Interim report
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October 29, 2026 To, Dy. General Manager Department of Corporate Services, BSE Ltd., P. J. Towers, Dalal Street, Fort, Mumbai - 400 001 Ref: Scrip Code: 543322 Dear Sirs, ¥A ALIVUS L IF E S CIE N CES Evolve every day To, The Manager - Listing, National Stock Exchange of India Ltd., Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 Ref: Scrip Name: ALIVUS Sub: Unaudited Financial Results for the Second Quarter and Half Year ended September 30,2026 Pursuant to Regulations 30 and 33 of the SEBI (LODR), 2015, we wish to inform you that the Board at its meeting held today approved the Unaudited Financial Results for the Second Quarter and Half Year ended September 30, 2026. The said meeting of the Board commenced at 5.10 p.m. and concluded at 6.15 p.m. The copy of the said Results and Limited Review Report of the Auditor is enclosed herewith. These are also being made available on the website of the Company at www.alivus.com. You are requested to take the same on record. Thanking You. Yours faithfully, For Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) Rual~ Company Secretary & Compliance Officer Encl.: As above Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) Corporate Office Technopolis Know ledge Park, A Wing, 4th Floor, Office No 401 to 407 Hanuman Nagar, Mahakali Caves Road, Andheri East, Mumbai 400 093 Maharashtra, India Registered Office Plot No 170-172, Chandramouli Industrial Estate Mohol Bazarpeth, Solapur 413 213, India T: +91 22 6829 7979 I CIN: L74900PN2011PLC139963 I E: complianceofficer@alivus.com I W: www.al ivus.com
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Sr. No. I II Ill IV V VI VII VIII IX X XI XII ¥A. ALIVUS LIFE SC I ENCES Evolve every day STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2026 (~ in Million, unless otherwise stated) Quarter ended Half Year Ended Year ended Particulars 30 Sep'26 30 Jun'26 30 Sep'25 30 Sep'26 30 Sep'25 31 Mar'26 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Income Revenue from operations 6,819.87 6,404 .14 5,879.80 13,224.01 11,898.26 25,518.32 Other income 199.17 224.01 147.20 423.18 237.05 604.11 Total income 7,019.04 6,628 .15 6,027.00 13,647.19 12,135.31 26,122 .43 Expenses Cost of materials consumed 2,992.48 2,531.46 2,889.61 5,523.94 5,579.36 10,630.05 Changes in inventories of finished goods (563.93) 18.98 (400.42) (544.95) (386.32) 35.63 and work-in-progress Employee benefits expense 1, 696.12 682.45 664.00 1,378.57 1,279.77 2,724.69 Finance costs 13.06 13.07 13.18 26.13 25.69 53.72 Depreciation and amortisation expense 218.24 205.85 184.35 424.09 354.99 753.57 Other expenses 1,043.33 1,054.11 934.91 2,097.44 1,910.64 4,155.11 Total expenses 4,399.30 4,505.92 4,285.63 8,905.22 8,764.13 18,352.77 Profit before exceptional items and 2,619.74 2,122.23 1,741.37 4,741.97 3,371.18 7,769.66 tax (1-11) Exceptional items (refer note 6) Statutory impact of new labour codes - - - - - 256.57 Profit before tax (Ill-IV) 2,619.74 2,122 .23 1,741.37 4,741.97 3,371.18 7,513.09 Tax expenses Current tax 605.81 502.74 399.51 1,108.55 788.87 1,838.92 Deferred tax 46.48 18.73 41.60 65.21 66.70 29.34 Total tax expenses 652.29 521.47 441.11 1,173.76 855.57 1,868.26 Net profit for the period / year (V-VI) 1,967.45 1,600.76 1,300.26 3,568.21 2,515.61 5,644.83 Other comprehensive income Items that will not be reclassified to profit or loss (a) Re-measurement of the post- 12.00 4.12 3.79 16.12 {0.21) 16.47 employment benefit obligation {b) Income tax relating to the above (3.02) (1.04) (0.91) (4.06) 0.05 (4.23) Total other comprehensive income/ 8.98 3.08 2.88 12.06 (0.16) 12.24 (loss), after tax Total comprehensive income for the 1,976 .43 1,603.84 1,303.14 3,580.27 2,515.45 5,657.07 period / year (Vll+VIII) Paid up equity share capital, equity 245.54 245.48 245.36 245.54 245.36 245.47 shares of { 2/- each Other equity excluding revaluation 33,075.85 reserve Earnings per equity share (Face value of~ 2/- each) (not annualised except for the year ended 3i51 March) (a) Basic (in { ) - 16.02 13.04 10.60 29.06 20.51 45.99 (b) Diluted (in {) ~\'\r,.ND/0~ 15.98 13.01 10.58 28.99 20.46 _ 45.90 AIIVUS Lite !>Clences LI m ltec ~~!)l'!erly Gfa;im,~ Life Sciences Limited) A ..... s CI E ~ -..,f \y ~"' C' ~ Corporate Office ,l ~ / . eAI ) .., i Registered Office J :, !Ut,\ * -, Technopolis Knowledge Park, A Win ~tt F~oor, 0~ o 401 to 407 Plot No 170-172, Chandramouli Industrial I~ ) Hanuman Nagar, Mahakali Caves Roa ~eri Eas!;r umbai 400 093 Mohol Bazarpeth, Solapur 413 213, India ~?7 • ?-.,, --- ~~ '/ Maharashtra, India fleo Acco )1,, T: +9122 6829 7979 I CIN: L74900PN2011PLC139963 I E: complianceofficer@alivus.com I W:www.a livus.com .....:_~
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~ ALIVUS LIFE SCIENCES Evolve every day UNAUDITED BALANCE SHEET AS AT 301H SEPTEMBER 2026 Particulars ASSETS Non-current assets Property, plant and equipment Capital work-in-progress Intangible assets Intangible assets under development Financial assets (i) Investments (ii) Other financial assets Other non-current assets Total non-current assets Current assets Inventories Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balance other than cash and cash equivalents (iv) Investments (v) Others financial assets Other current assets Total current assets Total assets EQUITY AND LIABILITIES Equity Equity share capital Other equity Total equity Liabilities Non-current liabilities Financial liabilities (i) Lease liabilities Provisions Deferred tax liabilities (net) Total non-current liabilities Current Liabilities Financial liabilities (i) Lease liabilities (ii) Trade Payables: (a) Total outstanding dues of micro & small Enterprises (b) Total outstanding dues of other than micro & small enterprises (iii) Other financial liabilities Other current liabilities Provisions Income tax liabilities (net) Total current liabilities Total liabilities Total equity and liabilities Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) Corporate Office Technopolis Knowledge Park, A Wing, 4th Floor, Office No 401 to 407 Hanuman Nagar, Mahakali Caves Road, Andheri East, Mumbai 400 093 Maharashtra, India (~ in Million, unless otherwise stated) As at As at 30th September 2026 31'' March 2026 (Unaudited) 10,105.11 4,076.24 291.70 70.40 0.77 87.80 138.86 14,770.88 7,827.66 9,881.87 254.35 1.46 9,861.50 14.50 807.14 28,648.48 43,419.36 245.54 36,067.32 36,312.86 444.70 377.63 647.14 1,469.47 84.30 231.12 4,042.07 590.23 201.07 197.96 290.28 5,637.03 7,106.50 43,419.36 Registered Office Plot No 170-172, Chandramouli Industrial Estate Mohol Bazarpeth, Solapur 413 213, India (Audited) 10,179.73 2,734 .04 195.78 103.48 0.77 67.16 54.41 13,335.37 6,919.32 10,729.64 19.82 1.50 7,803.79 322.92 696.61 26,493.60 39,828.97 245.47 33,075.85 33,321.32 487.94 361.48 577.88 1,427.30 79.77 93.80 3,629.87 742.87 170.35 299.11 64.58 5,080.35 6,507 .65 39,828.97 T: +91 22 6829 7979 I CIN: L74900PN2011PLC139963 I E: complianceofficer@alivus.com I W:www.alivus.com
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6/A ALIVUS LIFE SCIENCES Evolve every day UNAUDITED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2026 Particulars A. CASH FLOW FROM OPERATING ACTIVITIES Profit before tax Adjustments for: Loss/ (gain) on sale/ discard of property, plant and equipment (net) Depreciation and amortisation expense Unrealised foreign exchange (gain)/ loss (net) Provision for gratuity and compensated absence Write-down of inventories Provision for inventory Fair value gain on financial instruments at FVTPL Net gain in sale of current investment carried at FVTPL Interest income Finance costs Operating profit before working capital changes Adjustments for working capital changes: (Increase)/ decrease in trade receivables (Increase)/ decrease in other assets (Increase)/ decrease in inventories Increase / (decrease) in trade and other payables Cash generated from operations Income taxes paid (net of refunds) Net cash generated from operating activities B. CASH FLOW FROM INVESTING ACTIVITIES Purchase of property, plant and equipment and intangible assets (including CWIP, creditors for capital goods and capital advances) (net) Investment in fixed deposit/ mutual fund Redemption of mutual funds Interest received Net cash used in investing activities C. CASH FLOW FROM FINANCING ACTIVITIES ~ in Million, unless otherwise stated Half Year Ended Half Year Ended 30th Se '26 30th Sep'25 4,741.97 424.09 46.63 (18.82) 26.96 50.00 (167.72) (69.99) (6.46) 26.13 5,052.79 769.80 177.25 (985.30) 465.22 5,479.76 (882.85) 4,596.91 (1,895.28) (2,689.99) 870.00 6.46 (3,708.81) 3,371.18 (2.17) 354.99 (57.51) 39.20 143.17 20.00 (127.85) (32.62) (5.78) 25.69 3,728.30 (309.35) 445.43 (648.81) 108.48 3,324.05 (716.76) 2,607.29 (1,129.85) (2,432.66) 1,033.04 5.78 (2,523.69) Proceeds from exercise of employee stock options 25.13 77.82 Dividend paid (613.86) (613.42) Interest Paid (1.30) (0.55) Principal repayment of lease liabilities (38.71) (43.47) Interest payment of lease liabilities (24.83) (25.14) ---------+---- ---'--- Net cash used in financing activities (653.57) (604.76) ----- --'-----'--+-- -----'---- -'----- Net increase I (decrease) in cash and cash equivalents 234.53 (521.16) Opening balance of cash and cash equivalents 19.82 710.62 t-----------+--- --- -- C Io sing balance of cash and ca~ -,~ ts* 254.35 189.46 *Cash and cash equivalents include balances pifli banm urrent and deposit accounts and cash on hand. See accompanying notes to the Financial R~sults _ y:o ( MUl,kAl * Alivus Life Sciences Limited (formet{Y Glenmark ciences Limited) ,\. .,,, $' Corporate Office "r,,.,,,~--- 0,::,~ •Ee ~(:C. Technopolis Knowledge Park, A Wing, 4th Floor; &m - o 401 to 407 Hanuman Nagar, Mahakali Caves Road, Andheri East, Mumbai 400 093 Maharashtra, India Registered Office Plot No 170-172, Chandramouli Ind Moho! Bazarpeth, Solapur 413 213, I T: +91 22 6829 7979 I CIN: L74900PN2011PLC139963 I E: complianceofficer@alivus.com I W: www.alivus.com
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¥A ALIVUS LIFE SCIENCES Evolve every day Notes: 1. The above financial results have been prepared in accordance with Indian Accounting Standards ("Ind AS") prescribed under section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India, read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) including relevant circulars issued from time to time. 2. The above financial results were reviewed and recommended by the Audit Committee and thereafter approved and taken on record by the Board of Directors at their meeting held on October 29, 2026. The results for the quarter and half year ended September 30, 2026 have been subjected to limited review by the statutory auditors of the Company, who have expressed an unmodified review conclusion on the said results. 3. The Company has identified only one segment i.e. Active Pharmaceutical Ingredient (API) as reporting segment based on the information reviewed by Chief Operating Decision Maker (CODM). 4. As at September 30, 2026, pursuant to Employee Stock Option Plan 2021, 510,531 options were outstanding, which upon exercise are convertible into equivalent number of equity shares. 5. The paid-up equity share capital stands increased to Rs. 245.54 million (122,771,448 equity shares of face value Rs. 2 each) upon allotment of 32,000 equity shares of Rs. 2 each pursuant to "Employee Stock Option Scheme, 2021" during the quarter ended September 30, 2026. 6. Exceptional items for the year ended March 31, 2026 includes the incremental effect on application of new labour codes comprising gratuity amounting to Rs. 170.02 million and compensated absences amounting to Rs. 86.55 million, recognised as past service cost. 7. The Company incorporated Alivus Life Sciences Do Brasil Ltda., a wholly owned subsidiary, in Sao Paulo, Brazil, on September 15, 2026. As at September 30, 2026, no investment has been made by the Company in the subsidiary, and the subsidiary has not commenced operations or undertaken any transactions. Accordingly, there were no financial transactions or balances of the subsidiary for the period requiring consolidation. In view of the above, the financial results for the quarter and half year ended September 30, 2026 have been presented on a standalone basis. For Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) Yasir Rawjee Managing Director & CEO DIN: 01965174 Mumbai, October 29, 2026 Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) Corporate Office Technopolis Knowledge Park, A Wing, 4th Floor, Office No 401 to 407 Hanuman Nagar, Mahakali Caves Road, Andheri East, Mumbai 400 093 Maharashtra, India Registered Office Plot No 170-172, Chandramouli Industrial Estate Mohol Bazarpeth, Solapur 413 213, India T: +91 22 6829 7979 I CIN: L74900PN2011PLC139963 I E: complianceofficer@alivus.com I W: www.alivus.com
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Walker Chandiok&..Co LLP Walker Chandlok & Co LLP 42nd Floor, Building Commerz Ill, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (East), Mumbai-400063 T +91 22 6626 2699 Independent Auditor's Review Report on Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) 1. We have reviewed the accompanying statement of unaudited financial results ('the Statement') of Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) ('the Company') for the quarter ended 30 September 2026 and the year to date results for the period 1 April 2026 to 30 September 2026, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'). 2. The Statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act. 2013 ('the Act'}, and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Oll<Olft,,,,.,._.l!o"9W'>.81>Jbln""1l . ~ .a.mai .0......,._0.. .Guui,om.G<t..iul.H)<ler>Nd.'°""'•·Ko<ti.l(ola,.,,..,_ h'tw Drltll. t<ioi:il and Pi.m Wi1IA.-r Oii1ndici( &. Co LlP it rtClstertd with 11.M•t•d liibilil')' with kf('n1if1UU!M I\Ufflbet AAC·2Ga5 ,ind~' IU re1lnued office i1t l -41, Cotin~u,1l\t Circ1u. Outer Grete. Ne.., Oell'li.110001,lridii
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Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) Independent Auditor's Review Report on Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as a_m_e_n_d_ed~>~ ---- 4. Based on our rev·ew conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requ·rements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Walker Chandlok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 Yashwant M. Jain Partner Membership No,: 118782 UDIN: 26118782GOPDRO5867 Place: Mumbai Date: 29 October 2026 Olko,011-. 8en!PM\'. IIO,...,sw11,CllandigMl,.O.in>i. Oolvodol\.Go,, Gwgram. Grt-•.H~bid. Mort. Kocli. Kob'~. - Ntl'tOeh,N"Qidaff PiN W,1llc.er thandwlkl Co LLP i, r~muNwuhitim.iled lia~ity with kkAliliHhon number MC-20lS al'ld h.i 11, rt&lntrtd otoce,.at L-411, CoM11;1ht Cif<us. OJ1e, c1rc·e. New Otltli, 110001,tndi->