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Morepen Laboratories Q1 FY27 results: net profit ₹56.40 crore vs ₹10.75 crore, revenue up 34.1%
Morepen Laboratories Limited reported consolidated Q1 FY27 revenue of ₹570.13 crore and net profit of ₹56.40 crore, with EBITDA of ₹82.53 crore and an EBITDA margin of 14.5%. Revenue rose 34.1% year on year, while net profit increased 424.7% and basic EPS was ₹1.03. On a standalone basis, revenue was ₹541.04 crore and profit before tax was ₹8.06 crore.
Key points
- Consolidated revenue was ₹570.13 crore, up 34.1% from ₹425.24 crore in Q1 FY26 and 17.6% from ₹484.72 crore in Q4 FY26.
- EBITDA was ₹82.53 crore at a 14.5% margin, compared with ₹24.17 crore and 5.7% in Q1 FY26.
- Net profit was ₹56.40 crore, against ₹10.75 crore in Q1 FY26 and ₹15.74 crore in Q4 FY26.
- Basic EPS was ₹1.03, compared with ₹0.20 in Q1 FY26 and ₹0.28 in Q4 FY26.
- The company’s board set 19 September 2026 as the record date for the FY26 final dividend, subject to shareholder approval.
How did Morepen Laboratories perform in Q1 FY27?
Morepen Laboratories reported consolidated revenue of ₹570.13 crore for Q1 FY27, up 34.1% from ₹425.24 crore in Q1 FY26 and 17.6% from ₹484.72 crore in Q4 FY26. EBITDA rose to ₹82.53 crore from ₹24.17 crore a year earlier and ₹24.45 crore in the previous quarter. The EBITDA margin increased to 14.5% from 5.7% and 5.0%, respectively.
Net profit was ₹56.40 crore, compared with ₹10.75 crore in Q1 FY26 and ₹15.74 crore in Q4 FY26. Basic EPS was ₹1.03, against ₹0.20 and ₹0.28 in the two comparative quarters. On a standalone basis, Q1 FY27 revenue was ₹541.04 crore and profit before tax was ₹8.06 crore.
| ₹ crore | Q1 FY27 | Q4 FY26 | Q1 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 570.13 | 484.72 | 425.24 | +34.1% | +17.6% |
| Other income | 5.18 | 8.46 | 4.41 | +17.5% | −38.8% |
| Total expenses | 500.78 | 469.89 | 414.13 | +20.9% | +6.6% |
| EBITDA | 82.53 | 24.45 | 24.17 | +241.5% | +237.5% |
| EBITDA margin | 14.5% | 5.0% | 5.7% | +8.8 pp | +9.5 pp |
| Profit before tax | 74.53 | 23.29 | 15.52 | +380.2% | +220.0% |
| Tax | 18.18 | 7.59 | 4.11 | +342.3% | +139.5% |
| Net profit | 56.40 | 15.74 | 10.75 | +424.7% | +258.3% |
| EPS (₹) | 1.03 | 0.28 | 0.20 | +415.0% | +267.9% |
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 Morepen Laboratories' costs and profit?
Total expenses increased to ₹500.78 crore in Q1 FY27, up 20.9% from ₹414.13 crore in Q1 FY26. Cost of materials rose by ₹90.67 crore to ₹328.38 crore, employee cost increased by ₹7.20 crore to ₹62.44 crore, finance costs increased by ₹0.80 crore to ₹4.84 crore and other expenses rose by ₹22.98 crore to ₹106.45 crore. Depreciation fell by ₹0.68 crore to ₹8.35 crore, and other income increased by ₹0.77 crore to ₹5.18 crore. There was no exceptional item.
Profit before tax increased to ₹74.53 crore from ₹15.52 crore a year earlier, a rise of ₹59.01 crore. Tax expense rose by ₹14.07 crore to ₹18.18 crore, while net profit increased by ₹45.65 crore to ₹56.40 crore. The filing does not provide a further breakdown explaining the movement beyond the reported income and expense lines.
| ₹ crore | Q1 FY27 | Q1 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 328.38 | 237.71 | +90.67 | +38.1% |
| Employee cost | 62.44 | 55.24 | +7.20 | +13.0% |
| Finance costs | 4.84 | 4.04 | +0.80 | +19.8% |
| Depreciation | 8.35 | 9.03 | −0.68 | −7.5% |
| Other expenses | 106.45 | 83.47 | +22.98 | +27.5% |
| Total expenses | 500.78 | 414.13 | +86.65 | +20.9% |
| Other income | 5.18 | 4.41 | +0.77 | +17.5% |
| Tax | 18.18 | 4.11 | +14.07 | +342.3% |
Source: Company's results filing (XBRL).
How has Morepen Laboratories done over the last 8 quarters?
Revenue reached its highest level in the eight-quarter series at ₹570.13 crore in Q1 FY27, after falling to ₹411.58 crore in Q2 FY26 and rising in each of the last three quarters. Net profit also peaked at ₹56.40 crore, compared with a low of ₹15.74 crore in Q4 FY26. EBITDA margin recovered to 14.5% from 5.0% in the previous quarter and its earlier low of 5.7% in Q1 FY26.
What else did the company announce?
The board approved the un-audited standalone and consolidated results for the quarter ended 30 June 2026. It set 19 September 2026 as the record date for the FY26 final dividend, subject to approval by members at the 41st Annual General Meeting scheduled for 26 September 2026.
Subject to shareholder approval, the board also proposed extending the timeline for transferring the Medical Devices Business to Morepen Medipath Limited on a slump-sale basis and re-appointing Sushil Suri as Chairman and Managing Director for three years from 20 October 2026 to 19 October 2029. CARE Ratings reported that ₹9.10 crore of the QIP proceeds remained unutilised, while capital-expenditure implementation had been delayed and the schedule extended twice.
What did Morepen Laboratories' management say?
Management described Q1 FY27 as commercial validation of the Morepen 2.0 shift from commodity APIs to innovation-led CDMO manufacturing. It said the ₹825 Cr CDMO mandate had entered full-scale commercialisation, with ₹58 Cr of commercial dispatches completed during the quarter. The company also reported 31% API growth, 42% API export growth, 19% Medical Devices growth and 111% export revenue growth in its investor materials.
Management said its near-term priorities were commercial CDMO supplies, API profitability recovery and capacity utilisation. Its capacity roadmap advances from 535 KL in Q4 FY26 to 600 KL in Q2 FY27, 800 KL in Q2 FY28, 1000 KL in FY29 and 1200 KL in FY30. The presentation identified CDMO concentration, sequential capacity execution and continued clean USFDA inspections as risks to the growth plan.
How did Morepen Laboratories shares react?
Morepen Laboratories was up 1.5% at 5, 15 and 30 minutes after the filing appeared in the market. The stock closed 20.5% higher on the reaction day from its pre-results close of ₹57.40, and by the next day’s close it was up 33.6% from that close; the five-day move was 33.8%. The Pharmaceuticals industry median was unchanged on the reaction day and up 0.8% over five days, leaving Morepen ahead by 20.6 percentage points and 33.0 percentage points, respectively.
Earlier results-day reactions were mixed. Morepen fell 4.6% on 26 May 2026, rose 1.7% on 10 February 2026, fell 2.0% on 14 November 2025 and 5.1% on 6 August 2025. The stock also rose 7.0% on 21 May 2024 and 4.1% on 1 August 2024.
| After the filing | Stock | Pharmaceuticals median |
|---|---|---|
| 5 minutes | +1.5% | |
| 15 minutes | +1.5% | |
| 30 minutes | +1.5% | |
| Reaction day | +20.5% | −0.0% |
| Next day | +33.6% | +0.0% |
| 5 days | +33.8% | +0.8% |
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 |
|---|---|
| 26 May 2026 | −4.6% |
| 10 February 2026 | +1.7% |
| 14 November 2025 | −2.0% |
| 6 August 2025 | −5.1% |
| 6 February 2025 | −5.4% |
| 11 November 2024 | −2.9% |
| 1 August 2024 | +4.1% |
| 21 May 2024 | +7.0% |
Source: MarketPing price-reaction measurement.
How did other Pharmaceuticals companies do?
Among 137 Pharmaceuticals companies compared for the quarter, the median revenue growth was 16.6%. Morepen’s revenue growth was slower than that of 32 peers and faster than that of 105 peers. Of 144 peers assessed for profit, 98 reported higher profit.
| Morepen Laboratories revenue growth (YoY) | +34.1% |
|---|---|
| Median of 137 other Pharmaceuticals companies | +16.6% |
| Companies with slower revenue growth than Morepen Laboratories | 105 of 137 |
| Companies with faster revenue growth than Morepen Laboratories | 32 of 137 |
| Companies whose net profit rose | 98 of 144 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Morepen Laboratories' revenue in Q1 FY27?
Revenue from operations was ₹570.13 crore, up 34.1% from ₹425.24 crore in Q1 FY26 (consolidated).
Did Morepen Laboratories make a profit in Q1 FY27?
Yes. Net profit was ₹56.40 crore, against a net profit of ₹10.75 crore in Q1 FY26.
What was Morepen Laboratories' EPS in Q1 FY27?
Basic earnings per share were ₹1.03, against ₹0.20 in Q1 FY26.
How did Morepen Laboratories shares react to the Q1 FY27 results?
On the reaction day the stock moved +20.5% from the previous close; the median Pharmaceuticals stock moved −0.0%.
When did Morepen Laboratories announce its Q1 FY27 results?
On 4 August 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Q-1 FY27 Results (BSE, 28 July 2026) · PDF
- Q1 FY 27 Financial Results (BSE, 4 August 2026) · PDF
- Board Meeting Outcome for For Q1 FY 27 Financial Results (BSE, 4 August 2026) · PDF
- Announcement under Regulation 30 (LODR)-Press Release / Media Release (BSE, 4 August 2026) · PDF
- Reg. 34 (1) Annual Report. (BSE, 2 September 2026) · PDF
- The investor presentation (4 August 2026)
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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