Board Meeting Details

The Board of Directors meeting was held on October 26, 2026, commencing at 2:45 PM and concluding at 6:00 PM. The meeting approved the unaudited financial results for the quarter and half-year ended September 30, 2026.

Financial Results - Standalone (₹ in Crores, except EPS)

Quarterly Performance (Q2 FY2027)

  • Revenue from Operations: ₹218.76
  • Other Income: ₹0.40
  • Total Income: ₹219.16
  • Total Expenses: ₹182.39
  • Cost of Material Consumed: ₹97.39
  • Purchase of stock in trade: ₹2.13
  • Changes in Inventories: ₹6.73
  • Employee benefits expense: ₹25.82
  • Depreciation & amortization: ₹9.27
  • Selling, Manufacturing and Administrative expenses: ₹35.43
  • Research & Development expenses: ₹5.62
  • Profit before taxes: ₹36.77
  • Tax Expenses:
  • Current Tax: ₹9.25
  • Deferred Tax: (₹1.44)
  • Net Profit for the period: ₹28.96
  • EBIDTA: ₹46.04
  • Earnings Per Share (Basic & Diluted): ₹21.66

Half-Year Performance (H1 FY2027)

  • Revenue from Operations: ₹397.55
  • Other Income: ₹2.95
  • Total Income: ₹400.50
  • Total Expenses: ₹331.15
  • Profit before taxes: ₹69.35
  • Tax Expenses: ₹17.46 (Current Tax) and (₹2.57) (Deferred Tax)
  • Net Profit for the period: ₹54.46
  • EBIDTA: ₹85.13
  • Earnings Per Share (Basic & Diluted): ₹40.74

Comparative Performance

Q2 FY2027 vs Q2 FY2026:

  • Revenue increased 13.5% (from ₹192.65 crore to ₹218.76 crore)
  • Net Profit increased 50.5% (from ₹19.24 crore to ₹28.96 crore)
  • EPS increased from ₹14.40 to ₹21.66

H1 FY2027 vs H1 FY2026:

  • Revenue increased 20.5% (from ₹329.78 crore to ₹397.55 crore)
  • Net Profit increased 76.0% (from ₹30.95 crore to ₹54.46 crore)
  • EPS increased from ₹23.15 to ₹40.74

Financial Results - Consolidated (₹ in Crores, except EPS)

Quarterly Performance (Q2 FY2027)

  • Revenue from Operations: ₹218.76
  • Other Income: ₹0.51
  • Total Income: ₹219.27
  • Total Expenses: ₹185.80
  • Profit before taxes: ₹33.47
  • Net Profit for the period: ₹25.65
  • EBIDTA: ₹43.01
  • Earnings Per Share (Basic & Diluted): ₹19.19

Half-Year Performance (H1 FY2027)

  • Revenue from Operations: ₹397.62
  • Other Income: ₹3.13
  • Total Income: ₹400.75
  • Total Expenses: ₹337.24
  • Profit before taxes: ₹63.51
  • Net Profit for the period: ₹48.62
  • EBIDTA: ₹79.82
  • Earnings Per Share (Basic & Diluted): ₹36.37

Subsidiary Performance

  • Venus Pharma GmbH (Germany): Revenue ₹3.64 crore, Net Loss ₹(5.84) crore
  • Venus Pharma Kft (Hungary): Revenue Nil, Net Profit Nil

Balance Sheet Position (Standalone as of 30/09/2026)

  • Total Assets: ₹868.04 crore
  • Non-Current Assets: ₹488.95 crore
  • Property, Plant & Equipment: ₹105.80 crore
  • Capital Work in Progress: ₹74.76 crore
  • Intangible Assets: ₹83.92 crore
  • Investments: ₹172.50 crore
  • Current Assets: ₹379.09 crore
  • Inventories: ₹137.14 crore
  • Trade Receivables: ₹105.85 crore
  • Cash and Cash Equivalents: ₹17.57 crore
  • Total Equity: ₹736.22 crore
  • Equity Share Capital: ₹13.37 crore
  • Other Equity: ₹722.85 crore
  • Total Liabilities: ₹131.82 crore

Cash Flow Statement (Standalone H1 FY2027)

  • Net Cash from Operating Activities: ₹27.30 crore
  • Net Cash from Investing Activities: (₹18.72) crore
  • Net Cash from Financing Activities: (₹14.55) crore
  • Net Decrease in Cash: (₹5.97) crore
  • Closing Cash Balance: ₹17.57 crore

Key Notes and Emphasis Matters

Intellectual Property Depreciation

During the year, the Company reviewed the remaining useful life of its intellectual property (IP) in accordance with Ind AS 38. Consequently, depreciation and amortization expense for the period is higher by ₹2.77 crore.

Subsidiary Investment Emphasis Matter

The auditors highlighted an emphasis matter regarding outstanding share application money amounting to ₹285.97 crore (₹2,859.72 lakhs) in respect of Venus Pharma GmbH, a wholly owned subsidiary. The share allotment against this amount has been pending, and as per management representation, it is not mandatory to allot under applicable German laws.

Management has represented that they consider this investment strategic in nature and that the parent company intends to recover this amount through the restructuring of European operations carried out in FY 2026-27. Although the subsidiary is facing financial challenges, the Company has reiterated its intention to provide necessary financial and operational support during the transition period. A Germany-based financial consultancy firm has been engaged to advise on the appropriate framework and mechanism.

Dividend Declaration

The Board declared an interim dividend, resulting in a cash outflow of ₹13.36 crore as reflected in the financing activities of the cash flow statement.

Segment Information

The group has only one reportable segment namely "Pharmaceuticals".