Viyash Scientific Limited

Board Meeting Details

The Board of Directors meeting was held on November 13, 2026, commencing at 3:30 PM and concluding at 5:15 PM. The trading window for dealing in company securities remains closed until 48 hours from this announcement.

Standalone Financial Performance (₹ in Million)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹3,906.50 (vs ₹3,397.50 in Q2 FY26)
  • Other income: ₹107.40
  • Total income: ₹4,013.90
  • Profit before tax: ₹319.10 (vs ₹326.70 in Q2 FY26)
  • Tax expense: ₹85.50
  • Profit after tax: ₹233.60 (vs ₹228.40 in Q2 FY26)
  • Basic EPS: ₹0.53 (vs ₹0.53 in Q2 FY26)
  • Diluted EPS: ₹0.52 (vs ₹0.52 in Q2 FY26)

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹7,443.40 (vs ₹6,679.30 in H1 FY26)
  • Other income: ₹253.30
  • Total income: ₹7,696.70
  • Profit before tax: ₹598.00 (vs ₹568.60 in H1 FY26)
  • Tax expense: ₹155.20
  • Profit after tax: ₹442.80 (vs ₹401.40 in H1 FY26)
  • Basic EPS: ₹1.01 (vs ₹0.93 in H1 FY26)
  • Diluted EPS: ₹0.98 (vs ₹0.91 in H1 FY26)

Standalone Balance Sheet (as at September 30, 2026)

  • Total assets: ₹38,762.60 million (vs ₹36,550.40 million as at March 31, 2026)
  • Equity share capital: ₹883.20 million (vs ₹873.70 million as at March 31, 2026)
  • Other equity: ₹32,563.60 million (vs ₹31,017.00 million as at March 31, 2026)
  • Total equity: ₹33,446.80 million (vs ₹31,890.70 million as at March 31, 2026)

Consolidated Financial Performance (₹ in Million)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹9,879.40 (vs ₹8,503.00 in Q2 FY26)
  • Other income: ₹117.80
  • Total income: ₹9,997.20
  • Profit before tax: ₹1,176.80 (vs ₹1,023.70 in Q2 FY26)
  • Tax expense: ₹330.30
  • Profit after tax: ₹846.50 (vs ₹729.00 in Q2 FY26)
  • Profit attributable to owners: ₹761.70 (vs ₹549.10 in Q2 FY26)
  • Basic EPS: ₹1.74 (vs ₹1.28 in Q2 FY26)
  • Diluted EPS: ₹1.69 (vs ₹1.26 in Q2 FY26)

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹19,343.00 (vs ₹16,419.40 in H1 FY26)
  • Other income: ₹200.90
  • Total income: ₹19,543.90
  • Profit before tax: ₹2,300.90 (vs ₹1,507.10 in H1 FY26)
  • Tax expense: ₹661.50
  • Profit after tax: ₹1,639.40 (vs ₹1,097.50 in H1 FY26)
  • Profit attributable to owners: ₹1,420.40 (vs ₹867.30 in H1 FY26)
  • Basic EPS: ₹3.25 (vs ₹2.01 in H1 FY26)
  • Diluted EPS: ₹3.14 (vs ₹1.98 in H1 FY26)

Consolidated Balance Sheet (as at September 30, 2026)

  • Total assets: ₹51,310.60 million (vs ₹46,283.90 million as at March 31, 2026)
  • Equity share capital: ₹883.20 million (vs ₹873.70 million as at March 31, 2026)
  • Other equity: ₹30,763.50 million (vs ₹28,236.90 million as at March 31, 2026)
  • Non-controlling interest: ₹2,284.70 million (vs ₹2,036.70 million as at March 31, 2026)
  • Total equity: ₹33,931.40 million (vs ₹31,147.30 million as at March 31, 2026)

Significant Accounting Treatment - Scheme of Amalgamation

The financial results reflect the Composite Scheme of Amalgamation approved by NCLT, Hyderabad vide order dated November 18, 2025, with appointed date of April 1, 2025. The scheme became effective on December 16, 2025.

Share Allotment under Scheme:

  • Allotted 18,192,1827 equity shares of ₹2 each to shareholders of erstwhile Viyash Life Sciences Private Limited
  • Allotted 2,034,1257 warrants to warrant holders of erstwhile Viyash Life Sciences Private Limited
  • Received consideration of ₹925.20 million during FY26 (25% of warrant consideration)

The amalgamation has been accounted using 'Pooling of interest method' under Appendix C to Ind AS 103. Comparative figures have been restated as if the amalgamation occurred from April 1, 2024.

Exceptional Items

Expenses related to Scheme of Amalgamation:

  • Q2 FY26: ₹17.00 million
  • H1 FY26: ₹29.50 million
  • FY26: ₹442.10 million

No exceptional items recorded in current period (Q2 FY27 and H1 FY27).

ESOP Scheme 2026

During Q1 FY27, company granted 13,098,000 employee stock options (2.8% of post-amalgamation paid-up capital) under Viyash Scientific Limited Employee Stock Option Scheme 2026, resulting in incremental expense of:

  • ₹193 million for Q1 FY27
  • ₹570 million for H1 FY27
  • ₹377 million for Q2 FY27

Investment in Subsidiary

Board approved investment of ₹4,000.22 million by subscription to rights issue of equity shares of Alivira Animal Health Limited (AAHL), a wholly owned subsidiary, settled through adjustment against intercompany loan.

Acquisition Update

Through step-down subsidiary Alivira Animal Health Limited, Ireland, entered into share purchase agreement on July 21, 2026 for acquisition of 100% of BioForLife Italia S.r.l for EURO 16.976 million (including deferred consideration of EURO 1.976 million). Acquisition completed subsequent to quarter end after receiving approvals.

Auditor's Review

SRBC & CO LLP conducted limited review and issued unmodified reports on both standalone and consolidated financial results. The review report draws attention to the accounting treatment of the Scheme of Amalgamation.

Hyperinflation Accounting

Group applied Ind AS 29 on Turkish subsidiaries due to hyperinflationary economy, restating non-monetary assets, liabilities, equity and statement of profit and loss using general price index of Turkish economy.