focused Morepen platform built for long-term value creation. 16 ‌Outlook: Building the Next Phase of Growth‌ Commercial execution, capacity expansion and platform depth to drive the next phase. Near Term Commercial CDMO supplies API profitability recovery Capacity utilisation Medium Term Capacity augmentation New customer opportunities Operating leverage Long Term Innovation-led manufacturing Global partnerships Sustainable value creation Advancing Chemistry. Creating Possibilities. 17 ‌Safe Harbour Statement This presentation has been prepared by Morepen Laboratories Limited ("Morepen" or the "Company") for informational purposes only and does not constitute an offer, invitation, recommendation, or solicitation to purchase or subscribe to any securities. Certain statements contained in this presentation may be forward-looking statements, including statements relating to the Company's business strategy, growth plans, manufacturing expansion, regulatory developments, market opportunities, future financial performance, operating leverage, and industry outlook. These statements are based on current expectations, assumptions, estimates, and projections and are subject to various risks and uncertainties. Actual results may differ materially from those expressed or implied due to factors including, but not limited to, changes in market conditions, the regulatory environment, customer demand, competitive intensity, pricing pressures, supply chain dynamics, currency fluctuations, technological changes, and other risks associated with the pharmaceutical and healthcare industries. The information contained herein has not been independently verified. While reasonable care has been taken in preparing this presentation, the Company makes no representation or warranty, express or implied, as to the accuracy, completeness, or reliability of the information contained herein. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this presentation to reflect subsequent events or circumstances. This presentation should be read in conjunction with independent analysis and professional judgment. 18

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