Emcure Pharmaceuticals Limited — Q2FY27 earnings call summary

Filed 06 November 2026 · Official transcript

Raised FY27 revenue growth outlook to >20%; EBITDA margin expansion at upper end of 75-100 bps guidance
Operating leverage expected to keep SG&A growth below revenue growth
R&D spend at 4% of revenue, expected to increase in H2FY27
Net debt INR1,317 Cr as of Sep 2026; committed to net cash by FY28
Amphotericin B key growth driver in Europe; treprostinil also expected to contribute
Management confident of sustaining growth momentum into FY28
No major raw material cost impact on gross margin in Q2; some input cost pressures noted
Q2FY27 revenue grew 24% y-y to INR2,820 Cr; EBITDA rose 31% to INR575 Cr with 20.4% margin (+100 bps y-y)