• Event Type: Q2 and H1 FY27 Earnings Conference Call held on Tuesday, November 03, 2026, to discuss financial and operational performance for quarter and half year ended September 30, 2026.
  • Date and Time: November 03, 2026 (time not specified in transcript).
  • Purpose: Discussion of quarterly results, strategic updates, and business performance across pharmaceutical, crop protection, animal health, and specialty ingredients divisions.
  • Management Participants:
  • Mr. Sameer Hiremath – Chairman and Managing Director
  • Mr. Anish Swadi – Chief Executive Officer, Animal Health and Specialty Ingredients
  • Mr. Kuldeep Jain – Chief Financial Officer
  • Mr. Manoj Mehrotra – Head of Pharmaceutical Business
  • Mr. Ravi Khadabadi – Head of Crop Protection Business
  • Strategic Growth Advisors – Investor Relations advisers
  • Financial Period Discussed: Quarter and half year ended September 30, 2026 (Q2 FY27 and H1 FY27).
  • Financial Highlights:
  • Q2 FY27: Revenue INR434 crores, EBITDA INR45 crores, margin 10.3%, PAT negative INR6 crores
  • H1 FY27: Revenue INR837 crores, EBITDA INR82 crores, margin 9.8%, PAT negative INR14 crores
  • Debt-to-equity ratio stood at 0.52 as of September 30, 2026
  • Capital expenditure stood at INR81 crores for debottlenecking, inventory, regulatory upgrades and selective capacity creation
  • Business Segment Performance:
  • Pharmaceutical Business (Q2): Revenue INR278 crores, EBIT INR13 crores, EBIT margin 4.6%
  • Pharmaceutical Business (H1): Revenue INR511 crores, EBIT INR20 crores, EBIT margin 4%
  • Crop Protection Business (Q2): Revenue INR156 crores, EBIT negative INR2 crores, EBIT margin negative 1.5%
  • Crop Protection Business (H1): Revenue INR326 crores, EBIT negative INR8 crores, EBIT margin negative 2.5%
  • Key Developments:
  • Signed multi-year contract with European-based global agrochemical company to supply specialized product worldwide
  • Received Certificate of GMP Compliance from Swissmedic Agency for Bangalore facility
  • Commercial production commenced at new multipurpose facility at Panoli for specialty ingredients
  • Expect US FDA reinspection of Bangalore facility towards end of current financial year
  • Capacity utilization at pharma manufacturing facilities ranged from 60% to 70% during the quarter
  • Completed 28 customer audits successfully in pharmaceutical business
  • Forward-looking Statements:
  • Reiterated full-year guidance for mid-teens growth in revenue and substantial improvement in profitability
  • Expect H2 performance to be significantly better than H1 across all businesses
  • Expect peak realization for new agrochemical CDMO contract by calendar year 2029-2030
  • Animal Health business targeting INR400 crores revenue by FY30
  • US FDA clearance expected to add INR150 crores annual revenue to pharma business
  • Compliance Statement: The conference call contained forward-looking statements based on beliefs, opinions and expectations of the company as of the call date, with the usual disclaimer that these are not guarantees of future performance.

Additional Notes Section

  • The document is a transcript of the earnings conference call edited for factual errors, with audio recordings uploaded on stock exchange on November 03, 2026 prevailing in case of discrepancy.
  • The transcript includes detailed Q&A session with analysts covering various aspects of business performance, margins, capacity utilization, and growth outlook.
  • Financial data was disclosed in the transcript including revenue, EBITDA, PAT, segment-wise performance, and capital expenditure details.