Financial Performance Summary
Revenue Performance:
- Q1 FY27 Revenue from operations: ₹248 crores
- Q1 FY26 Revenue: ₹210 crores
- Year-over-Year Growth: 18%
- 14th consecutive quarter of record revenue
Profitability Metrics:
Adjusted Figures (excluding non-cash ESOP expenses):
- Adjusted EBITDA: ₹34 crores (vs. ₹27 crores in Q1 FY26), growth of 26% YoY
- Adjusted EBITDA Margin: 13.6%
- Adjusted PAT: ₹25 crores (vs. ₹18 crores in Q1 FY26), growth of 37% YoY
- PAT Margin: 10%
Reported Figures (including ESOP expenses):
- Reported EBITDA: ₹27 crores
- Reported PAT: ₹18 crores
- Reported EPS: ₹8.46
Non-cash ESOP Impact:
- Non-cash ESOP expenses: ₹7.16 crores
Vertical Performance Breakdown
| Particulars (In Rs. Crores) | Q1FY27 | Q1FY26 | Y-o-Y Growth |
| Generic Formulations CDMO | 207 | 160 | 29% |
| Trade Generics & Institutional | 30 | 44 | -32% |
| Exports | 11 | 6 | 79% |
Generic Formulations CDMO Vertical:
- Revenue: ₹207 crores in Q1 FY27
- Year-over-Year Growth: 29%
- Contribution to consolidated revenue: 84%
- Growth driven by customer expansion, deeper customer engagement, and new product launches
Trade Generics & Institutional Vertical:
- Revenue: ₹30 crores in Q1 FY27
- Year-over-Year Decline: -32%
- Contribution to consolidated revenue: 12%
- Decline attributed to discontinuation of codeine-based products
- Company expects to progressively bridge the gap with new portfolio launches and replacements
Exports Vertical:
- Revenue: ₹11 crores in Q1 FY27
- Year-over-Year Growth: 79%
- Contribution to consolidated revenue: 4%
Corporate Actions & Capital Allocation
Share Buyback:
- Successfully completed ₹47 crore share buyback
- Promoters did not participate in the buyback
Dividend Distribution:
- Dividend paid: ₹13 crores for FY26
- Dividend per share: ₹6.30 per equity share
Strategic Developments & Outlook
Capacity Expansion:
- Plant-6 commercialization on track for H1 FY27
- Will strengthen manufacturing capacity and support future growth opportunities
- Injectables and Plant-2 Extension facilities continue to drive scalable growth
Management Commentary:
- Indian Pharmaceutical Market (IPM) witnessed volume growth of 3.4% in Q1 FY27
- Company focused on creating sustainable value through disciplined execution, talent development, client diversification, capability enhancement, and expansion across dosage forms
- Priorities include strengthening strategic partnerships, expanding offerings, achieving operational excellence, accelerating portfolio development, and driving disciplined execution
- Company positioned to capitalize on opportunities across all three business verticals with modernized manufacturing base and talented workforce
Operational Focus:
- Focus on improving operational leverage
- Emphasis on long-term company level performance rather than quarterly and vertical-wise fluctuations
- Confidence in underlying growth opportunity in all three verticals