Financial Performance Highlights (Consolidated)

Q1 FY27 Key Metrics (All figures in INR Millions)

  • Revenue from operations: ₹3,266 M (27% YoY growth from Q1 FY26's ₹2,566 M)
  • Other income: ₹77 M
  • Total income: ₹3,342 M
  • EBITDA: ₹1,028 M (31% YoY growth from Q1 FY26's ₹785 M)
  • EBITDA margin: 31.5% (vs. 30.6% in Q1 FY26)
  • Profit before tax: ₹835 M
  • Tax expenses: ₹207 M
  • Profit after tax: ₹627 M (33% YoY growth from Q1 FY26's ₹470 M)

Comparative Performance

Quarterly Comparison (Consolidated):

| Particulars | Q1FY27 | Q4FY26 | Q1FY26 | FY26 |

| Revenue from operations | 3,266 | 3,051 | 2,566 | 11,601 |

| Other income | 77 | 112 | 21 | 209 |

| Total income | 3,342 | 3,163 | 2,587 | 11,811 |

| EBITDA | 1,028 | 814 | 785 | 3,547 |

| Profit after tax | 627 | 540 | 470 | 2,195 |

Standalone Financials (Q1 FY27):

  • Revenue from operations: ₹2,565 M
  • Profit after tax: ₹483 M

Business Segment Analysis

Revenue Breakdown by Business

  • CEM (Contract Engineering and Manufacturing): 51.5%
  • LSM (Large Scale Manufacturing): 39.1%
  • CRAMS (Contract Research & Manufacturing Services): 9.3%
  • Others: 0.1%

Geographic Revenue Mix

  • Domestic: 62.5%
  • Exports: 37.5%

Growth Drivers & Business Update

  • Growth driven by expanding CEM contracts and price-led LSM demand
  • Business model pivot towards CRAMS & CEM contracts
  • Q1 FY27 impacted by ₹70 M loss of inventories from fire at external warehouse in March 2026 and certain year-end provisions

R&D Investment

  • R&D expenditure: ₹198.07 M (6.16% of revenues in Q1 FY27)
  • R&D expansion ongoing with 18 fume hoods installed
  • New R&D building construction on track

Capacity Expansion Update

Magnum | Site-5:

  • Phase 1 - Two production blocks commenced commercial production
  • Expected to contribute revenue from Q2 FY27 onwards
  • Strong visibility for the first 10 production blocks

Catalyst | Site-1:

  • R&D expansion project showing current progress and future plans

Segment Outlook

  • Oil and Gas & Material Science expected to be main growth drivers
  • New product launches in Pharmaceuticals and Agrochemicals sectors
  • CEM contracts being negotiated with clients across sectors

Capital Structure & Financing

  • Finance cost: ₹56 M (Consolidated), ₹35 M (Standalone)
  • Depreciation & amortization: ₹214 M (Consolidated), ₹202 M (Standalone)

Historical Context

  • FY24 performance was affected by a fire accident that reduced Revenue, EBITDA, and PAT