Business Performance Review

Strong Returns Indicators ROICE Fixed Assets Turnover Working Capital Days 40% 202 36% 176 171 34% 36% 3.4 3.3 152 170 31% 2.9 2.9 2.8 98 102 104 99 89 152 136 120 116 126 FY20 FY21 FY22 FY23 H1 FY24 FY20 FY21 FY22 FY23 H1 FY24 -48 -43 -53 -67 -60 . ROICE is tracking at ~36% - Higher capital employed driven by calibrated Capex strategy . FATR is 2.8 times – Asset turn trending slightly lower due to Capex cycle . WC days at 170 days - Improved working capital due to better Debtor offset by higher inventory days and lower Payable days Strong Balance Sheet - Strong free cash generation of ₹1,535 mn during the quarter leading to Cash & Cash Equivalents of 4,430 mn as on 30th Sept 2023 6 FY20 FY21 FY22 FY23 H1 FY24 Inventories Days AR days AP days Total WC days Є Glenmark LIFE SCIENCES

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