Zim Laboratories Limited has informed the Exchange about Investor Presentation
Ref No.: ZLL/CS/BSE/NSE
Date: 12.11.2025
BSE Limited, Market Operations Dept. P. J. Towers, Dalal Street, Mumbai- 400 001 Company Code- 541400
Dear Sir/Madam,
National Stock Exchange of India Limited Listing Compliance Department Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051 (Symbol - ZIMLAB)
Sub: Q2 & H1FY26 - Earnings Presentation
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly find enclosed Q2 & H1FY26 - Earnings Presentation.
Kindly take the intimation on record.
Thanking you,
Yours faithfully,
For ZIM LABORATORIES LIMITED
(Piyush Nikhade) Company Secretary and Compliance Officer Membership No. A38972
Encl : As above.
ZIM LABORATORIES LIMITED __________________________________________________________________________________________ www.zimlab.in I info@zimlab.in I CIN : L99999MH1984PLC032172
Works : B-21/22, MIDC Area, Kalmeshwar – 441 501 Dist. Nagpur Maharashtra, India. Ph. + 91.718.271370 I Fax : +091.7118.271470
Regd. Office : Sadoday Gyan (Ground Floor), Opp. NADT, Nelson Square, Nagpur – 440013. Maharashtra, India. Ph. +091.712.2981960
ZIM LABORATORIES LIMITED
E A R N I N G S P R E S E N T A T I O N
Q2 & H1FY26
www.zimlab.in
SAFE HARBOUR
The presentation has been prepared by ZIM Laboratories Limited (“ZIM” or the “Company”) solely for information purposes and does not constitute an offer to sell or recommendation or solicitation of an offer to subscribe for or purchase any securities and nothing contained herein shall form the basis of any contract or commitment whatsoever. By accessing this presentation, you are agreeing to be bound by the trading restrictions.
The information contained in this presentation should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. This presentation is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither the Company nor its affiliates, advisors or representatives are under an obligation to update, revise or affirm.
Certain statements contained in this presentation may be statements of the Company’s beliefs, plans and expectations about the future and other forward-looking statements. The forward-looking statements are based on management’s current expectations or beliefs as well as a number of assumptions about the Company’s operations and facto beyond the Company’s control or third-party sources and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Forward looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. There is no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward looking statements, which speak only as of the date of this presentation.
The Company, as such, 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 or opinions contained herein. You acknowledge and agree that the Company and/or its affiliated companies and/or their respective employees and/or agents have no responsibility or liability (express or implied) whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action, suits, losses, expenses, damages or costs) which may be brought against or suffered by any person as a result of acting in reliance upon the whole or any part of the contents of this presentation and neither the Company, its affiliated companies nor their respective employees or agents accepts any liability for any error, omission or misstatement, negligent or otherwise, in this presentation and any liability in respect of the presentation or any inaccuracy therein or omission therefrom which might otherwise arise is hereby expressly disclaimed.
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CONTENT
01
02
03
04
05
Q2 & H1FY26 - HIGHLIGHTS
MANAGEMENT’S PLAN FOR CAPA REMEDIATION
BUSINESS MIX
R&D & INNOVATION
SHAREHOLDING
3
Q2 & H1FY26 HIGHLIGHTS
Financial Highlights (Q2FY26)
Total Operating Income stood at ₹887 Mn in Q2FY26, marking a 23.6% increase over the previous quarter Q1FY26
EBITDA at ₹78 Mn, up 36.8% from Q1FY26; EBITDA margins improved to 8.8% in Q2FY26, up from 7.9% in Q1FY26
₹19 Mn was added to Gross Block with investments in business expansion and registrations in Q2FY26
Total R&D spend at ₹76 Mn, accounting for 8.6% of Total Operating Income in Q2FY26
Financial Highlights (H1FY26)
Total Operating Income at ₹1,605 Mn, declined by 7.8% in H1FY26 vs ₹1,740 Mn in H1FY25
EBITDA is at ₹135 Mn, declined by 32.2% in H1FY26 vs ₹199 Mn in H1FY25; margins at 8.4% from 11.4%
₹72 Mn invested in Capex including ₹51 Mn towards BE studies and regulatory filings in H1 FY26
Total R&D spend was at ₹155 Mn, accounting for 9.7% of the Total Operating Income in H1FY26
The critical observation after EU-GMP audit has impacted commercialization plan for EU
4
MANAGEMENT’S PLAN FOR CAPA REMEDIATION
Q2 FY26
Q3 FY 26
Q4 FY26
Q1 FY27
June / July EU GMP Inspection
Submission of CAPA Progress for upto October 2026
Submission of CAPA Progress
Registration of Products in Alternate Markets
Onboarding External Consultant for CAPA Plan
Submission of CAPA Remediation Plan
Capital Expenditure Orders Placed
Contract Manufacturing for alternate site with specific accreditations finalised for Star Product 1
Appointment of European Consultant for CAPA Remediation
Strengthening Team in QMS
Training of Team
Validation by Consultants
Triggering Audits from other regions
Filing Batches From CMO Partners for Registration of Star Product 1
Additional CMO for specific markets being finalized
Pre - Audit by External Consultants
Feedback on Alternate Audits
Launch of Star Product 1 in Alternate Markets
Extend alternate manufacturing strategy to other markets
Independent assessment of CAPA progress and remediation by European + Indian consultant
Effectiveness check on CAPA remediation progress
Potential Re-Audit of facility by EMA inspectors
5
FINANCIAL PERFORMANCE – H1FY26
Total Operating Income (Rs Mn)
EBITDA (Rs Mn) & EBITDA margin
Profit After Tax (PAT) (Rs Mn) & PAT margin
11.4%
8.4%
1.9 %
-1.4%
1740
1605
199
135
H1 FY25
H1 FY26
H1 FY25
H1 FY26
33
H1 FY25
H1 FY26
(23)
o Total Operating Income at ₹1605 Mn in H1FY26, reflecting a degrowth of 7.8% compared to H1FY25
o EBITDA at ₹135 Mn, degrowth 32.2% from H1FY25; EBITDA margins declined to 8.4% from 11.4% in H1FY25 owing to reduction in the topline
o PAT was negative at (₹23 Mn) on account of lower topline and increased depreciation and finance costs
6
FINANCIAL PERFORMANCE – Q2 FY26
Total Operating Income (Rs Mn)
EBITDA (Rs Mn) & EBITDA margin
Profit After Tax (PAT) (Rs Mn) & PAT margin
11.8%
7.9%
8.8%
2.6%
-2.6 %
-0.5%
922
887
718
109
24
57
78
Q2 FY 25
Q1 FY 26
(4) Q2 FY 26
(19)
Q2 FY 25
Q1 FY 26
Q2 FY 26
Q2 FY 25
Q1 FY 26
Q2 FY 26
o Total Operating Income at ₹887 Mn, reflecting a 23.6% growth with respect to the previous Quarter Q1 FY26
o EBITDA at ₹78 Mn, up 36.8% from Q1FY26; EBITDA margins improved to 8.8% in Q2 FY26, up from 7.9% in Q1FY26
o PAT was negative at (₹4 Mn) in Q2FY26 recovered from negative (₹19 Mn) in Q1FY26 due to increased revenue
7
BUSINESS MIX
Pharma Revenue (₹ Mn) & Contribution to Total Operating Income (%)
Nutra Revenue (₹ Mn) & Contribution to Total Operating Income (%)
67%
71%
77%
82%
78%
83%
33%
29%
654
739
552
732
560
891
266
268
23%
224
18%
196
22%
17%
158
155
Q1FY25
Q2FY25
Q3FY25
Q4FY25
Q1FY26
Q2FY26
Q1FY25
Q2FY25
Q3FY25
Q4FY25
Q1FY26
Q2FY26
o Q2FY26: Pharma business contributed to 83% (₹ 732 Mn) of total revenue, while Nutra contributed 17% (₹ 155 Mn). Pharma business
contribution increased 30.7% QoQ and 11.9% YoY
o Q2FY26: Decrease in the Nutra business mainly due to domestic business shortfall. Domestic Nutra business was ₹ 38 Mn in Q2FY26 vs ₹ 50
Mn in Q1FY26
8
REVENUE MIX
137, 15%
27, 3%
32, 4%
127, 14%
59, 4%
48, 3%
214, 12%
227, 14%
Q2FY25
Q2FY26
H1FY25
H1FY26
758, 82%
728, 82%
1467, 84%
1330, 83%
Export
Domestic
Deemed Export
Export
Domestic
Deemed Export
Export
Domestic
Deemed Export
Export
Domestic
Deemed Export
Numbers in ₹Mn
o Q2FY26: Export business declined by 4% but there is no change in the export business contribution on QoQ basis reaching ₹728 Mn (82%) in
Q2FY26 vs ₹758 Mn (82%) in Q2FY25
o H1FY26: Export business declined by 9.4% YoY at ₹1,330 Mn (83%) in H1FY26 vs ₹1,467 Mn (84%) in H1FY25
9
INNOVATIVE PRODUCT CONTRIBUTION
(NIP + OTF) Revenue (₹ Mn) & Contribution to Total Operating Income (%)
21.8%
17.8%
14.0%
13.5%
178
164
135
147
9.2%
81
6.3%
46
12.7%
109
8.5%
82
9.5%
112
Q2 FY 24
Q3 FY 24
Q4 FY 24
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
o Q2FY26: NIP + OTF operating income grew 78% QoQ to ₹81 Mn, up from ₹46 Mn in Q1FY26 and declined by 51% compare with Q2FY25.
o H1FY26: NIP + OTF operating income declined by 63% YoY to ₹127 Mn for H1FY26, down from ₹343 Mn in H1FY25; NIP was ₹54 Mn & OTF was
₹73 Mn for H1FY26; contribution to total operating income was 12.5% including licensing fees (₹29 Mn)
10
ADVANCING INNOVATION : NIP PRODUCT PIPELINE (EU/UK)
Product
Therapy Area
Market Review
Formulation Development
Validation
BE Studies
Regulatory Filing
MA Received
Commercial Supplies
Product 1
Urology
Product 2
Gastrointestinal
Product 3
Anti – Coagulant
Di-Methyl Fumarate
CNS
Product 5
Urology
Product 6
Rheumatoid Arthritis
Azithromycin Suspension
Anti - Infective
Product 8
Analgesic
Product 9
Gastrointestinal
Product 10
Gastrointestinal
Product 11
Skin Disorders (Anti psoriatic)
Product 12
Urology
11
ADVANCING INNOVATION : OTF PRODUCT PIPELINE (EU/UK)
Product
Therapy Area
Market Review
Formulation Development
Validation
BE Studies
Regulatory Filing
MA Received
Commercial Supplies
Rizatriptan
CNS
Sildenafil
Erectile Dysfunction
Product 3
CNS
Product 4
Erectile Dysfunction
Buprenorphine
Opioid De Addiction
12
R&D DRIVING PRODUCT INNOVATION
R&D Expense Mix % of Total R&D Investment and Total R&D Investment as % of Total Operating Income
89
2
75
R&D Team Size
PhDs
Post- Graduates
7
4
₹155 Mn
NIP Filed in the EU to date
Versatile Technology Platforms
Allocated in H1FY26 on Opex, Facility, BE Studies, Registrations, etc.
9.7%
37%
2%
61%
9.7%
29%
1%
70%
Capital Expenses on BE study, registrations etc
Capital Expenses on Infrastructure & Equipment
R&D Expenses in P&L (Employee; Material,BE-Study etc.)
H1FY25
H1FY26
o H1FY26: ₹46 Mn allocated for BE studies and registrations, advancing the Innovative Products (NIP + OTF) pipeline
o Q2FY26: Total R&D allocation of ₹19Mn focused on product development, dossier upgrades, registrations and infrastructure
13
INCOME STATEMENT
Particulars (₹ Mn)
Q2FY26
Q2FY25
H1FY26
H1FY25
Total Operating Income
Other Income
Total Income
EBITDA
EBITDA %
Finance Cost
Depreciation
Profit/(Loss) Before Tax (PBT)
PBT %
Profit/(Loss) After Tax (PAT)
PAT %
887
20
907
78
922
13
935
109
8.8%
11.8%
31
50
(3)
(0.3%)
(4)
(0.5%)
29
50
30
3.3%
24
2.6%
0.49
EPS (₹ / Share)*(not annualised) (0.09)
YoY%
(3.7%)
53.8%
(2.9%)
(28.4%)
(303bps)
6.9%
(0.0%)
(110.0%)
(359bps)
(117.8%)
(306bps)
(118.4%)
1605
35
1640
135
8.4%
64
98
(27)
(1.7%)
(23)
(1.4%)
(0.47)
YoY%
(7.8)%
52.2%
(7.0%)
(32.2%)
1,740
23
1,763
199
11.4%
(302bps)
58
99
42
2.4%
33
1.9%
0.67
10.3%
(1.0%)
(164.3%)
(410bps)
(170.1%)
(332bps)
(170.1%)
14
BALANCE SHEET
Particulars (₹ Mn)
H1FY26
FY25
Gross Block – Tangible & Intangible Assets including WIP
Net Block – Tangible & Intangible Assets including WIP
Other Non- Current Assets
Current Assets
Total Assets
Net Worth
Borrowings
Other Non- Current Liabilities
Current Liabilities
3,526
2,334
99
2,268
4,701
2,513
1,173
118
897
3,453
2,347
60
2,313
4,720
2,522
1,122
131
945
FY24
3,089
2,031
161
2,276
4,468
2,387
1,064
130
887
FY23
2,257
1,357
150
1,909
3,416
2,003
596
58
759
Total Equities & Liabilities
4,701
4,720
4,468
3,416
FY22
1,920
1,174
121
2,121
3,416
1,757
513
11
1,135
3,416
15
KEY FINANCIALS
Gross & Net Fixed Assets (₹ Mn)
Gross Current Assets (₹ Mn) & % of Total Assets
3,089
2,031
3,453
3,526
2,347
2,334
1,920
2,257
1,174
1,357
FY22
FY23
FY24
FY25
H1FY26
Gross Fixed Assets
Net Fixed Assets
Net Worth (₹ Mn)
2,387
2,522
2,513
1,757
2,003
62%
56%
51%
49%
48%
FY22
FY23
FY24
FY25
H1FY26
Total Borrowing (₹ Mn) & Gearing %
45%
44%
47%
29%
30%
513
596
1,064
1,122
1,173
FY22
FY23
FY24
FY25
H1FY26
FY22
FY23
FY24
FY25
H1FY26
Net Worth
Total Borrowings
Gearing
16
SHAREHOLDING
Ownership % (September 2025)
Traded Volume (In K) BSE+NSE
43%
5%
33%
12%
7%
26,593
18,435
14,093
14,104
11,313
16,660
5,734
Promoter
HNI
Q4FY24
Q1FY25
Q2FY25
Q3FY25
Q4FY25
Q1FY26
Q2FY26
Body Corporates
Other Public Shareholding
• Number of Shareholders in H1FY26 accounted to 17.4K
NRI & Foreign Individuals
Percentage figures rounded off to show whole numbers
•
Promoter shareholding is free of any encumbrance
17
Investor Relations
Company Contact
Mr. Zain Daud Zim Laboratories Limited zain.daud@zimlab.in M:+91 9022434631
Ms. Sheetal Khanduja Go India Advisors sheetal@GoIndiaAdvisors.com M:+91 97693 64166
Ms. Deepika Sharma Go India Advisors deepika@goindiaadvisors.com M:+91 8451029510
Ms. Priya Sen Go India Advisors priya@goindiaadvisors.com M : +91 8334841047
Address Sadoday Gyan (Ground Floor), Opposite NADT, Nelson Square, Nagpur, Maharashtra 440013
www.zimlab.in
+91 712 2981960
18