Key Board Approvals
1. Approval of Unaudited Financial Results: The Board approved the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, pursuant to Regulation 33 of the Listing Regulations. The results were reviewed by the Audit Committee and are accompanied by a Limited Review Report from the statutory auditor, S R B C & CO LLP.
2. Approval of Promoter Reclassification: The Board approved requests for the reclassification of certain individuals from the "Promoter Group" category to the "Public" category. This approval is subject to receipt of necessary approvals as prescribed under Regulation 31A of the Listing Regulations. This follows a previous intimation dated July 27, 2026.
Detailed Standalone Financial Results (Q1 FY27)
Quantitative Figures (in ₹ Lakhs):
- Revenue from Operations: ₹3,992 (vs. ₹1,85,322 in Q4 FY26; ₹964 in Q1 FY26)
- Revenue from contracts with customers: ₹3,992
- Other operating revenue: ₹0 (vs. ₹1,84,002 in Q4 FY26)
- Other Income: ₹2,366
- Total Income: ₹6,358 (vs. ₹1,85,502 in Q4 FY26)
- Total Expenses: ₹8,456
- Employee benefits expense: ₹2,416
- Professional charges: ₹2,124
- Clinical trial/products development expense: ₹1,326
- Cost of materials consumed: ₹766
- Finance costs: ₹813
- Depreciation and amortisation: ₹220
- Other expenses: ₹791
- Profit/(Loss) before tax: (₹2,098) (vs. ₹1,76,070 profit in Q4 FY26; ₹5,203 loss in Q1 FY26)
- Tax Expense: ₹0
- Profit/(Loss) for the period: (₹2,098) (vs. ₹1,76,070 profit in Q4 FY26; ₹5,203 loss in Q1 FY26)
- Total Comprehensive Profit/(Loss): (₹2,098)
- Paid-up equity share capital: ₹3,245 Lakhs (Face value ₹1 each)
- Basic and diluted EPS: (₹0.65) (vs. ₹54.26 in Q4 FY26; (₹1.60) in Q1 FY26)
Detailed Consolidated Financial Results (Q1 FY27)
Quantitative Figures (in ₹ Lakhs):
- Profit/(Loss) for the period attributable to owners: (₹2,078) (vs. ₹1,76,134 profit in Q4 FY26; ₹5,187 loss in Q1 FY26)
- Basic and diluted EPS: (₹0.64) (vs. ₹54.27 in Q4 FY26; (₹1.60) in Q1 FY26)
- Other figures for revenue and expenses are largely consistent with the standalone results.
Notes to the Financial Results
1. Exceptional Item (Prior Period): In the previous financial year (FY26), the company recognized an incremental cost of ₹1,236 Lakhs as an exceptional item due to the implementation of the New Labour Codes effective November 21, 2025.
2. Termination of Licensing Agreement: During the quarter ended June 30, 2026, the company and CMS Bridging DMCC ("CMS") mutually agreed to terminate their licensing agreement dated November 5, 2019. Pursuant to this, the company refunded USD 2 million (₹1,889 Lakhs) to CMS and recognized revenue of ₹2,921 Lakhs relating to non-refundable consideration.
3. Priority Review Voucher (PRV) - Prior Period: During the quarter ended March 31, 2026 (Q4 FY26), the company recognized income of ₹184,002 Lakhs from a Priority Review Voucher (PRV) granted by the USFDA on February 3, 2026, for Sezaby®. The PRV was sold on April 30, 2026, for USD 195 million and was accounted for as a non-monetary government grant.
4. Preferential Allotment of Warrants: On May 19, 2026, the company allotted 3,85,10,000 warrants to Shanghvi Finance Private Limited on a preferential basis at an issue price of ₹155.80 each. 25% of the issue price (₹38.95 per warrant) has been received. The balance 75% (₹116.85 per warrant) is payable within 18 months from the allotment date upon exercise of the conversion option into equity shares.
5. Segment Reporting: The company has only one reportable business segment: 'Pharmaceutical Research and Development'.
6. Consolidation: The consolidated results include the company and its subsidiaries, SPARCLIFE, Inc. and Genokine Biotech Limited.
Auditor's Review
S R B C & CO LLP, Chartered Accountants, issued a review report stating that based on their review, nothing has come to their attention that causes them to believe the financial results contain any material misstatement. The review was conducted in accordance with SRE 2410.