Unaudited financial results for the quarter and half year ended September 30, 2025.
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Pharmaids Pharmaceuticals reported strong revenue growth alongside continued losses. Consolidated revenue from operations jumped to Rs. 860.50 lakhs in Q2 FY26 (up ~64% from Rs. 523.93 lakhs YoY) and Rs. 1,526.86 lakhs for H1 FY26 (up ~53% from Rs. 997 lakhs). Standalone revenue surged to Rs. 596.55 lakhs in Q2 and Rs. 708.08 lakhs for H1 (vs Rs. 83.40 and Rs. 100.05 lakhs a year ago). However, the company posted a consolidated net loss of Rs. (780.61) lakhs for H1 FY26 (vs Rs. (568.76) lakhs loss YoY), with standalone net loss at Rs. (601.53) lakhs. Exceptional gain of Rs. 313.05 lakhs (standalone) from sale of assets and exit from Anugraha Chemicals partnership cushioned the results. The company exited its 66.5% partnership in Anugraha Chemicals for Rs. 1,050 lakhs, repaid borrowings (down to Rs. 1,817 lakhs standalone from Rs. 3,543 lakhs), but operating cash flow stayed negative at Rs. (402.85) lakhs standalone. Auditor issued unmodified review reports on both sets of results.
Mixed signals for shareholders: strong revenue momentum is a positive, but widening losses, ballooning employee and other expenses, and negative operating cash flow remain concerns. The asset sale and partnership exit brought in cash and reduced debt, but profitability remains elusive — stock is likely to react cautiously given the persistent bottom-line weakness.