Pursuant to Regulation 30 and Part A of schedule III of SEBI(LODR),2015 ,we enclosed herewith a copy of Transcript of conference call held on Wednesday,4th June 2025.
NATCAPSUQ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Natural Capsules filed the transcript of its Q4 & FY25 earnings call. FY25 revenue grew 8.87% YoY to Rs. 169.21 crore, but PAT fell sharply 88.88% to Rs. 0.62 crore, and EBITDA margin contracted 246 bps to 10.35%. Management guided FY26 consolidated revenue of ~Rs. 260 crore, driven by HPMC capsules scaling from Rs. 9 crore to Rs. 27 crore, API revenue of ~Rs. 65 crore with Rs. 9 crore in PLI benefits, and US business jumping from Rs. 5 crore to Rs. 20–22 crore after the US imposed an 88% duty on Chinese HPMC capsules vs 14% on Indian ones. Capsule business margins are expected to improve from ~10.5% to 14–14.5% on better customer mix, softer gelatin prices, and higher HPMC share. API segment faces pricing pressure from Chinese overcapacity, and the company is pursuing a minimum import price under the PLI scheme.
Positive near-term trigger from US anti-dumping duty on Chinese HPMC capsules and management's margin expansion guidance, but weak FY25 PAT decline and API segment pricing headwinds may keep sentiment cautious.