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Investor Presentation Q2 & H1 FY27 1
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2 Disclaimer The Presentation is to provide the general background information about the Company’s activities as at the date of the Presentation. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendation that any investor should subscribe / purchase the company shares. The Company makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information contained herein. This presentation may include certain “forward looking statements”. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ materially from these statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others, general economic and business conditions in India and abroad, ability to successfully implement our strategy, our research & development efforts, our growth & expansion plans and technological changes, changes in the value of the Rupee and other currencies, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global pharmaceutical and chemical industries, increasing competition, changes in political conditions in India or any other country and changes in the foreign exchange control regulations in India. Neither the company, nor its Directors and any of the affiliates or employee have any obligation to update or otherwise revise any forward-looking statements. The readers may use their own judgment and are advised to make their own calculations before deciding on any matter based on the information given herein. No part of this presentation may be reproduced, quoted or circulated without prior written approval from Blue Jet Healthcare Ltd. 2
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Table of Content Q2 & H1 FY27 Financials Company at a Glance Contrast Media Intermediates High Intensity Sweeteners Pharma Intermediates & API Growth Strategy R&D Capabilities Management and Board of Directors 1 2 3 4 5 6 7 8 3
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Q2 & H1 FY27 Financials 1 4
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5 Q2 & H1 FY27 Earnings Highlights Business Updates ✓ This quarter we clocked Highest Quarterly Sales at Rs 3,757mn. ✓ The R&D centre at Hyderabad facilities are operational now with 40 resources onboarded & activity started. ✓ The Company have successfully delivered & validated a new Contrast Media Intermediate to an innovator. ✓ Company have successfully developed Amino Acid Derivatives for Peptide Fragments and the same would be commercialized / shipped during Q4 FY27. Quarterly Revenue Growth +29% YoY +28% QoQ Half Yearly Revenue Growth
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6 Q2 FY27 vs Q1 FY27 (QoQ) Earnings Highlights Financial Highlights ✓ Revenue from Operations in Q2 September 26 was Rs 3,757mn – Highest Quarterly Sales reported, EBITDA Rs 1,188mn (32% Margin) and PAT Rs 1,025mn (27% Margin) ✓ Revenue from Operations in Q1 June 26 was Rs 2,931mn, EBITDA Rs 981mn (33% Margin) and PAT Rs 783mn (27% Margin) ✓ QoQ comparison: Revenue from operations increased by 28%, EBITDA increased by 21% [Rs 207mn] and PAT increased by 31% [Rs 242mn] during Q2 September 26. ✓ The increase in Revenue from Operations during current quarter is due to strong growth in PI & API category (52%) as well Contrast Media (25%) ✓ Other Income increased by Rs. 110mn (72%) during Q2 September 26.
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7 Q2 FY27 vs Q2 FY26 (YoY) Earnings Highlights Financial Highlights ✓ Revenue from Operations in Q2 September 26 was Rs 3,757mn mn, EBITDA Rs 1,188mn (32% Margin) and PAT Rs 1,025mn (27% Margin) ✓ Revenue from Operation in Q2 September 25 was Rs 1,655mn, EBITDA Rs 549mn (33% Margin) and PAT Rs 521mn (32 % Margin) ✓ YoY comparison, Revenue from operations increased by 127%, EBITDA increased by 116% [Rs 639mn] and PAT increased by 97% [Rs.504mn] during Q2 September 26. ✓ The increase in revenue from operations during Q2 September 26 was due to higher sales in PI & API Category (322%) as well as Contrast Media (80%)
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8 H1 FY27 vs H1 FY26 Earnings Highlights Financial Highlights ✓ Revenue from Operation: H1 FY27 Revenue from Operation was Rs 6,689mn, EBITDA Rs 2,168mn (32% Margin) and PAT Rs 1,808mn (27% Margin). ✓ Revenue from Operation : H1 FY26 Revenue from Operations was Rs 5,202mn, EBITDA Rs 1,759mn (34% Margin) and PAT Rs 1,433mn (28% Margin) ✓ YoY comparison: Revenue from operations increase by 29%, EBITDA increased by 23% and PAT increased by 26% during H1 FY27 ✓ Other income: Other income increased in H1 FY27 by 27% [Rs 414mn] as compared to [Rs 325mn] mainly due to higher net foreign exchange gain .
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9 Q2 FY27 Vs Q1 FY27 Financial Performance – Key Metrics 397 1,159 1,210 152 2,917 277 1,450 1,833 178 3,738 High-intensity sweetners Contrast media intermediates Pharma intermediates and API Others* Total Q1 FY27 Q2 FY27 (₹ Mn)Revenue from Operations** – Growth Trends -30.3% 51.6% 17.6%QoQ Gr owth: 25.1% 28.1% 981 1,188 33.5% 31.6% Q1 FY27 Q2 FY27 EBITDA EBITDA Margin 783 1,025 26.7% 27.3% Q1 FY27 Q2 FY27 PAT PAT Margin 4.5 5.5 Q1 FY27 Q2 FY27 EPS(₹ Mn) (₹ Mn) 9 EBITDA Profile PAT Profile • *Others include spent oils and industrial mix solvents and R&D services . • **Excludes Other Operating Revenue. (₹)
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10 Q2 FY27 Vs Q2 FY26 Financial Performance – Key Metrics 340 807 434 63 1,644 277 1,450 1,833 178 3,738 High-intensity sweetners Contrast media intermediates Pharma intermediates and API Others* Total Q2 FY26 Q2 FY27 (₹ Mn)Revenue from Operations** – Growth Trends -18.6% 322.1% 184.3%Y oY Gr owth: 79.6% 127.4% 549 1,188 33.2% 31.6% Q2 FY26 Q2 FY27 EBITDA EBITDA Margin 521 1,025 31.5% 27.3% Q2 FY26 Q2 FY27 PAT PAT Margin 3.0 5.5 Q2 FY26 Q2 FY27 EPS(₹ Mn) (₹ Mn) 10 EBITDA Profile PAT Profile • *Others include spent oils and industrial mix solvents and R&D services . • **Excludes Other Operating Revenue. (₹)
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11 H1 FY27 Vs H1 FY26 Financial Performance – Key Metrics Revenue from Operations** – Growth Trends -2.2% 19.1% 107.2%Y oY Gr owth: 46.6% 28.4% 689 1,779 2,554 159 5,181 674 2,609 3,043 330 6,655 High-intensity sweetners Contrast media intermediates Pharma intermediates and API Others* Total H1 FY26 H1 FY27 1,759 2,168 33.8% 32.4% H1 FY26 H1 FY27 EBITDA EBITDA Margin 1,433 1,808 27.5% 27.0% H1 FY26 H1 FY27 PAT PAT Margin 8.3 10.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 H1 FY26 H1 FY27 EPS 11 EBITDA Profile PAT Profile (₹ Mn) • *Others include spent oils and industrial mix solvents and R&D services . • **Excludes Other Operating Revenue. (₹)
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12 Profit and Loss Statement 12 Particulars (Rs. Mn) Q2 FY27 Q1 FY27 QoQ Q2 FY26 YoY H1 FY27 H1 FY26 YoY Revenue from Operations 3,757 2,931 28.2% 1,655 127.1% 6,689 5,202 28.6% Cost Of Goods Sold 1,933 1,371 579 3,304 2,408 Gross Profit 1,824 1,560 16.9% 1,076 69.5% 3,384 2,795 21.1% Gross Margin 48.5% 53.2% 65.0% 50.6% 53.7% Employee benefits expenses 204 201 186 405 360 Other expenses 433 378 341 811 676 Total Expenses 2,570 1,950 1,105 4,520 3,443 EBITDA 1,188 981 21.1% 549 116.1% 2,168 1,759 23.2% EBITDA Margin 31.6% 33.5% 33.2% 32.4% 33.8% Depreciation and amortization 69 67 59 136 116 PBIT 1,380 1,066 29.5% 734 88.2% 2,446 1,969 24.2% Finance costs 6 7 46 13 53 Other Income 262 152 243 414 325 PBT 1,374 1,059 29.7% 687 99.9% 2,433 1,916 27.0% Tax Expense 349 277 166 626 483 PAT 1,025 783 31.0% 521 96.6% 1,808 1,433 26.1% PAT Margin 27.3% 26.7% 31.5% 27.0% 27.5%
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13 Financial Performance over the years – Key Metrics Revenue from Operations** – Growth Trends 1,575 4,778 412 3 6,768 1,759 5,070 340 16 7,185 1,282 4,799 947 55 7,084 1,335 4,039 4,622 251 10,247 1,314 4,951 2,978 180 9,424 674 2,609 3,043 330 6,655 High-intensity sweetners Contrast media intermediates Pharma intermediates and API Others* Total FY22 FY23 FY24 FY25 FY26 H1 FY27 2,493 2,191 2,292 3,777 2,941 2,168 FY22 FY23 FY24 FY25 FY26 H1 FY27 32.4%36.5% 30.4%EBITDA margin ₹ Mn 32.2% EBITDA Profile PAT margin ₹ Mn 1,816 1,600 1,638 3,052 2,478 1,808 FY22 FY23 FY24 FY25 FY26 H1 FY27 27.0%26.6% 22.2% 23.0% PAT Profile C A GR: (₹ Mn) -4.4% 64.0% 178.0%0.9% 8.6% 13 36.7% 29.6% • *Others include spent oils, Industrial mix solvents and R&D • **Excludes Other Operating Revenue 31.0% 26.2%
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14 Financials for the last six years Particulars (₹ Mn) FY22 FY23 FY24 FY25 FY26 H1 FY27 Revenue from Operations 6,835 7,210 7,116 10,300 9,473 6,689 Other Income 194 240 289 463 687 414 Total Revenue 7,029 7,449 7,404 10,762 10,160 7103 Cost of Materials consumed 2,875 3,360 3,144 4,612 4,358 3,304 Employee benefits expenses 330 419 532 610 735 405 Finance costs 33 14 2 1 62 13 Depreciation and amortization 221 251 281 178 240 136 Other expenses 1,137 1,240 1,148 1,300 1,439 811 Total Expenses 4,597 5,283 5,106 6,701 6,834 4,668 Exceptional Items - - (97) - - - PBT 2,432 2,166 2,200 4,061 3,325 2,433 Tax Expense 616 566 563 1,009 847 626 PAT 1,816 1,600 1,637 3,052 2,478 1,808 Summary Statement of Profit and Loss Particulars (₹ Mn) FY22 FY23 FY24 FY25 FY26 H1 FY27 I. Assets Property, plant and equipment 1,185 1,282 1,491 2,596 2,529 2,679 Other non-current assets 466 688 2,041 1,519 4,312 5,201 Total non-current assets 1,651 1,970 3,532 4,116 6,841 7,879 Inventories 1,050 1,257 1,298 2,639 1,874 2,513 Trade receivables 2,274 2,394 1,769 3,495 3,390 4,447 Investments (Current) 938 1,893 2,355 1,867 2,267 6,046 Cash and cash equivalents 754 654 410 330 609 767 Other current assets 467 453 1,224 1,728 1,430 4,187 Total current assets 5,483 6,651 7,056 10,059 9,570 17,959 Total assets 7.134 8.621 10,588 14,175 16,412 25,839 II. Equity and liabilities Total equity 5,215 6,815 8,452 11,331 13,599 22,986 Borrowings - - - - - - Other non-current liabilities 173 67 77 285 538 526 Total non-current liabilities 173 67 77 285 538 526 Current borrowings - - - - - - Trade payables 565 538 303 891 569 476 Other current liabilities 1,180 1,201 1,757 1,669 1,706 1,850 Total current liabilities 1,745 1,739 2,060 2,559 2,275 2,327 Total liabilities 1,918 1,806 2,136 2,844 2,813 2,853 Total equity and liabilities 7,134 8,621 10,588 14,175 16,412 25,839 14 Summary Statement of Assets and Liabilities
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15 Shareholder Information Promoters 73.2% DII 7.5% FII 0.8% Others 18.5% Shareholding as on 30th September 2026 Share Information as on 30th September 2026 NSE Ticker BLUEJET BSE Ticker 544009 Market Cap (₹ Cr) (BSE) 10,198 % free-float 26.9% Free-float market cap (₹ Cr) 2,739 Cash & Cash Equivalents + Treasury Investment (₹ Mn) (As on 30th September 2026) 4,946 Shares Outstanding 18,92,75,701 3M ADTV (Shares)* 8,69,156 3M ADTV (INR Cr)* 51.3 Industry Pharmaceuticals 15 *Source: NSE & BSE ADTV (Shares): Average Daily Traded Volume ADTV (INR Cr): Average Daily Traded Value
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Company at a Glance 2 16
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17 Our Journey 1968 1970 2000 2002 • Established Jet Chemicals Private Limited with Shahad facility (Unit I) • Began manufacturing high- intensity sweeteners - saccharin and its salts • Entered the X-ray contrast media sector, with a basic building block (5- NIPA) • Commenced manufacturing of pharma intermediates and API • Commenced semi- automated manufacturing block for contrast media intermediate business • Established Blue Circle Organics Private Limited (at Unit-II, Ambernath facility) 20032017 2019 2020 2021 2025 • Acquisition of brownfield site in Mahad (Unit III) on a leasehold basis • Acquisition of greenfield site in Ambernath (Unit IV) on a leasehold basis • Received USFDA Establishment Inspection Report of Blue Circle Organics Private Limited for Unit II • Merger between Blue Circle Organics and Jet Chemicals to form Blue Jet Healthcare Private Limited • Supply of Pharmaceutical Intermediate to an innovator 17 • Company successfully commissioned Plant 6 at Ambernath 2026 • Acquisition of land near Vizag and groundbreaking of the project • Launch of QIP. Raised ₹8,000 mn
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18 Who we are A specialty pharmaceutical and healthcare ingredient and intermediate company, offering niche products with an approach of “Collaboration, Development, Manufacturing ” to CDMO business. 18
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19 Blue Jet Healthcare at a glance 511 Commercialized product portfolio (FY26) 1,175.60 KL reaction capacity across 3 facilities (FY26) ₹ 9,473.2 mn Revenue (FY26) (13.7% FY21-26 CAGR) ₹ 2,940.99 mn EBITDA (FY26) (31.0% margin) 24.9% ROCE (FY26) 19.9% ROE (FY26) 3.75x Fixed Asset Turnover (FY26) ₹ 3,619 mn Cash and Cash Equivalents + Treasury Investments (as of 31st March 2026) Key metrics Three product categories: Contrast Media Intermediates, High Intensity Sweeteners, and Pharma Intermediates & Active Pharmaceutical Ingredients ("API") Specialised chemistry capabilities; with dedicated R&D laboratories Long-standing relationships and multi-year contracts with multi-national customers Manufacturing facilities with regulatory accreditations Business Overview Source: Company Information 1. Includes 19, 4, and 28 commercialized products for contrast media, high intensity sweeteners, and pharma intermediates and APIs respectively 19
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20 Overview of our Product Categories Contrast Media Intermediates High Intensity Sweeteners Pharma Intermediates & APIs ◼ Contrast media are agents used in medical imaging to enhance the visibility of body tissues ◼ Company supplies critical starting intermediate and several advanced intermediates ◼ High-intensity sweetener business involves development, manufacture and marketing of saccharin and its salts ◼ Collaboration with innovator pharmaceutical companies and multi-national generic companies ◼ Provides intermediates that serve as pharmaceutical building blocks for APIs in chronic therapeutic areas X-ray & CT Scan MRI Scan 19 ◼ Top 4 players accounts for ~75% global market share1 ◼ 4–27 years of relationship with the 3 of the largest manufacturers . ◼ Table-top sweeteners, oral care products, beverages (primarily soft-drinks), confectionary products, pharmaceutical products, food supplements, and animal feeds 4 13.90% ◼ Offers high-intensity sweeteners to over 300 customers globally ◼ Marquee customers – in FMCG and Agro chemical Space ◼ Chronic therapeutic areas such as cardiovascular system (“CVS”), central nervous system (“CNS”), oncology etc ◼ Markets predominantly in regulated markets ◼ Over 56 customers globally of which 40 in India 31.60% Client relationships Revenue contribution (FY26) # of commercialized products (FY26) End uses Overview 28 Source: Company information, IQVIA report dated October 9, 2023 (“Industry Report”) Note: 1 In each of MAT June 2019, 2020, 2021, 2022 and 2023 20 52.50%
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Contrast Media Intermediates 3 21
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22 Growth drivers for contrast media Overview of Contrast Media and its growth drivers Source: Industry Report Note: 1 World Bank national account data Growing population and changing demographics (65 yrs.+) estimated to increase from 6.9% of the total world population in 2000 to 10.4% by 20251 Growing prevalence of lifestyle diseases Such as diabetes, physical inactivity, obesity, etc. Increased convenience Through online booking and reporting Rising healthcare expenditure Global health expenditure grew at 3.9% CAGR from 2000–17 Focus on early diagnostics Driven by advancement in diagnostic technologies and growing public awareness Increasing demand for preventive healthcare Driven by increased awareness and rising curative costs ◼ Chemical agents that enhances the contrast of an imaging modality in diagnostic imaging, thereby aiding diagnosis of diseases ◼ Once inside the human body, selectively and temporarily taken up by different body tissues ◼ Enhance the images, leading to better visualizations of the tissues and organs ◼ X-ray / Computed Tomography (CT) contrast agents: Iodine- based contrast media agents ◼ Magnetic Resonance Imaging (MRI) contrast agents: Gadolinium-based agents ◼ Ultrasound (USG) agents: Stabilized microbubble-based contrast media agents What is contrast media? Types of contrast media 22
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23Source: F&S Report Global Medical Imaging Market (USD Bn) Global Contrast Media Formulation Market Revenue (USD Bn) Revenue Share of Contrast Agent type, 2024 Global Contrast Media Formulations Market, Market Share of Top Companies, 2024 Global Contrast Media Intermediates Market Revenue (USD Mn) CAGR, 2024-2029F - 6.4% CAGR, 2019-2024: 6.8% CAGR, 2024-2029F: 7.2% CAGR, 2019-2024 - 7.1% CAGR, 2024-2029F - 7.8% 52.8 56.2 59.8 63.6 67.7 72.0 2024 2025F 2026F 2027F 2028F 2029F 4.8 5.1 5.5 5.8 6.2 6.7 7.2 7.7 8.2 8.8 9.5 2019 2020 2021 2022 2023 2024 2025F 2026F 2027F 2028F 2029F 74% 24% 2% Iodinated (X- ray/CT Contrast agents) Gadolinium (MRI contrast agents) Microbubble (Ultrasound agents) 760 814 871 933 999 1,070 1,154 1,244 1,341 1,445 1,558 2019 2020 2021 2022 2023 2024 2025F 2026F 2027F 2028F 2029F 28% 20% 17% 11% 5% 19% GE Healthcare Bracco Imaging Bayer Guerbet Lantheus Others Global Forecast US$9.5bn By 2029 • Highly concentrated and dominated by multi-national corporations • Collectively hold ~75% of the global sales of contrast media formulations1 • Either forward integrated (have equipment manufacturing) or long-standing relationships with manufacturers 1. June 2019, 2020, 2021, 2022 and 2023 The global Contrast Media industry is highly concentrated
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24 High entry barriers for key intermediates’ vendors Strict internal standards for product impurity / features profile Stickiness of relationship Long-term supply contracts Characteristics of the Contrast Media market Blue Jet's positioning Contrast Media Intermediate product category performance ✓ Regularly supplying key starting intermediate as the building block ✓ Several functionally critical advanced intermediates ✓ 4 to 27 years with 3 of the largest contrast media manufacturers in the world, directly ✓ Medium to long term supply contracts with customers ✓ ~70% of total sales backed by contracted sales volumes2 ✓ Products qualified, approved and validated ✓ More than two decades of experience ✓ 75%+ of exports of a selected contrast media intermediate (5-Amino-N,N'-bis (2,3- dihydroxypropyl) isophthalamide) from India1 ✓ Strategically focused on complex chemistry categories 4,778 5,070 4,799 4,039 4,951 2,609 FY22 FY23 FY24 FY25 FY26 H1 FY27 Source: Industry Report Note: 1 In each of the Financial Years 2020, 2021 and 2022; 2 For Financial Years 2021, 2022, 2023 and three months ended 1Q 2023 Source: Company information CAGR: 0.9 % 24 Revenue (₹ mn)
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25 Continue to forward integrate into more advanced intermediates for Contrast Media Key starting intermediate as building block in 2000 to 19 additional advanced intermediates as of FY26 Focus on molecules with customer interest and strategy in either outsourcing or alternate sourcing the next stage of advanced intermediates Further improving chemistry capabilities in close synergy with our customers (4 to 27 years with 3 of top 4 players directly) Strong product development and process optimization capabilities underpinned by in-house R&D capabilities Capture larger wallet share with existing customers Higher realization and profitability per unit Potential of moving up the value chain 25 Key benefits
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High Intensity Sweeteners 4 26
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27 Blue Jet’s positioning in High Intensity Sweetener ◼ Offers high-intensity sweeteners to over 300 customers globally ◼ Focus on marquee customers across various sub-sectors ❑ Table-top sweeteners, oral care products, beverages (primarily soft-drinks), confectionary products, pharmaceutical products, food supplements, and animal feeds ◼ Adherence to strict internal standards to ensure consistency in quality, performance, taste, and impurity profile ◼ Multiple products and applications enabling to cater a diverse customer base Products ◼ Have received US-FDA inspection report ◼ Semi-automated manufacturing facility ◼ Strong product development and process optimization capabilities Compliance, GMP , supply chain reliability Customers 1,575 1,759 1,282 1,335 1,314 674 FY22 FY23 FY24 FY25 FY26 H1 FY27 CAGR: -4.4% Blue Jet's positioning High Intensity Sweeteners product category performance Sources: Company information 27 Revenue (₹ mn)
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28 Global High Intensity Sweeteners Market Source: Industry Report Global Artificial Sweeetener Market Revenue (USD Mn) Global High-intensity Sweetneer Market, Revenue share by segments, 2024 2,406 2,555 2,713 2,882 3,060 3,250 3,468 3,700 3,948 4,213 4,495 2019 2020 2021 2022 2023 2024 2025F 2026F 2027F 2028F 2029F 40% 28% 12% 9% 5% 3% 3% Sucralose Aspartame Saccharin Stevia Acesulfame K Cyclamate Others Global Sucralose Market Revenue (USD Mn) Global Saccharin Market Revenue (USD Mn) 1008.9 1061.4 1116.6 1174.7 1235.7 1300.0 1374.1 1452.4 1535.2 1622.7 1715.2 2019 2020 2021 2022 2023 2024 2025F 2026F 2027F 2028F 2029F 266.7 287.7 310.5 335.0 361.4 390.0 423.2 459.1 498.1 540.5 586.4 2019 2020 2021 2022 2023 2024 2025F 2026F 2027F 2028F 2029F CAGR, 2019-2024 - 7.9% CAGR, 2024-2029F - 8.5% CAGR, 2019-2024 - 5.2% CAGR, 2024-2029F - 5.7%
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Pharma Intermediates & API 5 29
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30 Trends and features of the Pharma Intermediates and APIs Product Category Increased propensity to outsource manufacturing of intermediates & APIs ◼ Enables asset light model and ability to focus on development of novel products for venture capital backed start-ups ◼ Provides cost advantages and supply chain efficiencies De-risking dependence on China by global API and formulations players ◼ Concerns around specific APIs made in China, accentuated with Covid-19 ◼ China implemented stricter regulations and witnessed rising wage costs Self sufficiency with import substitution ◼ Government initiatives such as PLI schemes and bulk drug parks ◼ Growth driven by proven skills, educational systems, supply chain reliability, and IP protection The growth in the global pharmaceuticals market ◼ Launch of novel therapies (including biologics and personalized therapies) ◼ Expansion of existing therapies in several geographies ◼ Growing demand for generic medicines Key trends in Pharma Intermediates and CDMO market Source: Industry Report Features of a typical arrangement to supply of intermediates to innovators of NCEs Revenue and capacity utilization predictability for the CDMO ◼ Customers prefers close partnerships with CDMO driven by ◼ Confidentiality of the projects ◼ Novelty of the underlying chemistry and need for custom-development Higher realizations per unit sold ◼ Key criteria for selection of CDMO include track record in the chemistry and similar therapy areas ◼ Competitive cost is not the most important consideration 30
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31 Overview of Blue Jet’s Pharma Intermediates and APIs Product Category ◼ Commenced manufacturing pharma intermediates two decades ago, leveraging the customer relationships through high-intensity sweetener business ◼ Key focus areas include high-value pharma intermediates and APIs ◼ In chronic therapeutic areas ◼ Import substitution market ◼ Benefit from collaboration with innovator companies because typical technology transfer reduces the development risk ◼ Innovator pharmaceutical companies and multi-national generic pharmaceutical ◼ Over 40 customers in India, and 16 globally across Europe, North America, South America, and Asia ◼ Cardiovascular system (“CVS”) ◼ Oncology ◼ Central nervous system (“CNS”) Client profile Salient features Therapeutic areas 412 340 947 4,622 2,978 3,043 FY22 FY23 FY24 FY25 FY26 H1 FY27 CAGR: 64.0% Pharma Intermediate and APIs product category performance 31 Revenue (INR mn)
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32 67.8 93.1 135.024.3 35.7 55.0 92.1 128.8 190.0 2019 2024 2029F Drug Product (Formulation) Drug Substance (API) Total 92 95 106 113 120 129 139 150 162 176 190 2019 2020 2021 2022 2023 2024 2025F 2026F 2027F 2028F 2029F 3.1 3.4 3.8 4.3 5.0 5.6 6.2 7.1 8.2 9.5 10.8 2019 2020 2021 2022 2023 2024 2025F 2026F 2027F 2028F 2029F 100% 60% 40% 25% 100% 88% 38% 45% USA EU China India Cost Differential, % cost of US R&D Cost Manufacturing Cost 35.0 46.4 66.2 32.8 46.7 68.8 67.8 93.1 135.0 2019 2024 2029F Innovator Generic Total Global API CDMO Market by Innovation Type (USD Bn) CDMO Potential in API for Indian Players Source: F&S Report Global CDMO Market by Modality (USD Bn) Global CDMO Market Revenue (USD Bn) Indian CDMO Market Revenue (USD Bn) Cost of R&D and Manufacturing - Comparison of USA versus other regions, 2024 Note: Relative numbers indexed against the USA, based on Industry KOL estimates CAGR, 2019-2024 - 6.9% CAGR, 2024-2029F - 8.1% CAGR, 2019-2024 - 12.3% CAGR, 2024-2029F - 14.0%
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33 Leverage our long-standing customer relationships to continue entering adjacencies in the pharma intermediate and API category Blue Jet’s positioning Process research, analytical research and chemistry capabilities Continuous focus on product quality Leverage long-standing relationships with innovator companies Focus on three niche areas in providing CDMO services Investigational new drugs and new chemical entities (NCEs) Develop advanced intermediates for NCEs under trials for US-FDA approvals Drugs that are still under patent and not genericized Offering advanced intermediates to innovators for four active pharmaceutical ingredients (APIs) which are still under patent • Including two APIs in the oncology sector, one API in the cardiovascular system category and one API in the central nervous system category Genericized drugs that are still niche Offering multiple advanced intermediates to a number of large generics companies for chronic illness therapies 33
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R&D Capabilities 6 34
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35 Our R&D framework Process scale-up and validation Portfolio evaluation Process development Regulatory filings and approvals Literature search Method development and optimization Characterization of impurities and standards Polymorphism screening and optimization Pharmaceutical salt screening and optimization Cryogenic reactions High pressure reactions Analytical research Method validation Non-carry over studies Stability/hold-time studies High temperature reactions Asymmetric hydrogenation Enzymatic transformations Particle size distribution studies Chemistry research Innovative and complex processes Process research R&D capabilities across Catalytic hydrogenation Iodination Bromination Diazotization Esterification Hoffman re-arrangement Chlorination 35
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36 Strengthening R&D Capabilities with Our New Hyderabad Facility 36
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37 Sustainability Focus on enhancing energy efficiency Invested in windmills with installed capacity of 3.3MW Minimizing solvents and using recycled solvents and water Created carbon sinks through tree plantations Effluent treatment plants with modern standards of flocculation, clarification and aeration Various initiatives on energy efficiency, renewable energy, and water conservation to reduce carbon footprint 37
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Growth Strategy 7 38
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39 Our strategies Build additional production capacity to keep in step with the envisaged increase in customer demands Continue to invest in R&D infrastructure and capabilities Leverage our long-standing customer relationships to continue entering adjacencies in the pharma intermediate and API category Continue to forward integrate into more advanced intermediates for Contrast Media Focus on operational efficiency and mitigation of supply chain risks 39
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Management and Board of Directors 8 40
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41 Naresh Suryakant Shah Executive Director, Head – Marketing ◼ Has more than three decades of experience in marketing ◼ Currently also associated as a director of BC Bio Sciences ◼ Holds a diploma in Chemical Engineering from the Khopoli Polytechnic College, Raigad Experienced and visionary management team backed by independent - Board of Directors Akshay Bansarilal Arora Executive Chairman ◼ Has more than three decades of experience with the Company ◼ Holds bachelor’s and master’s degrees in science from University of Mumbai Shiven Akshay Arora Managing Director ◼ Has more than six years of experience with the Company ◼ Holds a bachelor’s degree in business from Bond University, Gold Coast, Australia ◼ Previously worked with Strides Pharma, Emcure Pharmaceuticals, RPG Life Sciences, and Ranbaxy Laboratories ◼ Has a bachelor’s degree in chemical engineering from IIT Kanpur and a master’s programme from IIFT, New Delhi Vimalendu Kumar Singh (V.K. Singh) Chief Operating Officer ◼ Previously worked with Philips Electronics, Dr. Reddy’s Laboratories, Granules as CFO ◼ Associate member of Institute of Chartered Accountants of India since 1988 Ganesh Karuppannan Chief Financial Officer ◼ Previously worked at Amoli Organics and Kores (India) as CEO ◼ Holds a doctorate of philosophy in science from the University of Bombay and a master’s degree from Birla Institute of Technology & Science Chandrashekar Parenky President – Research and Development Management team 41
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42 Experienced and visionary management team backed by independent Board of Directors (cont’d) Sweta Poddar Company Secretary and Compliance Officer ◼ Has experience of over a decade as a company secretary ◼ Associated with Chinar Chemicals Private Ltd. and Aarey Drugs and Pharmaceuticals Ltd. ◼ Holds a bachelors’ degree in commerce from the University of Calcutta Management team (cont’d) Independent board of directors Girish Paman Vanvari Independent Director ◼ Founder and Partner of Transaction Square LLP and Valuation Square LLP . He is the member of Institute of Chartered accountants of India. ◼ Has experience in tax, regulatory, and business advisory functions ◼ Holds a bachelor’s degree in commerce from Shri Narsee Monjee College of Commerce and Economics ◼ Other Directorships held: Tarsons Products Ltd , Aurbindo Pharma Ltd , Himadri Specilaity Chemical Ltd, Kolte Patil Developers Ltd Preeti Gautam Mehta Independent Director ◼ Practicing advocate & solicitor and a senior partner of Kanga & Co ◼ Over 30 years of experience in corporate laws, foreign investments, M&A & PE investments, banking, franchising, and hospitality ◼ Other Directorships held: Sumitomo Chemicals Ltd, Prpten - E Gov Technlogies Ltd, JCB India Ltd Divya Sameer Momaya Independent Director ◼ Holds a bachelor’s degree in commerce from the University of Pune ◼ Partner of D. S. Momaya & Co. LLP and first director of MMB Advisors Private Limited ◼ Previously worked with BSE Limited and BSEL Infrastructure Realty Limited ◼ Other Directorships held: GTPL Hathway Ltd, Motilal Oswal Finacial Services Ltd, Motial Oswal Home Finance ltd 42 Popat B Kedar Executive Director ◼ Holds a Bachelor’s and Master’s degree in Science, specializing in Inorganic Chemistry from Shivaji University, Kolhapur. ◼ Has over 34 years of experience as a Plant Manager, previously working with Infotech Pharma Pvt. Ltd., Godavari Drugs Pvt. Ltd., and Sara Research Centre. ◼ Associated with the company since July 2005 and served as a Director at Blue Jet Healthcare Limited from December 31, 2020, to February 1, 2022. Priyanka Yadav Independent Director ◼ Ms. Priyanka Yadav, a Fellow Member of ICSI, holds bachelor's, master's, and law degrees from the University of Mumbai. ◼ She leads Priyanka Yadav & Associates with 6+ years of experience in corporate laws, NCLT matters, and compliance. ◼ An expert in listing compliance, IPOs, and corporate restructuring, she advises on governance and legal due diligence.
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Thank you! BLUE JET HEALTHCARE LIMITED Registered Office 701,702, 7th Floor, Bhumiraj Costarica, Sector 18, Sanpada, Navi Mumbai Thane 400705, Maharashtra, India NSE: BLUEJET, BSE: 544009 ISIN: INE0KBH01020 Website: www.bluejethealthcare.com INVESTOR RELATIONS AT Blue Jet Healthcare Limited Sanjay Sinha, Deputy Chief Financial Officer sanjay.sinha@bluejethealthcare.com Kunal Bhoite kunal.bhoite@in.ey.com Thank you! 43 Advait Bhadekar advait.bhadekar@in.ey.com