Date: November 3, 2026

Financial Performance Summary

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Total Income: ₹457.2 Cr (down 11.4% YoY from ₹516.1 Cr)
  • EBITDA: ₹104.6 Cr (down 33.4% YoY from ₹156.9 Cr)
  • EBITDA Margin: 22.9% (down 754 basis points from 30.4%)
  • Profit Before Tax: ₹68.5 Cr (down 46.9% YoY from ₹129.0 Cr)
  • PBT Margin: 15.0% (down 1002 basis points from 25.0%)
  • Profit After Tax: ₹51.1 Cr (down 47.0% YoY from ₹96.5 Cr)
  • PAT Margin: 11.2% (down 751 basis points from 18.7%)
  • Diluted EPS: ₹39.9 (down 47.0% YoY from ₹75.2)

Sequential Performance (Q2 FY27 vs Q1 FY27)

  • Total Income: ₹457.2 Cr (down 29.7% QoQ from ₹650.1 Cr)
  • EBITDA: ₹104.6 Cr (down 54.8% QoQ from ₹231.1 Cr)
  • EBITDA Margin: 22.9% (down 1267 basis points from 35.5%)
  • Profit Before Tax: ₹68.5 Cr (down 65.3% QoQ from ₹197.5 Cr)
  • PBT Margin: 15.0% (down 1541 basis points from 30.4%)
  • Profit After Tax: ₹51.1 Cr (down 65.3% QoQ from ₹147.4 Cr)
  • PAT Margin: 11.2% (down 1148 basis points from 22.7%)
  • Diluted EPS: ₹39.9 (down 65.3% QoQ from ₹114.9)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Total Income: ₹1,107.2 Cr (up 35.6% YoY from ₹816.7 Cr)
  • EBITDA: ₹335.6 Cr (up 68.6% YoY from ₹199.1 Cr)
  • EBITDA Margin: 30.3% (up 594 basis points from 24.4%)
  • Profit Before Tax: ₹266.0 Cr (up 81.7% YoY from ₹146.4 Cr)
  • PBT Margin: 24.0% (up 610 basis points from 17.9%)
  • Profit After Tax: ₹198.5 Cr (up 80.2% YoY from ₹110.2 Cr)
  • PAT Margin: 17.9% (up 444 basis points from 13.5%)
  • Diluted EPS: ₹154.7 (up 80.2% YoY from ₹85.9)

Operational Highlights

Revenue Drivers

  • Commercial CMS projects contributed the majority share of revenue
  • Operating deleverage cited as primary reason for margin contraction

Working Capital Efficiency

  • Working capital days reduced to 104 days in H1FY27 from 155 days at H1FY26
  • Improvement driven largely by decrease in inventory days and receivable days

Capital Expenditure

  • Capex investment cash outflow of ₹261 Cr in the period
  • Investment largely driven by New R&D and Peptide Block construction

Business Developments

Manufacturing Expansion

  • Inauguration of new peptide manufacturing facility
  • Growing pipeline of upcoming projects supporting visibility

Strategic Land Acquisition

  • Acquired approximately 134 acres of land in Kakinada, Andhra Pradesh
  • Land provides strategic base to support long-term capacity and growth requirements

Regulatory Filings

  • 2 DMFs filed in Q2FY27 for Fezolinetant and Ivacaftor

Management Commentary

Mr. Saharsh Davuluri, Chief Executive Officer and Managing Director, stated:

  • Dip in quarterly performance acknowledged, but H1 FY27 was largely in line with plan
  • Growth expectations remain intact for FY27 and the following year
  • Commercial CMS molecules continue to drive near-term growth
  • Strong RFP activity and progress with Big Pharma support customer diversification
  • Investments in peptides, R&D and land acquisition strengthen capabilities and enable expansion with agility

Investor Relations

Earnings Call Details

  • Date: Tuesday, November 3, 2026
  • Time: 17:30 hrs. IST (one hour duration)
  • Webcast available via company website
  • Transcript to be made available on company website in due course

Company Background

Neuland Laboratories is a pharmaceutical manufacturer providing:

  • Active pharmaceutical ingredients (APIs)
  • Complex intermediates
  • Custom manufacturing solutions (CMS)
  • Serves customers in approximately 80 countries