Financial Highlights (₹ in Crores)

Quarterly Performance Comparison

| Particulars | Q1FY26 | Q4FY26 | Q1FY27 | YoY Change | QoQ Change |

| Revenue from Operations | 24.67 | 33.20 | 14.36 | -42% | -57% |

| Total Income | 25.33 | 34.22 | 15.30 | -40% | -55% |

| Operating Expenses | 17.37 | 21.87 | 11.01 | -37% | -50% |

| EBITDA (Excluding OI & EI) | 7.30 | 11.37 | 3.35 | -54% | -71% |

| EBITDA % | 29.6% | 34.3% | 23.3% | -624 bps | -1,092 bps |

| Finance Cost | 0.94 | 0.88 | 0.32 | -66% | -64% |

| Depreciation & Amortization | 2.42 | 2.80 | 2.44 | 1% | -13% |

| PBT | 4.60 | 8.72 | 1.53 | -67% | -82% |

| PAT | 3.45 | 6.27 | 1.12 | -68% | -82% |

| EPS (₹) | 2.69 | 4.88 | 0.87 | -68% | -82% |

Management Commentary

Promoter Mr. Gunjan Kothia described Q1FY27 as challenging due to subdued European demand, with customers deferring orders amidst geopolitical uncertainty and raw material market volatility. The subdued demand environment persisted into early Q2FY27.

Strategic Developments

During Q1FY27, the company's marketing and manufacturing agreement with an EU distributor automatically terminated due to non-performance under the commercial agreement terms. This enables direct customer engagement, though management expects the transition to take a couple of quarters before volumes are meaningfully restored, with confidence in returning to prior run-rate levels in H2FY27.

CRAMS engagements in South-East Asia continue progressing as expected, with revenue contributions anticipated from H2FY27.

Guidance Update

Due to persistent geopolitical headwinds, customer caution, and a softer first half, management moderated earlier guidance of FY27 being a year of non-linear growth. The CRAMS pipeline and Block 7 commissioning remain on track, with confidence in meaningful H2FY27 performance improvement as catalysts come online.

Company Background

Shree Ganesh Remedies Limited is a CMO & CDMO specializing in pharmaceutical intermediates and specialty chemicals with over 19 years of experience. The company serves over 20 countries including EU and US markets, holds ISO certifications and EcoVadis Bronze accreditation, and has ongoing expansions at Ankleshwar and Dahej sites.

Forward-Looking Statements Disclaimer

The document contains forward-looking statements subject to risks including government actions, economic developments, and technological risks. The company undertakes no obligation to update these statements.