TORRENT PHARMA Q2 FY27 : H2 EBITDA MARGIN EXPECTED ABOVE 33.5%, ₹450 CR JB CHEMICALS SYNERGIES AHEAD OF SCHEDULE & BRAZIL TARGETS MID-TEENS GROWTH

• MANAGEMENT EXPECTS H2 FY27 EBITDA MARGIN TO IMPROVE ABOVE Q2 LEVEL OF 33.5% • JB CHEMICALS ₹450 CR COST SYNERGY TARGET MAINTAINED, WITH MOST BENEFITS EXPECTED BY FY28, AHEAD OF ORIGINAL THREE-YEAR PLAN • APPROXIMATELY HALF OF JB COST SYNERGIES COULD BE REALIZED DURING FY27 • JB CHEMICALS OVERALL REVENUE GROWTH EXPECTED TO RECOVER TO DOUBLE DIGITS IN H2 FY27 • JB INDIA BRANDED BUSINESS GROWTH EXPECTED TO EXCEED H1 LEVEL OF 10% IN H2 FY27 • JB EBITDA MARGINS EXPECTED TO IMPROVE GRADUALLY OVER NEXT 2–3 QUARTERS, SUPPORTED BY INTEGRATION SAVINGS • INDIA REVENUE SYNERGIES FROM JB ACQUISITION EXPECTED TO CONTRIBUTE FROM FY28, WHILE INTERNATIONAL BENEFITS MAY TAKE LONGER • TORRENT INDIA BASE BUSINESS REVENUE UP 20% YOY TO ₹2,181 CR, OUTPERFORMING DOMESTIC PHARMA MARKET GROWTH OF APPROXIMATELY 12% • CURATIO BUSINESS UP 34% YOY, WITH MANAGEMENT EXPECTING STRONG GROWTH TO CONTINUE OVER NEXT COUPLE OF YEARS • INDIA FIELD FORCE EXPECTED TO REMAIN AT 9,100 DURING FY27, WITH POTENTIAL EXPANSION TO 9,500–9,600 NEXT YEAR • BRAZIL BUSINESS TARGETS DOUBLE-DIGIT TO MID-TEENS GROWTH, CLOSER TO 15%, SUPPORTED BY NEW LAUNCHES & PRODUCT PIPELINE • BRAZIL GLP-1 PRODUCT LAUNCH POSSIBLE WITHIN 6–9 MONTHS, SUBJECT TO REGULATORY APPROVAL • U.S. BUSINESS PLANS ANOTHER 4–5 PRODUCT FILINGS DURING FY27, IN ADDITION TO FOUR ALREADY FILED • R&D SPENDING EXPECTED TO REMAIN AROUND 4–4.5% OF REVENUE, WHILE REST OF WORLD BUSINESS TARGETS 6–9% GROWTH EXCLUDING JB • GERMANY BUSINESS WEAKNESS MAY CONTINUE FOR 3–4 QUARTERS, WHILE U.S. PRICE EROSION, JB INTERNATIONAL INTEGRATION & NET DEBT/EBITDA OF 1.8X REMAIN KEY RISKS

TORRENT PHARMACEUTICALS L

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