Fermenta Biotech Limited announced its audited financial results for FY26 ending March 31, 2026. The company reported consolidated financial performance with and without real estate operations.

Financial Performance (Consolidated)

Without Real Estate:

  • FY26 Revenue: INR 538.4 crore (up 26% YoY)
  • FY26 EBITDA: INR 120.0 crore (up 44% YoY)
  • Q4FY26 Revenue: INR 124.8 crore (down 7% YoY, down 10% QoQ)
  • Q4FY26 EBITDA: INR 24.9 crore (down 23% YoY, down 11% QoQ)

With Real Estate:

  • FY26 Revenue: INR 547.8 crore (up 14% YoY)
  • FY26 EBITDA: INR 122.2 crore (up 0.5% YoY)
  • FY26 Profit After Tax: INR 70.3 crore (down 8% YoY)
  • FY26 Diluted EPS: INR 24.51
  • Q4FY26 Revenue: INR 126.6 crore (down 12% YoY, down 10% QoQ)
  • Q4FY26 EBITDA: INR 25.1 crore (down 39% YoY, down 11% QoQ)
  • Q4FY26 Profit After Tax: INR 18.6 crore (down 44% YoY, up 55% QoQ)
  • Q4FY26 Diluted EPS: INR 6.61

The YoY decline in PAT reflects the high FY25 base created by one-time, near-pass-through real estate value-unlocking inflows of INR 44.6 crore in FY25 compared to INR 1.6 crore in FY26.

Revenue Mix (Consolidated)

  • Vitamin D3 - Human Nutrition: INR 292.7 crore (up 28% YoY)
  • Vitamin D3 - Animal Nutrition: INR 108.5 crore (up 32% YoY)
  • Other APIs and Intermediates: INR 47.6 crore (up 27% YoY)
  • Green Chemistry Solutions/Enzymes: INR 15.9 crore (up 126% YoY)
  • Environmental Solutions: INR 19.2 crore (down 14% YoY)
  • Other Income: INR 29.2 crore (up 48% YoY)
  • Real Estate Value Unlocking: INR 1.6 crore (down 96% YoY)

Geographical Revenue Mix (excluding real estate value unlocking)

  • India: 39% (40% in FY25)
  • Europe: 30% (27% in FY25)
  • North America: 13% (17% in FY25)
  • Others: 18% (16% in FY25)

Performance Highlights

  • Human nutrition segment volumes grew 21% over FY25
  • Animal nutrition segment volumes grew 49% over FY25 with average realization down 16%
  • Green chemistry sales more than doubled over FY25 due to new customer acquisitions
  • Other Income grew 89% YoY to INR 22.4 crore, supported by non-recurring insurance claim of INR 2.7 crore recognized in Q1FY26 and higher foreign exchange gains
  • German toll manufacturing subsidiary: FY26 revenue INR 76.6 crore (up 101% YoY), EBITDA INR 11.3 crore (down 18% YoY)
  • US trading business subsidiary: FY26 revenue INR 45.2 crore (down 10% YoY), EBITDA loss of INR 1.9 crore (INR 0.5 crore loss in FY25)
  • Reversal of INR 3.1 crore in current quarter from utilization of slow moving semi-finished inventory
  • One-time exceptional employee-benefit charge of INR 2.19 crore in FY26 due to implementation of new Labour Codes notified on November 21, 2025
  • Recovery of INR 9.07 crore from provisions made in earlier years against investment, recoverable expenses and trade receivables, recorded as exceptional item

Dividend Declaration

The board of directors recommended a dividend of ₹3.75 per share.

Management Commentary

Prashant Nagre, Managing Director, commented that FY26 confirmed FY25's turnaround and positions Fermenta well for continued value creation. He highlighted:

  • FY26 EBITDA (excluding real estate) demonstrated robust operational leverage with 44% growth over FY25
  • Enzymes portfolio expansion showing initial results
  • Human nutrition volumes grew 21% in FY26 following 43% growth in FY25
  • Commercial launches of VITADEE Green and Vitamin D3 100 SD premix sequenced for FY27
  • Ongoing capex at Dahej will establish commercial-scale production of plant-based Vitamin D3 (Indian patent protection secured in September 2025) alongside new Vitamin D3 derivatives

The company holds an EDQM Certificate of Suitability for Vitamin D3 100 SD premix and received a Letter of Approval from the Global Alliance for Improved Nutrition.