Zim Laboratories Ltd

- No plans to increase borrowings any further this year; borrowing and finance cost expected to remain constant. (Page 21) - Preferential allotment of INR 35 crore to Florintree Trinix LLP has already been utilized/planned for three main projects including enzyme NIP suite, nutraceutical plant expansion, and CAPA. (Page 16) - No explicit mention of fresh equity fundraising apart from recent preferential allotment; future fundraising details not indicated in the transcript. - Overall, the company is managing existing debt and capex through internal resources and prior fundraises without new debt or equity planned in the immediate term. (Pages 16, 21)

- Majority of CapEx related to 17 innovative products (NIP and OTF) is near completion; only last stages left, no significant further investment anticipated. - Recent preferential allotment of INR 35 crore raised for three main projects: dedicated enzyme NIP suite, nutraceutical plant expansion, and CAPA remediation. - Enzyme product CapEx largely completed, currently only maintenance CapEx planned. - New block/facility created to cater to increased capacity for certain products, though existing plants can also manufacture. - No plans to increase borrowings further; prefer issue money to be used for CapEx. - Strategic investments include alternate certification and site transfer activities to ensure business continuity. - Company is digitally upgrading for quality and data integrity improvements, investing in systems like German environmental monitoring and e-logbooks as part of CAPA.

- Steady growth expected in Oral Thin Films (OTF), with significant revenue anticipated in FY27 due to new partnerships and increased local manufacturing focus. - NIP (Novel Innovative Products) and OTF businesses projected to grow in FY27 despite EU GMP delays, driven by dossier approvals in RoW and pharmerging markets. - Target to have 50% of business from NIP and OTF innovative products, with ~30% from regulated markets and ~20% from RoW/pharmerging markets in coming years. - Anticipated 10-15% annual overall revenue growth, with margins improving to mid to upper teens percentage post-CAPA remediation and EU GMP approval. - Full commercialization of 17 NIP plus OTF products expected within 24 months, supporting sustained revenue ramp-up. - Expected EBITDA margins in upper teens (~20% range) as ramp-up and regulatory approvals progress. - Continued investment in R&D balanced with operational readiness for disciplined execution and scale-up.

- FY27 growth is expected despite ongoing geopolitical and regulatory challenges, with revenue growth projected from NIP and OTF products, especially from rest of world (RoW) and pharmerging markets (Pages 28, 29). - EU GMP approval anticipated within 2-3 months (around Q3 FY27), enabling commercial shipments from Q4 FY27 and supporting regulated market revenue growth (Pages 14, 30). - NIP plus OTF revenues targeted to grow significantly, aiming to reach about 50% of total business over the medium term; commercialization of 17 products expected within 24 months (Pages 17, 22, 29). - EBITDA margins projected to improve to mid to upper teens percentage post EU GMP certification and scale-up (Page 28, 13). - Stable sustainable NIP run rate around INR 16-18 crore expected, with potential upside as new markets open (Page 20). - Continued investment in R&D with selective increase in product pipeline supports future earnings growth (Page 14). - Overall conservative revenue growth of 10-15% per year targeted, margin expansion expected post remediation and scale-up (Page 15, 28).

- The transcript does not explicitly provide specific figures or details about the current or expected order book or pending orders for Zim Laboratories Limited as of Q4 FY26. - However, it is noted that the company is awaiting EU GMP certification, expected within 2-3 months from the call date (May 2026), which will enable commercial orders, especially for new innovative products (NIP) and Oral Thin Films (OTF). - Commercialization of 17 products within the next 24 months is projected, conditional on regulatory approvals and EU GMP certification. - The company expects significant revenue growth from OTF this year due to strategic partnerships, particularly in the Middle East. - Post EU GMP certification, NIP products are expected to start generating revenue in Q4 FY27. - There is a focus on recovering and expanding business in regulated markets and ROW markets via these approvals. - No concrete order book numbers were shared during the call.