Q2 FY26 results: Strong standalone growth; consolidated in loss on subsidiary ramp-up

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Price reactionminutes from the announcement price · days from the prior close

-5.4%Reaction day

₹215.50

prior close

₹209.50

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%-5.3% vs market

Pharmaceuticals peers, median of 157sector+0.0%-5.4% vs sector

On the reaction day the stock moved 5.3 pts less than Nifty Microcap 250 and 5.4 pts less than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-2.7

10m

-2.7

15m

-2.7

30m

-2.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-5.4-0.1-5.3+0.0-5.4

Next day

-10.1+0.5-10.6-0.1-10.0

-10.6-0.3-10.3-0.9-9.7

-14.5-0.5-14.1-1.3-13.2

-13.3-0.8-12.5-1.6-11.7

-14.4-2.3-12.1-2.3-12.1

-16.9-2.8-14.2-2.9-14.1

15d

-11.8-4.9-7.0-3.1-8.8

-13.7-4.7-8.9-4.3-9.4

-14.9-7.7-7.2-5.6-9.3

-25.5-7.8-17.7-10.3-15.3

UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 157Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Standalone Q2 revenue rose 8.7 percent YoY to Rs 4,458 lakhs; standalone PAT jumped 205 percent to Rs 281 lakhs. H1 standalone PAT up 124 percent to Rs 533 lakhs. However consolidated Q2 PAT swung to a loss of Rs 699 lakhs versus loss of Rs 61 lakhs YoY, hurt by subsidiary Natural Biogenex which began commercial operations in March 2025 with costs outpacing early revenue. Board declined to subscribe to subsidiary Rights Issue citing cash flow commitments for ongoing projects. Auditors issued an unmodified limited review conclusion.

Likely market impact

Standalone earnings look strong, but consolidated losses from new subsidiary raise caution. Cash flow needs may limit further support to the unit.