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Mercury Laboratories Q2 FY27 results: net profit down 59.1% to ₹0.67 crore, revenue flat
Mercury Laboratories Ltd reported standalone revenue of ₹19.01 crore and a net profit of ₹0.67 crore for Q2 FY27. Revenue was unchanged from Q2 FY26, while profit after tax fell 59.1% and EBITDA margin declined to 7.6% from 11.2%.
Key points
- Q2 FY27 revenue was ₹19.01 crore, unchanged from Q2 FY26 but up 19.1% from Q1 FY27.
- EBITDA was ₹1.44 crore in Q2 FY27, down 32.4% from ₹2.13 crore a year earlier, while margin fell 3.6 percentage points to 7.6%.
- Net profit was ₹0.67 crore, down 59.1% from ₹1.64 crore in Q2 FY26 and up 123.3% from ₹0.30 crore in Q1 FY27.
- Basic EPS was ₹5.61, down 59.0% from ₹13.69 a year earlier and up 126.2% from ₹2.48 in the previous quarter.
- For H1 FY27, revenue was ₹34.97 crore and net profit was ₹0.97 crore, down 62.8% from H1 FY26.
How did Mercury Laboratories perform in Q2 FY27?
Mercury Laboratories reported standalone revenue of ₹19.01 crore in Q2 FY27, unchanged from Q2 FY26 but up 19.1% from Q1 FY27. Total income was ₹19.39 crore, down 2.1% year on year and up 21.0% sequentially. The board approved the unaudited quarterly and half-year results on 5 November 2026.
EBITDA was ₹1.44 crore, down 32.4% from ₹2.13 crore in Q2 FY26, while the EBITDA margin fell 3.6 percentage points to 7.6%. Profit before tax declined to ₹0.92 crore from ₹1.92 crore, and tax was ₹0.24 crore against ₹0.28 crore.
Net profit after tax was ₹0.67 crore, down 59.1% from ₹1.64 crore a year earlier but up 123.3% from ₹0.30 crore in Q1 FY27. Basic EPS was ₹5.61, compared with ₹13.69 in Q2 FY26 and ₹2.48 in the previous quarter. These are standalone figures; no consolidated figures were given.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 19.01 | 15.96 | 19.01 | +0.0% | +19.1% |
| Other income | 0.38 | 0.05 | 0.79 | −51.9% | +660.0% |
| Total expenses | 18.47 | 15.62 | 17.88 | +3.3% | +18.2% |
| EBITDA | 1.44 | 1.19 | 2.13 | −32.4% | +21.0% |
| EBITDA margin | 7.6% | 7.5% | 11.2% | −3.6 pp | +0.1 pp |
| Profit before tax | 0.92 | 0.39 | 1.92 | −52.1% | +135.9% |
| Tax | 0.24 | 0.09 | 0.28 | −14.3% | +166.7% |
| Net profit | 0.67 | 0.30 | 1.64 | −59.1% | +123.3% |
| EPS (₹) | 5.61 | 2.48 | 13.69 | −59.0% | +126.2% |
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 Mercury Laboratories' costs and profit?
Total expenses rose to ₹18.47 crore in Q2 FY27 from ₹17.88 crore in Q2 FY26, an increase of ₹0.59 crore or 3.3%. Cost of materials increased by ₹0.48 crore to ₹6.70 crore, employee cost by ₹0.37 crore to ₹4.82 crore, finance costs by ₹0.03 crore to ₹0.16 crore and other expenses by ₹0.45 crore to ₹5.50 crore.
Depreciation declined by ₹0.12 crore to ₹0.74 crore from ₹0.86 crore in the year-ago quarter. Other income fell by ₹0.41 crore to ₹0.38 crore from ₹0.79 crore, while total income fell by ₹0.41 crore to ₹19.39 crore. There was no exceptional item in either quarter.
Tax expense declined by ₹0.04 crore to ₹0.24 crore from ₹0.28 crore. The filing does not state the reason for the movement in operating costs or other income, so the reported figures show that lower other income and higher expenses reduced EBITDA, profit before tax and net profit.
Against Q1 FY27, total expenses increased by ₹2.85 crore to ₹18.47 crore. Other expenses rose by ₹1.06 crore to ₹5.50 crore, cost of materials by ₹0.91 crore to ₹6.70 crore and employee cost by ₹0.58 crore to ₹4.82 crore. Other income increased by ₹0.33 crore to ₹0.38 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 6.70 | 6.22 | +0.48 | +7.7% |
| Employee cost | 4.82 | 4.45 | +0.37 | +8.3% |
| Finance costs | 0.16 | 0.13 | +0.03 | +23.1% |
| Depreciation | 0.74 | 0.86 | −0.12 | −14.0% |
| Other expenses | 5.50 | 5.05 | +0.45 | +8.9% |
| Total expenses | 18.47 | 17.88 | +0.59 | +3.3% |
| Other income | 0.38 | 0.79 | −0.41 | −51.9% |
| Tax | 0.24 | 0.28 | −0.04 | −14.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Mercury Laboratories reported standalone revenue of ₹34.97 crore, down from ₹37.14 crore in H1 FY26. Total income fell to ₹35.4 crore from ₹38.12 crore, while profit before tax declined to ₹1.31 crore from ₹3.47 crore.
Net profit after tax was ₹0.97 crore in H1 FY27, down 62.8% from ₹2.61 crore in H1 FY26. Basic EPS fell to 8.09 from 21.76. The first-half revenue decline was 5.8%, and total income declined 7.1%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 34.97 | 37.14 | −5.8% |
| Profit before tax | 1.31 | 3.47 | −62.2% |
| Net profit | 0.97 | 2.61 | −62.8% |
| EPS (₹) | 8.09 | 21.76 | −62.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹80.96 crore, up from ₹79.08 crore at 31 March 2026. Total equity increased to ₹58.63 crore from ₹58.08 crore, while borrowings fell to ₹7.22 crore from ₹7.41 crore and cash declined to ₹0.57 crore from ₹0.80 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 80.96 | 79.08 |
| Total equity | 58.63 | 58.08 |
| Borrowings | 7.22 | 7.41 |
| Cash and equivalents | 0.57 | 0.80 |
| Inventories | 8.07 | 7.12 |
| Trade receivables | 26.25 | 25.85 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.89 | 1.32 |
| Cash from investing | −0.65 | −0.64 |
| Cash from financing | −3.49 | −0.04 |
| Capital expenditure | 0.65 | 0.64 |
Source: Company's results filing (XBRL).
How has Mercury Laboratories done over the last 8 quarters?
Revenue rose from ₹15.96 crore in Q1 FY27 to ₹19.01 crore in Q2 FY27, but it remained below the ₹20.66 crore recorded in Q4 FY25, the highest point in the listed trend. The lowest quarterly revenue was ₹15.96 crore in Q1 FY27.
Net profit reached a peak of ₹1.64 crore in Q2 FY26 and fell to ₹0.30 crore in Q1 FY27 before rising to ₹0.67 crore in Q2 FY27. EBITDA margin peaked at 13.7% in Q3 FY26, fell to 7.5% in Q1 FY27 and edged up to 7.6% in Q2 FY27.
How did other Pharmaceuticals companies do?
Among 77 Pharmaceuticals companies compared for the quarter, the median revenue growth was 18.9%. Of the companies with revenue growth below Mercury Laboratories’ rate, 15 grew more slowly, while 62 grew faster.
Profit was higher at 50 of the 73 Pharmaceuticals companies for which profit was compared. Mercury Laboratories’ Q2 FY27 revenue was unchanged from Q2 FY26, and its net profit of ₹0.67 crore was down 59.1% from the year-ago quarter.
| Mercury Laboratories revenue growth (YoY) | +0.0% |
|---|---|
| Median of 77 other Pharmaceuticals companies | +18.9% |
| Companies with slower revenue growth than Mercury Laboratories | 15 of 77 |
| Companies with faster revenue growth than Mercury Laboratories | 62 of 77 |
| Companies whose net profit rose | 50 of 73 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Mercury Laboratories' revenue in Q2 FY27?
Revenue from operations was ₹19.01 crore, down 0.0% from ₹19.01 crore in Q2 FY26 (standalone).
Did Mercury Laboratories make a profit in Q2 FY27?
Yes. Net profit was ₹0.67 crore, against a net profit of ₹1.64 crore in Q2 FY26.
What was Mercury Laboratories' EPS in Q2 FY27?
Basic earnings per share were ₹5.61, against ₹13.69 in Q2 FY26.
When did Mercury Laboratories announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of The Unaudited Financial Results For The Quarter And Half Year Ended On September 30, 2026. (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Out Come Of Board Meeting Held On 05.11.2026 (BSE, 5 November 2026) · PDF
- Financial Results For The Quarter And Half Year Ended On 30.09.2026 (BSE, 5 November 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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