Overview

About the Report

Accelerating Growth. Pivoting to a Stronger Future

Corporate Overview

About Us Global Footprint Industry and Business Verticals

Strategic Review

Joint Letter from Shyam S. Bhartia (Chairman) and Hari S. Bhartia (Co-Chairman & Whole-Time Director) CEO & Managing Director’s Message Performance Highlights

Drivers of Progress

The Earnings Quality has Shifted – Permanently Investment cycle enters its next phase, focussed on stronger returns Volume Strength is Real – Even as Pricing Stays Soft The CDMO & Fine Chemicals Pipeline is Accelerating – Not Just Converting Operational and Cost Discipline is Embedded New Platforms are Taking Shape Quantum Leap in Digital & GenAI Enabling Pillars of Pinnacle Strategy Board of Directors

Reports

Industry Overview Business Overview Management Discussion & Analysis Directors’ Report and Annexures Report on Corporate Governance Business Responsibility & Sustainability Reporting

Standalone Independent Auditor’s Report Standalone Balance Sheet Standalone Statement of Profit and Loss Standalone Statement of Changes in Equity Standalone Statement of Cash Flow Notes to the Standalone Financial Statements

Consolidated Independent Auditor’s Report Consolidated Balance Sheet Consolidated Statement of Profit and Loss Consolidated Statement of Changes in Equity Consolidated Statement of Cash Flow Notes to the Consolidated Financial Statements Corporate Information

PERFORMANCE HIGHLIGHTS

Delivering Consistent Growth

Total revenue: ₹4,136 crore in FY 2024, ₹4,178 crore in FY 2025, ₹4,388 crore in FY 2026 — Total Revenue (₹ in crore)

EBITDA of ₹456, ₹557 and ₹607 crore across FY 2024 to FY 2026, at margins of 11%, 13.3% and 13.8% — EBITDA & EBITDA Margin

Profit after tax of ₹183, ₹251 and ₹278 crore across FY 2024 to FY 2026, at margins of 4.4%, 6% and 6% — Profit After Tax & PAT Margin

Basic EPS: ₹11.6 in FY 2024, ₹15.9 in FY 2025, ₹17.6 in FY 2026 — Basic EPS (₹)

Net debt: ₹653 crore in FY 2024, ₹658 crore in FY 2025, ₹591 crore in FY 2026 — Net Debt (₹ in crore)

Net debt to EBITDA: 1.43x in FY 2024, 1.18x in FY 2025, 0.97x in FY 2026 — Net Debt to EBITDA (x)

Working capital days: 66 in FY 2024, 66 in FY 2025, 62 in FY 2026 — Working Capital Days (x)