Anthem Biosciences Q2 FY27 results: net profit up 21.9% to ₹211.46 crore, revenue up 8.0%

How did Anthem Biosciences perform in Q2 FY27?

Anthem Biosciences reported consolidated revenue of ₹594.03 crore in Q2 FY27, up ₹44 crore or 8.0% from ₹550.03 crore in Q2 FY26. EBITDA was ₹271.50 crore, up ₹53.59 crore or 24.6%, and its margin rose 6.1 percentage points to 45.7%. Total income increased ₹54.67 crore or 9.1% to ₹652.93 crore.

Profit before tax was ₹296.37 crore, up ₹66.77 crore or 29.1% from Q2 FY26, while the net profit was ₹211.46 crore, up ₹38.03 crore or 21.9%. Basic EPS was ₹3.75, compared with ₹3.09. On a standalone basis, revenue was ₹572.11 crore and profit after tax was ₹220.89 crore, against standalone profit before tax of ₹198.43 crore.

Sequentially, revenue rose ₹175.81 crore or 42.0% from ₹418.22 crore in Q1 FY27, and EBITDA rose ₹120.93 crore or 80.3% from ₹150.57 crore. The EBITDA margin increased 9.7 percentage points to 45.7%. Profit before tax rose ₹151.79 crore or 105.0% to ₹296.37 crore, while net profit rose ₹91.52 crore or 76.3% to ₹211.46 crore and EPS rose ₹1.62 to ₹3.75.

What changed in Anthem Biosciences' costs and profit?

Total expenses fell ₹12.09 crore or 3.3% from Q2 FY26 to ₹356.56 crore. Cost of materials declined ₹0.49 crore or 0.2% to ₹200.77 crore, and depreciation fell ₹2.79 crore or 8.3% to ₹30.71 crore. Employee benefits expense rose ₹13.53 crore or 20.0% to ₹81.25 crore, while other expenses increased ₹15.55 crore or 37.9% to ₹56.60 crore.

Other income increased ₹10.67 crore or 22.1% from Q2 FY26 to ₹58.90 crore, while finance costs rose ₹0.28 crore or 9.2% to ₹3.31 crore. There was no exceptional item in either Q2 FY27 or Q2 FY26. Tax expense was ₹84.91 crore, up ₹28.74 crore or 51.2% from ₹56.17 crore, against profit before tax that rose ₹66.77 crore or 29.1%.

How did the first half of FY27 go?

In the first half of FY27, consolidated revenue was ₹1,012.25 crore, down ₹77.99 crore or 7.2% from ₹1,090.24 crore in H1 FY26. Total income declined ₹65.27 crore or 5.6% to ₹1,096.01 crore, reflecting the lower operating revenue despite higher other income.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹3,686.38 crore, compared with ₹3,429.29 crore at 31 March 2026, and total equity was ₹3,280.99 crore against ₹3,042.52 crore. Borrowings fell to ₹38.66 crore from ₹51.07 crore, while cash declined to ₹19.98 crore from ₹272.91 crore.

H1 FY27 operating cash flow was ₹318.17 crore, compared with ₹402.52 crore in H1 FY26. Investing cash flow was negative ₹207.21 crore against negative ₹168.64 crore, financing cash flow was negative ₹108.45 crore against positive ₹21.34 crore, and capital expenditure was ₹110.37 crore compared with ₹94.26 crore.

How has Anthem Biosciences done over the last 6 quarters?

Revenue reached its highest level in the six-quarter series at ₹594.03 crore in Q2 FY27, after falling to ₹418.22 crore in Q1 FY27 from ₹610.94 crore in Q4 FY26. The latest quarter therefore extended the rebound from the preceding quarter.

Net profit also peaked at ₹211.46 crore in Q2 FY27, compared with its low of ₹92.82 crore in Q3 FY26. The EBITDA margin rose to 45.7% in the latest quarter, above 36.0% in Q1 FY27 and its earlier low of 35.4% in Q1 FY26.

The trend shows revenue and profit moving higher from Q1 FY27 to Q2 FY27, while the margin increased as well. The latest revenue, net profit and EBITDA margin were the highest in the six quarters presented.

Which businesses drove the quarter?

CRDMO revenue was ₹509.27 crore in Q2 FY27, up 9.3% from ₹465.81 crore in Q2 FY26. Segment EBIT was ₹366.26 crore, compared with ₹285.45 crore, and the segment EBIT margin was 71.9%.

Speciality Ingredients revenue was ₹84.76 crore, up 0.7% from ₹84.21 crore in the year-ago quarter. Segment EBIT was ₹43.09 crore against ₹41.22 crore, with an EBIT margin of 50.8%. CRDMO remained the larger segment, while management said growth in the quarter was led by the CRDMO revenue stream.

What else did the company announce?

The board approved the unaudited standalone and consolidated financial results, together with the statutory auditors’ limited review report, for the quarter and half year ended 30 September 2026. The audit committee reviewed and recommended the results to the board on 3 November 2026.

The company also filed its earnings call presentation on 3 November 2026. The same-day board intimation did not announce a dividend, fund raise or appointment, and the trading window remained closed until the close of trading hours on 5 November 2026.

What did Anthem Biosciences' management say?

Management said Q2 FY27 growth was driven by CRDMO and that underlying demand remained strong. In the investor presentation, Chairman, MD and CEO Ajay Bhardwaj said the company was confident of sustaining growth and creating long-term value for stakeholders.

Management said cost efficiencies, yield optimisation and workforce productivity helped expand EBITDA and profit after tax margins year on year. The company said it was well-positioned to sustain this performance throughout the year and identified commercial molecules, commercial and late-stage molecules, and R&D services as revenue contributors.

How did Anthem Biosciences shares react?

After the filing appeared after market hours, the stock was down 0.9% after 5 minutes, down 2.4% after 15 minutes and down 1.6% after 30 minutes. On the reaction day, it closed 3.8% above the previous close of ₹857.00, against a 1.9% median rise for other biotechnology stocks, a 1.9 percentage-point excess move.

Earlier results-day reactions were mixed: the stock fell 1.8% on 21 July 2026, fell 0.1% on 19 May 2026, rose 4.3% on 5 February 2026, rose 1.0% on 8 November 2025 and rose 8.5% on 13 August 2025. No next-day or five-day cumulative reaction figures were provided.