Biocon has released its Monitoring Agency Report for Q2 FY26, confirming that funds raised through Qualified Institutions Placement (QIP) were utilized as per the stated objectives. The report, issued by India Ratings & Research, indicates no deviations and provides insights into the allocation of INR 45,000 million. The Audit Committee and Board of Directors have reviewed and approved the findings on November 11, 2025.

QIP Fund Utilization Review

Biocon’s Monitoring Agency Report for the quarter ended September 30, 2025 (Q2 FY26), confirms the appropriate allocation of funds raised through its Qualified Institutions Placement (QIP). India Ratings & Research Private Limited served as the Monitoring Agency, issuing the report on November 11, 2025.

Key Report Findings

The report states that there were no deviations from the stated objectives for which the funds were raised. The total issue size was INR 45,000 million. The funds were primarily allocated to the following:

• Purchase of outstanding optionally convertible debentures issued by Biocon’s Subsidiary: INR 16,980.46 million
• Repayment/prepayment of certain outstanding financial instruments: INR 5,987.68 million
• General Corporate Purposes: INR 169.54 million
• Issue related expenses: INR 684.01 million

Details of Unutilized Issue Proceeds

The total unutilized issue proceeds amounted to INR 21,347.85 million. These funds were primarily invested in mutual funds and kept as bank balance. Significant investments included:

• SBI Savings Fund – Direct – Growth: INR 769.35 million
• Kotak Money Market Fund – Direct – Growth: INR 1,182.40 million
• UTI Money Market Fund – Direct – Growth: INR 1,508.38 million
• HDFC Money Market Fund – Direct – Growth: INR 1,204.26 million
• ICICI Prudential Money Market Fund – Direct – Growth: INR 1,285.96 million
• Axis Money Market Fund – Direct – Growth: INR 1,515.62 million

Revised Timeline for Object Completion

The report also includes revised completion timelines for certain objects, indicating that the repayment and prepayment of certain outstanding financial instruments is now expected to occur ongoing until Fiscal 2027. The originally stated completion date for this objective was June 30, 2025.

Source: BSE

The Board of Directors at Biocon has approved the unaudited financial results for Q2 2026. Key decisions include the early redemption of Non-Convertible Debentures (NCDs) worth ₹500 Crores, acquisition of Compulsorily Convertible Debentures (CCDs) of Biocon Biologics Limited, and issuance of Commercial Papers up to ₹550 Crores. The meeting concluded with these approvals, signaling strategic financial moves for the company.

Financial Results for Q2 2026

Biocon’s Board of Directors has approved the unaudited financial results for the quarter and half-year ended September 30, 2026. The financial results were prepared per Indian Accounting Standards (Ind-AS). The complete report is available for review.

Early Redemption of Non-Convertible Debentures

The board has approved the early full redemption of 50,000 unlisted, secured, rated, redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each, totaling ₹500 Crores. These NCDs were issued on a private placement basis on May 19, 2023, and are subject to necessary approvals and consents by January 31, 2026.

Acquisition of Compulsorily Convertible Debentures

The Board has approved the acquisition of 1,06,86,044 Unlisted, Secured, Compulsorily Convertible Debentures (‘CCDs’) of Biocon Biologics Limited (‘BBL’) from ESOF III Investment Fund and EAAA India Alternatives Limited. The face value is ₹10 each, aggregating to ₹300 Crores, and is expected to be completed on or before January 30, 2026, subject to necessary approvals and consents.

Issuance of Commercial Papers

The Board has approved the issuance of Commercial Papers up to an amount not exceeding ₹550 Crores. These will be issued in one or more tranches on a private placement basis.

Source: BSE

Biocon reported strong Q2FY26 results with operating revenue up 20% to ₹4,296 Cr. EBITDA increased by 29% to ₹928 crore, and PBT (before exceptional items) surged by 153% to ₹183 Cr. The growth was driven by Biosimilars and Generics businesses. The company inaugurated its first OSD manufacturing facility in the United States. For the quarter, Net Profit stood at ₹85 crore, up 428%.

Financial Highlights for Q2FY26

Biocon Limited announced its consolidated financial results for Q2FY26, ended September 30, 2025, showcasing substantial growth.

• Operating Revenue: Increased by 20% to ₹4,296 Crore.
• EBITDA: Rose by 29% to ₹928 Crore.
• EBITDA Margin: Stood at 21%.
• PBT (before exceptional items): Surged by 153% to ₹183 Crore.
• Net R&D Investment: ₹251 Crore, representing 7% of revenue (excluding Syngene).

Segment Performance

The revenue breakdown by segment is as follows:

• Biosimilars: ₹2,721 Crore, up 25% YoY.
• Generics: ₹774 Crore, up 24% YoY.
• CRDMO (Syngene): ₹911 Crore, up 2% YoY.

Key Developments

The company achieved several significant milestones during the quarter:

• Inaugurated Biocon’s first OSD manufacturing facility in the United States.
• Secured its first global phase III clinical trial from a U.S.-based biotech company for Syngene.
• Biocon Biologics launched four biosimilars across key global markets in FY26.

Sustainability and Recognition

• Biocon’s EcoVadis 2025 score moved up to 74 from 66 last year, placing the company in the 91st percentile.
• The Company received 7 awards from the Quality Circle Forum of India (QCFI) for excellence in Production, Quality and EHS.

Financial Performance Commentary

• Core EBITDA for Q2FY26 was reported at ₹1,218 crore, a 23% increase with core operating margins of 28%.
• Net Profit for the quarter stood at ₹85 crore, marking a substantial increase of 428%.

Source: BSE

Biocon’s Board of Directors has approved the unaudited financial results for Q2 2025-26. The board also approved the early redemption of 50,000 Non-Convertible Debentures and the acquisition of 1,06,86,044 Compulsorily Convertible Debentures of Biocon Biologics Limited from ESOF III Investment Fund and EAAA India Alternatives Limited. Additionally, the issuance of Commercial Papers up to ₹550 Crores has been approved.

Financial Results for Q2 2025-26

Biocon Limited has announced its unaudited financial results, prepared per Indian Accounting Standards, for the quarter and half-year ended September 30, 2025 (Q2 2025-26). Key highlights from the standalone results include:

• Revenue from operations: ₹5,833 million for Q2 and ₹11,204 million for H1.
• Total Income: ₹7,171 million for Q2 and ₹13,155 million for H1.
• Net Profit: ₹709 million for Q2 and ₹626 million for H1.

Early Redemption of Debentures

The Board has approved the early full redemption of 50,000 unlisted, secured, rated, redeemable Non-Convertible Debentures (NCDs), with a face value of ₹1,00,000 each. This totals ₹500 Crores. The redemption, subject to necessary approvals, is slated for on or before January 31, 2026.

Acquisition of Convertible Debentures

Approval has been granted for the acquisition of 1,06,86,044 Unlisted, Secured, Compulsorily Convertible Debentures (‘CCDs’) of Biocon Biologics Limited (‘BBL’) from ESOF III Investment Fund and EAAA India Alternatives Limited. The face value of these CCDs is ₹10 each, aggregating to ₹300 Crores. The acquisition is planned for on or before January 30, 2026, pending required approvals.

Issuance of Commercial Papers

The board has also authorized the issuance of Commercial Papers up to ₹550 Crores in one or more tranches via private placement.

Source: BSE

Kirloskar Oil Engines Limited (KOEL) reported a 35% increase in standalone sales for Q2 FY26, reaching ₹1,593 Crore. The Power Generation Business Unit (PGBU) saw a significant 41% year-on-year growth. Consolidated revenue from operations for Q2 FY26 stood at ₹1,948.4 Crore, a 30% increase compared to the previous year. The company’s financial services arm, Arka Financial Holdings (AFHPL), witnessed a revenue of ₹233 Crore, a 20% YoY increase.

Standalone Performance

KOEL’s standalone sales for Q2 FY26 increased by 35% to ₹1,593 Crore compared to ₹1,184 Crore in Q2 FY25. For the first half of the fiscal year (H1 FY26), standalone sales grew by 20% to ₹3,027 Crore.

Key highlights:

• B2B Sales: Increased by 35% in Q2 FY26.
• Power Gen: Increased by 41% in Q2 FY26.
• Industrial: Increased by 40% in Q2 FY26.
• EBITDA Margin: Stood at 13.4% for Q2 FY26.

Standalone profit after tax (PAT) for Q2 FY26 was ₹140.8 Crore, with a margin of 8.8%.

Consolidated Performance

The company’s consolidated revenue from operations for Q2 FY26 was ₹1,948.4 Crore, up 30% from ₹1,498.6 Crore in Q2 FY25. For H1 FY26, the consolidated revenue reached ₹3,712.2 Crore, a 19% increase year-over-year.

• B2B Segment: Saw a 34% increase in revenue.
• Financial Services: Revenue increased by 17% to ₹233.3 Crore.

Consolidated PAT for Q2 FY26 stood at ₹159.2 Crore with a margin of 8.2%.

Financial Services (Arka Financial Holdings)

Arka Financial Holdings (AFHPL) reported total assets under management (AUM) of ₹7,558 Crore as of September 30, 2025. AFHPL’s consolidated revenue from operations stood at ₹233 Crore in Q2 FY26, a 20% year-over-year increase. The consolidated PAT for AFHPL stood at ₹25.5 Crore.

KOEL’s total investment in AFHPL as of September 30, 2025, stood at ₹1,053 Crore.

B2B Segment Highlights

The Power Generation Business Unit (PGBU) achieved a remarkable 41% year-on-year growth. Exports (standalone) for H1 FY26 were up by 24% year-on-year.

B2C Segment

The B2C segment reported top-line growth of 23% year-on-year. Strategic restructuring involved transferring the business to a wholly-owned subsidiary, La-Gajjar Machineries Pvt. Ltd.

Source: BSE

Rail Vikas Nigam Limited (RVNL) has appointed M/s. Ravi Rajan & Co. LLP, Chartered Accountants, as its Internal Auditor. The appointment, approved by the Board of Directors on November 11, 2025, is effective for the period up to March 31, 2026. This decision aims to bolster the company’s internal controls and ensure financial compliance.

Internal Auditor Appointment

Rail Vikas Nigam Limited (RVNL) has officially announced the appointment of M/s. Ravi Rajan & Co. LLP as its Internal Auditor. This decision was made during the Board of Directors meeting held on November 11, 2025.

Appointment Details

The appointed firm, M/s. Ravi Rajan & Co. LLP, will serve as the Internal Auditor for RVNL until March 31, 2026. The firm is a multi-faceted accountancy firm incorporated in 1989 with 15 partners and a team of 225 people. The firm also provides services in different fields through Lawyers, Company Secretaries & Engineers, various experts like Ex-Senior Bankers etc. Insolvency Professionals and Registered Valuers. The board meeting commenced at 16:30 Hrs and concluded at 19:05 Hrs.

Source: BSE

Biocon’s board has approved the unaudited financial results for Q2 2026, ending September 30, 2025. The board also approved the early redemption of ₹500 crore in Non-Convertible Debentures and the acquisition of Compulsorily Convertible Debentures (CCDs) in Biocon Biologics Limited (BBL) from Edelweiss for ₹300 crore. The company also plans to issue commercial papers up to ₹550 crore.

Financial Highlights for Q2 2026

Biocon’s Board of Directors has reviewed and approved the unaudited standalone financial results for the quarter ending September 30, 2025. Key figures from the statement include:

• Revenue from operations: ₹5,833 million
• Total Income: ₹7,171 million
• Profit before tax: ₹857 million
• Net Profit: ₹709 million

The earnings per share is ₹0.55 (basic and diluted).

CCD Acquisition from Edelweiss

The board has approved the acquisition of 1,06,86,044 unlisted, secured, Compulsorily Convertible Debentures (CCDs) of Biocon Biologics Limited (BBL) from ESOF III Investment Fund and EAAA India Alternatives Limited (Edelweiss) with a face value of ₹10 each. The acquisition is valued at ₹300 crore and is expected to be completed on or before January 30, 2026, subject to necessary approvals. This acquisition will increase the company’s holding in BBL by approximately 65 basis points.

Early Redemption of Non-Convertible Debentures

The board has authorized the early full redemption of 50,000 unlisted, secured, rated, redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each, totaling ₹500 crore. These NCDs were issued on a private placement basis on May 19, 2023, and the redemption is subject to receipt of necessary approvals or consents on or before January 31, 2026.

Issuance of Commercial Papers

The board has also approved the issuance of Commercial Papers up to an amount not exceeding ₹550 crore in one or more tranches on a private placement basis.

Source: BSE

PTC India announced its Q2 and H1 FY 2025-26 results, demonstrating solid financial performance. Standalone Profit After Tax (PAT) for Q2-FY26 grew by 15% to INR 133.82 Crores. Trading volume increased by 9%, reaching 26,178 MU. The company anticipates further growth, driven by market-oriented initiatives and increasing demand for its services. Consolidated Profit Before Tax increased by 36%.

Standalone Financial Highlights

PTC India reported an 11% increase in trading margin, reaching INR 96.40 Crores for Q2-FY26. The standalone Profit After Tax (PAT) reached INR 133.82 Crores in Q2-FY26, a 15% increase year-over-year. The company’s trading volume increased by 9% to 26,178 MU, compared to 24,039 MU in Q2-FY25. Consulting income for Q2-FY26 stood at Rs 12.08 Crores, with a core trading margin of 3.68 paisa per unit.

Consolidated Financial Performance

The Consolidated Profit Before Tax (PBT) from continuing operations in Q2-FY26 reached INR 298.06 Crores, a 36% increase from INR 218.90 Crores in Q2-FY25. Consolidated Profit After Tax (PAT) from continuing operations in Q2-FY26 was INR 222.05 Crores, a 36% increase compared to INR 162.78 Crores in Q2-FY25. Consolidated Total Comprehensive Income in Q2-FY26 was INR 221.58 Crores.

Management Outlook

Dr. Manoj Kumar Jhawar, Chairman & Managing Director of PTC India Ltd., noted that a balanced mix of trading volumes across different tenures drove a 9% increase in trading volume for Q2-FY26. Short-term trades comprised 53% of the volume, with the remainder from medium- and long-term contracts. The company expects sustained power demand growth, correlated with GDP, and anticipates increased demand driven by new initiatives. They also expect to grow their client base.

Source: BSE

Biocon’s Board of Directors has approved the unaudited standalone and consolidated financial results for Q2 FY26. The board also greenlit the early full redemption of 50,000 non-convertible debentures and the acquisition of 1,06,86,044 compulsorily convertible debentures of Biocon Biologics Limited. These decisions signify a strategic financial maneuver and continued investment in its subsidiary’s growth prospects. The decisions were made during a board meeting held on November 11, 2025.

Financial Results Approved

Biocon’s Board has officially approved the unaudited financial results, both standalone and consolidated, for the quarter and half-year ended September 30, 2025 (Q2 FY26). These results were prepared in accordance with Indian Accounting Standards (Ind-AS), offering insights into the company’s performance during the specified period.

Early Redemption of Debentures

The Board has authorized the early full redemption of 50,000 unlisted, secured, rated, redeemable Non-Convertible Debentures (NCDs). Each debenture has a face value of ₹1,00,000, totaling ₹500 Crores. These NCDs were originally issued on a private placement basis on May 19, 2023. The redemption is subject to necessary approvals and consents by January 31, 2026.

Acquisition of Convertible Debentures

Biocon will also acquire 1,06,86,044 Unlisted, Secured, Compulsorily Convertible Debentures (CCDs) of Biocon Biologics Limited (BBL), a material subsidiary. These CCDs are being acquired from ESOF III Investment Fund and EAAA India Alternatives Limited, collectively known as “Edelweiss,” and have a face value of ₹10 each. The total acquisition value is ₹300 Crores, expected to be completed by January 30, 2026, subject to approvals.

Commercial Paper Issuance

The Board has approved the issuance of Commercial Papers up to ₹550 Crores through private placement in one or more tranches.

Source: BSE