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Bliss GVS Pharma Q2 FY27 results: net profit up 86.6% to ₹53.34 crore, revenue up 28.2%
Bliss GVS Pharma Limited reported consolidated Q2 FY27 revenue of ₹313.37 crore and net profit of ₹53.34 crore for the July–September 2026 quarter. Revenue rose 28.2% from Q2 FY26, while EBITDA increased 153.7% and the EBITDA margin expanded to 25.7%.
Key points
- Consolidated Q2 FY27 revenue was ₹313.37 crore, up 28.2% from Q2 FY26 and 9.7% from Q1 FY27.
- EBITDA was ₹80.58 crore in Q2 FY27, up 153.7% year on year, with the margin rising 12.7 percentage points to 25.7%.
- Net profit was ₹53.34 crore, up 86.6% from Q2 FY26 and 3.8% from Q1 FY27; basic EPS was ₹4.92.
- In H1 FY27, revenue was ₹598.94 crore, up 32.5%, while net profit was ₹104.71 crore, up 43.5%.
- The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026.
How did Bliss GVS Pharma perform in Q2 FY27?
Bliss GVS Pharma reported consolidated revenue of ₹313.37 crore in Q2 FY27, up ₹68.97 crore or 28.2% from ₹244.40 crore in Q2 FY26. Total income was ₹321.67 crore, compared with ₹264.58 crore a year earlier. The quarter was the July–September 2026 period.
EBITDA rose to ₹80.58 crore from ₹31.76 crore in Q2 FY26, while the EBITDA margin increased 12.7 percentage points to 25.7%. Against Q1 FY27, revenue was higher by ₹27.79 crore, EBITDA rose ₹4.18 crore and the margin declined 1.1 percentage points to 25.7%.
Profit before tax was ₹75.10 crore in Q2 FY27, up ₹34.47 crore from Q2 FY26 but down ₹0.38 crore from Q1 FY27. Net profit was ₹53.34 crore, compared with ₹28.59 crore a year earlier and ₹51.37 crore in the previous quarter; basic EPS was ₹4.92, against ₹2.58 and ₹4.73, respectively. On a standalone basis, revenue was ₹261.13 crore and profit was ₹73.57 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 313.37 | 285.58 | 244.40 | +28.2% | +9.7% |
| Other income | 8.30 | 9.60 | 20.18 | −58.9% | −13.5% |
| Total expenses | 246.57 | 219.69 | 223.94 | +10.1% | +12.2% |
| EBITDA | 80.58 | 76.40 | 31.76 | +153.7% | +5.5% |
| EBITDA margin | 25.7% | 26.8% | 13.0% | +12.7 pp | −1.1 pp |
| Profit before tax | 75.10 | 75.48 | 40.63 | +84.8% | −0.5% |
| Tax | 21.76 | 24.11 | 12.04 | +80.7% | −9.7% |
| Net profit | 53.34 | 51.37 | 28.59 | +86.6% | +3.8% |
| EPS (₹) | 4.92 | 4.73 | 2.58 | +90.7% | +4.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Bliss GVS Pharma's costs and profit?
Total expenses were ₹246.57 crore in Q2 FY27, up ₹22.63 crore or 10.1% from Q2 FY26. Cost of materials increased ₹40.45 crore to ₹135.82 crore, employee cost rose ₹11.64 crore to ₹44.99 crore, and other expenses were higher by ₹7.09 crore at ₹68.33 crore.
Finance costs increased ₹0.26 crore to ₹3.30 crore from Q2 FY26, while depreciation was ₹10.50 crore, up ₹2.24 crore. Other income declined ₹11.88 crore to ₹8.30 crore. There was no exceptional item, and tax expense increased ₹9.72 crore to ₹21.76 crore.
Compared with Q1 FY27, total expenses were up ₹26.88 crore, including a ₹41.18 crore increase in cost of materials and a ₹16.65 crore increase in other expenses. Other income fell ₹1.30 crore and tax fell ₹2.35 crore, while there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 135.82 | 95.37 | +40.45 | +42.4% |
| Employee cost | 44.99 | 33.35 | +11.64 | +34.9% |
| Finance costs | 3.30 | 3.04 | +0.26 | +8.6% |
| Depreciation | 10.50 | 8.26 | +2.24 | +27.1% |
| Other expenses | 68.33 | 61.24 | +7.09 | +11.6% |
| Total expenses | 246.57 | 223.94 | +22.63 | +10.1% |
| Other income | 8.30 | 20.18 | −11.88 | −58.9% |
| Tax | 21.76 | 12.04 | +9.72 | +80.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹598.94 crore, up ₹147.07 crore or 32.5% from ₹451.87 crore in H1 FY26. Total income rose 20.7% to ₹616.85 crore from ₹511.03 crore.
Profit before tax increased 45.2% to ₹150.58 crore from ₹103.74 crore, while net profit rose 43.5% to ₹104.71 crore from ₹72.95 crore. Basic EPS increased 44.9% to ₹9.65 from ₹6.66.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 598.94 | 451.87 | +32.5% |
| Profit before tax | 150.58 | 103.74 | +45.2% |
| Net profit | 104.71 | 72.95 | +43.5% |
| EPS (₹) | 9.65 | 6.66 | +44.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹1582.31 crore, compared with ₹1492.41 crore at 31 March 2026, while total equity was ₹1331.39 crore against ₹1231.76 crore. Borrowings were nil, compared with ₹2.93 crore, and cash and cash equivalents were ₹36.81 crore against ₹35.14 crore.
Inventories increased to ₹188.30 crore from ₹150.73 crore, trade receivables rose to ₹566.93 crore from ₹517.19 crore, and trade payables were ₹122.26 crore against ₹104.21 crore. For H1 FY27, operating cash flow was ₹35.69 crore, compared with ₹77.55 crore in H1 FY26; investing cash flow was negative ₹15.01 crore and financing cash flow was negative ₹18.80 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,582 | 1,492 |
| Total equity | 1,331 | 1,232 |
| Borrowings | 0 | 2.93 |
| Cash and equivalents | 36.81 | 35.14 |
| Inventories | 188.30 | 150.73 |
| Trade receivables | 566.93 | 517.19 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 35.69 | 77.55 |
| Cash from investing | −15.01 | −27.22 |
| Cash from financing | −18.80 | −44.81 |
| Capital expenditure | 31.70 | 29.25 |
Source: Company's results filing (XBRL).
How has Bliss GVS Pharma done over the last 8 quarters?
Revenue and profit have moved upward in recent quarters. Revenue rose from ₹207.47 crore in Q1 FY26 to ₹313.37 crore in Q2 FY27, while net profit increased from ₹44.36 crore in Q1 FY26 to ₹53.34 crore in Q2 FY27. The EBITDA margin reached its recent high of 26.8% in Q1 FY27 before easing to 25.7%.
Across the full period, revenue bottomed at ₹197.99 crore in Q4 FY25 and peaked at ₹313.37 crore in Q2 FY27. Net profit bottomed at ₹16.65 crore in Q4 FY25 and reached ₹53.34 crore in Q2 FY27. Revenue rose year on year in each of the last 6 quarters, while profit rose year on year in each of the last 3 quarters.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with the auditors’ limited review report, on 29 October 2026. The same-day filing also recorded a grant of 2,95,000 employee stock options under the Bliss GVS Pharma Limited–Employee Stock Options Plan 2019.
The options were granted to eligible employees at an exercise price of ₹43 per option, based on the BSE closing market price on 28 October 2026 after a 93.42% discount. They vest in four equal instalments, with vested options exercisable within 6 months of vesting.
How did Bliss GVS Pharma shares react?
After the filing appeared after market hours, the stock was down 2.0% after 5 minutes and down 1.5% after 15 minutes, before rising 0.8% after 30 minutes. On the reaction day, it fell 4.3% from its pre-results close of ₹680.9; by the next day's close, it was down 9.4% from that close.
Earlier results-day reactions were mixed: the stock rose 19.3% on 29 July 2025 and 8.4% on 24 July 2024, but fell 15.7% on 6 November 2025. Its most recent reaction was a rise of 1.5% on 12 May 2026.
| After the filing | Stock | Pharmaceuticals median |
|---|---|---|
| 5 minutes | −2.0% | |
| 15 minutes | −1.5% | |
| 30 minutes | +0.8% | |
| Reaction day | −4.3% | −0.8% |
| Next day | −9.4% | −0.7% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 12 May 2026 | +1.5% |
| 10 February 2026 | +1.0% |
| 6 November 2025 | −15.7% |
| 29 July 2025 | +19.3% |
| 12 May 2025 | −0.8% |
| 28 January 2025 | −1.5% |
| 24 July 2024 | +8.4% |
| 2 May 2024 | −7.2% |
Source: MarketPing price-reaction measurement.
How did other Pharmaceuticals companies do?
A total of 60 Pharmaceuticals companies filed for the quarter. Their median revenue growth was 18.9%, while Bliss GVS Pharma's revenue growth was 28.2%. Among the other companies, 40 grew slower than Bliss GVS Pharma and 20 grew faster.
Of the 54 peers for which profit was compared, 38 reported higher profit. The peer comparison was as of 4 November 2026.
| Bliss GVS Pharma revenue growth (YoY) | +28.2% |
|---|---|
| Median of 60 other Pharmaceuticals companies | +18.9% |
| Companies with slower revenue growth than Bliss GVS Pharma | 40 of 60 |
| Companies with faster revenue growth than Bliss GVS Pharma | 20 of 60 |
| Companies whose net profit rose | 38 of 54 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Bliss GVS Pharma's revenue in Q2 FY27?
Revenue from operations was ₹313.37 crore, up 28.2% from ₹244.40 crore in Q2 FY26 (consolidated).
Did Bliss GVS Pharma make a profit in Q2 FY27?
Yes. Net profit was ₹53.34 crore, against a net profit of ₹28.59 crore in Q2 FY26.
What was Bliss GVS Pharma's EPS in Q2 FY27?
Basic earnings per share were ₹4.92, against ₹2.58 in Q2 FY26.
How did Bliss GVS Pharma shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.3% from the previous close; the median Pharmaceuticals stock moved −0.8%.
When did Bliss GVS Pharma announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for To Consider And Approve, Inter Alia, The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026. (BSE, 22 October 2026) · PDF
- Unaudited Standalone & Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 29 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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