Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Q2 FY27 revenue grew 52% y-y to INR87.42 Cr; H1 FY27 revenue up 45% to INR160.39 Cr - Q2 EBITDA rose 114% to INR24.35 Cr with margin improving to 28% from 20%; H1 EBITDA up 90% at 28% margin - PAT grew 149% in Q2 to INR11.31 Cr and 134% in H1 to INR21.59 Cr - Oncology revenue ~INR50 Cr in Q2; domestic INR43 Cr, export INR8.2 Cr; API sales ~INR36-37 Cr H1 FY27 - Oncology expected to cross 60% revenue share in 2-3 years; FY28 oncology growth guided 35%+ - EBITDA margin expected ~30% currently; 35%+ margin targeted in 2-3 years post full API integration - Capacity utilization: Bavla plant ~26%, Changodar ~36-37% - 22 marketing authorizations received; 6 molecules commercialized; 33 technology transfers ongoing - CDMO export ~INR4.7 Cr of oncology export; rest from own registrations - Site variation portfolio potential ~INR100 Cr; oncology sales target INR300 Cr in FY28 with own MAs contributing INR20-30 Cr - Management confident on long-term growth driven by approvals, partnerships, and integrated oncology strategy