Sai Parenterals Limited has announced its un-audited financial results for the quarter and half-year ended September 30, 2026. The company reported consolidated revenue from operations of ₹196.1 crore for Q2 FY27, a 9.0% increase quarter-on-quarter. The H1 FY27 revenue stood at ₹376.0 crore. The report also highlights strategic developments including the completion of acquisitions and progress on new manufacturing facilities.
Q2 & H1 FY27 Financial Performance
Sai Parenterals Limited announced its financial results for the second quarter and first half of the financial year 2027. Consolidated revenue from operations for Q2 FY27 reached ₹196.1 crore, marking a 9.0% increase compared to ₹179.9 crore in Q1 FY27. For the first half of FY27 (H1 FY27), the consolidated revenue was ₹376.0 crore, representing approximately 50% of the FY27 revenue target of ₹750 crore.
Gross profit for Q2 FY27 stood at ₹93.1 crore, a 26.4% increase quarter-on-quarter, with the gross margin rising to 47.5% from 40.9% in Q1 FY27. This improvement is attributed to tighter inventory management and the introduction of strict first-in, first-out controls.
EBITDA for Q2 FY27 was ₹41.4 crore, up 67.4% quarter-on-quarter, with an EBITDA margin of 21.1%. The H1 FY27 EBITDA margin stood at 17.6%. Profit After Tax (PAT) for Q2 FY27 was ₹10.5 crore, a 32.7% increase sequentially, reaching ₹18.4 crore for H1 FY27.
Key Business and Strategic Developments
The company has completed the acquisition of 60% stakes in Saicriti Pharma Private Limited and Prathyak Laboratories Private Limited using IPO proceeds, investing ₹98.8 crore in total.
Saicriti Pharma’s new critical-care injectable facility is on track for completion in July 2027. This facility will enhance injectable capacity to approximately 154.66 million units.
The Unit III expansion at Bhongir is complete, increasing production capacity by 81% to 155 million units per month. Output from this expansion will primarily serve Australia and New Zealand from Q4 FY27.
Sai Parenterals’ subsidiary, Noumed, has renewed its Australian OTC medicines supply agreement, valued at AUD 30 million (approximately ₹204 crore). Total contracted Australian OTC supply now stands at AUD 232 million (approximately ₹1,506 crore).
The Adelaide facility is set to begin operations in January 2027, with commercial supply expected from around April 2027.
The company also expanded its portfolio in the Philippines during Q2 FY27 by adding 11 molecules and 22 SKUs.
Management Commentary
Mr. Anil Kumar Karusala, Chairman and Managing Director, commented that Q2 FY27 marks the beginning of the transformation showing in profitability. He highlighted the sequential revenue growth, improved gross margins, and stronger EBITDA. The company sees room to move gross margin towards 50% and expects H1 FY27 EBITDA margin to be ahead of the guided 17% for the year.
Depreciation and amortisation rose due to the capitalisation of Unit III expansion and Noumed assets, consolidation of Saicriti Pharma, and amortisation of molecules. Despite this, profit before tax remained steady.
Australia accounted for 76% of export revenue in Q2. The company plans its export capacity broadly 70:30 between Australia and other markets.
Capex projects are progressing as planned, with the Adelaide facility expected to commence operations in January 2027. The acquisition of Saicriti Pharma and Sai Prathyak Laboratories has been completed, consolidating Group R&D at Sai Prathyak, which will begin taking external CDMO contracts from FY28.
The company stated that FY27 is a year of building, and FY28 is when this build is expected to reflect in performance.
Source: BSE
