Financial Performance Highlights

Q2 FY27 Performance (Consolidated)

  • Revenue from Operations: ₹441.2 Cr (vs ₹361.1 Cr in Q2 FY26, +22.2% YoY)
  • Gross Margin: 81.8% (vs 81.0% in Q2 FY26)
  • EBITDA: ₹96.0 Cr (vs ₹78.5 Cr in Q2 FY26, +22.3% YoY)
  • EBITDA Margin: 21.7% (flat YoY)
  • Profit After Tax (PAT): ₹60.3 Cr (vs ₹52.3 Cr in Q2 FY26, +15.3% YoY)
  • PAT Margin: 13.7% (vs 14.5% in Q2 FY26)

H1 FY27 Performance (Consolidated)

  • Revenue from Operations: ₹863.6 Cr (vs ₹707.7 Cr in H1 FY26, +22.0% YoY)
  • Gross Margin: 81.7% (vs 81.0% in H1 FY26)
  • EBITDA: ₹189.1 Cr (vs ₹148.2 Cr in H1 FY26, +27.5% YoY)
  • EBITDA Margin: 21.9% (vs 20.9% in H1 FY26)
  • Profit After Tax (PAT): ₹120.4 Cr (vs ₹98.5 Cr in H1 FY26, +22.2% YoY)
  • PAT Margin: 13.9% (flat YoY)

Operational Highlights

  • India business contributed 97.1% of total revenue in H1 FY27
  • Chronic and sub-chronic therapies contribute ~72.1% of portfolio in H1 FY27
  • Improved market rank to 26th in MAT IPM (September 2026) from 27th in MAT (March 2026)
  • 4 brands crossed ₹100 Cr annual sales in MAT Sep-26, with 1 brand crossing ₹200 Cr
  • Top 5 brands account for ~36% and Top 10 brands account for ~53% of revenue

Manufacturing Facility Updates

  • Renewed EU-GMP certification for Oral Solid Dosage line at Bhayla plant in May 2026
  • Inaugurated Hormone Facility at Bhayla in June 2026
  • Received ANVISA GMP (Brazil) Certification for Bhayla OSD & Hormone Manufacturing Facility in October 2026

Balance Sheet Position (as of September 30, 2026)

  • Total Assets: ₹1,246.7 Cr (vs ₹1,205.1 Cr as of March 31, 2026)
  • Property, plant and equipment: ₹425.2 Cr (vs ₹291.1 Cr as of March 31, 2026)
  • Capital work-in-progress: ₹21.8 Cr (vs ₹143.1 Cr as of March 31, 2026)
  • Intangible assets: ₹246.9 Cr (vs ₹262.8 Cr as of March 31, 2026)
  • Total Equity: ₹805.1 Cr (vs ₹746.9 Cr as of March 31, 2026)
  • Share Capital: ₹61.2 Cr (unchanged)
  • Current Liabilities: ₹333.0 Cr (vs ₹361.2 Cr as of March 31, 2026)
  • Net Debt/(Cash): (₹53.9) Cr (vs (₹40.4) Cr as of March 31, 2026)

Cash Flow Statement (H1 FY27)

  • Cash generated from Operations: ₹146.3 Cr
  • Income taxes paid (net): ₹33.5 Cr
  • Net Cash from Operating Activities: ₹112.7 Cr
  • Net Cash from Investing Activities: ₹3.3 Cr
  • Net Cash from Financing Activities: (₹116.3) Cr
  • Net Increase/(Decrease) in Cash: (₹0.2) Cr

Strategic Initiatives

  • Portfolio shift from 70:30 to 28:72 (Acute:Chronic) from FY13 to FY26
  • Focus on women's health, urology, nephrology, CNS, rheumatology, dermatology & gastroenterology
  • Strategic collaborations with Ferring Pharmaceuticals for Women's Healthcare and Urology products
  • Investment in La Chandra Pharmalabs for backward integration of Hormone API manufacturing
  • Expansion plans for regulated international markets

Management Team

  • Managing Director & CEO: Niravkumar Kritikumar Mehta
  • Joint Managing Director: [Name not specified in document]
  • Whole-Time Director: Viral Bhupendrabhai Sitwala
  • Chief Financial Officer: Bhavin Naresh Bhagat
  • President – India Business: Vijay Charlu
  • Company Secretary & Compliance Officer: Chetna Prabhatkumar Dharajiya

Historical Financial Performance

  • FY26 Revenue: ₹1,403.2 Cr (vs ₹1,196.4 Cr in FY25)
  • FY26 Adjusted PAT: ₹199.4 Cr (excluding one-time statutory impact of New Labor Code ₹19.1 Cr)
  • Consistent revenue growth from FY23 (₹884.1 Cr) to FY26 (₹1,403.2 Cr)

ESG Initiatives

  • Solar power plants: 1.3 MW at Bhayla Plant and 4.25 MW in Solar Park
  • Effluent Treatment plant (ETP) at Bhayla Plant for zero liquid discharge
  • World Bank Group EDGE Advance Certificate for energy and water saving measures
  • A+ Credit Rating
  • 40% female workforce at Solan Plant