Indegene Ltd

Dear Stakeholders,

As FY 2024-25 gets closed, I am filled with a sense of satisfaction, deep gratitude, and true excitement for the years ahead.

It is immensely satisfying for me to see us stay true to our core purpose of combining medical expertise and technology for solving real healthcare challenges for our customers worldwide. Building in the process a truly differentiated company that resolutely remains focused on this core purpose, while nurturing a culture that is uniquely ours.

I am grateful, very deeply so, for the continuing trust of our customers and partners, who have helped us trace 25+ years of being purposeful for the life sciences industry. For sure, grateful to our leadership and talentfor what we together continue to accomplish. To all of you as well, your trust in us during the IPO last year and beyond has been overwhelming, cannot be grateful enoughI

As we look to the next few years at an industry in transformation, I see only possibilities for us as a company, that are truly exciting. We are committed to unlocking greater value as we build the company for the next 25 years.

Robust Growth

FY 2024-25 was a year of strong performance and strategic progress. We achieved RS 28,393 million in revenue (+9.6% YoY), / US$ 335.7 million. Our EBITDA stood at RS 5,622 million, and PAT grew by 20.8%, reaching RS 4,067 million.

We announced our maiden dividend while continuing our relentless focus on finding value-accretive acquisitions, reflecting our commitment to prudent capital allocation. These numbers are not just milestones - these are a testament to the strong demand for our deep expertise-led, life sciences contextualized offerings and to our talented team that is bringing these offerings/solutions to life.

Overall, we clocked consistent growth across business segments. Our established businesses - Enterprise Commercial Solutions and Enterprise Medical Solutions, grew by 12.2% to RS 23,896 million or 84.2% of revenues. Our Omnichannel Activation Solutions segment also contributed to the overall growth, growing at 9.0% and reaching RS 3,477 million in FY 2024-25. This balanced growth across our key segments demonstrates the strength, as well as the breadth and depth of our offerings.

Real Impact

Beyond the financials, what excites me the most is the impact we've had on our clients. Whether it be increasing patient intake by 30%, optimizing costs by 25%, or boosting campaign engagement by 25%, our Al-driven solutions have delivered tangible results to several top pharma companies across different functional areas, around the world. As just one example, for a global pharma giant, our omnichannel strategies increased brand sales by 10% while reducing marketing spend by 20%. Success stories like this are the real measure of our business impact, fueling the purpose and passion that drive us as a company.

Nuanced, Al-led Future

The life sciences industry is steadily embracing Al with an expected mix of curiosity and caution - and rightly so, given the nature of the industry. As Al reshapes drug discovery, clinical trials, and commercialization, the pace of change is only accelerating. But, with all the noise surrounding Al in life sciences - we see clients seeking clarity. As they sift through the noise, we see them switching from generic Al solutions to those that bring in deep expertise-led contextualization for specific use cases. Simply put, they are turning to specialized service providers who can help them tune out the noise and tune into a more nuanced Al approach that will deliver real, measurable value.

Expertise-embedded Cortex

We doubled down on digital much before it became fashionable, and it has held us in good stead. We are now doubling down on leveraging Al in all its avatars, including GenAI, to deliver transformational value for our clients.

We continue to remain focused on delivering practical Al solutions that are rooted in real-world experience. In line with this, we are dialing up our investments in GenAI. Cortex, our flagship GenAI platform purpose-built for the life sciences industry, is pivotal to our Al-first approach.

By embedding 25+ years of operational expertise into Al workflows, Cortex helps clients achieve real-world results while ensuring regulatory compliance and governance. To take advantage of everything GenAI has to offer, our entire talent is being trained in GenAI, helping them be future- ready via our ‘GenAI @ Work' initiative.

Specialization-seeking Industry

The industry is at an inflection point. Our clients are navigating headwinds of patent cliffs, pricing pressures, evolving regulatory landscapes etc. Amidst an increasingly complex healthcare landscape, with ~70 new drugs expected to be launched over the next 1-2 years, launch success remains top priority for pharmaceutical companies.

However, traditional go-to-market models are proving to be less effective due to evolving preferences of HCPs, who increasingly favor a hybrid approach. The integration of digital marketing channels with traditional sales approaches is becoming crucial for enhancing reach and effectiveness. Amidst all this, the need to streamline processes, improve efficiency, and personalize patient care remain constant.

As a result, more and more life sciences companies are increasingly turning to specialized service providers like Indegene, to help them navigate this new market dynamic.

Sustainability and Community

Beyond business, we are proud of our progress on ESG.

Our efforts have earned us a Silver rating from EcoVadis, placing Indegene amongst the top 15% (93^rd percentile). Our strategic partnerships with reputed organizations such as C-CAMP, lISc and Plaksha University reflect our commitment to give back to the community, accelerate deep-science innovation and strengthen India's healthcare ecosystem.

Profitable Growth

As we look at FY 2025-26, ourfocus remains on sustaining profitable growth, driving innovation, expanding our footprint, and deepening client relationships. We will continue to build on our Al strengths and deep expertise in life sciences commercialization, bringing new solutions to address the evolving challenges in the healthcare ecosystem.

With the support of our stakeholders, we will continue to push boundaries, unlock new opportunities, shaping the future of healthcare and delivering lasting value to our stakeholders.

Thank you for your unwavering trust, support, and partnership.

Sincerely,