Alivus Life Sciences Q2 FY27 results: net profit up 51.3% to ₹196.75 crore, revenue up 16.0%

How did Alivus Life Sciences perform in Q2 FY27?

On a standalone basis, Alivus Life Sciences reported Q2 FY27 revenue of ₹681.99 crore, up ₹94.01 crore or 16.0% from Q2 FY26 and ₹41.58 crore or 6.5% from Q1 FY27. Total income was ₹701.90 crore, against ₹602.70 crore a year earlier and ₹662.82 crore in the previous quarter.

EBITDA was ₹265.19 crore, up ₹86.02 crore or 48.0% from Q2 FY26 and ₹53.48 crore or 25.3% from Q1 FY27. The EBITDA margin was 38.9%, up 8.4 percentage points year on year and 5.8 percentage points sequentially. Profit before tax was ₹261.97 crore, while net profit was ₹196.75 crore and basic EPS was ₹16.02.

The company’s investor presentation reported consolidated revenue of ₹6,820 million, EBITDA of ₹2,851 million, PAT of ₹1,968 million and an EBITDA margin of 41.8% for Q2 FY27. The standalone filing showed revenue of ₹681.99 crore, EBITDA of ₹265.19 crore, net profit of ₹196.75 crore and an EBITDA margin of 38.9%.

What changed in Alivus Life Sciences' costs and profit?

Against Q2 FY26, total expenses increased ₹11.37 crore to ₹439.93 crore. Cost of materials rose ₹10.29 crore to ₹299.25 crore, employee cost increased ₹3.21 crore to ₹69.61 crore, depreciation increased ₹3.39 crore to ₹21.82 crore and other expenses rose ₹10.84 crore to ₹104.33 crore. Finance costs fell ₹0.01 crore to ₹1.31 crore.

Other income increased ₹5.20 crore from ₹14.72 crore in Q2 FY26 to ₹19.92 crore, while total income rose ₹99.20 crore or 16.5% to ₹701.90 crore. There was no exceptional item in either quarter. Tax expense rose ₹21.12 crore to ₹65.23 crore, and profit before tax increased ₹87.83 crore to ₹261.97 crore.

From Q1 FY27, total expenses fell ₹10.66 crore to ₹439.93 crore. Cost of materials increased ₹46.10 crore to ₹299.25 crore, employee cost rose ₹1.36 crore to ₹69.61 crore and depreciation increased ₹1.23 crore to ₹21.82 crore. Other expenses fell ₹1.08 crore to ₹104.33 crore, while finance costs were unchanged at ₹1.31 crore.

Other income fell ₹2.48 crore from ₹22.40 crore in Q1 FY27 to ₹19.92 crore. Tax expense increased ₹13.08 crore to ₹65.23 crore. The filing did not state a specific reason for the year-on-year movement in the quarterly profit lines, but reported revenue, total income and operating profit were higher.

How did the first half of FY27 go?

For H1 FY27, standalone revenue was ₹1,322.40 crore, up ₹132.57 crore or 11.1% from ₹1,189.83 crore in H1 FY26. Total income was ₹1,364.72 crore, up ₹151.19 crore or 12.5%, while profit before tax increased ₹137.08 crore or 40.7% to ₹474.20 crore.

H1 FY27 net profit was ₹356.82 crore, up ₹105.26 crore or 41.8% from ₹251.56 crore, and basic EPS rose ₹8.55 or 41.7% to ₹29.06. The filing reported no exceptional item for either half-year period, while the year ended March 2026 included a statutory impact of new labour codes of ₹256.57 crore.

What do the balance sheet and cash flow show?

Total assets increased from ₹3,982.90 crore at March 2026 to ₹4,341.94 crore at September 2026, while total equity rose from ₹3,332.13 crore to ₹3,631.29 crore. Borrowings remained at no borrowings, and cash and cash equivalents increased from ₹1.98 crore to ₹25.43 crore.

Net cash generated from operating activities in H1 FY27 was ₹459.69 crore, compared with ₹260.73 crore in H1 FY26. Investing cash flow was an outflow of ₹370.88 crore, against an outflow of ₹252.37 crore, while financing cash flow was an outflow of ₹65.36 crore, against an outflow of ₹60.48 crore. Capital expenditure was ₹189.53 crore, compared with ₹112.98 crore.

How has Alivus Life Sciences done over the last 8 quarters?

Revenue increased year on year in each of the last eight quarters. It reached its latest-period high of ₹689.12 crore in Q4 FY26, fell to ₹640.41 crore in Q1 FY27 and rose to ₹681.99 crore in Q2 FY27. Within the supplied series, the lowest revenue was ₹587.98 crore in Q2 FY26.

Net profit reached a series high of ₹196.75 crore in Q2 FY27, after ₹160.08 crore in Q1 FY27, while the lowest was ₹121.53 crore in Q1 FY26. The EBITDA margin also reached a series high of 38.9% in Q2 FY27, compared with 30.5% in Q2 FY26 and 33.1% in Q1 FY27.

Profit increased year on year in each of the last eight quarters. The margin’s earlier low in the supplied series was 28.6% in Q1 FY26, before recovering to 30.5% in Q2 FY26 and moving higher through the subsequent quarters.

What else did the company announce?

The board approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026 on 29 October 2026. The filing stated that the meeting began at 5.10 p.m. and concluded at 6.15 p.m., and the results and the limited review report were enclosed and made available on the company’s website.

Alivus Life Sciences also filed an investor presentation for Q2 FY27 on 29 October 2026. The company had earlier notified a board meeting for that date to consider and approve the results and had closed its trading window from 1 October to 31 October 2026. The same-day filings did not announce a dividend, fund raise or appointment.

What did Alivus Life Sciences' management say?

Management said Solapur Phase 1 is expected to become operational in Q3 FY27 and is intended to support APIs and intermediates over a 2–3-year period. It expects CDMO revenue to double in 3–4 years and reach 12%–15% of company revenue; CDMO revenue rose nearly 80% year on year to INR 50 crore, though quarterly volumes remain lumpy.

The company identified risks from new-launch margin normalisation after 18–24 months, crude-driven solvent inflation if crude reaches $200 per barrel, a higher H2 GPL mix, generic price erosion, lumpy CDMO project execution and possible delays in Solapur ramp-up pending inspections. Management said its priorities were growth execution, portfolio scaling and a stronger presence in key global markets.

The Chief Financial Officer said: “We continue to remain a net debt-free company, and we have generated a strong free cash flow of INR270 crores leading to cash and cash equivalents, including short-term investments of INR1,012 crores as of September 30, 2026.” The earnings-call document did not record any analyst questions.

How did Alivus Life Sciences shares react?

The filing appeared after market hours. The stock was up 1.8% after 5 minutes, 1.5% after 15 minutes and 0.3% after 30 minutes. It closed the first trading session on the news 0.9% above its previous close, and by the next day’s close the cumulative gain from that pre-results close was 3.6%.

Earlier results-day moves were mixed: the shares rose 3.3% on 30 July 2026 and 3.0% on 6 November 2025, but fell 2.9% on 14 May 2026, 3.8% on 1 August 2025 and 4.9% on 15 May 2025. The largest move in the listed history was a fall of 9.3% on 24 October 2024.

How did other Pharmaceuticals companies do?

Among 77 Pharmaceuticals companies compared for the quarter, the median revenue growth was 18.9%. Alivus Life Sciences had 32 peers growing slower than the company and 45 peers growing faster than the company, based on the company’s 16.0% revenue growth.

Of the 73 peers for which profit was compared, 49 reported higher profit. The peer figures are based on results filed as of 6 November 2026 and cover other Pharmaceuticals companies, excluding Alivus Life Sciences.