Key Quantitative Figures

Q2FY27 Performance (Consolidated):

  • Operating Revenue: ₹940.2 crore, up 30.5% YoY
  • Gross Profit: ₹550.1 crore, up 33.6% YoY
  • Gross Margin: 58.5% (135 bps improvement YoY)
  • EBITDA: ₹214.3 crore, up 48.3% YoY
  • EBITDA Margin: 22.8% (274 bps improvement YoY)
  • PAT: ₹143.5 crore, up 44.8% YoY
  • Net Margin: 15.0% (162 bps improvement YoY)
  • Diluted EPS: ₹3.11, up 43.8% YoY
  • Total Income: ₹958.3 crore, up 29.2% YoY

H1FY27 Performance (Consolidated):

  • Operating Revenue: ₹1,781.0 crore, up 32.9% YoY
  • Gross Profit: ₹1,047.4 crore, up 36.0% YoY
  • Gross Margin: 58.8% (137 bps improvement YoY)
  • EBITDA: ₹427.3 crore, up 74.7% YoY
  • EBITDA Margin: 24.0% (574 bps improvement YoY)
  • PAT: ₹302.9 crore, up 92.5% YoY
  • Net Margin: 16.6% (510 bps improvement YoY)
  • Diluted EPS: ₹6.58, up 90.5% YoY
  • Total Income: ₹1,824.5 crore, up 33.4% YoY

Regional Business Performance (Q2FY27):

  • US & North America: Revenue of ₹420.9 crore (up 8.7% YoY, 11.6% QoQ), contributing 44.8% of total revenue
  • UK and Europe: Revenue of ₹404.6 crore (up 64.9% YoY, 13.7% QoQ), contributing 43.0% of total revenue
  • Organic growth (excluding QliniQ): 48.6% YoY to ₹365 crore
  • QliniQ contribution: ₹40 crore in Q2FY27 (₹84 crore in H1FY27)
  • Australia & New Zealand: Revenue of ₹100.6 crore (up 64.0% YoY, 14.8% QoQ), contributing 10.7% of total revenue
  • Rest of World: Revenue of ₹14.1 crore (down 47.0% YoY, 29.6% QoQ), contributing 1.5% of total revenue

Financial Position and Cash Flow:

  • Net cash from operating activities: ₹322 crore in H1FY27 (4.3x H1FY26)
  • EBITDA-to-cash conversion: 75% (H1FY26: 31%)
  • Capex: ₹46 crore incurred during H1FY27
  • Free cash flow: ₹275 crore
  • Working capital cycle: 122 days in Q2FY27 (improved from 132 days in Q1FY27)
  • Cash balance: ₹1,124 crore as of September 30, 2026
  • Net cash: ₹1,095 crore, increased by ₹135 crore in H1FY27 after ₹95 crore acquisitions and ₹41 crore dividend
  • Trailing twelve-month ROCE: 24.7% (Sep-25: 18.7%)
  • Trailing twelve-month ROE: 18.6% (Sep-25: 13.6%)
  • R&D spends: ₹23.9 crore in Q2FY27 (2.5% of consolidated revenue)

Management Commentary:

Mark Saldanha, Founder, Chairman & Managing Director, stated that Q2FY27 marked the company's strongest-ever performance with broad-based growth across regions. He noted that H1FY27 PAT already exceeded 70% of full-year FY26 profit. The company enters the next growth phase from a position of strength with expanding global footprint, robust product pipeline, and strong net-cash position. Focus remains on sustaining profitable organic growth while selectively pursuing strategic acquisitions.

Additional Information:

  • Earnings conference call scheduled for November 5, 2026, at 4:00 pm IST