Innova Captab Limited – Investor Presentation Summary
Key Operational Highlights
- CDMO Services & Products business serves 350+ customers with wide range of dosage forms including oral solids, oral liquids, dry syrups, dry powder injectables, parenteral and ointments
- Branded Generics business exports to 60+ countries with broad market reach
- Jammu manufacturing facility completed its first full year and is ramping up well with multiple marquee client audits successfully completed
- Sharon's manufacturing units are nearing optimal utilization, reflecting strong demand
- R&D facility in Baddi recognized by DSIR, staffed with 60+ scientists & engineers
Segment-wise Performance
- CDMO Services & Products: Revenue of ₹328.7 crore in Q1 FY27, representing 32% YoY growth and approximately 70% of total revenue
- Branded Generics: Revenue of ₹142.2 crore in Q1 FY27, representing 39% YoY growth
Explanation of significant changes in segment performance: Growth across both segments driven by steady order flows, broader product portfolio, and deeper engagement with existing and new customers.
Financial Highlights
Revenue: ₹470.9 crore
EBITDA: ₹75.1 crore
PAT: ₹44.1 crore
EPS: ₹7.71
Margins: EBITDA Margin 16.0%, PAT Margin 9.4%
YoY/QoQ comparison: Revenue growth 34% YoY, EBITDA growth 33% YoY, PAT growth 42% YoY
Drivers of financial performance: Healthy performance across both CDMO Services & Products and Branded Generics businesses, supported by strong client traction and continued business momentum
Comparison to market estimates: Not Specified
Key Risks: Not Specified
Geographical Revenue Split
Domestic vs Export/Regional Revenue: Not Specified
Regional Breakdown: Not Specified
Balance Sheet Snapshot
Net Debt/Equity: Debt/Equity Ratio of 0.31 (FY26)
Reserves: Other Equity of ₹1,033.6 crore (FY26)
Current Assets/Liabilities: Current Assets ₹923.0 crore, Current Liabilities ₹494.6 crore (FY26)
Working Capital/Leverage Metrics: Net Working Capital impacted by increased inventory pertaining to Jammu plant
Financial Health Insights: Strong cash flow generation with Net Cash from Operating Activities of ₹116.5 crore (FY26)
Capex & Cash Flow Health
Capital Expenditure: Total capital investment in Jammu facility eligible for GST-linked incentive totaling to 300% of investment made in eligible plant and machinery available for 10 years, and Capital Interest Subvention of 6% per annum on loan against eligible capex
Free Cash Flow: Not Specified
Operating Cash Flow: Net Cash from Operating Activities of ₹116.5 crore (FY26)
Net Debt Movement: Not Specified
Investment Rationale: Focus on capacity expansion with Jammu facility, creating long-term synergy with additional product offerings in Formulation & API
Strategic & R&D Initiatives
Investments in Innovation: Dedicated R&D facility in Baddi with state-of-the-art equipment including RMG/FBP, compression machines, auto coaters, HPLC, UV dissolution apparatuses, Karl Fischer moisture analyzers
Expected impact on growth: Developed Products in Category of Immediate Release, Super Bioavailability Capsules, Nano Size Formulation for Increased Bioavailability, Modified and Sustained Releases and Tablets in Capsules
Strategic Rationale: Strengthening position as trusted CDMO partner while expanding branded generics footprint across key markets
Industry Trends & Business Environment
Macro/Industry Trends: Not Specified
Impact on Company: Not Specified
Management Commentary & Growth Outlook
Strategic Outlook: "We remain committed to strengthening our position as a trusted CDMO partner while expanding our branded generics footprint across key markets. With a clear strategic roadmap, disciplined capital allocation and timely execution, we are confident of sustaining growth while enhancing profitability and delivering long-term value for our stakeholders."
FY Guidance: Not Specified
Market Share Targets: Not Specified
Risks and Opportunities: Not Specified
Historical Financial Performance (Consolidated)
FY26: Revenue ₹1,630.0 crore, EBITDA ₹250.3 crore (15.4% margin), PAT ₹140.9 crore (8.6% margin), EPS ₹24.63
FY25: Revenue ₹1,243.7 crore, EBITDA ₹198.2 crore (15.9% margin), PAT ₹128.3 crore (10.3% margin), EPS ₹22.41
FY24: Revenue ₹1,081.3 crore, EBITDA ₹166.9 crore (15.4% margin), PAT ₹94.3 crore (8.7% margin), EPS ₹18.66
FY23: Revenue ₹926.4 crore, EBITDA ₹122.8 crore (13.3% margin), PAT ₹68.0 crore (7.3% margin), EPS ₹14.16
FY22: Revenue ₹800.5 crore, EBITDA ₹98.9 crore (12.4% margin), PAT ₹64.0 crore (8.0% margin), EPS ₹13.32
Company Timeline
2006: Foundation with first manufacturing facility in Baddi, Himachal Pradesh
2010: Commissioning of cephalosporin block at Baddi facility
2013: GMP certification for cephalosporin products from Ministry of Medical Services, Republic of Kenya
2015: Incorporation of Univentis Medicare Limited
2017: Initiation of operations at G Block facility in Baddi
2021: Expansion of G Block capacity
2022: Initiation of manufacturing facility in Kathua, Jammu
2023: Acquisition of Sharon and successful IPO listing
2025: Commercial operations commencement at Kathua, Jammu facility (January 2025)
2026: Received Certificate of GMP Compliance by UK-MHRA for Cephalosporin, Baddi facility and Certificate of GMP Compliance from PIC/S (SMDC, Ukraine) for Kathua, Jammu facility