Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue grew 17% y-y to Rs 4,338 Cr; EBITDA up 27.2% to Rs 1,175 Cr; margin improved 210 bps to 27.1% - Domestic business ex-consumer grew 15.9% y-y; chronic share rose 80 bps to 37.4% - International business grew 33% y-y; BSV specialty and new US launches driving growth - Gross margin expanded 90 bps to 72.2%; R&D spend at 2.5% of sales, below 3% guidance - Net debt reduced to Rs 2,639 Cr; net debt/EBITDA at 0.6x; capex at 4.9% of revenue - Management confident of sustaining IPM outperformance; chronic share target 50% in 4-5 years - Consumer healthcare growth muted; single-digit growth expected in FY27; recovery anticipated in FY28 - ACTx funding secured till FY28; open to partnerships or further investment based on clinical results