Net Sales: ₹106.8 crores in Q1FY27, compared to ₹96.0 crores in Q1FY26 (11.2% YoY growth) and ₹143.2 crores in Q4FY26.
EBITDA: ₹8.7 crores in Q1FY27, compared to ₹5.8 crores in Q1FY26 (50.1% YoY growth) and ₹32.4 crores in Q4FY26.
EBITDA Margin: 8.2% in Q1FY27, compared to 6.0% in Q1FY26 and 22.7% in Q4FY26.
PAT: ₹4.4 crores in Q1FY27, compared to a loss of ₹(4.2) crores in Q1FY26 and a profit of ₹27.2 crores in Q4FY26.
Net Debt (period end): ₹(136.8) crores (net cash position) as of Q1FY27, compared to ₹(128.1) crores in Q4FY26 and ₹(116.8) crores in Q1FY26.
Note on Q1FY26 PAT: The standalone and consolidated PAT of Q1FY26 was impacted by exceptional items of ₹6.61 crores representing expenditure incurred towards a Voluntary Retirement Scheme (VRS).
Operating EBITDA/EBIT: Excludes Investment Income of ₹2.41 crores in Q1FY27, ₹1.73 crores in Q4FY26, and ₹1.99 crores in Q1FY26.
Scientific Segment Total: ₹66.7 crores in Q1FY27 (₹109.6 crores in Q4FY26; ₹63.1 crores in Q1FY26).
Lab Consumables: ₹45.8 crores in Q1FY27 (₹80.0 crores in Q4FY26; ₹45.9 crores in Q1FY26). Revenue was impacted by Ind AS 115. Excluding this impact, growth was 7.4%.
Lab Equipment: ₹12.3 crores in Q1FY27 (₹17.1 crores in Q4FY26; ₹9.4 crores in Q1FY26).
Process System: ₹8.5 crores in Q1FY27 (₹12.5 crores in Q4FY26; ₹7.9 crores in Q1FY26).
Glassware Segment Total: ₹38.4 crores in Q1FY27 (₹31.8 crores in Q4FY26; ₹32.2 crores in Q1FY26).
Pharma Packaging: ₹23.1 crores in Q1FY27 (₹18.0 crores in Q4FY26; ₹17.5 crores in Q1FY26).
Domestic Glassware: ₹15.3 crores in Q1FY27 (₹13.7 crores in Q4FY26; ₹14.7 crores in Q1FY26).
Others: ₹1.7 crores in Q1FY27 (₹1.8 crores in Q4FY26; ₹0.6 crores in Q1FY26).
Overall Total Revenue: ₹106.8 crores. Excluding the impact of Ind AS 115, overall revenue growth was 14.6%.
Business Overview & Strategy
The company was formed in December 2023 via a demerger of the scientific business from Borosil Ltd.
It operates in four verticals: Laboratory Consumables, Lab Equipment, Process Science, and the Glassware Segment (Pharma Primary Packaging & Domestic Glassware).
It manufactures over 4,500 SKUs across 4 manufacturing locations in India (Bharuch, Nashik, Pune, Vadodara) and exports to 90+ countries.
The company claims a ~33% market share in the Indian laboratory glassware market, which it estimates at ~₹600 crores.
Key growth themes are: Capitalizing on 'Make in India', Leveraging the Borosil brand, New Product Development, and Focus on Exports.
Medium-term goals are to achieve a revenue CAGR of 12-14% and improve EBITDA margins by focusing on high-margin Process Sciences and lab equipment.
New products mentioned include a UV-Visible Spectrophotometer, e-Dispenser, e-Titrate, Overhead Stirrer, Hot plate Stirrer, Quartz Distillation Unit, Moisture Analyser, and Handheld Photometer.
The company highlights its patented Bottle Top Dispenser and its Kjeldahl Nitrogen Estimation Systems, with 750+ installations in the last 5 years.
It has achieved ISI certification for its glassware within 6 months.
The company holds certifications including ISO 9001:2015, 14001, 45001, 15378 and is a NABL-accredited Calibration Lab.
ESG & Other Highlights
The presentation includes a section on Commitment to a Greener Future, outlining initiatives in Environment (water recycling, waste management, rain-water harvesting), Social (workplace safety, diversity), and Governance (ethics, transparency).
The company has received several awards, including the Great Place to Work certification, CII Kaizen awards, and the India Manufacturing Excellence Award (Silver) in December 2025.
It also received a TPM Significant Achievement Award from CII in December 2025 after two years of practising TPM.
