Supriya Lifesci. Q1 FY27 Results (NSE: SUPRIYA)
Signal: Margin pressure
The read
The trajectory is a volume/product-led revenue acceleration to ₹189.75 crore, up 30.8% YoY, but with a sharp profitability inflection: consolidated EBITDA fell 8.2% and margin contracted 1060bps to 25.0%, driving PAT down 30.9% to ₹24.04 crore; the new cardiovascular, ADHD and liquid anaesthetic products provide growth optionality, but margin recovery is not yet demonstrated.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹189.75 Cr | 30.8% | N/A |
| EBIT | ₹41.17 Cr | -14.1% | |
| Net profit | ₹24.04 Cr | -30.9% | |
| EPS | ₹2.99 | -30.8% | |
| EBIT margin | 25.0% |
P&L walk
Revenue increased 30.8% YoY to ₹189.75 crore, but EBITDA declined 8.2% to ₹47.46 crore as EBITDA margin fell 1060bps to 25.0%; PAT consequently declined 30.9% to ₹24.04 crore and EPS fell 30.8% to ₹2.99.
Key positives
- Revenue reached ₹189.75 crore, up 30.8% YoY, supported by export contribution of 81% and diversified exposure across Asia at 39%, Europe at 35% and LATAM at 20%.
- Vitamins increased its revenue contribution to 17% from 11% YoY, while the cardiovascular product launched in Q3 FY26 and the liquid anaesthetic product are progressing toward scale-up.
- ADHD demand is scaling in LATAM and Europe, and the company plans approximately two Anesthetic and two ADHD launches in FY27.
- Ambernath has commissioned finished-dosage manufacturing capabilities across tablets, capsules, liquids, nasal, inhalation and injection formats, with validation and registration batches underway.
Key concerns
- Consolidated EBITDA fell 8.2% YoY to ₹47.46 crore even as revenue grew 30.8%, causing EBITDA margin to compress 1060bps from 35.6% to 25.0%.
- PAT declined 30.9% YoY to ₹24.04 crore and PAT margin fell to 12.7% from 24.0%, showing that top-line growth is not currently translating into earnings growth.
- Capacity utilisation was 70%, below the 74% reported for FY26, leaving the near-term return on the 932 KLPD reactor base dependent on utilisation and product ramp-up.
Research and educational content only. Not investment advice.