• Event Type: Q1 FY27 Earnings Conference Call with Analysts/Investors
  • Event Date and Time: Monday, 10th August, 2026 (specific time not mentioned in transcript)
  • Purpose: Discussion of Q1 FY27 financial performance and business updates, including strategic acquisitions and capacity expansion
  • Management Participants: Dr. Sachin Patel (Managing Director), Mr. Krupesh Patel (Chief Financial Officer)
  • Moderator: Mr. Hrishikesh Patole from 360 ONE Capital Market Private Limited
  • Compliance: The call was conducted pursuant to Regulation 30 and 46 of SEBI (LODR) Regulations, 2015

Financial Highlights for Q1 FY27:

  • Revenue from operations: INR43.8 crores (vs. INR35.9 crores in Q1 FY26), growth of 22.1% YoY
  • EBITDA: INR20.8 crores (vs. INR13.9 crores in Q1 FY26), growth of 49.4% YoY
  • EBITDA margin: 47.5% (up 867 basis points YoY)
  • Profit after tax: INR11.1 crores (vs. INR9.1 crores in Q1 FY26), growth of 22.1% YoY

Strategic Business Updates:

Acquisition Strategy:

  • MicroBiopharm Japan Acquisition: Specializes in precision fermentation technologies across immunosuppressants, oncology, and anti-infectives. Provides capabilities in peptides, plasmids, ADCs, and enzyme engineering. 60% of business is CDMO, 60% revenue from Japan, 40% outside Japan. Expected to close by August 2026 end.
  • Sanofi Portfolio Acquisition: Acquiring 13 established brands in anti-TB and anti-infective segments across 55 countries in Europe, Middle East, and Africa. Transition service agreement with Sanofi for 3 years with gradual transfer of marketing authorizations and manufacturing.

Capacity Expansion:

  • Completed INR370 crore capex program over 3 years (gross block increased from INR62 crores in FY23 to INR435 crores in FY26 including CWIP)
  • Doubled fermentation capacity with 540 KL expansion
  • New API facility and R&D infrastructure operational
  • Full commercialization of expanded capacity expected by end of August 2026
  • Hybrid power plant Phase 1 expected to go live in September 2026, Phase 2 two months later

Product Portfolio:

  • API block now producing Rifapentine, Rifaximin, and other molecules
  • Moving downstream from intermediates to APIs and high-value products
  • Global shift from Rifampicin to Rifapentine creates opportunity (requires more Rifa-S)

Funding Strategy:

  • Planning equity raise up to INR1,000 crores
  • Debt component to be optimized with international rates lower than Indian rates
  • Maintaining financial flexibility for acquisitions

Growth Outlook:

  • Expecting high-teen growth rates going forward
  • Asset turnover expected at 1.4x-1.5x on INR200 crores of new productive assets
  • Some synergy projects with acquisitions expected within first year

Additional Notes Section

  • The transcript was attached to the regulatory filing dated 14th August, 2026, submitted to BSE and NSE
  • The company resolved a dispute with Optimus Drugs and has restarted business
  • Management committed to holding regular conference calls going forward (quarterly or semi-annually)