Key Decisions Approved

1. Unaudited Financial Results for Q2 FY27

The Board approved the unaudited financial results for the quarter and half year ended September 30, 2026. The results were reviewed by the statutory auditors, Kakaria and Associates LLP, who issued a limited review report.

Financial Performance Highlights (₹ in millions):

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹2,062.97
  • Other Income: ₹22.92
  • Total Income: ₹2,085.89
  • Total Expenses: ₹1,708.11
  • Profit Before Tax: ₹377.78
  • Tax Expense: ₹85.28 (Current Tax: ₹63.87, Deferred Tax: ₹21.41)
  • Net Profit: ₹292.50
  • Earnings Per Share (Basic & Diluted): ₹3.63

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹3,960.44
  • Other Income: ₹49.40
  • Total Income: ₹4,009.84
  • Total Expenses: ₹3,224.14
  • Profit Before Tax: ₹785.70
  • Tax Expense: ₹252.77 (Current Tax: ₹149.00, Deferred Tax: ₹103.77)
  • Net Profit: ₹532.93
  • Earnings Per Share (Basic & Diluted): ₹6.62

Comparative Performance (YoY):

Q2 FY27 net profit declined 42% from ₹504.27 million in Q2 FY26, while revenue remained relatively flat (₹2,062.97 million vs ₹1,998.33 million).

Balance Sheet Position as at September 30, 2026 (₹ in millions):

  • Total Assets: ₹14,216.81
  • Property, Plant and Equipment: ₹7,286.08
  • Inventories: ₹2,651.68
  • Trade Receivables: ₹1,255.80
  • Cash and Cash Equivalents: ₹410.21
  • Total Equity: ₹12,426.00
  • Paid-up Equity Share Capital: ₹160.97

Cash Flow Statement (Half Year Ended September 30, 2026):

  • Net Cash from Operating Activities: ₹608.84 million
  • Net Cash used in Investing Activities: ₹(388.32) million
  • Net Cash used in Financing Activities: ₹(85.11) million

2. Appointment of Chief Operating Officer

The Board approved the appointment of Mr. Mangesh Vaze as Chief Operating Officer and Senior Management Personnel effective November 6, 2026, upon recommendation of the Nomination and Remuneration Committee.

Mr. Vaze's Profile:

  • Education: B.E. Chemical Engineering and Executive MBA specialized in strategy, marketing, finance
  • Experience: 34 years in Production, Process Engineering, API Manufacturing and Operations
  • Previous associations: Zydus Lifescience Ltd., Cipla Ltd., Mylan Laboratories Ltd., Apotex Pharmachem India Pvt Ltd, Wockhardt Ltd., Orchid Chemicals & Pharmaceuticals Ltd., and Lupin Ltd.
  • Not related to any director of the company

Additional Notes from Financial Statements

1. The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013.

2. Material intended for export in Q1 FY27 was detained by Customs during transit but was successfully exported on October 2, 2026, after obtaining clearance.

3. The company has no subsidiary/associate/joint venture company as of September 30, 2026.

4. The Board meeting commenced at 10:30 AM and concluded at 12:40 PM on November 6, 2026.

Auditor's Review

Kakaria and Associates LLP conducted a review of the interim financial information in accordance with Standard on Review Engagements (SRE) 2410. Their review concluded that nothing came to their attention causing them to believe that the financial results contained any material misstatement.