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Piramal Pharma Limited CIN: L24297MH2020PLC338592 Registered Office: Ananta Building, Piramal Corporate Park, Opp. Fire Brigade, Kamani Junction, LBS Marg, Kurla (West), Mumbai – 400070, Maharash tra, India Tel No. +91 22 3802 3000 / 4000; Email Id: shareholders.ppl@piramal.com www.piramalpharma.com 27th October, 2026 BSE Limited P.J. Towers, Dalal Street, Fort, Mumbai- 400 001 BSE scrip code: 543635 National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051 NSE symbol: PPLPHARMA Sub: Press Release and Investor Presen tation – Unaudited Financial Results (Standalone & Consolidated) of the Compan y for the quarter and half year ended 30 th September, 2026 Dear Sir / Madam, Further to our intimation made earlier with regard to Unaudited Financial Results (Standalone & Consolidated) of the Company for the quarter and half year ended 30 th September, 2026 (‘Financial Results’), please find enclosed herewith the Press Release and the Investor Presentation on the Financial Results. The above information is also availa ble on the website of the Company at https://www.piramalpharma.com/ . You are requested to kindly take the above information on record. Yours truly, For Piramal Pharma Limited Maneesh Sharma Company Secretary & Compliance Officer Encl.: a/a
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Page 1 of 4 PRESS RELEASE Piramal Pharma Limited Announces Results for Q2 and H1 FY27 Mumbai, India | October 27, 2026: Piramal Pharma Limited (NSE: PPLPHARMA | BSE: 543635), a leading global pharmaceutical, health and wellness company, today announced its standalone and consolidated results for the Second Quarter (Q2) and Half Year (H1) ended 30th September 2026. Consolidated Financial Highlights (in ₹ Crores or as stated) Particulars Q2FY27 Q2FY26 YoY Growth H1FY27 H1FY26 YoY Growth Revenue from Operations 2,617 2,044 28% 4,887 3,977 23% CDMO 1,424 1,044 36% 2,611 2,041 28% CHG 849 644 32% 1,592 1,281 24% PCH 359 319 13% 706 621 14% EBITDA 385 224 72% 669 389 72% EBITDA Margin 14.7% 11.0% 13.7% 9.8% PAT 5 (99) 105% (64) (181) 64% Key Highlights • Broad-based Revenue Growth: Revenue grew 28% YoY in Q2FY27 and 23% YoY in H1FY27, driven by strong performance across all three businesses. • Significant Profitability Improvement: EBITDA increased 72% YoY in Q2FY27 and H1FY27, with over 350bps EBITDA margin expan sion in both periods. Th is was driven by higher capacity utilization, operating leverage, disciplined execution, and sustained cost optimization initiatives. • Robust RFP Activity and Order Inflows: Added 22 new customers and s uccessfully hosted 110 customer audits in H1FY27. • Best-in-Class Quality & Compliance : Successfully completed 12 regulatory inspections and 110 customer audits during H1FY27, while maintaining the Company’s track record of no Official Action Indicated classifications across US FDA inspections. • Upgrade FY27 Outlook: Based on the strong first -half performance and continued business momentum, we upgrade our FY27 outlook and now expect revenue growth of 19% to 20%, accompanied by meaningfully higher profitability. Nandini Piramal, Chairperson , Piramal Pharma Limited said, “We delivered a strong H1FY27, with revenue growth of 23% and EBITDA margin expansion of over 350 basis points, driven by healthy demand across our businesses, disciplined execution, and improved operating leverage. The performance was led by our CDMO business, which grew 28% on the back of strong order inflows and robust execution. Our CHG business complemented this momentum with 24% growth, supported by inhalation anesthesia sales in ex-US markets and the integration of the Kenalog, while Consumer Healthcare continued to deliver steady 14% growth through the strong performance of Power Brands and e-commerce. With H2 typically stronger than H1, we are well positioned to deliver a strong full -year performance, supported by a healthy order book, encouraging customer engagement, and continued operating discipline.”
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Page 2 of 4 Key Business Highlights Contract Development and Manufacturing Organization (CDMO): - Robust Growth: Broad-based growth across India and overseas sites, supported by healthy commercial demand, improved execution and disciplined cost management. India and North America led performance across the network. - Enhanced Profitability: Better capacity utilization and operating leverage drove a meaningful improvement in profitability. - Strong Commercial Momentum: Strong RFP activity and order inflows resulted in addition of 22 new customers during H1FY27. Phase III pipeline increased to 28 molecules from 25 as of March 2026. - Innovation and On -Patent Revenue Growth: Innovation-related revenues grew 24%, while on - patent commercial manufacturing revenues grew 39% in H1FY27. - Differentiated Capabilities: Strengthened biologics capabilities through acquisition of a controlling stake in Yapan Bio. The Lexington expansion remains on track, will add sterile fill-finish capabilities, completing the integrated ADC offering. Commissioned a new microbiology laboratory at the site. - ADC Services continued to gain momentum, with revenues up 51% YoY in H1FY27. - Deepening Customer Engagement: Successfully hosted 110 customer audits during H1FY27, reflecting continued customer engagement and confidence in the Company’s quality systems. Complex Hospital Generics (CHG): - Inhalation Anesthesia Leadership: Maintained leadership in the US Sevoflurane market with a 48% value share, while building traction in ex-US markets. (Source: IQVIA) - Kenalog® Integration: Kenalog® contributed to CHG revenue during Q2FY27 and is expected to be an important growth driver for the business in FY27. - Intrathecal Therapy: Maintained the #1 position in the US Intrathecal Baclofen market. (Source: IQVIA) - Injectable Pain Management: Continued collaboration with suppliers to ensure product availability. - Building a Differentiated and Specialty P ortfolio: Continued investments in 505(b)(2) products, complex and differentiated generics, branded products, in -licensing and co -development to strengthen the long-term portfolio. Piramal Consumer Healthcare (PCH): - Power Brands Continue to Outperform: Power Brands grew 21% YoY in H1FY27, contributing 53% of PCH sales, reflecting the strength of the core portfolio. - Strong E-commerce Momentum: Grew 32% YoY in H1FY27 and contributed 28% of PCH sales. - Innovation and Premiumization: Continued focus on fewer, larger, and higher-potential launches to enhance portfolio quality and margins. Launched the 'Vizible' range under Lacto Calamine to strengthen presence in premium skincare. - Sustained Brand Investments: Invested approximately 11% of PCH sales in media and trade promotion across digital and traditional channels to support long-term brand growth. - Bayer Distribution Agreement: The distribution agreement will naturally expire in December 2026. The transition is being jointly managed to ensure business continuity, with no material impact expected on FY27 guidance.
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Page 3 of 4 Consolidated Profit and Loss Statement (in ₹ Crores or as stated) Particulars Quarterly Half Yearly Q2FY27 Q2FY26 YoY Change Q1FY26 QoQ Change H1FY27 H1FY26 YoY Change Revenue from Operations 2,617 2,044 28% 2,270 15% 4,887 3,977 23% Other Income 36 66 -45% 89 (60)% 125 124 1% Total Income 2,653 2,109 26% 2,359 12% 5,012 4,101 22% Material Cost 906 703 29% 852 6% 1,758 1,397 26% Employee Expenses 714 611 17% 676 6% 1,390 1,230 13% Other Expenses 648 571 13% 547 18% 1,195 1,085 10% EBITDA 385 224 72% 285 35% 669 389 72% Interest Expenses 88 82 6% 88 (1)% 176 169 4% Depreciation 233 203 15% 224 4% 457 400 14% Share of Net Profit of Associates 18 15 20% 20 (9)% 37 33 12% Profit Before Tax 82 (46) 277% (7) 1,194% 74 (146) 151% Tax 77 53 44% 62 24% 139 56 149% Net Profit after Tax 5 (99) 105% (69) 107% (64) (202) 68% Exceptional item1 - - NA - NA - 21 NA Net Profit after Tax after Exceptional Item 5 (99) 105% (69) 107% (64) (181) 64% 1. Exceptional items include, one time insolvency proceeds received from a claim filed against a third-party supplier of our complex hospital generics business, with the NCLT in November 2023 Consolidated Balance Sheet (in ₹ Cr. or as stated) Key Balance Sheet Items As at 30-Sep-26 31-Mar-26 Total Equity 8,165 8,162 Net Debt 4,859 4,164 Total 13,023 12,326 Net Fixed Assets 10,448 9,784 Tangible Assets 4,923 4,843 Intangible Assets including goodwill 4,254 3,841 CWIP (including IAUD2) 1,271 1,100 Net Working Capital 2,260 2,081 Other Assets3 315 462 Total Assets 13,023 12,326 2. IAUD – Intangible Assets Under Development; 3. Other Assets include Investments and Deferred Tax Assets (Net)
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Page 4 of 4 Earnings Conference Call Piramal Pharma Limited will be hosting a conference call for investors / analysts on 28th October 2026 from 10:00 AM to 10:45 AM (IST) to discuss its Q2 and H1 FY2027 Results. The dial-in details for the call are as under: About Piramal Pharma Limited: Piramal Pharma Limited (PPL, NSE: PPLPHARMA I BSE: 543635), offers a portfolio of differentiated products and services through its 17 global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and the Piramal Consumer Healthcare (PCH) business, selling over -the- counter consumer and wellness products. In addition, one of PPL's associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market. For more information, visit: Piramal Pharma | LinkedIn Event Location & Time Telephone Number Conference call on 28th October 2026 India – 10:00 AM IST +91 22 6280 1461 / +91 22 7115 8320 (Primary Number) 1 800 120 1221 (Toll free number) USA – 12:30 AM (Eastern Time – New York) Toll free number 18667462133 UK – 04:30 AM (London Time) Toll free number 08081011573 Singapore – 12:30 PM (Singapore Time) Toll free number 8001012045 Hong Kong – 12:30 PM (Hong Kong Time) Toll free number 800964448 Express Join with Diamond Pass™ Please use this link for prior registration to reduce wait time at the time of joining the call –Click here For Investor Queries: Gagan Borana Investor Relations & Enterprise Risk Management gagan.borana@piramal.com Madhusudan Dalmia Investor Relations madhusudan.dalmia@piramal.com For Media Queries: Madiha Vahid Lead – Branding & Communications madiha.vahid@piramal.com
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 0 Q2 & H1 FY27 Results October 2026
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 1 This presentation and the accompanying slides (the “Presentation”), which have been prepared by Piramal Pharma Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation, directly or indirectly, in any manner, or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities of the Company in any jurisdiction, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever. Except for the historical information contained herein, statements in this Presentation and any subsequent discussions, which include words or phrases such as 'will', 'aim', 'will likely result', 'would', 'believe', 'may', 'expect', 'will continue', 'anticipate', 'estimate', 'intend', 'plan', 'contemplate', 'seek to', 'future', 'objective', 'goal', 'likely', 'project', 'on-course', 'should', 'potential', 'pipeline', 'guidance', 'will pursue' 'trend line' and similar expressions or variations of such expressions may constitute 'forward-looking statements'. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to Company’s ability to successfully implement its strategy, the Company’s growth and expansion plans, the performance of the Indian economy and of the economies of various international markets, obtain regulatory approvals, provisioning policies, technological changes, investment and business income, income or cash flow projections, the performance of the industry in India and world-wide, exposure to market risks as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially from results expressed in or implied by this Presentation. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections. Given these uncertainties and other factors, viewers of this Presentation are cautioned not to place undue reliance on these forward-looking statements. The information in this Presentation does not constitute financial advice (nor investment, tax, accounting or legal advice) and does not take into account an investor’s individual investment objectives, including the merits and risks involved in an investment in the Company or its securities, or an investor’s financial situation, tax position or particular needs. Past performance information in this Presentation should not be relied upon as an indication of (and is not an indicator of) future performance. This Presentation is not a prospectus, disclosure document, a statement in lieu of a prospectus, an offering circular, an invitation or an advertisement or an offer document under the Companies Act, 2013, together with the rules and regulations made thereunder, as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, or any other applicable law in India. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation, and nothing in this Presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. The Presentation has not been independently verified and any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. The contents of this Presentation are strictly confidential and may not be copied or disseminated, reproduced, re-circulated, published, advertised or redistributed, in whole or in part, to any other person or in any media, website or otherwise in any manner without the Company’s written consent. Note: Figures in previous periods might have been regrouped or restated, wherever necessary to make them comparable to current period. For the ease of presentation, certain financial information herein has been rounded off to one decimal place or two decimal places or whole numbers, as the case may be. Disclaimer
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 2 Performance Highlights
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 H1FY27: Strong All-Round Performance, Improved FY27 Outlook 3 “ H1FY27 built on the strong start to the year, driven by broad-based business momentum, strong order inflows, improved operating leverage, and continued focus on execution and productivity. “ CDMO Robust Order Inflows -- Improved Execution -- Enhanced Operating Leverage Strong growth across India and overseas sites, driven by healthy commercial demand, robust RFP activity, and strong order inflows. Added 22 new customers in H1FY27, further strengthening the growth pipeline, with momentum expected to continue in H2FY27. CHG Good Pickup in Existing Portfolio -- Kenalog® Integration Accelerating Growth Inhalation Anesthesia - Strong growth in ex-US markets; Sustained US market leadership position with 48% value share. (Source: IQVIA) Integrating Kenalog® acquisition – Contributed to Q2 revenues; Growth catalyst for FY27. PCH Power Brands & E-Commerce Drive Growth -- Premiumization Remains Key Focus Power Brands grew at 21% YoY in H1FY27. E-commerce channel delivered 32% YoY growth. Portfolio premiumization and channel optimization remain key levers for margin expansion. Strong H1FY27 performance and continued business momentum have strengthened visibility for the remainder of the year. We are therefore raising our FY27 outlook and now anticipate 19-20% revenue growth with meaningfully higher profitability. FY27 OUTLOOK Nandini Piramal Chairperson Message
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 Q2 & H1 FY27 Performance: Broad-Based Growth and Margin Expansion 4 (In ₹ Crore) 2,044 2,617 Q2FY26 Q2FY27 224 385 Q2FY26 Q2FY27 (In ₹ Crore) 28% 72% 11.0% 14.7% Q2FY26 Q2FY27 Revenue from Operations EBITDA EBITDA Margin 372 bps (In ₹ Crore) 3,977 4,887 H1FY26 H1FY27 389 669 H1FY26 H1FY27 (In ₹ Crore) 23% 72% 9.8% 13.7% H1FY26 H1FY27 391 bps
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 Q2 & H1 FY27 Performance: Healthy Momentum Across Businesses (In ₹ Crore) 2,041 2,611 H1FY26 H1FY27 1,281 1,592 H1FY26 H1FY27 (In ₹ Crore) 5 28% 24% 621 706 H1FY26 H1FY27 (In ₹ Crore) 14% (In ₹ Crore) 1,044 1,424 Q2FY26 Q2FY27 644 849 Q2FY26 Q2FY27 (In ₹ Crore) 36% 32% 319 359 Q2FY26 Q2FY27 13% (In ₹ Crore) CDMO CHG PCH
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 6 CDMO Business: Accelerating Growth Robust Order Inflows -- Improved Execution -- Enhanced Operating Leverage REVENUE PERFORMANCE ₹ crore 28% YoY 36% YoY Delivered Strong Growth With Improved Profitability • Robust demand across India and overseas sites, supported by improved execution and disciplined cost management, drove growth and profitability. • India and North America sites led performance across the network. • On-patent commercial revenues grew 39% YoY in H1FY27, ADC revenues grew 51% YoY . • With H2 typically stronger than H1, we expect growth momentum to continue through FY27. Robust RFP Activity and Order Momentum Support Future Growth • Biotech funding remains healthy, up ~60% YoY (MAT Sep'26). • Strong increase in RFP activity and order inflows across the network, resulting in the addition of 22 new customers in H1FY27. • Development Pipeline - Phase III molecules increased to 28 vs. 25 in March 2026. • Deepening Customer Engagement: Successfully hosted 110 customer audits in H1FY27. Continue to Invest in Capacities and Capabilities Across the CDMO Network • Strengthened biologics platform through the acquisition of a controlling stake in Yapan Bio. • Lexington expansion on track - strengthens sterile fill-finish capabilities, the final step of the integrated ADC platform. Commissioned a new microbiology laboratory at the site. 2,041 2,611 H1FY26 H1FY27 1,044 1,424 Q2FY26 Q2FY27
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 Key Metrices: Moving in the Right Direction 46% 49% H1FY26 H1FY27 Contribution from Innovation Related Work 278 bps Revenues from On -patent Commercial Manufacturing 39% (In US$ Mn) 40 56 H1FY26 H1FY27 Revenues from ADC Services 51% (In US$ Mn) 26 40 H1FY26 H1FY27 7
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 Focus on Differentiated Offerings: Limited Competition 8 175 253 218 86 119 FY22 FY24 FY26 H1FY26 H1FY27 32% 44% 40% 36% 43% FY22 FY24 FY26 H1FY26 H1FY27 Revenue (US$ Mn) from Differentiated Offerings Contribution of Differentiated Offerings to CDMO Revenue 38% 673 bps Potent Sterile Injectables Differentiated Offerings On-patent API Development and Manufacturing Antibody Drug Conjugates (ADC) Hormonals Spray Drying High Potent API (HPAPI) Peptide
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 Maintaining our Best-in-Class Quality Track Record 9 8 8 10 10 21 20 24 42 26 29 35 32 32 34 35 18 10 5 2 4 7 5 5 3 2 3 4 4 2 3 1 2 13 10 14 17 26 25 27 44 29 29 35 36 36 36 38 19 12 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 H1 FY26 H1 FY27 Regulatory Inspections (Ex US FDA) US FDA Inspections 60 71 116 115 140 157 167 163 141 99 148 197 172 165 209 116 110 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 H1 FY26 H1 FY27 ❖ Successfully cleared 427 total regulatory inspections including 51 US FDA inspections and 2,230 customer audits since FY2012 ❖ Successfully cleared 12 regulatory inspections and 110 customer audits in H1FY27 ❖ No ‘Official Action Indicated (OAI)’ for any of our US FDA audits 400+ Regulatory Inspections with no OAI 150+ Audits Annually by Customers
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 10 Complex Hospital Generics Business: Building Traction ₹ crore 24% YoY 32% YoY Inhalation Anesthesia – Sustaining US Leadership; Expanding Ex-US Presence • US – Maintained leadership in Sevoflurane, #1 Rank with 48% value share. (Source: IQVIA) • Ex-US Markets – Healthy pickup in RoW Sevoflurane performance. Intrathecal Therapy & Injectable Pain Management • Maintained #1 position in the US in Intrathecal Baclofen, reinforcing leadership in differentiated hospital-based therapies. • Ensuring availability of Injectable Pain Management products through focused supplier collaboration. Kenalog® Integration – Adding Impetus to Growth • Integrating Kenalog® Acquisition - Contributed to Q2FY27 revenues; An important growth catalyst for FY27. Building Portfolio of Differentiated and Specialty Products • Continued investment in 505(b)(2), complex / differentiated generics, branded products, in- licensing and co-development to strengthen long-term growth. 1,281 1,592 H1FY26 H1FY27 644 849 Q2FY26 Q2FY27 Good Pickup in Existing Portfolio -- Kenalog Integration Accelerating Growth REVENUE PERFORMANCE
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 11 Consumer Healthcare Business: Sustaining Growth Momentum Power Brands & E-Commerce Drive Growth -- Premiumization Remains Key Focus ₹ crore Power Brands & E-Commerce: Continuing Strong Performance • Power Brands continued to outperform, grew 21% in H1FY27; contributed 53% of PCH sales. • E-commerce maintained strong momentum with 32% growth in H1FY27, contributing 28% of PCH sales. New Product Launches – Fewer – Bigger – Better • Prioritized fewer, high-potential launches to enhance success rates and portfolio quality. • Continued focus on portfolio premiumization - richer mix of higher-margin products. • Introduced the ‘Vizible’ range under Lacto Calamine to address rising demand for premium skincare products and strengthen portfolio premiumization. Continuous Investments in Media & Trade Promotion • Invested ~11% of PCH sales on media and trade promotion across digital and traditional channels - Social Media, Television, Influencers, etc. Expand Multi-channel Distribution Network • Presence across 180,000+ chemists & cosmetic shops, 13,000+ modern trade outlets, and 20+ e-commerce platforms. • Expanding reach in smaller towns, modern trade, and non-chemist channels. 14% Overall YoY Growth Distribution Business Sales from Our Brands 19% PCH Brands YoY Growth 12% Overall YoY Growth 16% PCH Brands YoY Growth REVENUE PERFORMANCE 14% YoY 13% YoY 621 706 H1FY26 H1FY27 319 359 Q2FY26 Q2FY27
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 12 PCH growth driven by own Power Brands growing at +20% rate (In ₹ Crore) People-first Transition Jointly managed to protect continuity Significant field-force transition Term sheet executed Orderly transition of business at end of term Joint focus on a seamless handover Bayer Contribution and Impact Revenue in FY26 – ₹475 Crores Contribution to PPL consolidated turnover Expected impact on FY27 revenue is low at less than 2% Sales commission based arrangement – Low EBITDA margin business EBITDA margin profile significantly lower than overall PPL consolidated EBITDA margin <2% PCH Revenues 985 1,093 1,274 FY24 FY25 FY26 Power Brands 448 538 664 FY24 FY25 FY26 Improvement in PPL Consolidated EBITDA margin excluding this Bayer Sales & Distribution revenue 50bps 4.5% No Material Impact on FY27 Guidance; Own Power Brands Growing Strong and Key Driver for Future Growth Bayer Sales & Distribution Agreement: Natural Expiry in December 2026
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 AbbVie Therapeutics India Pvt. Ltd. - JV between AbbVie & PPL 13 FY2026 PERFORMANCE ₹526 Cr. Revenue 23% PAT Margin Strong profitability and established market position MARKET POSITION One of the market leaders in the Indian ophthalmology segment INTEGRATED SOLUTIONS PPL CDMO business supplies ophthalmology products to the JV MARKET LEADING BRANDS Pred Forte Eye Inflammation Lumigan Glaucoma Combigan Glaucoma Refresh Tears Dry Eyes Alphagan Glaucoma Ownership 49% Ownership 51% LEADING MARKET POSITION INTEGRATED SOLUTIONS
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 14 Financials
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 15 (in ₹ Cr. or as stated) Particulars Q2FY27 Q2FY26 % YoY Change H1FY27 H1FY26 % YoY Change Revenue from Operations1 2,617 2,044 28% 4,887 3,977 23% CDMO 1,424 1,044 36% 2,611 2,041 28% CHG 849 644 32% 1,592 1,281 24% PCH 359 319 13% 706 621 14% EBITDA 385 224 72% 669 389 72% EBITDA Margin 14.7% 11.0% 13.7% 9.8% PAT 5 (99) 105% (64) (181) 64% 1. Revenue from Operations includes foreign exchange gains/losses Consolidated Financials Highlights – Profit & Loss Statement Strong Growth Across Businesses with EBITDA Margin Expansion
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 16 Consolidated Financials Highlights – Balance Sheet Key Balance Sheet Items As on 30-Sep-26 As on 31-Mar-26 Total Equity 8,165 8,162 Net Debt 4,859 4,164 Total 13,023 12,326 Net Fixed Assets 10,448 9,784 Tangible Assets 4,923 4,843 Intangible Assets including goodwill 4,254 3,841 CWIP (including IAUD2) 1,271 1,100 Net Working Capital 2,260 2,081 Other Assets3 315 462 Total 13,023 12,326 (in ₹ Cr. or as stated) 2. IAUD – Intangible Assets Under Development 3. Other Assets include Investments and Deferred Tax Assets (Net)
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COLOR PALETTE Text 0 0 0 Title bar/Bullets 2507022 ACCENTS 1 250 70 22 254 218 208 3 86 104 123 220 225 230 4 142 151 158 232 234 236 5 252 144 115 254 233 227 6 22 76 120 193 221 244 Hyperlink 250 70 22 Followed Hyperlink 22 76 120 Lines 86 104 123 Highlights 254 218 208 TABLE 2 36 55 70 202 216 228 17 Event Location & Time Telephone Number Conference call on 28th October 2026 India – 10:00 AM IST +91 22 6280 1461 / +91 22 7115 8320 (Primary Number) 1 800 120 1221 (Toll free number) USA – 12:30 AM (Eastern Time – New York) Toll free number 18667462133 UK – 04:30 AM (London Time) Toll free number 08081011573 Singapore – 12:30 PM (Singapore Time) Toll free number 8001012045 Hong Kong – 12:30 PM (Hong Kong Time) Toll free number 800964448 Express Join with Diamond Pass Please use this link for prior registration to reduce wait time at the time of joining the call –Click here Dial-in Details for Q2 and H1 FY27 Earnings Conference Call
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For Investor Queries: Madhusudan Dalmia Investor Relations Email: madhusudan.dalmia@piramal.com Gagan Borana Investor Relations and Enterprise Risk Management Email: gagan.borana@piramal.com Our Websites:- Piramal Pharma Limited www.piramalpharma.com Complex Hospital Generics www.piramalcriticalcare.com CDMO www.piramalpharmasolutions.com