Wockhardt Limited

Investor Presentation By

Dr. Murtaza Khorakiwala Managing Director

Feb 2014

Safe Harbor Statement

• Except for historical information contained herein, statements in this communication, which include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “likely”, “project”, “should”, “potential”, “will pursue” and similar expressions or variations of such expressions may constitute “forward looking statements”. These forward looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash flow projections, our exposure to market risks as well as other risks. Wockhardt Limited does not undertake any obligation to update forward looking statements to reflect events or circumstances after the date thereof.

Investor Presentation Feb 2014 2

Introduction to Wockhardt Key Business Dynamics

ROW operations Wockhardt Direct operations

USA

UK, Ireland, France, Switz.

India

Mexico

Wockhardt Today

Investor Presentation Feb 2014 4

Direct Operations

in India, USA

and Europe

8600 Associates employed in 21

countries

UK Ireland

Wockhardt Today

Investor Presentation Feb 2014 5

12

Manufacturing Locations globally

Ankleshwar Daman (2 Plants)

Aurangabad (5 Plants)

Baddi

Chicago

Formulations APIs

9 sites in India

Wockhardt Today

Investor Presentation Feb 2014 6

3 R&D Centers

worldwide

USA / UK & India

Update on Recent Events

Regulatory Inspections

Update on Recent Events

Investor Presentation Feb 2014 9

Q3FY14 9MFY14

Total No. of Regulatory Inspections 6 17

+ve outcomes (with no or minor observations) 5 13

-ve outcomes (with critical / major observations) 1 4

Result Awaited 0 0

Q3FY14 / 9MFY14 – Regulatory Inspection Status

Chikalthana facility received an Import Alert from USFDA during the quarter. However, 5 products allowed to be manufactured.

Q3FY14 Results

Sales – Decline of 14% over Q3FY13

Investor Presentation Feb 2014 11

Decline of 14% in Q3FY14 over Q3FY13

Rs.crore 1,435

1,237

500

700

900

1,100

1,300

1,500

Q3-FY13 Q3-FY14

Sales

EBITDA – Declines by 56% over Q3FY13

Investor Presentation Feb 2014 12

Rs.crore

Declines by 56% in Q3FY14 over Q3FY13

545

241

0

100

200

300

400

500

600

Q3-FY13 Q3-FY14

EBITDA

Adj. PAT – Declines by 40%

Investor Presentation Feb 2014 13

Rs.crore

Declines by 40% in Q3FY14 over Q3FY13

410

250

0

100

200

300

400

500

Q3-FY13 Q3-FY14

Adj. PAT

Research – 9.2% of Sales

Investor Presentation Feb 2014 14

3.5%

5.7%

6.7%

7.7%

10.2%

9.2%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

FY11 FY12 FY13 Q1FY14 Q2FY14 Q3FY14

R&D % to Sales

9MFY14 Results

Sales – Decline of 8% over 9MFY13

Investor Presentation Feb 2014 16

Decline of 8% in 9MFY14 over 9MFY13

Rs.crore 4,124

3,792

1,500

2,000

2,500

3,000

3,500

4,000

4,500

9M-FY13 9M-FY14

Sales

EBITDA – Declines by 43% over 9MFY13

Investor Presentation Feb 2014 17

Declines by 43% in 9MFY14 over 9MFY13

Rs.crore 1,504

858

0

200

400

600

800

1,000

1,200

1,400

1,600

9M-FY13 9M-FY14

EBITDA

Adj. PAT – Declines by 40%

Investor Presentation Feb 2014 18

Declines by 40% in 9MFY14 over 9MFY13

Rs.crore 1,180

707

0

200

400

600

800

1,000

1,200

1,400

9M-FY13 9M-FY14

Adj. PAT

Key Financial Highlights

Investor Presentation Feb 2014 19

Net Debt to Equity now at 0.06 as against 0.36 as of 31st Mar 2013.

Free Cash Flow (before Capex) generation of over Rs.1,100 crores in 9MFY14.

Capital Expenditure of Rs.307 crores in 9MFY14.

R&D expenses at 9.2% of sales in Q3FY14 and at 9% of sales in 9MFY14.

US Business

Investor Presentation Feb 2014 20

• Declines by 30% (37% in $terms) over

Q3FY13.

• 7 ANDAs filed during 9MFY14.

• 53 ANDAs pending approval.

771 539 300

400

500

600

700

800

Q3-FY13 Q3-FY14

USA

Rs.

cr.

$141

$89

EU Operations UK Operations

• UK operation grows by 10% (Flat in £ terms) in Q3FY14.

Grows by 5% (remains flat in £ terms) in 9MFY14.

• 4 New products launched in 9MFY14.

• 3 largest generic company and 1st in Hospital segment

Investor Presentation Feb 2014 21

Ireland Operations

• Ireland grows by 24.7% (8% in € terms) over Q3FY14.

Declines by 16% (25% in € terms) over 9MFY13.

• Largest generic player with 27% market share.

• 1 new product launched in 9MFY14.

238 261 120

140

160

180

200

220

240

260

280

Q3-FY13 Q3-FY14

UK

Rs.

cr.

£ 27.4

£ 27.3

49 62 -

10

20

30

40

50

60

70

Q3-FY13 Q3-FY14

Ireland

Rs.

cr.

€ 7.06

€ 7.61

Emerging Markets • Emerging Markets (including India)

declined by 15% for Q3FY14. Declines by

21% for 9MFY14.

• India Business grew by 6% during Q3FY14

• 2 new products in Q3FY14 and 16 new

products launched in 9MFY14 in India.

• 2 new divisions launched in India.

• ROW operations declined by 15% during

the quarter and by 21% in 9MFY14..

Investor Presentation Feb 2014 22

324 328250

270

290

310

330

350

Q3-FY13 Q3-FY14

Emerging Markets

Rs.

cr.

Investor Presentation Feb 2014 23

For investor updates and communication please visit www.wockhardt.com

For Information please contact Tushar Mistry Tel.: +91 22 26596210 tmistry@wockhardt.com