Earning call Transcript Q1 FY 2026-27

AI summary - Q1 FY27 revenue Rs. 946 Cr +20% y-y; EBITDA Rs. 205 Cr +59% y-y; margin 21.6% +530 bps y-y; PAT Rs. 79 Cr +115% y-y - Net debt down to Rs. 86 Cr; net debt/EBITDA 0.1x vs 1x a year ago - Animal Health formulation strong growth; domestic market +60%; new product launches and geo-expansion ongoing - US Human formulation grew 60% y-y; margin improved via vertical integration and API sourcing from India - API flat q-o-q due to timing; strong rebound expected in Q2; Animal API capacity expanded with US approvals - BioForLife acquisition in Italy to close soon; adds 85 companion animal products and strong vet clinic coverage - FY27 capex Rs. 250-300 Cr; focus on R&D, manufacturing, and selective inorganic growth - High potent oncology API/formulation R&D progressing; revenues expected from 2029 onwards - Management committed to compliance, governance, and disciplined capital allocation - Minority interest ~17% of profits; plans to acquire full ownership in 1-2 years