Press release - unaudited financial results of 9MFY26
FERMENTA · price
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Fermenta Biotech reported consolidated 9MFY26 revenue of INR 421.2 crore, up 25% year-on-year, with EBITDA of INR 97.2 crore (up 20%) and profit after tax of INR 51.7 crore (up 20%); diluted EPS stood at INR 18.47. Excluding real estate, core revenue rose 41% to INR 413.6 crore and EBITDA jumped 86% to INR 95.1 crore, driven mainly by Vitamin D3 human nutrition (up 51%) and animal nutrition (up 46%), with volumes in those segments growing 46% and 52% respectively. Q3FY26 headline numbers softened — revenue fell 11% YoY to INR 140.5 crore, EBITDA dropped 49% to INR 28.1 crore, and PAT declined 68% to INR 12 crore — largely because real estate contributions normalised after a one-off in the year-ago quarter. The Board approved a INR 110 crore capex at Dahej for plant-based Vitamin D3, green chemistry enzymes, and Vitamin D3 derivatives, and the Environment Division was transferred to a wholly owned subsidiary for INR 19 crore effective October 1, 2025.
The strong 9-month core business growth and the INR 110 crore expansion plan signal management's confidence in scaling Vitamin D3 and enzyme capacity, which is positive for long-term shareholders. However, the sharp sequential and YoY decline in Q3 profit is a near-term concern, as it may pressure the stock until investors see sustained pickup in Q4 and clarity on the real estate wind-down.