Financial Results Summary

Quarterly Performance (Q2 2026 vs Q2 2025)

  • Revenue from Operations: ₹4,377 million (up from ₹4,063 million)
  • Total Income: ₹4,439 million (up from ₹4,150 million)
  • Profit before tax and exceptional items: ₹1,123 million (up 19% from ₹941 million)
  • Profit for the period: ₹835 million (up 20% from ₹695 million)
  • Basic and diluted EPS: ₹36.26 (up from ₹30.18)

Half-Year Performance (H1 2026 vs H1 2025)

  • Revenue from Operations: ₹9,100 million (down from ₹9,422 million)
  • Total Income: ₹9,206 million (down from ₹9,542 million)
  • Profit before tax and exceptional items: ₹2,502 million (down from ₹2,594 million)
  • Profit for the period: ₹1,861 million (down from ₹1,890 million)
  • Basic and diluted EPS: ₹80.81 (down from ₹82.07)

Key Financial Metrics

  • Domestic net sales growth: 8% YoY in Q2 2026
  • Total net sales growth: 6% YoY in Q2 2026
  • Insulin portfolio growth: 14% YoY for second consecutive quarter
  • Public sector business acceleration: 70% growth
  • Partnership revenues growth: 2% in Q2 2026
  • Profit before tax margin: 27% in Q2 2026 (up from 24% in Q2 2025)
  • Operating expenses decline: 5% compared to Q2 2025

Operational Highlights

  • Insulin portfolio maintained strong market position with 58% value market share and 61% volume market share in basal analog market (Source: IQVIA MAT June 2026)
  • Key products driving growth: Lantus®, Toujeo®, Apidra®, and Soliqua®
  • Public sector business expanded through new accounts for Toujeo® and Soliqua® under CARE Accounts initiative
  • Strategic partnerships established in Cardiovascular, Oral anti-Diabetes and Central Nervous System segments
  • Export sales remained broadly stable

Balance Sheet Position (as of June 30, 2026)

  • Total Assets: ₹14,074 million (up from ₹12,548 million as of December 31, 2025)
  • Cash and cash equivalents: ₹3,590 million (up from ₹2,629 million)
  • Inventories: ₹3,112 million (similar to ₹3,116 million)
  • Trade receivables: ₹2,321 million (up from ₹1,767 million)
  • Total Equity: ₹8,260 million (up from ₹7,492 million)
  • Reserves and surplus: ₹8,030 million (up from ₹7,262 million)

Cash Flow Statement (H1 2026)

  • Cash generated from operations: ₹2,567 million
  • Net cash inflow from operating activities: ₹2,114 million
  • Net cash outflow from investing activities: ₹23 million
  • Net cash outflow from financing activities: ₹1,130 million (including dividend payment of ₹1,105 million)
  • Net increase in cash and cash equivalents: ₹961 million

Board Meeting Outcomes

The Board of Directors meeting held on August 4, 2026 (4:00 p.m. to 6:58 p.m.) approved:

1. Unaudited Financial Results for quarter and half year ended June 30, 2026

2. Re-constitution of committees effective October 1, 2026:

Stakeholders Relationship Committee

  • Mr. Siraj Chaudhry (Independent Director) - Chairman
  • Mr. Deepak Arora (Managing Director) - Member
  • Ms. Sudipta Chakraborty (Whole Time Director) - Member

Risk Management Committee

  • Ms. Rajani Kesari (Independent Director) - Chairperson
  • Mr. Siraj Chaudhry (Independent Director) - Member

3. Removal of Mr. Rachid Ayari as Whole Time Director and Chief Financial Officer from list of Key Managerial Persons authorized to determine materiality of events, effective close of business hours on September 30, 2026

Additional Information

  • Company has single business segment: 'Pharmaceutical Business'
  • Financial statements prepared in accordance with Indian Accounting Standards (Ind AS)
  • Exceptional item of ₹273 million related to personnel separation costs for year ended December 31, 2025
  • Paid-up equity share capital: ₹230 million (Face Value of ₹10 per share)