• The document contains the transcript of an earnings conference call held on Wednesday, November 04, 2026, to discuss the Un-audited Financial Results for the quarter ended September 30, 2026 (Q2 FY27).
  • The call was hosted by ConfideLeap Partners and featured management participants including Mr. Pardeep Verma (VP-Corporate Affairs & Company Secretary), Mr. Gagan Aggarwal (Chief Financial Officer), and Ms. Shalika Malhotra (DGM Finance).
  • The transcript has been filed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is available on the company's website at https://www.indswiftgroup.com/investor-relations/disclosure-under-regulation-46/investor-meet/.

Financial Highlights Disclosed in Transcript

Q2 FY27 Standalone Performance:

  • Operating Revenue: ₹234.89 crore, up 50.15% YoY from ₹156.43 crore and 26.22% QoQ from ₹186.09 crore
  • Operating EBITDA: ₹42.33 crore, up 4.95x YoY from ₹8.55 crore and 27.04% QoQ from ₹33.32 crore
  • Operating EBITDA Margin: 18.02%, expanding 1,256 bps YoY and 11 bps QoQ
  • PAT: ₹31.03 crore, up 3.54x YoY and 26.96% QoQ
  • PAT Margin: 13.21%, up 761 bps YoY
  • Raw Material Expenses: 45.15% of revenue vs 49.38% a year ago

H1 FY27 Standalone Performance:

  • Operating Revenue: ₹420.97 crore, up 35.79% YoY from ₹310.02 crore
  • Operating EBITDA: ₹75.65 crore, up 4.45x YoY
  • Operating EBITDA Margin: 17.97%, expanding 1,254 bps YoY
  • PAT: ₹55.47 crore, up 3.29x YoY
  • PAT Margin: 13.18%

Business Updates and Guidance

Revenue Mix:

  • Export contribution: 82.7% of total sales
  • Domestic contribution: 17.3% of total sales
  • Own brands: 55.75% of quarterly sales (69% of export sales)
  • Contract manufacturing: 26.99% of sales
  • Branded generics: 6.84% via Healthcare and Agile divisions
  • Ethical division: 5.43% led by chronic, pediatric, and gynecology therapies

Strategic Initiatives:

  • CDMO partnerships with Viatris and Aerotex progressing rapidly, expected to deliver ₹100-130 crore incremental revenue in FY27 and ₹200-220 crore over two years
  • Completed commercial validation for Clarithromycin dry suspension for European launch
  • Global product registrations: 900+ across 85 countries with 2,100+ filed dossiers
  • Expecting 330+ additional product registrations in FY27
  • Warehouse development adjacent to Derabassi 100% EOU facility underway
  • ₹45 crore upgrade of Samba facility to EU-GMP and PIC/S standards on schedule
  • ₹250 crore growth capex covering Samba upgrade, Derabassi warehouse, R&D infrastructure, and capacity debottlenecking

Guidance:

  • Reiterated FY27 guidance of more than 50% revenue growth
  • Medium-term target: 20-25% revenue CAGR to cross ₹1,500+ crore by FY30
  • 200-300 bps EBITDA margin expansion expected
  • Targeting 19-20% EBITDA margin in Q3 FY27 and 20%+ for full year

Additional Notes Section

  • The document is a regulatory filing containing the complete transcript of the earnings conference call.
  • The company remains net debt-free with robust cash and liquid reserves.
  • The company holds a 7.80% equity stake in Synthimed Labs, valued at approximately ₹7,000-8,000 crore.
  • Management indicated they are in active discussions with two additional customers for CDMO deals beyond Viatris and Aerotex.
  • The company explicitly stated that no unpublished price sensitive information (UPSI) was shared during the call.