Syngene International reported a 13% sequential revenue growth for the second quarter of FY27, driven by positive traction in its CDMO business. The company’s Operating EBITDA margin improved by 6 percentage points, reaching 18%. PAT stood at ₹32 crore, a significant improvement from a loss in the previous quarter. Key highlights include the signing of the first manufacturing agreement for its US-based Bayview biologics facility.
Syngene Reports Strong Q2 FY27 Financial Performance
Syngene International Limited announced its financial results for the second quarter and half-year ended September 30, 2026, showcasing a robust sequential revenue increase of 13%. This growth was primarily supported by positive developments within the company’s Contract Development and Manufacturing Organization (CDMO) business.
Improved Profitability and Margins
The company achieved an improved Operating EBITDA margin, which rose by 6 percentage points. For the second quarter of FY27, the Operating EBITDA margin stood at 18%. Profit After Tax (PAT) for the quarter was ₹32 crore, marking a significant turnaround from a loss of ₹9 crore reported in the preceding quarter. On a year-on-year basis, revenue saw a decline of 9%, with the Operating EBITDA margin at 18%, which is in line with expectations, partly due to lower Zoetis revenues and forex hedge losses.
Key Business and Operational Highlights
A significant strategic development during the quarter was the signing of Syngene’s first manufacturing agreement for the Bayview biologics facility in the U.S. This marks a crucial step in enhancing the company’s global manufacturing capabilities for large molecules. The agreement involves process development activities in India and drug substance manufacturing at Bayview, scheduled to commence in the next financial year.
Other key business highlights include strengthening its Integrated Drug Discovery (IDD) offering, securing additional manufacturing contracts for its biologics facility in Bengaluru, and successfully completing a complex oligonucleotide manufacturing program. Furthermore, Syngene commissioned a new Clinical Translational Sciences (CTS) Laboratory in Bengaluru, enhancing its integrated drug discovery and development ecosystem.
Leadership and Future Outlook
The company also announced the transition of its Chief Financial Officer, Deepak Jain, who will be moving on from Syngene. Syngene will host its Q2 FY27 results conference call on October 28, 2026, to discuss performance and answer investor queries.
Source: BSE
