Biocon Limited held its Q2 FY27 earnings conference call, discussing strong performance across its biosimilars and generics businesses. The company highlighted key market wins, product launches, and leadership transitions. Revenue for the quarter showed growth, with a focus on expanding market access and profitability. Biocon anticipates a stronger second half of FY27, driven by ongoing business momentum and strategic investments.
Biocon Reports Q2 FY27 Performance and Strategic Outlook
Biocon Limited has released its financial results for the second quarter of fiscal year 2027 (Q2 FY27), detailing significant progress across its key business segments. The company hosted an earnings conference call on November 4, 2026, to discuss its performance and future growth strategies. The transcript of this call offers insights into the company’s operational and financial highlights.
Financial and Segmental Highlights
In Q2 FY27, Biocon’s operating revenues saw a 2% year-on-year growth. The biopharmaceutical business contributed with a 5% year-on-year increase, while services revenue improved by 13% quarter-on-quarter. EBITDA for the group stood at INR865 crores, supported by improved Generics profitability and Services revenue. Interest costs declined by 12% year-on-year to INR240 crores. Reported net profit for the quarter before exceptionals was INR44 crores.
Biosimilars Business
The Biosimilars segment, identified as a core growth engine, reported revenue of INR2,809 crores for Q2 FY27, with an EBITDA of INR623 crores. Investments in R&D represented 7% of revenues. For the first half of FY27 (H1FY27), biosimilars revenue grew 9% year-on-year, with an EBITDA margin of 24%. The company noted a one-off revenue recognition deferral of approximately 5% due to logistics issues, which has since been booked in October.
Generics Business
The Generics business demonstrated sustained improvement in profitability, with revenues at INR774 crores for Q2 FY27. EBITDA for the quarter was INR64 crores, a substantial increase from INR7 crores in the previous year’s Q2. The EBITDA margin improved to 8% from 1%. For H1FY27, the Generics business grew 15% year-on-year, with EBITDA at INR120 crores against a loss of INR28 crores in the prior year.
Services Business (Syngene)
Syngene’s performance improved sequentially, with revenue at INR833 crores, a 13% sequential improvement. EBITDA stood at INR175 crores, with an EBITDA margin of 20% (up from 15% in Q1 FY27). For H1FY27, services revenue and EBITDA were INR1,569 crores and INR291 crores, respectively. FY27 is considered a transition year for Syngene, navigating reduced demand from a large biologics client.
Key Developments and Market Outlook
Biocon achieved several milestones, including a global settlement and license agreement with Genentech for its biosimilar Pertuzumab, securing early licensed launch dates in key markets. The company also received FDA approval for the Yesintek single-dose prefilled autoinjector and secured approximately 20 tender awards in Europe.
The company anticipates a stronger second half of FY27 (H2) compared to the first half (H1), driven by improving biosimilars momentum, continued profitability improvements in generics, and a progressive recovery at Syngene. Biocon remains focused on margins, free cash flows, and debt reduction to enhance ROCE.
Leadership Updates
The company announced leadership transitions, including the upcoming retirement of Rhonda Duffy, Chief Operations Officer, in March 2027, and the appointment of George Kaliviotis as her successor. Mukesh Rathi has joined as Chief Technology Officer starting January 2027.
Source: BSE
