Syngene Q1 FY27 Revenue Drops 16% to Rs. 736 Cr

Revenue & Profitability:

Revenue from operations: Rs. 736 Cr vs Rs. 875 Cr (down 16% YoY)
Operating EBITDA: Rs. 91 Cr vs Rs. 206 Cr (down 56% YoY)
Operating EBITDA margin: 12% vs 24% (down 1,127 bps)
PAT before exceptional item: Rs. 11 Cr vs Rs. 87 Cr
PAT margin before exceptional item: 0% vs 10%
PAT after exceptional item: (Rs. 9 Cr) vs Rs. 87 Cr (down 110%)
Exceptional item: Rs. 10 Cr (net of tax) related to termination benefits extended to employees

Cost Breakdown (Q1 FY27 vs Q1 FY26):

Material costs: Rs. 173.4 Cr vs Rs. 217.7 Cr (down 20.3%); Margin: 23.6% vs 24.9%
Staff costs: Rs. 281.4 Cr vs Rs. 291.5 Cr (down 3.5%); Margin: 38.2% vs 33.3%
Other direct costs: Rs. 29.9 Cr vs Rs. 26.0 Cr (up 15.1%); Margin: 4.1% vs 3.0%
Other expenses: Rs. 110.4 Cr vs Rs. 128.1 Cr (down 13.8%); Margin: 15.0% vs 14.6%
Foreign exchange loss: Rs. 50.1 Cr vs Rs. 4.8 Cr

Other Financial Metrics:

Other income: Rs. 25.3 Cr vs Rs. 17.7 Cr (up 43.1%)
Reported revenue: Rs. 761.3 Cr vs Rs. 892.2 Cr (down 14.7%)
Depreciation and amortization: Rs. 112.2 Cr vs Rs. 111.2 Cr (up 0.9%)
Finance costs: Rs. 9.6 Cr vs Rs. 11.6 Cr (down 16.9%)
PBT: (Rs. 5.7 Cr) vs Rs. 101.3 Cr (down 105.6%)
Tax: Rs. 6.7 Cr credit vs Rs. 14.6 Cr expense

Assets:

Liabilities & Equity:

Executive Chairperson Kiran Mazumdar-Shaw:

Accepted role of Executive Chairperson to reshape company's next phase of growth
Company will reposition for sustainable growth driven primarily by CDMO and AI-led advanced services
Board has confidence in management's ability to execute with focus and discipline

Managing Director and CEO Siddharth Mittal:

Immediate priorities are to sharpen commercial execution and strengthen delivery across businesses
Focus on building a more agile, cost-competitive organization
Continue investing in CDMO, AI, innovation and differentiated scientific capabilities

CFO Deepak Jain:

Performance impacted by lack of offtake from major biologics client and forex hedge loss
Cost optimization initiatives partially offset the impact
Expects degrowth in first half of fiscal year, improvement in second half
Full-year guidance: single-digit revenue degrowth in rupee terms, EBITDA margins in mid-20s

Departures:

Dr. Kush Parmar stepped down as Independent Director (served since 2021, member of Risk Management Committee and Science and Technology Committee)

Appointments:

Dr. Vijaya Chandru appointed as Independent Director - academic entrepreneur with 25+ years in deep-tech innovation, expertise in AI, computational biology, genomics, and CRISPR-based biotechnology
Dr. Arun Chandavarkar appointed as Independent Director - former CEO and Joint MD of Biocon Limited, played key role in Biocon's IPO, biologics partnerships, R&D expansion

Strategic Partnerships:

Signed MoU with BRIC-Translational Health Science and Technology Institute (THSTI) for clinical development, translational research, and bioanalytical sciences
Collaboration will enable evaluation and execution of First-in-Human (FIH) and Phase I clinical programs

Technology Development:

Strengthened Syn.AI AI-enabled scientific platform for drug discovery services
Developed gigascale virtual screening capabilities for larger molecule libraries
Advanced AI-driven de novo design capabilities for novel drug candidates

Recognition:

Featured in TIME Magazine and Statista's "World's Most Sustainable Companies 2026" ranking for second consecutive year
Ranked among world's top 750 most sustainable companies from 5,800+ companies across 43 countries

Earnings Call: Scheduled for July 30, 2026, at 9 am IST

Employee Strength: Over 8,300 employees including 5,700+ scientists

Facilities: Over 3 million sq. ft of specialized discovery, development, and manufacturing facilities across India and U.S.

Customer Base: Works with approximately 400 global customers including BMS, GSK, Zoetis, and Merck KGaA