Amrutanjan Health Care Q2 FY27 results: net profit up 23.8% to ₹17.28 crore, revenue up 14.9%

How did Amrutanjan Health Care perform in Q2 FY27?

Amrutanjan Health Care reported standalone revenue of ₹135.18 crore in Q2 FY27, up 14.9% from ₹117.70 crore in Q2 FY26 and up 31.3% from ₹102.97 crore in Q1 FY27. EBITDA was ₹23.61 crore against ₹16.53 crore a year earlier and ₹6.24 crore in the previous quarter. The EBITDA margin was 17.5%, up 3.5 percentage points year on year and 11.4 percentage points from Q1 FY27.

Profit before tax was ₹23.10 crore, up 20.2% from ₹19.21 crore a year earlier and up 280.6% from ₹6.07 crore in Q1 FY27. After tax of ₹5.82 crore, net profit was ₹17.28 crore, against ₹13.96 crore a year earlier and ₹4.37 crore in the previous quarter. Basic EPS was ₹5.98, compared with ₹4.83 a year earlier and ₹1.51 in Q1 FY27. The net profit margin was 12.8%, up 0.9 percentage points from a year earlier. The figures reported are standalone, on the basis stated in the filing.

What changed in Amrutanjan Health Care's costs and profit?

Total expenses were ₹115.10 crore in Q2 FY27, up 12.0% from ₹102.78 crore in Q2 FY26 and 16.6% from ₹98.69 crore in Q1 FY27. Cost of materials was ₹46.72 crore, up 86.0% from ₹25.12 crore a year earlier and 81.4% from ₹25.76 crore in the previous quarter. Employee cost was ₹18 crore, up 12.9% from ₹15.95 crore a year earlier and 2.2% from ₹17.62 crore in the previous quarter.

Depreciation was ₹3.49 crore, up 123.7% from ₹1.56 crore a year earlier and 81.8% from ₹1.92 crore in Q1 FY27, while other expenses were ₹32.84 crore, up 19.1% from ₹27.57 crore a year earlier and 32.3% from ₹24.82 crore in the previous quarter. Finance cost was ₹0.04 crore, down 20.0% from ₹0.05 crore a year earlier and unchanged from the previous quarter. Other income was ₹3.02 crore, down 29.8% from ₹4.30 crore a year earlier and 20.7% from ₹3.81 crore in the previous quarter.

There was no exceptional item in Q2 FY27 or in Q2 FY26, while Q1 FY27 carried an exceptional charge of ₹2.03 crore. Tax was ₹5.82 crore, up 10.9% from ₹5.25 crore a year earlier and 242.4% from ₹1.70 crore in the previous quarter. The filings give the cost movements but do not state reasons for them.

How did the first half of FY27 go?

For H1 FY27, standalone revenue was ₹238.15 crore, up 12.5% from ₹211.75 crore in H1 FY26, while total income was ₹244.98 crore against ₹220.47 crore, up 11.1%. Profit before tax was ₹29.17 crore, down 4.4% from ₹30.51 crore, and net profit was ₹21.65 crore, down 2.8% from ₹22.27 crore. Basic EPS was ₹7.49 against ₹7.70.

Management's investor presentation showed H1 profit before exceptional item and tax of ₹31.19 crore against ₹30.51 crore in H1 FY26, with net sales of ₹238.15 crore against ₹211.75 crore. The company's reported H1 figures show revenue growth alongside lower profit after tax.

What do the balance sheet and cash flow show?

Total assets were ₹515.09 crore as at 30 September 2026 against ₹508.89 crore as at 31 March 2026, and total equity was ₹383.94 crore against ₹370.23 crore. There were no borrowings at either date. Cash and cash equivalents were ₹7.96 crore against ₹11.27 crore, while inventories rose to ₹58.09 crore from ₹37.35 crore and trade receivables fell to ₹44.42 crore from ₹60.64 crore. Trade payables were ₹63.39 crore against ₹70.89 crore.

For H1 FY27, operating cash flow was a net outflow of ₹2.14 crore against an inflow of ₹10.91 crore in H1 FY26. Investing cash flow was an inflow of ₹7.43 crore against an outflow of ₹8.22 crore, and financing cash flow was an outflow of ₹8.60 crore against an outflow of ₹7.69 crore. Capital expenditure was ₹36.48 crore against ₹18.73 crore a year earlier.

How has Amrutanjan Health Care done over the last 8 quarters?

Revenue over the last eight quarters peaked at ₹149.77 crore in Q4 FY26 and bottomed at ₹94.05 crore in Q1 FY26. It rose to ₹135.18 crore in Q2 FY27, below the peak but above the ₹117.70 crore recorded a year earlier. Revenue has risen year on year in each of the last eight quarters.

Net profit peaked at ₹19.45 crore in Q3 FY26 and bottomed at ₹4.37 crore in Q1 FY27, before recovering to ₹17.28 crore in Q2 FY27. The EBITDA margin followed a similar pattern, bottoming at 6.1% in Q1 FY27 and reaching 17.5% in Q2 FY27, close to the 19.0% recorded in Q3 FY25. The quarter-on-quarter comparison also reflects an exceptional charge of ₹2.03 crore in Q1 FY27.

Which businesses drove the quarter?

OTC Products reported revenue of ₹90.94 crore in Q2 FY27 against ₹80.02 crore in Q2 FY26, with EBIT of ₹23.29 crore against ₹18.41 crore and an EBIT margin of 25.6%. Women's Hygiene & Personal Care reported revenue of ₹40.48 crore and EBIT of ₹0.46 crore, with an EBIT margin of 1.1%.

Beverages reported revenue of ₹3.03 crore, down 29.4% from ₹4.29 crore, and an EBIT loss of ₹2.41 crore against an EBIT loss of ₹0.65 crore, with an EBIT margin of -79.7%. Others reported revenue of ₹0.73 crore, up 19.5% from ₹0.61 crore, and EBIT of ₹0.14 crore against an EBIT loss of ₹0.15 crore, with an EBIT margin of 19.3%.

What else did the company announce?

The board met on 3 November 2026 and approved the unaudited financial results for the quarter and half year ended 30 September 2026, along with the limited review report of the statutory auditors, M/s B S R & Co. LLP. The results had been recommended by the Audit Committee.

The board declared a first interim dividend of Re 1 per share for FY27 on the equity shares of the company. A separate filing fixed 7 November 2026 as the record date for payment of the dividend to members whose names appear in the register of members and as beneficial owners per NSDL and CDSL records. The same-day filings covered the results, the dividend and the record date.

What did Amrutanjan Health Care's management say?

Management guided revenue growth of 12-15% for FY27, saying, "We are guiding revenue growth in the 12-15% range for the year." It said, "Gross Margin at enterprise level is projected to drop by 200 basis points for the year" and added, "Our goal is to sustain the operating profit margin of 12% which was achieved last year."

Management said the new fixed asset for producing Comfy sanitary napkins became fully operational in Q2, and that SAP implementation for the new Comfy plant was completed, with the Distributor Management System and SAP Payroll implementation in progress. It said reach and availability were being expanded into West and North as well as grocers and quick commerce, and that the company was focusing on new towns and villages and placing relevant SKUs across channel types.

Management noted that most raw-material and packing-material prices were higher than in H1 FY26, menthol crystal prices were higher, plastic prices reached 1.5x last year's levels and pulp prices for sanitary pads rose 20%. It attributed the inflation to the war on Iran. Management also said the Rubs and Balms category continued to show negative growth at the consumer level because of a high base, and that Q2 Congestion Management sales declined 3.7% while Rehydration sales declined 21.4% YoY.

How did Amrutanjan Health Care shares react?

By the next day's close, the stock was up 4.3% from its pre-results close, against a median industry move of 1.6% and an excess move over the sector of 2.7 percentage points. Earlier results-day moves were mixed: the stock fell 9.2% on 11 August 2026, rose 10.0% on 3 February 2026, and moved between -2.2% and 3.7% in the other listed reaction days.

How did other Pharmaceuticals companies do?

Among 71 Pharmaceuticals companies that have filed for this quarter, the median revenue growth was 20.6%, above Amrutanjan Health Care's 14.9%. Of the peers compared, 27 grew slower than the company and 44 grew faster. Of the 66 peers for which profit was compared, 48 reported higher profit.