Q2 & H1 FY27 Financial Performance

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹196.7 crore, up 21% YoY (Q2 FY26: ₹162.7 crore)
  • EBITDA: ₹73.2 crore, up 32% YoY (Q2 FY26: ₹55.5 crore)
  • EBITDA Margin: 37.2%, improved by 310 bps YoY (Q2 FY26: 34.1%)
  • Profit After Tax: ₹51.8 crore, up 11% YoY (Q2 FY26: ₹46.7 crore)
  • PAT Margin: 26.3% (Q2 FY26: 28.7%)
  • EPS: ₹4.59 (Q2 FY26: ₹4.20)

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹355.0 crore, up 23% YoY (H1 FY26: ₹287.6 crore)
  • EBITDA: ₹128.1 crore, up 29% YoY (H1 FY26: ₹99.3 crore)
  • EBITDA Margin: 36.1% (H1 FY26: 34.5%)
  • Profit After Tax: ₹92.4 crore, up 18% YoY (H1 FY26: ₹78.0 crore)
  • PAT Margin: 26.0% (H1 FY26: 27.1%)
  • EPS: ₹8.18 (H1 FY26: ₹7.05)

Operational Highlights

  • Achieved highest-ever quarterly revenue and EBITDA in Q2 FY27
  • Pharma, Food & Nutrition (PFN) segment contributed 72% of total revenue
  • Specialty Ingredients segment accounted for 28% of total revenue
  • AbsorBis portfolio showed strong growth momentum with new customer additions and progress in Magnesium Bisglycinate approvals
  • NSS secured approvals from 5 customers with pipeline of approximately 12 projects

Capacity Expansion & Strategic Developments

Nandesari Greenfield Facility

  • Received FDA approval for Nandesari facility with annual capacity of 51,200 MT
  • Internal validation completed, customer validation in progress
  • Commercial supplies expected to commence in H2 FY27
  • Total project cost: approximately ₹168 crores, financed through internal accruals

Dahej Battery Materials Plant (Sudeep Advanced Materials)

  • Phase 1 capacity of 25,000 MTPA targeted for completion by March 2027
  • Commercial operations expected from April 2027
  • Project cost: approximately ₹300 crores, financed through internal accruals and debt
  • Land area: 80,980 square meters
  • Evaluating potential expansion to approximately 105,000 MTPA capacity, with further 100,000 MTPA under evaluation
  • Upgraded existing pharma iron phosphate capacity to produce 5,000 MT of battery-grade material

Customer Engagement (SAMPL)

  • 46 active customers
  • 28 product approvals
  • 0 sample rejections
  • 8 MOUs signed
  • Multiple binding offtake agreements in discussions, targeted to be signed by Q4 FY27

Balance Sheet Position (as of September 2026)

  • Total Assets: ₹1,328.6 crore (March 2026: ₹1,174.9 crore)
  • Property, plant and equipment: ₹400.6 crore (March 2026: ₹224.0 crore)
  • Capital work-in-progress: ₹53.8 crore (March 2026: ₹178.4 crore)
  • Inventories: ₹274.9 crore (March 2026: ₹216.0 crore)
  • Trade receivables: ₹246.1 crore (March 2026: ₹227.5 crore)
  • Cash and cash equivalents: ₹53.8 crore (March 2026: ₹26.7 crore)
  • Total Equity: ₹972.8 crore (March 2026: ₹898.1 crore)
  • Borrowings: ₹187.6 crore (Non-current: ₹62.4 crore, Current: ₹125.2 crore)

Cash Flow Statement (H1 FY27)

  • Cash generated from Operations: ₹66.1 crore
  • Net Cash from Operating Activities: ₹43.5 crore
  • Net Cash from Investing Activities: (₹32.9) crore
  • Net Cash from Financing Activities: ₹16.1 crore
  • Net Increase in Cash and Cash equivalents: ₹26.8 crore

Historical Financial Performance

  • FY26 Revenue: ₹642.3 crore, PAT: ₹174.3 crore, EPS: ₹15.50
  • FY25 Revenue: ₹502.0 crore, PAT: ₹138.7 crore, EPS: ₹12.78
  • FY24 Revenue: ₹459.3 crore, PAT: ₹133.2 crore, EPS: ₹12.28
  • FY23 Revenue: ₹428.7 crore, PAT: ₹62.3 crore, EPS: ₹5.74

Manufacturing Capacity Overview

  • Existing 4 facilities with combined annual capacity of 72,246 MT as of June 30, 2025
  • Upcoming Nandesari facility: 51,200 MT annual capacity
  • Total available capacity: 123,446 MT
  • Global presence with 15 warehouses worldwide
  • 35 global accreditations and certifications
  • First in India to have USFDA approval for mineral-based ingredients

Management Commentary

Mr. Sujit Bhayani, Managing Director, stated that the company delivered its highest-ever quarterly performance despite global uncertainties and elevated logistics costs. He highlighted healthy demand across Pharma, Food & Nutrition and Specialty Ingredients businesses, supported by favorable product mix and improved operating efficiencies. The company remains focused on operational excellence, cost efficiencies and improving working capital discipline.

Note on NSS Acquisition

Nutrition Supplies & Services (Ireland) Limited has been contributing to revenue since 22nd May 2025, with manufacturing capacity of 7,500+ MT and 200 tailored premix products.