Board Meeting Details
The board meeting was held on October 29, 2026 from 3:00 PM to 4:00 PM where directors approved and took on record the financial results.
Financial Results - Standalone (₹ in Lakhs)
Income Statement:
- Q2 FY27 Revenue from operations: ₹7,855.44 (Q1 FY27: ₹5,550.10; Q2 FY26: ₹4,169.58)
- H1 FY27 Revenue: ₹13,405.54 (H1 FY26: ₹13,606.47)
- Q2 FY27 Other Income: ₹295.36 (Q1 FY27: ₹105.30; Q2 FY26: ₹421.18)
- Q2 FY27 Total Expenses: ₹7,445.70 (Q1 FY27: ₹5,162.35; Q2 FY26: ₹4,248.77)
- Q2 FY27 Profit before tax: ₹705.11 (Q1 FY27: ₹493.05; Q2 FY26: ₹342.00)
- Q2 FY27 Tax expense: ₹163.10 (Q1 FY27: ₹127.34; Q2 FY26: ₹69.28)
- Q2 FY27 Net Profit: ₹542.01 (Q1 FY27: ₹365.71; Q2 FY26: ₹272.72)
- Q2 FY27 EPS (Basic & Diluted): ₹7.86 (Q1 FY27: ₹5.31; Q2 FY26: ₹3.96)
Balance Sheet (as of September 30, 2026):
- Paid-up Equity Share Capital: ₹689.20 lakhs
- Other Equity: ₹40,393.23 lakhs
- Total Assets: ₹55,714.94 lakhs
- Total Liabilities: ₹14,632.51 lakhs
Cash Flows (H1 FY27):
- Cash from operating activities: ₹6,495.32 lakhs
- Cash used in investing activities: ₹7,121.21 lakhs
- Cash from financing activities: ₹1,155.54 lakhs
- Net increase in cash: ₹529.65 lakhs
Financial Results - Consolidated (₹ in Lakhs)
Income Statement:
- Q2 FY27 Revenue from operations: ₹13,628.24 (Q1 FY27: ₹9,373.65; Q2 FY26: ₹6,462.02)
- H1 FY27 Revenue: ₹23,001.90 (H1 FY26: ₹18,061.96)
- Q2 FY27 Other Income: ₹253.93 (Q1 FY27: ₹111.14; Q2 FY26: ₹353.02)
- Q2 FY27 Total Expenses: ₹12,482.55 (Q1 FY27: ₹9,634.10; Q2 FY26: ₹7,546.47)
- Q2 FY27 Profit before tax: ₹1,399.63 (Q1 FY27: loss ₹149.31; Q2 FY26: loss ₹731.43)
- Q2 FY27 Tax expense: ₹217.67 (Q1 FY27: ₹207.02; Q2 FY26: ₹128.93)
- Q2 FY27 Net Profit: ₹1,181.96 (Q1 FY27: loss ₹356.33; Q2 FY26: loss ₹860.37)
- Q2 FY27 EPS (Basic & Diluted): ₹17.15 (Q1 FY27: loss ₹5.17; Q2 FY26: loss ₹13.75)
- Profit attributable to owners: ₹941.75 lakhs in Q2 FY27
Segment Reporting (H1 FY27):
- Manufacturing of Pharma products: ₹10,890.97 lakhs
- Trading of Pharma products: ₹5,522.39 lakhs
- Contract Development and Manufacturing Operations: ₹6,588.54 lakhs
Management Discussion & Analysis Highlights
Q2 FY27 Performance:
- Consolidated revenue grew 110.9% YoY to ₹136.28 Cr
- EBITDA margin expanded to 17.3% from 1.3% in Q2 FY26
- Profit after tax of ₹11.82 Cr vs loss of ₹8.60 Cr in Q2 FY26
- Innoxel Lifesciences turned profitable with ₹44.50 Cr revenue and 32.9% EBITDA margin
- BPL standalone revenue grew 88.4% YoY to ₹78.55 Cr
- Varenyam Healthcare revenue grew 33.2% YoY to ₹19.74 Cr
Operational Highlights:
- First US commercial supply began on October 20, 2026 for Innoxel's CMO product
- Order book stood at ₹117.83 Cr as of September 30, 2026
- Field force of 229 medical representatives for Varenyam Healthcare
- Varenyam Biolifesciences Phase 1 investment increased from ₹150 Cr to ₹300 Cr
- Capital work-in-progress of ₹33.70 Cr for Varenyam Biolifesciences
Financial Position:
- H1 FY27 consolidated cash from operations: ₹83.33 Cr
- Standalone net worth: ₹410.82 Cr
- Standalone debt/equity ratio: 0.08x
- Total borrowings across entities: ₹206.28 Cr
Additional Information
The company has only one reportable segment - Pharmaceuticals. All figures for previous periods have been regrouped/rearranged for comparability.