Interim report
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To, The Manager, Department of Corporate Services, SSE Limited P. J. Towers, Dalal Street, Fort, Mumbai - 400 001 Scrip Code: 533573 Dear Sir/ Madam, Date: 5th February, 2026 To, The Manager, Listing Department, National Stock Exchange of India Ltd. 'Exchange Plaza', Sandra Kurla Complex, Sandra (E), Mumbai - 400 051 NSE Symbol: APLL TD Sub: Outcome of Board Meeting With reference to the captioned subject, the exchanges are hereby informed that the Board of Directors of Alembic Pharmaceuticals Limited at its meeting held today has inter-alia approved the Unaudited Financial Results for the quarter and nine months ended 31st December, 2025. We enclose herewith the following: i) Consolidated Unaudited Financial Results for the quarter and nine months ended 31st December, 2025. ii) Standalone Unaudited Financial Results for the quarter and nine months ended 31st December, 2025. iii) Limited Review Report by Statutory Auditors on the Consolidated and Standalone Unaudited Financial Results. Based on the recommendation of Nomination and Remuneration Committee, the Board of Directors of the Company at its meeting held today has appointed Mr. Rajkumar Baheti (DIN: 00332079) as Non-Executive Non-Independent Director, liable to retire by rotation subject to the approval of the members by a way of ordinary resolution proposed to be passed through Postal Ballot. His appointment will be effective from 1st April, 2026 upon completing his tenure as a Executive Director in the Company till 31st March, 2026. ALEMBIC PHARMACEUTICALS LIMITED REGO. OFFICE: ALEMBIC ROAD, VADODARA- 390 003. •T EL: (0265) 2280550, 2280880 Website : www.alembicpharmaceuticals.com •E-mail: alembic@alembic.co.in • CIN: L24230GJ2010PLC061123
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We hereby declare that Mr. Rajkumar Baheti is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority. The details as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. H0 /49/14/14(7)2025-CFD-POD2/l/3762/2026 dated 3Q1h January, 2026 is attached herewith as "Annexure-A". We hereby declare that Mr. Rajkumar Baheti is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority. The time of commencement of the Board Meeting was 11 :30 a.m. and the time of conclusion was 1 :55 p.m. We request you to kindly take the same on record. Thanking you, Yours faithfully, For Alembic Pharmaceuticals Limited ~ araf Company Secretary Encl.: A/a. ALEMBIC PHARMACEUTICALS LIMITED REGD. OFFICE: ALEMBIC ROAD, VADODARA • 390 003. •TEL: (0265) 2280550, 2280880 Website: www.alembicpharmaceuticals.com •E-mail: alembic@alembic.co.in • CIN: L24230GJ2010PLC061123
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Annexure-A Details under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") read with SEBI Master Circular No. H0 /49/14/14(7)2025-CFD-POD2/l/3762/2026 dated JQth January, 2026: Sr. No. Particulars Details of Appointment- Mr. Rajkumar Baheti 1. Reason for change Appointment 2 Date of appointment 1st April, 2026 & term of appointment Term of Appointment: N.A. 3 Brief profile (in case of Mr. Rajkumar Baheti, is a Commerce graduate appointment) and a fellow member of the Institute of Chartered Accountants of India. He is also a fellow member of the Institute of Company Secretaries of India with extensive professional experience of 44 years in the field of finance including corporate finance, financial governance, regulatory compliance and complex financial matters, possesses relevant academic and professional qualifications and has held senior leadership roles in reputed organizations. 4 Disclosure of Not related to any of the Directors or Key relationships between Managerial Personnel of the Company. directors ALEMBIC PHARMACEUTICALS LIMITED REGD. OFFICE: ALEMBIC ROAD, VADODARA • 390 003. •TEL: (0265) 2280550, 2280880 Website : www.alembicpharmaceuticals.com •E-mail: alembic@alembic.co.in • CIN: L24230GJ2010PLC061123
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- -- - - I C•' · '~,'.~· Ii • .. . : ~,\ , .. Al !MBIC PHARMACEUTICALS LtMlT! D ON:L24230Gl2D10PLC06l l2l ltegctOfflc.e: Alembic Road, Vadocfara - 390 003 rer • 026S 6637(100 Em, 11 : Jp!.investors@atemblc.co.ln Website : www.aleniblcpharmac:euttals.com Statement of Consolidated Unaudited financ;.1 Results for the quarter and nine months period ended 31st December, 2025 Quarter Ended Nin• Months Ended Year Ended Particu1ars 31.12.2025 30.09.2025 31.12.2024 31.12.2025 31.12.2024 31.03.2025 '(Un11<1dited) (Unaud~ed) (Unaudited) (Unaudited) (Unaudited) (Audited) 1 ~ venue from Operation5 1,876.31 1,910.15 1,692.74 5,497.18 4,902.45 6,672.08 2 Other !name 15,50 6.91 9.50 28.91 28.35 42.55 3 T- IJncome 1,891.81 1,917.06 1,702.25 5,526.09 4,930.80 6,714.63 4 ~ (a) Cost of Materials conS<Jmed 448.73 463.14 446.91 1,343.15 1,245.97 1,672.17 (b) P1Jrd11se of stock~n-trlde 143.11 126.82 120.18 3751,09 318.32 410.96 (C) Changes In Inventories of finished goods, Stodc In trade and WIP (6U 7) (74.04) (127.55) (26U 3) (301.55) (289.77) (d) Employee benefits expense 432.71 437.54 397.52 1,293.02 1,168.75 1,562.34 (e) Anana! coses U .31 24.23 22.26 71,07 54.25 78.77 (f) Depreda tion & Amortaatlo n Expense 80.12 76.07 70.04 229.9e 209.59 278.58 (g) Other expenses 621,13 641.00 595.46 1,861.32 1,734.63 2,308.15 T- 1 Expan ... 1,686.24 1,694.76 1,524.82 4,,0 7,67 4,429.98 6,021.19 s Pro fit before Shara of Pro fit / (Loss ) of Associ ates and Joint 205,57 222.30 177.43 618.42 500.83 693.44 Ventu- 6 Share of Profit/ (loss) of Associates & Joint Ventures (1.84) 1.42 0-36 (0.86) 1.54 0.87 7 Profit BefoNI Exceptio nal nam and Tax 203.73 223.72 177.78 617,55 502.36 694.31 8 Exceptional Item - Ret'er Note No 3 & 4 (42.23) (42.23) 12.87 12.87 9 ProfotBeforeTax 161,50 223.72 177.78 575,32 515.24 707.18 10 Tax Expense (I) Current Tax 27.48 46.59 22.48 96.29 101.54 122.69 (U) Defe,red Tax 2-06 (6.59) 17.60 9,73 (11.68) 2.911 (Ii ) Short / (Excess) Tax Provlslon - - - - 0.00 (0.51) 11 Profit for th• Period befora: non-control ling Inte rests 131,95 183.71 137.70 461.30 4:!5.38 582,01 12 Non-controlling lntl!rests 1.02 1.00 0.72 2.77 1.15 1.41 13 Profit far the Period after non-ccntroJling interests 132,97 184.71 138.42 472.07 426.53 583.42 14 othe r Compre hcnsiva lnQome ,. (i) Items that wil not be reclassified lo profit/ (loss) 2-65 (7.18) 0.13 (5.00) (3.51) (1.89) (ii) Income tax relating lo Items that wll not be redassl fled lo profit / (0.46) 1.25 (0.02) 0.87 0,61 0.82 (loss) II (i) Item s tnat will be redaSSifled to profit / (loss) s.76 10.59 1,90 17.44 2.88 6.59 Tota l Oth er co mpre hensive Income (A+B) 7,94 4.67 2.01 13.32 (0.02) 5.52 15 Total Compreh"""ive Income for the period (11+14) 1311.90 188.38 139.71 482.61 425.37 587.54 Attributa ble to: - Non-(ll)nl rolilng Interests (1.07) (1.10) (0.75) (2.94) (1.17) (1.42) - Owners of Ille Company 140.97 189.49 140.46 485,5$ 426.54 588.96 16 Earnings pe,- share - Basic & Diluted (in Rs.) 6.76 9.40 7.01 24.02 21.64 29.68 17 Paid up Equity Shan! Qi pltai (Face Value of Rs 2/· e&Ch) 39.31 39.31 39.31 39.31 39.31 39.31 l8 OtheT Equity 5,151.63 Rs. in Crores
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Notu : T1ie above consoUdated results have been recomrnend'ed by the Audit Committee and approved bot' the Board or Otrec:1.ots of the Company. The results have been subjected to review by the statutory auditors of the Company. The repo,t of the statut ory auditors Is unqualifled, 2 The Company is en:iacied In Pharmaceutfcals business only and therefore, thell! Is only one reoortable S<!Qment . 3 On 21 November :Z02S, the Governmen t of !nclia - tied the provisions of the Labour Codes, whldl c:onsolidate twenty-nine existing labour laws Into a unified framework govemJng emplO(ee benollts during and alter employment. The Codes, inter alla, Introduces a urnform deflnitiOn of wages. Based on the provisions nolified aod the position o.JITI!f>lly ascertakl able, the company has evaluated the Impact of the Labour c-. In acrordance with the guida nce Issued by the lns~tute of Chartered Acrountants of India. Actor dingly, an Incremental Impact of Rs 42.23 crore, relating to gratuity and long-term ccmpensated absences primarily arising from revised definition of wages has been pre5ented as an exceptiorla l Item. Tlle Company continues to monitor the finalizatl on of Central and State Nie s, as well as any furthe r clarillcatlons Issued by the Government, and wUI irteorporate any addiuonal accounting Implications as required In future periods. 4 lnsurance dalm pertaining to nash ftoods at Sikkim unit was fully settled and a net Income of Rs. 12.87 crore was recognised under Exceptronal Jtems Jn the financial year 2024-25. 5 Dlsd osures as per Regulation 52(4) of the SEBI (Listing ObligatiOnS and Disclosure Requiremel\t s) RegulaUons, 2015 as applleable and addit lonal lnl0<matJons all! given hereul\der : Sr. Quarter ended Nine Months Ended Y .. rEnded No Particulars 30.09.2025 31.12.2024 31.03.2025 U .12,2025 31.12.2024 31.12.2025 • Debt-£q <1ity Ratio (In tl mti ) 0.25 0.27 0.20 0.25 0.20 0.23 Debt/ Net wont, [Debt: Total Oebt ( Short term + Long term) Net worth : Share capital + Other Equity) b Debt 5eTvia! Covera ge Ratio (in times) 7.93 10.23 8.99 9.10 10.50 9.98 (Profit before tax+iRterest) / (Interest + schedule principal rej)OyfflentS of Long term debt) AMuallsed C Interest: serv ice Cavua ae - (In ti mes) 7.93 10.23 8.99 P.10 10.50 9.98 (Profit before tax+int...est )/ Interest d Net Worth (Rs. In Crorea) 5,46 3.32 5,322.35 5,041.04 S,463.32 5,041.04 5,193.99 (Equity capital+ Other Equity exdudlng fair value ct,,,nge on fin- 1 lnstn,ments tl1rouQh OC[) e current Ratio (in times) 1.68 1.59 !.71 1,68 1,71 l.69 current Asset / Current Liabllitles f Long Tenn Dabt to working capital (In tlmu ) o.os 0.02 0.05 Long Term Borrowing< (Incl. Current Matun'ties)/ (Current As5ets - Current Liab,11tiH) g 8ad Debb to Accounts Receivable Ratio(~ ) - 0.03'1/o 0.43% 0.38% Bad Debts / Aa:ounts Recelvable h current Liability Ratio (in times ) 0.87 0.89 0.93 0.87 0.93 0.93 Current LiabollieS / Total Ulbllitles I Total Debts to Total Assets (In times) 0.17 0.18 0.14 0,17 0,14 0.16 (Long term Borrowings + Short Term aorro .. ings+ t.ease llablfity)/ Total Assets j Debmrs Turnover Rlltio (ln times ) 5,41 5.48 5.90 5.25 5.76 5.42 (Value of Sales and Service/ Av<!rage Debtor) Annorised k In- ry Tumov e,- (in times) 4.81 4.90 5.17 4,66 5.04 5.17 (Sale of proclucts / AY<rage WIP, FG and Stock in trade ln- tory ) Annualised I Opera ting Margin ('l\o) l6.42'Vo 17.02% 16.00% 16.76 ... 15.65% 15.78% EBITDA (tief ore Excel)liona l Items)/ Revenue from Operations m Net Profit Margin ('11,) 7.09% 9.67% 8.18% 8.591\1, 8.70% 8.74% (Net Profit after taxes and w re of Profit/ Clos s) of Associates and Joint Ventures )/ Revenue from Open,tion s ~ ~ CE.{JJ';C' ( ff' VADO DARA t r - ,Uembic Pharmaceutical• Umillad i 390003. f . . . ~ :-.: ~.:>v * (:}~'y_ --- - Place. Vadodara Date : 5th February,2026 Pranav Amin Managing Director Visit us at www.atembkpharmaceutlcalc.com
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ALEMBIC PHARMACEUTI CMS LIM IT ED CIN:L24230Gl20!091.C061123 Regd.Offlce: Alembk !load, Vadodara · 390 003 Tel : 0265 6637000 Email : apl.investorsl)alembic.co.in Website : www.alembicphu maceutieals.com Statement of Standalone Unaudited Financial Rasults far the quarter and nine month s period ended 31st December, 2025 Rs Jn Crores Quart,or Ended Nine Month• Ended 'rear Ended Particu lars 31.12.20;25 30.09.2025 31.12.2024 31.12.2025 31.12.2024 31.03.2025 (Unaudited } (UMudited) (Unaudited) (Unaudited) (Unaudited) (llud~ed) 1 Rr.l"" ue from Operations 1,642.24 1,796.24 1,406.09 4,ll32.64 4,461.99 6,032.63 2 other Income 10.73 11.49 15.46 :so.02 34.67 47.88 :s Total lnco ""' 1,652.117 1,807.73 1,421.55 4,1162.66 4,4 96 .66 6,080.51 4 l!xpenses (a) cast of Materials - 448.73 463.14 446.91 1,343.15 1,245.97 1,672.17 (b) Purd,a se of stock-l<l-trad e 104.73 97.97 105.lJ 300.20 29S.60 38S.H (c) Changes In Inventories ol ftnlshed ~ . Stock In trade and (48- n ) 22.80 (173.731 (137,47) (302.60) (268.54) WIP (d) Employee benefits e,cpense 401.36 408,12 369.18 1,205.87 1,093.31 1,46M 7 <•> F!nana, Costs 21.65 22.81 21.79 67.10 52.76 76.47 (f) Depredation II. Amort!a tfon E- 79.67 75.64 69.69 228.69 208.49 277.08 (g) OU- Expenses 464.58 S00.90 478.78 1,432.24 1,398.98 1,875.90 T- 1 Expen ses 1,471.95 1,591.38 1,317.74 4,439.77 3,992.51 S,484.80 5 Profit llef'ote &oa ptional Ite m and Tax 181.02 216.35 103.61 522.89 504.16 595.72 6 Exceptional Item • Refer Nate No 2 &. 3 (42,23) (42,23) 12.87 12.87 7 Profit Before Tax 138.78 216.35 103.81 480.66 517.03 608.59 8 Tax! xpense (1) Cl.ffent Tax 24.31 36,99 18.00 83,30 89,25 105.98 (Ii) Short /(Exces,;) Tax Provision - - o.oo (O.Sl ) 9 Pn,li t fur the Period 114.47 179.36 85.81 397.36 427.78 503.12 10 Other Comprehensi ve Income (I} Items that will not be reclassified to profit / (loss) 2.65 (7.18) O,lJ (5.00) (3.51) (1.89) (II) Income tax relating to Items that will not be recias Siroed (0,46) 1.25 (0,02 ) 0.87 0.61 0.82 to profit / (loss ) 11 Tot. I Comp,eh ensi .. Income for the period 116,66 173.44 85.92 393.23 424.89 502.05 12 Earnln9S per Share - 8aslc &. Diluted (in Rs.) 5.82 9,12 4.37 20.22 21.76 25.60 13 Paid up Equity Share Capital (Face Value of Rs 2/· each ) 39.31 39.31 39.31 39.31 39.31 39,31 14 other Equity 5,155.43
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Notes : 1lle above standalo ne results have been recommended by lhe Audk Committee and approved by the Board of Directors of the Company. 1lle results have been subjected to revtew by the statutory auditori ol the Company. The report of the statutory auditors Is unquallHed. On 21 November 2025, the Government of lnOia notined the provisions of the Labour Codes, whk:h consolk:late twenty-nine ex1s1U'lg labour laws into a unll'ied framework governing employee benents during and after employment. Toe Codes, Inter alla, Introduces a uniform deflnltlon of wages. Basca on the provisions notlfted and the l)OSitlon conen tly asa, ~ Jnable, the Company has evaluated the impact of the Labour Codes In accordance with the guidance isSYed by the Institute of Chartered Accountants of India. Accordin gly, an increm ental Impact of Rs 42.23 crore, relatlfl g to grataty and long-term compensated anseoces primarily arising from revised delinl~on or wages has been presented as an exceptlonal Item. The Company continues to monitor the finalization of Central and State ru es, as well as any further darif.cations Issued by the Govern ment, and wUI Incorporat e any addltlonal accounting Implications as required ln M ure perlods. 3 Insurance doim perta ining to flash floods at SIKklm urit was fully settle d and a net 111Come of Rs. 12.87 crore was re<:ognlsed under Exceptional Items In the f<11aneial year 2024·25. 4 Dlscfosures u per ReQUlatlon 52(4) or the SEBI (Ustlng Obttgations and Dlsdosure Requirements) Regutatlons , 2015 as appQcabfe and additional Informations ate given hereunder: Sr. Particulars Qua rt er End ed Nme Months Ended Year Ended No 31.12.2025 30.09.2025 31.12.2024 31.12.2025 31.12.2024 31.03.2025 a Debt-Equity Ratio (In times ) 0.23 0.25 0.19 0,23 0.19 0.22 Debi I Net Worth (Debt : Total Debt ( Short term + lon<J term) Net worth : Share Cllpb l + other Equity] b Debt Service Coveoage Ratio (In times) 7.41 10.49 S.76 8.16 10.80 8.96 (Profit l>efo~ tax+lnterest} / (Interest .,. SCheduie prfnclpal repayments or Long term debt } Annualised C In- Senriao CoYenoae Ratio fi n limes ) 7.41 10.49 S.76 8.16 10.80 8.96 (Profit befon, tax +inter est)I Interest d - - (Rs, In Crores ) 5,374.80 5,258.lS 5,130.10 5,374.80 S,130.10 5,197.79 (Equity cap,111 + Other Equty excluding fair val~ change on linandal rnstru ments throug h OCIJ e C&urent Ratio (In times ) 1.68 1.59 1.76 l.68 1.76 1.71 Current Asset/ Current LlabMities f Bad Debts to Accounts Receivable Ratio ( % ) - 0.03% 0.37% 0.36% Bad Debts/ Accounts Realv able g Current Llablllty RatlO (In times ) 0.95 0.95 0.93 0.95 0.93 0.93 Current u_ , Total Liablllties h Tota l Debts to Tota l Assets (In times ) 0.17 0.18 0.14 0.17 0.14 0.16 (l.onjj term Borrowings + Sl>ort Term 8o1Towln gs + Lease llabllltvlf Total Assets I Debtors Turnover RaHa (In times ) 4.46 4.75 3.93 4,44 4.22 4.20 (Value of S!lles and Service/ Average Debtor) Annualised l Inventory Turnover (In times ) 5.56 6.08 5.52 5.52 5.93 6.12 {Sale of produC:U' Average WIP, FG and StoCk In trade Jnvento,y ) Annualised k 0pera t1119 Margin (0/o) 17.19% !7.53% 13.89% 16.60% 17.15% 15.74% EBnD A (before El<CeptiOnal items)/ Reven~ from Operations I Net Profit Margin (%) 11.97% 9.99'11. 6.10% 8.011% 9.59% 8.34% Net Profit after tax es / Revenue from Operations . --· Place : Vadodara Date : 5th Feoruary,2026 For Alembic Pharm accutka ls tlmfted Pranav Amin Managing Director Visit us at ww w ..alem blcph arm aceutl cals.com
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kkc & associates Up Chartered Accountants (formerly Khimji Kunverji & Co LLP) Independent Auditor's Review Report on unaudited consolidated financial results for the quarter ended 31 December 2025 and year to date results for the period from 01 April 2025 to 31 December 2025 of Alembic Pharmaceuticals Limited under Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Alembic Pharmaceuticals Limited Introduction 1. We have reviewed the accompanying statement of unaudited consolidated financial results of Alembic Pharmaceuticals Limited ('the Parent' or 'the Company') and its subsidiaries (the Parent and its subsidiaries together referred to as 'the Group') and its share of the net profit/(loss) after tax and total comprehensive income/(loss) of it associate for the quarter ended 31 December 2025 and year to date results for the period from 01 April 2025 to 31 December 2025 ('the Statement'), being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations'). We have initialled the Statement for identification purpose only. 2. This 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 the Indian Accounting Standard ('Ind AS') 34 'Interim Financial Reporting' prescribed under section 133 of the Companies Act, 2013 ("the Act"), read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. Scope of 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 ('the ICAI'). 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 Standards on Auditing 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. We also performed procedures in accordance with the circular Issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable. 4. The Statement includes the interim financial results of entities mentioned in Annexure A. Conclusion 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, 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 specified under section 133 of the Act as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 a · on 52 of the Listing Regulations, including the manner in which it is to be disclosed, or that it cont ~ I misstatement .,. . '-Cb \ ~ Sunshine Tower, Level 19, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013, Ind )J. ~CCOuntai1s ::}/ Page 1 of 5 T: +9122 6143 7333 E; info@kkcllp.in W: www.kkcllp.in LLPIN: AAP-2267 f(;J' 'b Suite 52, Bombay Mutual Building, Sir Phirozshah Mehta Road, Fort, Mumbai 400001, India
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kkc & associates llp Chartered Accountants (formerly Khimji Kunverji & Co LLP) other Matters 6. We did not review the interim financial result of 1 subsidiary included in the Statement, whose interim financial result, reflect total revenue {before consolidation adjustment) of Rs.504.16 crore and Rs.1505. 77 crore, total net profit/(loss) after tax (before consolidation adjustment) of Rs.9.56 crore and Rs.38.33 Crore, total comprehensive income/(loss) {before consolidation adjustment) of Rs.13.73 Crore and of Rs. 55.03 Crore, for the quarter ended 31 December 2025 and for the period from 01 April 2025 to 31 December 2025 respectively, as considered in the Statement. This interim financial result has been reviewed by other auditor and their report, vide which they have issued an unmodified conclusion have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matter. 7. The Statement includes the interim financial results of 4 subsidiaries which have not been reviewed by their auditors, whose financial results reflect total revenue (before consolidation adjustment) of Rs. 193.19 Crore and Rs.636.51 Crore, total net profit/(loss) (before consolidation adjustment) after tax of Rs. (2.50) Crore and Rs. (15.65) Crore, total comprehensive income/(toss) (before consolidation adjustment) of Rs. (3.20) Crore and Rs. (15.31) Crore for the quarter ended 31 December 2025 and for the period from 01 April 2025 to 31 December 2025 respectively, as considered in the Statement. The Statement also includes the Group's share of net profit/{loss) after tax (before consolidation adjustment) of Rs. (1.09) Crore and Rs. (0.73} Crore and total comprehensive income/(loss) (before consolidation adjustment) of Rs. (1.09) Crore and Rs. (0.73) Crore for the quarter ended 31 December 2025 and for the period from 01 April 2025 to 31 December 2025 respectively, as considered in the Statement, in respect of 1 associate, based on their interim financial information/ financial results which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial information/ financial results are not material to the Group. Our conclusion on the Statement is not modified in respect of the above matter. 8. The Parent Company's management has converted the interim financial results of 5 subsidiaries, which are located outside India, from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Parent Company's management. Our conclusion, in so far as it relates to the balances and affairs of these subsidiaries is based on the review report of such other auditor and Management certified interim financial results as referred in above paras and the conversion adjustments prepared by the management of the Parent Company and reviewed by us. Our conclusion on the statement is not modified in respect of this matter. Sunshine Tower, Leve! 19, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013, India T: +9122 6143 7333 E: info@kkcllp.in W: www.kkcllp.in LLPIN: AAP-2267 Page 2 of 5 Suite 52, Bombay Mutual Building, Sir Phirozshah Mehta Road, Fort, Mumbai 400001, India
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kkc & associates tip Chartered Accountants (formerly Khimji Kunverji & Co LLP) 9. Attention is drawn to the fact that the unaudited consolidated financial results of the Company for the corresponding quarter ended 31 December 2024 and year to date results for the period from 01 April 2024 to 31 December 2024 were reviewed by K C Mehta & Co LLP whose reports dated 03 February 2025 expressed an unmodified conclusion on those unaudited consolidated financial results. Further, the consolidated financial statements of the Companyfortheyearended 31 March 2025 were audited by KC Mehta & Co LLPwhose report dated 06 May 2025 expressed an unmodified opinion on the said consolidated financial statements. Our conclusion is not modified in respect of above matters. For KKC & Associates LLP Ketan S Vikamsey Partner !CAI Membership No: 044000 UDIN:26041.tOOOXW\olORPlc Place: Mumbai Date: 05 February 2026 Page 3 of 5 Sunshine Tower, Level 19, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013, India T: +9122 6143 7333 E: info@kkcllp.in W: www.kkcllp.in LLPIN: AAP-2267 Suite 52, Bombay Mutual Building, Sir Phirozshah Mehta Road, Fort, Mumbai 400001, India
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kkc & associates Up Chartered Accountants (formerly Khimji Kunverji & Co LLP) AnnexureA List of Entities :- Sr.No Name of Entity Relation 1 Alembic Pharmaceuticals Limited Parent 2 Alembic Pharmaceutical Inc. Subsidiary a Onkar Realty LLC 1 Step down Subsidiary b Alembic Labs LLC 2 Step down Subsidiary C Utility Therapeutics 3 Step down Subsidiary d Alembic Therapeutics LLC 4 Step down Subsidiary 3 Alembic Global Holding SA {AGH) Subsidiary a Alembic Pharmaceuticals Australia Pty Ltd Step down Subsidiary b Alembic Pharmaceuticals Canada Ltd Step down Subsidiary C Alembic Pharmaceuticals Europe Limited Step down Subsidiary d Genius LLC 5 Step down Subsidiary e Alnova Pharmaceuticals SA 6 Step down Subsidiary f TicTwo Therapeutics Inc. Step down Subsidiary g Alembic Lifesciences Inc. Step down Subsidiary h Rhizen Pharmaceuticals AG Associate of AGH i Dahlia Therapeutics SA 6 Associate as a subsidiary of Rhizen Pharmaceuticals AG i Alembic Marni SpA 7 Joint venture k SPH Sine Alembic (Shanghai) Pharmaceutical Joint Venture Technology Limited 8 4 Alembic Pharmaceuticals Chile Spa Subsidiary 5 Alembic Pharmaceuticals S.A.de C.V. Subsidiary 6 Alembic Pharmaceuticals Scientific Office L.L.C9 Subsidiary 7 Fenix Research Labs Private Limited 10 Associate 1 The entity was dissolved on September 19, 2024 2The entity was dissolved on September 26, 2024 3 The entity has been acquired on July 02, 2025 4 The entity has been incorporated on March 19, 2025 5 Genius LLC is based out in Ukraine. The investment value in Genius LLC is already provided for by AGH during the F.Y.2022-2023. As at December 31,2025, Genius LLC does not have any asset/liability, and no transaction is entered during the quarter ended 31 December 2025 and year to date for the period 01 April 2025 to 31 December 2025. As per Intimation 06 December2024 to BSE Limited and National Stock Exchange of India limited by Parent company, this company has been non-operation and is in the process of dissolution. 6 As per Intimation 06 December 2024 to BSE Limited and National Stock Exchange of India limited by Parent company, these company have been non-operation and is in the process of dissolution. 7 The financial results of this entity have not been received or prepared by the Alembic Global Holding SA and no further share of loss is required to be borne by the Group as the entire Equity capit given to it is fully '3 c,.· ~ el~ Sunshine Tower, Level 19, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013, lndi ~ A~ m~ .'.!, Page 4 of S T: +9122 6143 7333 E: info@kkcllp.in W: www.kkcllp.in LLPIN: AAP-2267 R:1 :,,,. Suite 52, Bombay Mutual Building, Sir Phirozshah Mehta Road, Fort, Mumbai 400001, India
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kkc & associatJs Up Chartered Accountants (formerly Khimji Kunverji & Co LLP) provided for in earlier year. As per intimation dated December 6, 2024 to BSE Limited and National Stock Exchange of India Limited by Parent Company, this Company has been non-operational and is in the process of dissolution. 8 The joint venture agreement was entered into on May 7, 2019. We are informed that the Group has invested Rs. 0.46 Crores and the operations have not started till December 31, 2025, and therefore, there are no transactions for the quart er and year to date result for the period from 01 April 2025 to 31 December 2025 and accordingly, no share of profit or loss has been consolidated in these interim financial results. This Joint Venture is in the process of product registration and will take due course oft ime for registration and commencement of operations. 9 Conversion from Branch to Subsidiary on October 27,2025 1°Formerly known as lncozen Therapeutics Private Limited. Sunshine Tower, Level 19, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013, India T: +9122 6143 7333 E: info@kkcllp.in W: www.kkdlp.in LLPIN: AAP-2267 Page S of 5 Suite 52, Bombay Mutual Building, Sir Phirozshah Mehta Road, Fort, Mumbai 400001, India
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kkc & associates lip Chartered Accountants (formerly Khimji Kunverji & Co LLP) Independent Auditor's Review Report on unaudited standalone financial results for the quarter ended 31 December 2025 and year to date results for the period from 01 April 2025 to 31 December 2025 of Alembic Pharmaceuticals Limited under Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. To The Board of Directors of Alembic Pharmaceuticals Limited Introduction 1. We have reviewed the accompanying statement of unaudited standalone financial results of Alembic Pharmaceuticals Limited ('the Company') for the quarter ended 31 December 2025 and year to date results for the period from Ol April 2025 to31 December 2025 ('the Statement'), being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations'). We have initialled the Statement for identification purpose only. 2. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors of the Company, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard ('Ind AS') 34 'Interim Financial Reporting' specified in section 133 of the Companies Act, 2013 ("the Act"), read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the Listing. Regulations. Our responsibility is to express a conclusion on the Statement based on our review. Scope of 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 ('the ICAI'). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company's personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. Conclusion 4. Based on our review 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 specified under Section 133 of the Act as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Sunshine Tower, Level 19, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013, India T: +9122 6143 7333 E: info@kkcllp.in W: www.kkcllp.in LLPIN: AAP-2267 Page 1 of 2 Suite 52, Bombay Mutual Building, Sir Phirozshah Mehta Road, Fort, Mumbai 400001, India
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kkc & associates lip Chartered Accountants (formerly Khimji Kunverji & Co LLP) Other Matters 5. Attention is drawn to the fact that the unaudited standalone financial results of the Company for the corresponding quarter ended 31 December 2024 and year to date results for the period from 01 April 2024 to 31 December 2024 were reviewed by KC Mehta & Co LLP whose reports dated 03 February 2025 expressed an unmodified conclusion on those unaudited standalone financial results. Further, the standalone financial statements of the Company for the year ended 31 March 2025 were audited by KC Mehta & Co LLP whose report dated 06 May 2025 expressed an unmodified opinion on the said standalone financial statements. Our Conclusion is not modified in respect of above matters. For KKC & Associates LLP Chartered Accountants (formerly Khimji Kunverji & Co LLP) Firm Registration Number: 105146W/Wl00621 ~ s1~ Ketan S Vikamsey Partner Place: Mumbai Date: 05 February 2026 Sun:;hine Tower, Level 19, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013, India T; +9122 6143 7333 E: info@kkcllp.in W: www.kkcllp.in LLPIN: AAP-2267 Page 2 of 2 Suite 52, Bombay Mutual Building, Sir Phirozshah Mehta Road, Fort, Mumbai 400001, India