Senores Pharmaceuticals Limited has informed the Exchange about Investor Presentation
Date: December 15, 2025
To, Sr. General Manager Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001
To, Sr. General Manager Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai – 400 051
BSE Scrip Code: 544319
NSE Symbol: SENORES
Sub.: Business Update Presentation - Acquisition of Apnar Pharma Private Limited
Dear Sir/Madam,
In terms of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and our intimation dated December 15, 2025, regarding the Business Update Call, we enclose herewith Business Update Presentation - Acquisition of Apnar Pharma Private Limited.
The aforesaid information is also being hosted on the Company's website at www.senorespharma.com.
You are requested to take the same on record.
Thanking you.
For Senores Pharmaceuticals Limited
Vinay Kumar Mishra Company Secretary and Compliance Officer ICSI Membership No.: F11464
Enclosures: As above
Senores Pharmaceuticals Limited 1101 to 1103, 11th Floor, South Tower, One42, Opp. Jayantilal Park, Ambali Bopal Road, Ahmedabad-380054, Gujarat, India
P: +91 79 2999 9857 | E: info@senorespharma.com W: www.senorespharma.com | CIN No.: L24290GJ2017PLC100263
Acquisition of Apnar Pharma Private Limited
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Deal Contours
Senores to acquire Apnar Pharma Private Limited & 5 ANDA’s
About Apnar Pharma
Transaction Summary
Transaction Funding
Acquisition of 5 ANDA’s
• Apnar Pharma, incorporated on 12th December 2014, is a privately held pharmaceutical company specializing in the licensing, development, and manufacturing of generic formulations for regulated markets like US, UK & Canada The company operates a dedicated manufacturing facility in Jambusar, Gujarat Facility is approved by USFDA, MHRA & Health Canada
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Senores to Acquire 100% of Apnar Pharma Pvt Limited which has a US-FDA approved Manufacturing Facility Total Enterprise Value is ~Rs. 91 crores. ~Rs 76 crores of total debt plus excepted liabilities related to the Plant to be taken over by Senores. Balance ~Rs 15 crores to be paid in cash in two tranches (75% in first tranche, 25% in second tranche)
Equity Contribution of ~Rs. 15 crs to be funded partly from IPO proceeds earmarked for General Corporate Purposes (GCP) & Partly from Internal Accruals. Equity Contribution to be paid in 2 tranches (75% 1st tranche & 25% second tranche)
In addition to the above-mentioned acquisition, our Wholly Owned Subsidiary Senores Pharmaceuticals Inc. is acquiring a basket of 5 ANDA’s from Apnar Pharma Pvt. Ltd’s parent company.
• Of these 5 ANDA’s, 3 ANDA’s are Validated & Qualified. Commercialization of these
products to begin immediately.
Broad Timelines
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1st Tranche of the Transaction to be completed in current fiscal by March 2026 and 2nd tranche is expected to complete by Q2 of FY 2027 Ramp up within 1-3 months of acquisition
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About the Manufacturing Facility
Key Highlights of the Plant
Manufacturing facility commenced in 2021 & USFDA Approval received in
September 2022
2 land parcel available of total
land area of ~49,250 Sq. Mts. Facility constructed on 1 plot (~4,500 Sq. Mts) with construction of ~40,000 Sq. Ft. Larger plot with ample land available for future expansion
Employees Strength – 50+ Employees
Approved ANDAs/Products – 5 ANDAs/15 Strengths
Total Addressable Market of acquired products – ~$722 Mn
Currently catering to US, UK and Canada
The facility integrates manufacturing with strong multi-dosage-form R&D capabilities and an advanced Quality Control Lab dedicated to testing and releasing all finished products.
Facility is compliant with clean rooms for expansion into other dosage forms
Tablets
Capsules
Bottles
275 Mn Annual Installed Capacity
Expandable up to 600 Mn
225 Mn Annual Installed Capacity
Expandable up to 500 Mn
16 Mn Annual Installed Capacity
Expandable up to 32 Mn
Strong Regulatory Approvals
USFDA
MHRA
Health Canada
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Strategic Rationale & Synergies
Compliment our strong presence in the US and Immediate access to regulated markets like UK, Canada, and other Regulated Markets through existing approvals and infrastructure
Revenue and cost synergies through cross-selling and shift of select products manufacturing to India from US.
Expansion of product portfolio and deeper customer penetration
Enhanced CDMO/CMO opportunities leveraging existing capacities
Backward integration via in-house CMO manufacturing, improving margins and supply reliability
Improved supply chain control, quality oversight, and regulatory compliance
Strong R&D and Analytical Capability to solidify US presence by building efficiencies & support US Infrastructure
Acquisition will enhance Market Access, Long Term Growth & Margins for Senores.
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Management Commentary
Commenting on the acquisition, Mr. Swapnil Shah, Promoter & Managing Director of Senores, said:
“This acquisition marks a significant milestone in accelerating the growth trajectory of Senores Pharmaceuticals Limited. The facility will not only enhance our manufacturing capacity but also enable us to enter additional regulated markets such as UK, and Canada (in addition to the US), where we currently have limited presence. In addition to market access, the acquisition includes 5 approved ANDAs associated with the facility, representing a total market opportunity of over ~$700 million.
Mr. Swapnil Shah
Promoter & Managing Director
Through this acquisition, we will broaden our reach across regulated markets, introduce new products, and leverage the facility to manufacture select US products from India. This will improve operating leverage and support margin expansion. The facility will also strengthen our manufacturing capabilities and deepen customer relationships, creating further opportunities in the CDMO and CMO segments.
Looking ahead, we remain committed to expanding our product portfolio across regulated markets, scaling our CDMO/CMO business, accelerating growth in emerging markets, and strengthening our branded generics presence in India. Supported by our existing product portfolio, a robust pipeline, and enhanced manufacturing capabilities, we are confident in our ability to drive long-term growth and create sustained value for shareholders.”
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SENORES PHARMACEUTICALS LIMITED CONTACT US
Senores Pharmaceuticals Limited
Strategic Growth Advisors Private Limited
CIN: L24290GJ2017PLC100263
CIN: U74140MH2010PTC204285
Mr. Deval Shah – Whole Time Director & CFO
investors@senorespharma.com
Mr. Sagar Shroff / Mr. Tanay Shah sagar.shroff@sgapl.net / tanay.shah@sgapl.net +91 98205 19303 / +91 98333 91899