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Jagsonpal Pharmaceuticals Limited Q2 & H1 – Performance Highlights 28 th O c t o b e r 2 0 2 6 ACCELERATION IN PLAY • Organic momentum • Inorganic skill • Strategic reset • Financial strength
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Safe Harbor D I S C L A I M E R This presentation contains statements that constitute “forward looking statements” including and without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, such statements reflect various assumptions concerning future developments and several risks, uncertainties and other important factors that could cause actual developments and results to differ materially from our expectations. These factors include, but not limited to: 1) change in the general market and macro- economic conditions, 2) governmental and regulatory trends, 3) successful implementation of our strategy, R&D efforts, growth & expansion plans and technological changes, 4) movements in currency exchange and interest rates, 5) increase in the competitive pressures and technological developments, 6) changes in the financial conditions of third parties dealing with us, 7) changes in laws and regulations that apply to our customers, suppliers and the pharmaceutical industry. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of Jagsonpal Pharmaceuticals Limited may vary materially from those described in the relevant forward- looking statements. The information contained in this presentation is current, and if not stated otherwise, made as of the date of this presentation. The Company undertakes no obligation to update or revise any information in this presentation because of new information, future events or otherwise. This presentation is for information purpose only and is not a prospectus, a statement in lieu of a prospectus, an offering circular, an advertisement or an offer document under the Companies Act, 2013, as amended, or the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, or any other applicable law in India. 2
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation A quarter of building, ahead of a year of acceleration MANAGING DIRECTOR’S MESSAGE Manish Gupta Managing Director “ In Q2FY27, our focus was to build the platform for our next leg of growth. While our core business grew 9.3% on a like-for-like basis with a 70 bps gross margin expansion, the consolidated revenue stood at₹964 million as Aequitas became part of the Group, reflecting a 29% growth. This growth will further accelerate from Q3 as the recently acquired Wellness portfolio of Group Pharma will start contributing. We deliberately invested ahead of growth: a strengthened hospital team, a new business head at Aequitas and investments in marketing inputs and foundation planning towards integrating the Wellness portfolio of Group Pharma from 1st October, 2026. While these kept EBITDA flat with a 22.7% margin, we are confident of these investments reflecting in our profitability from Q3 onwards. The trajectory is clear. We expect quarterly revenues to cross ₹1,000 Mn in Q3, FY27 and are on track to achieve our Mission 2028 of ₹5,000 million annual revenue. With cash balance of ₹1,350 million, asset-light business model and successful track-record of inorganic growth, we stay confident of adding multiple, accretive transactions to fast-track this journey. Organic momentum Inorganic scale Strategic reset Financial strength 3 “
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Q2 & H1FY27 performance Accelerating growth, gross margin expansion and a calibrated step-up in investment
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Business Updates - Acceleration on every front Organic, inorganic, strategic and financial levers are all moving at once T H E L A S T S I X M O N T H S Organic • ~9.3% growth in Q2; H1 sales up 9.0% • Q2 Gross margin up 10.5%, up 70 bps • MR productivity improves by 10% • Hospital team strengthened Inorganic • Aequitas Healthcare consolidated from Q2 • Completed acquisition of Wellness Portfolio of Group Pharma on 1st October 2026 • Strong balance sheet to fund further inorganic opportunities Strategic • Entry into hospital channel with 1,000+ hospitals access • Business head appointed at Aequitas; leadership strengthened • Strategic reset at Aequitas with a focus on margins • First value-added product launch Financial • Enhanced dividend payout of 200%, • H1 EBITDA up 11% to ₹375 Mn • H1 Net profit up 10% to ₹258 Mn • Cash position at ₹1,347 Mn 5
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Pillars for the next leg of growth Investments front-ended in Q2; the benefits to reflect from Q3 W H E R E T H E I N V E S T M E N T W E N T Hospital team Hospital team strengthened to cross-sell JPL brands in Aequitas’ 1,000+ hospital network Aequitas reset Supply chain streamlined, overall cost rationalized. New business head appointed Group Pharma’s Wellness Portfolio Marketing inputs and foundation planning towards integrating the wellness portfolio from 1st October 2026 6
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Transformation to a multi-channel specialty platform Key strategic developments YTD FY27 T H E N V S N O W Y T D F Y 2 0 2 6 Y T D F Y 2 0 2 7 Acquired businesses 1 Yash Pharma business 3 + Aequitas Healthcare and the Group Pharma wellness portfolio Hospital channel None No institutional presence 1,000+ hospitals, plus institutional tenders, via Aequitas Doctor reach 1,23,000+ doctors 1,37,000+ doctors Therapy breadth 3 Gynae, Ortho, Derma 4+ Scale ₹75 Cr Q2FY26 (standalone) ₹97 Cr Q2FY27 (consolidated) Group Pharma wellness portfolio acquisition under a Business Transfer Agreement (Sept 2026) - doctor reach included above. 7 Critical Care and strengthened wellness portfolio
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Power brands: niche leaders driving growth Top 10 brands make up ~58% of revenue, and 9 of them rank in the top 5 of their markets B R A N D F R A N C H I S E Brand MAT (₹ Cr) Molecule MAT (₹ Cr) Rank Brand Sep'26 Sep'25 Gr% Sep'26 Sep'25 Gr% 1 Indocap 40.4 38.7 4.5% 54.1 51.5 5.0% 2 Maintane Inj. 35.9 26.8 33.7% 175.0 140.1 24.9% 2 Metadec 26.5 24.0 10.2% 147.5 145.2 1.6% 1 Lycored 21.2 17.7 19.6% 101.9 92.1 10.7% 2 Equirex 13.5 13.7 -1.2% 125.9 112.4 12.0% 19 Divatrone 12.6 10.7 17.4% 1,287.1 1,174.7 9.6% 1 Maintane Tab 14.9 8.9 67.7% 25.7 20.5 25.4% 3 Endoreg 10.9 9.2 18.9% 92.3 97.3 -5.1% 4 Doxypal DR-L 8.6 8.3 2.6% 259.1 239.1 8.4% 4 PRU 5.7 4.5 26.6% 301 276.5 8.9% 7 out of top 10 brands outperforming the market. Source: Pharmarack. Rank = brand rank within its molecule market. 8
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Y o Y H I G H L I G H T S Q2 & H1FY27: Strong growth across Revenue, EBITDA and PAT Profit grew faster than sales; EBITDA held broadly flat as we invested ahead of growth All values in ₹ Mn Revenue from Operations Gross Profit & Margin EBITDA* & Margin PAT & Margin ■ Q2FY26 ■ Q2FY27 ▲ +69 Mn (+9.3%) 745 814 ▲ +50 Mn (+10.6%) 472 522 ▲ +5 Mn (+2.5%) 180 185 ▲ +0.1 Mn (+0.1%) 126 126 ■ H1FY26 ■ H1FY27 ▲ +135 Mn (+9.0%) 1,501 1,636 ▲ +99 Mn (+10.3%) 959 1,058 ▲ +38 Mn (+11.3%) 337 375 ▲ +24 Mn (+10.3%) 234 258 *Before ESOP cost. Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation | 5 64.1% 24.2% 22.7% 16.9% 15.5% 63.9% 64.7% 22.5% 22.9% 15.6% 15.8% 63.4%
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Income statement All values in ₹ Mn S T A N D A L O N E F I N A N C I A L S Particulars Q2FY27 Q2FY26 YoY % H1FY27 H1FY26 YoY % Revenue from Operations 814 745 9.3% 1,636 1,501 9.0% Total Expenses (629) (564) 11.5% (1,261) (1,163) 8.4% EBITDA* 185 180 2.5% 375 337 11.3% EBITDA Margin* 22.7% 24.2% -151 bps 22.9% 22.5% +46 bps Other Income 22 30 -26.3% 51 59 -13.5% ESOP Cost (17) (16) 6.9% (35) (31) 14.1% Depreciation (17) (24) -29.5% (38) (47) -19.3% EBIT 173 171 1.4% 352 318 11.0% EBIT Margin 21.3% 22.9% -165 bps 21.5% 21.2% +38 bps Finance Cost (3) (3) -5.3% (5) (5) -3.3% Exceptional Items (2) - N.A. (2) - N.A. PBT 168 168 0.1% 345 312 10.5% PBT Margin 20.7% 22.6% -190 bps 21.1% 20.8% +27 bps Tax (42) (42) 0.0% (87) (79) 10.9% PAT 126 126 0.1% 258 234 10.3% PAT % 15.5% 16.9% -141 bps 15.8% 15.6% +19 bps Q2 Highlights • Revenue growth of ~9.3% YoY • Gross margin up 70 bps; contribution higher by 10.5% • EBITDA at ₹185 Mn, margin at 22.7% • Exceptional item in Q2’27 represents cost relating to Aequitas acquisition * EBITDA and EBITDA margin calculated pre-ESOP. 10 H1 Highlights • Revenue growth of ~9.0% YoY • Gross margin up 75 bps; contribution higher by 10.3% • EBITDA at ₹375 Mn, margin at 22.9% • PAT at ₹258 Mn, margin at 15.8%
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Key Balance Sheet Items All values in ₹ Mn Particulars 30-Sep-26 30-Jun-26 30-Sep-25 Shareholders Funds 2,438 2,548 2,528 Tangible Assets 6 6 6 Investments in Subsidiaries 208 0 0 Intangibles 750 763 818 Right of Use Assets 60 64 76 Financial Assets (Cash & Equivalents) 1,347 1,700 1,604 Other Non-Current Assets (Net) 25 28 51 Lease liabilities 75 78 88 Net Working Capital 151 120 116 11 • Aequitas acquired for an all-cash consideration of₹208 Mn • Enhanced dividend payout of₹264 Mn Q2 Highlights S T A N D A L O N E F I N A N C I A L S
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Income statement All values in ₹ Mn C O N S O L I D A T E D F I N A N C I A L S Particulars Q2FY27 H1FY27 Revenue from Operations 964 1,786 Total Expenses (778) (1,406) EBITDA* 186 377 EBITDA Margin* 19.3% 21.1% Other Income 23 51 ESOP Cost (17) (35) Depreciation (22) (43) EBIT 169 349 EBIT Margin 17.6% 19.5% Finance Cost (3) (5) Exceptional Items (2) (2) PBT 164 341 PBT Margin 17.0% 19.1% Tax (41) (86) PAT 123 255 PAT % 12.8% 14.3% * EBITDA and EBITDA margin calculated pre-ESOP. 12
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Key Balance Sheet Items All values in ₹ Mn Particulars 30-Sep-26 Shareholders Funds 2,407 Non-Controlling Interest 36 Tangible Assets 6 Intangibles 977 Right of Use Assets 68 Financial Assets (Cash & Equivalents) 1,360 Other Non-Current Assets (Net) 147 Lease liabilities 83 Net Working Capital 184 13 C O N S O L I D A T E D F I N A N C I A L S
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Inorganic acceleration Three acquisitions, three new growth vectors and a clear integration playbook
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation A proven acquisition engine, now running faster A strong balance sheet, a proven playbook and a clear pipeline O U R I N O R G A N I C J O U R N E Y May 2024 New therapy areas Entry into Dermatology & Paediatrics; EBITDA margin improved from ~10% to ~22% July 2026 Hospital channel 1,000+ hospitals and 4,000+ doctors; targeting ~₹10 Cr EBITDA by 2028 October 2026 Wellness entry Established brands in wellness across 6 states Next + Disciplined pipeline Expanding into adjacent therapeutic and consumer segments FY23 → TODAY ~99,750 → 1,37,000+ Doctors 0 → 1,000+ Hospitals covered ~2,000 → ~3,500 Stockists 700+ → 1,100+ Medical reps 2 → 4+ Therapy areas 15
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Aequitas: strategic reset in first quarter Streamlined costs; focus on margins; impact to be visible from Q4 AEQUITAS HEALTHCARE • ACQUIRED JULY 2026 85% Stake acquired ₹20.8 Cr All-cash consideration ₹53.3 Cr FY26 revenue NIL Debt Supply chain streamlined Procurement and distribution consolidated with JPL Overall cost brought down Duplicate overheads removed; leaner cost base Business head appointed Leadership strengthened for focused execution Strategic reset on margins Rationalising portfolio towards profitable growth First value-added launch Launch of first value-added product Hospital cross-sell JPL hospital team boosted to sell into 1,000+ hospitals Impact visibility from Q4FY27 onwards → targeting ~₹10 Cr EBITDA by 2028 16 Value Creation Planned in Line
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Wellness Portfolio of Group Pharma : Ready Integration Playbook Group Pharma Wellness Portfolio • ACQUIRED OCT 2026 Integrated within the largest division Deeper penetration in key markets: MP , UP and Karnataka Induction and Product Trainings completed Impact to be visible from Q3FY27 onwards 17 Deepens wellness portfolio with significant growth opportunity and PAN India presence 1,27,000+ Doctors Pan-India Presence 1,000+ Field force ~10,000+ Doctors 6 states Presence ~120+ Field Force Cross-sell of acquired brands through JPL’s existing field force to drive incremental volumes Cost synergies across the supply chain, including procurement and distribution Value Creation Opportunities - Wellness portfolio
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Yash Pharma: proof that our integration playbook works Internal-accruals-led acquisition that took us into Dermatology and Paediatrics ACQUISITION • MAY 2024 • FULLY INTEGRATED EBITDA margin of the acquired business ~10% At acquisition ~22% Today • Product portfolio streamlined, newer growth engines added • Cost structures aligned around entire support function viz. Procurement, Distribution, Finance, HR and IT. • Established superior work culture across the people front through improved allowances and incentives • Working-capital cycle aligned, freeing cash for new opportunities 5 decades of experience 250+ field strength 24,000+ Doctors covered ~67% sales from East & West New segments: Dermatology & Paediatrics, complementing JPL’s Gynaecology & Orthopaedics strength 18
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation On the road to a ₹5,000 Mn organization Organic growth from core brands and launches along with inorganic growth from Aequitas & the wellness portfolio O U R T W O- Y E A R M I S S I O N 01 Strengthen Women’s Health & Orthopaedics Deepen our strongest categories 02 Field-force productivity Stable leadership, better retention; target >₹3.5 lakh/MR/month 03 Disciplined inorganic growth Selective, value-accretive acquisitions 04 Expand therapeutic reach Add complementary, sub-chronic therapy areas 05 Sustain operating excellence Asset-light, cash-generative model with margin expansion 19 2872 5000 FY26 Mission 2028 Revenue trajectory (₹ Mn)
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About Jagsonpal A legacy of quality and trust since 1964
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation A legacy of ‘Quality and Trust’ since 1964 A 100% India-centric, asset-light branded-generics company in sub-chronic therapies W H O W E A R E 50,000+ doctors trust us nationwide 4,000+ towns & cities, via 1,200+ distributors #8 rank in corporate CVM (CMARC RPM) Quality culture CMOs fully compliant with WHO-GMP and ISO 9001:2015, with 300+ quality checks Power brand portfolio Top 10 brands contribute 58%; 9 brands rank in the top 5 Inorganic capability Disciplined integration driving profitability and margins Asset-light operations Outsourced R&D and manufacturing; growth without capital strain Therapy expertise Branded generics, trade generics & OTC across key therapies Promoter conviction Strategic alignment towards long-term value creation 21
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Strong presence in key therapies Ranked #8 in corporate CVM (as per CMARC RPM) T H E R A P Y L E A D E R S H I P Gynaecology #7 CVM rank ~90% doctor coverage 35,000 of 39,000 gynaecologists engaged Leaders in the progesterone therapeutic segment Orthopaedics #2 CVM rank ~80% doctor coverage 10,000 of 13,000 orthopaedics engaged Strong in osteoporosis and osteoarthritis Dermatology #30 CVM rank ~40% doctor coverage 4,500 of 11,500 dermatologists engaged Demelanizing, antifungals and anti- histamines Wellness Portfolio Multi Vitamins, Haematinics and Gut health 22 With integration now complete, focused execution & portfolio leveraging will strengthen JPL's position in wellness segment
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Consistent operational excellence, FY22–FY26 PAT 2.4x, cash balance 2.5x and free cash flow 8x over four years T R A C K R E C O R D Revenue (₹ Mn) CAGR 7.2% 2,176 2,872 FY22 FY26 Gross profit (₹ Mn)* CAGR 9.1% 1,286 1,829 FY22 FY26 Op. EBITDA (₹ Mn)* CAGR 24.9% 250 609 FY22 FY26 Operational PAT (₹ Mn) CAGR 23.9% 189 446 FY22 FY26 Cash position (₹ Mn) 2.5x 762 1,907 FY22 FY26 FCF (₹ Mn)* 8x 77 614 FY22 FY26 * FCF = CFO +/-changes in WC − capex − lease rentals. 23
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation Excellence across every parameter Working capital down 69%, dividend payout up 2.5x, PAT margin up 700 bps and FCF conversion at 92% C A P I T A L E F F I C I E N C Y & R E T U R N S NWC days 59 → 11 FY22 → FY26 −69% NWC as % of sales 16.1% → 3.8% FY22 → FY26 Leaner FCF conversion (FCF / EBITDA) 52% → 92% FY22 → FY26 +40 ppts Dividend payout 80% → 200%** FY22 → FY26 2.5x Margin expansion, FY22 vs FY26 (%) 59 12 9 64 21 16 Gross margin EBITDA margin PAT margin FY22 FY26 ** FY26 dividend includes a one-time special dividend of 75%. 24
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation A high-impact, asset-light model Capital-intensive activities are outsourced, so growth needs little capital H O W W E O P E R A T E 01 Ideation In-house ideation of innovative drug concepts; 1–2 new launches every quarter 02 Research & development Partnerships with leading CDMO players for product R&D 03 Contract manufacturing Partnerships with leading Indian CMOs for manufacturing 04 Pan-India distribution 18 stocking points for last-mile delivery Large, well-trained workforce 1,100+ medical reps Innovation Niche molecules, dominant share Lean operations Asset-light model Inorganic growth Strategic acquisitions 25
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Jagsonpal Pharmaceuticals Ltd | Q2FY27 Investor Presentation MySakhi: where business meets social impact Empowering women and communities through health, hygiene and relief C S R H I G H L I G H T S A dedicated platform offering educational resources, health tools and community support focused on women’s health, with self-testing kits, discounted lab tests and an online forum. Sanitation 20 pink toilet blocks are functional (9 in FY25-26) and 5 are under construction. 10,772 girl students benefited Sanitary pad vending machines and incinerators installed across Gurugram, Punjab and Maharashtra Awareness 24 Specialist led webinars on Menopause, nutrition, bone health & mental wellness 1,309 participants engaged New Initiative FOGSI steered initiative on creating awareness for advancing Early Diagnosis of Menstrual Health. Relief Assam & Punjab flood relief Medicines distributed to affected people Timely access to essential healthcare support during emergencies 26
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Thank you JAGSONPAL PHARMACEUTICALS LTD. Registered Office: Innov8 3rd Floor, Plot No. 211, Okhla Phase-3, New Delhi – 110020 INVESTOR RELATIONS Soumya Chhajed soumya@goindiaadvisors.com +91 8619707750