Event Type: Earnings conference call to discuss Q1 FY27 un-audited financial results, hosted by ConfideLeap Partners.

Date and Time: Monday, August 17, 2026. Specific time not mentioned in the transcript.

Purpose: Discussion of operational and financial performance for the quarter ended June 30, 2026 (Q1 FY27).

Management Participants:

  • Mr. Gagan Aggarwal – Chief Financial Officer
  • Mr. Pardeep Verma – VP-Corporate Affairs & Company Secretary
  • Ms. Shalika Malhotra – DGM Finance

Financial Period Discussed: Q1 FY27 (quarter ended June 30, 2026)

Key Financial Highlights:

  • Operating income grew 21.16% YoY to ₹186.08 crore from ₹153.58 crore in Q1 FY26
  • Operating EBITDA improved 2.85x YoY to ₹33.32 crore from ₹8.66 crore
  • Operating EBITDA margin expanded by 1258 bps YoY to 17.91% from 5.33%
  • PAT excluding exceptional item stood at ₹24.68 crore, a 2.04x YoY jump from ₹8.12 crore
  • PAT margin improved by 827 bps YoY to 13.26% from 4.99%

Operational Updates:

  • CDMO partnerships with Viatris, Manx (UK), and Arrotex (Australia) commercialized during the quarter
  • Expected incremental revenue of ₹200-220 crore from these partnerships in FY27
  • Commercialized two new products: Ibuprofen Sachet for European market and Macrogol Sachet for UK and Australian markets
  • Total dossiers filed increased to 2,100+ from 1,915+
  • Global product registrations increased to 850+ from 750+
  • Samba manufacturing facility upgrade to EU-GMP and PIC/S standards underway

Product Performance:

  • Atorvastatin: Revenue grew to ₹85.50 crore in FY26 from ₹47.96 crore in FY25
  • Ezetimibe + Atorvastatin: YoY growth of 246.97% to ₹80.78 crore in FY26 from ₹23.28 crore in FY25
  • Fexofenadine: Steady at ₹74.32 crore in FY26 vs ₹79.67 crore in FY25
  • Quetiapine: Nearly doubled to ₹19.75 crore in FY26
  • Famciclovir: More than doubled to ₹18.64 crore in FY26

Segment-wise Sales Breakdown (Q1 FY27):

  • Export own-brands: 57.20% of sales (up from 48% in Q1 FY26)
  • Export contract manufacturing: 26.64% of sales (vs 29% in Q1 FY26)
  • Domestic branded generics: 6.41% of sales (vs 10% in Q1 FY26)
  • Domestic ethical division: 6.14% of sales (vs 7% in Q1 FY26)
  • Domestic contract manufacturing: 3.61% of sales (vs 6% in Q1 FY26)

Guidance and Forward-looking Statements:

  • FY27 revenue target: ₹900 crore
  • FY27 export sales target: ₹750 crore (45% from CDMO business)
  • FY29 revenue target: ₹1200 crore
  • FY30 vision: ₹1500 crore revenue with ₹200+ crore net profit
  • Sustainable EBITDA margins of 18%+, potentially reaching 21-22%
  • CDMO business expected to grow from ₹180 crore to ₹635 crore over three years

Capital Allocation:

  • Cash balance: Approximately ₹250 crore
  • Capex plan: ₹250 crore over 2.5 years for:
  • Jammu facility upgrade to EU-GMP/PIC/S standards
  • New warehouse construction
  • Production capacity enhancement
  • New R&D facility
  • Exploring domestic brand acquisitions and international partnerships

Additional Business Information:

  • Current CDMO contribution in Q1: ₹5-6 crore from Viatris products
  • Export business gross margins: Approximately 55%
  • Capacity utilization: Approximately 70% in Q1 with headroom for expansion
  • Target dossiers: 2,500 by Q4 FY27 (from current 2,100+)
  • Synthimed investment: 7.8% stake with tag-along rights; no immediate divestment plans

Additional Notes Section

  • The document includes the full transcript of the earnings conference call
  • No attachments were mentioned in the provided data
  • Financial data was extensively disclosed in the transcript including revenue, EBITDA, PAT, margins, and segment breakdowns
  • The company indicated forward-looking statements are based on current beliefs and involve risks and uncertainties