Tarsons Products Limited has submitted an investor presentation containing financial and operational highlights for Q2 and H1 FY27 ended September 30, 2026, pursuant to Regulation 30 of SEBI LODR Regulations, 2015.

Financial Performance Highlights

Standalone Financials (₹ cr):

  • Q2 FY27 Revenue: ₹100.2 cr (24.5% YoY growth from ₹80.5 cr in Q2 FY26)
  • H1 FY27 Revenue: ₹186.4 cr (22.8% YoY growth from ₹151.8 cr in H1 FY26)
  • Q2 FY27 Gross Margin: 67.3% (down 560 bps from 72.8% in Q2 FY26)
  • H1 FY27 Gross Margin: 67.2% (down 500 bps from 72.2% in H1 FY26)
  • Q2 FY27 EBITDA: ₹30.6 cr (16.9% YoY growth)
  • H1 FY27 EBITDA: ₹54.7 cr (13.1% YoY growth)
  • Q2 FY27 PAT: ₹3.1 cr (52.7% YoY decline from ₹6.5 cr)
  • H1 FY27 PAT: ₹3.8 cr (62.7% YoY decline from ₹10.1 cr)
  • Q2 FY27 Cash PAT: ₹29.0 cr (8.6% YoY growth)
  • H1 FY27 Cash PAT: ₹54.2 cr (13.0% YoY growth)

Consolidated Financials (₹ cr):

  • Q2 FY27 Revenue: ₹123.7 cr (20.8% YoY growth from ₹102.3 cr)
  • H1 FY27 Revenue: ₹233.9 cr (20.8% YoY growth from ₹193.7 cr)
  • Q2 FY27 PAT: ₹-0.3 cr (from ₹3.3 cr profit in Q2 FY26)
  • H1 FY27 PAT: ₹-1.8 cr (from ₹5.1 cr profit in H1 FY26)
  • Q2 FY27 Cash PAT: ₹27.9 cr (8.2% YoY growth)
  • H1 FY27 Cash PAT: ₹53.5 cr (12.6% YoY growth)

Business Segment Performance

Domestic Business: Delivered 19% YoY growth in Q2 FY27 and 18% YoY growth in H1 FY27, supported by revival in demand across healthcare and pharmaceuticals industries.

Exports Business: Showed recovery with 37% YoY growth in Q2 FY27 and 33% YoY growth in H1 FY27 across multiple geographies.

Nerbe Business: Steady performance with 7% growth in Q2 FY27 and 13% growth in H1 FY27.

Management Commentary

Mr. Aryan Sehgal, Promoter and Whole Time Director, commented that growth was driven by deeper customer penetration and improving underlying demand, with customer enquiries remaining encouraging. Margins were impacted by higher raw material prices due to supply chain disruptions from geopolitical challenges, change in product mix, and expenses associated with new facilities.

Facility Updates

  • Amta Facility: Fully operational, equipped with radiation plant, warehousing infrastructure and expanded manufacturing capacity
  • Panchla Facility: Select production lines have commenced operations; cell culture lines expected to become operational in H2 FY27
  • Both facilities are experiencing accelerated depreciation and higher finance costs, with revenues expected to contribute meaningfully from FY28 onwards

Balance Sheet (Consolidated, Sep-26 vs Mar-26)

  • Total Assets: ₹1,179.5 cr (vs ₹1,185.8 cr)
  • Property, Plant & Equipment: ₹645.2 cr (vs ₹656.8 cr)
  • Capital WIP: ₹167.7 cr (vs ₹158.6 cr)
  • Inventories: ₹134.0 cr (vs ₹129.8 cr)
  • Trade receivables: ₹89.5 cr (vs ₹85.4 cr)
  • Cash and cash equivalents: ₹15.7 cr (vs ₹23.2 cr)
  • Total Equity: ₹633.1 cr (vs ₹634.7 cr)
  • Borrowings (Non-current + Current): ₹387.4 cr (vs ₹382.6 cr)

Cash Flow (Consolidated H1 FY27 vs H1 FY26)

  • Net Cash from Operating Activities: ₹53.8 cr (vs ₹44.5 cr)
  • Net Cash from Investing Activities: ₹-50.8 cr (vs ₹-78.3 cr)
  • Net Cash from Financing Activities: ₹-9.9 cr (vs ₹32.1 cr)
  • Net Decrease in Cash: ₹-6.9 cr (vs ₹-1.7 cr)

Company Overview

Tarsons is a leading Indian labware company with 40+ years of experience, supplying products to over 40 countries through 45+ distributors. The company has:

  • 6 vertically integrated manufacturing facilities in West Bengal
  • 2,000+ SKUs across 350 product segments
  • Pan-India distribution network
  • Market share of approximately 9-12% in Indian labware market
  • Quality Certifications: ISO 9001, 13485 & 14001

Additional Notes

The presentation includes forward-looking statements subject to risks and uncertainties. The document was submitted to exchanges on November 13, 2026, and will be available on the company's website at www.tarsons.com.