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Sudeep Pharma Q2 FY27 results: net profit up 10.8% to ₹51.81 crore, revenue up 20.9%
Sudeep Pharma Limited reported consolidated revenue of ₹196.70 crore in Q2 FY27, up 20.9% from Q2 FY26 and 24.3% from Q1 FY27. EBITDA rose to ₹73.24 crore and margin widened to 37.2%, while profit for the period was ₹51.81 crore and basic EPS was ₹4.59.
Key points
- Consolidated Q2 FY27 revenue was ₹196.70 crore, up 20.9% year on year and 24.3% sequentially.
- EBITDA was ₹73.24 crore, up 32.1% from Q2 FY26 and 33.4% from Q1 FY27.
- EBITDA margin increased to 37.2% from 34.1% in Q2 FY26 and 34.7% in Q1 FY27.
- Profit for the period was ₹51.81 crore, up 10.8% year on year and 27.6% sequentially; basic EPS was ₹4.59.
- H1 FY27 revenue was ₹354.97 crore and profit was ₹92.4 crore, up 23.4% and 18.4% respectively from H1 FY26.
How did Sudeep Pharma perform in Q2 FY27?
Consolidated revenue for Q2 FY27 was ₹196.70 crore, compared with ₹162.67 crore in Q2 FY26 and ₹158.27 crore in Q1 FY27. Total income was ₹202.68 crore, against ₹172.83 crore a year earlier and ₹163.72 crore in the previous quarter. Revenue rose 20.9% year on year and 24.3% sequentially.
EBITDA was ₹73.24 crore, up from ₹55.46 crore in Q2 FY26 and ₹54.91 crore in Q1 FY27. EBITDA margin was 37.2%, compared with 34.1% in Q2 FY26 and 34.7% in Q1 FY27, an increase of 3.1 percentage points and 2.5 percentage points, respectively.
Profit before tax was ₹71.03 crore, up from ₹59.53 crore in Q2 FY26 and ₹54.29 crore in Q1 FY27. Profit for the period was ₹51.81 crore, against ₹46.78 crore and ₹40.59 crore, while basic EPS was ₹4.59, compared with ₹4.20 and ₹3.59.
On a standalone basis, Q2 FY27 revenue was ₹137.41 crore and profit was ₹42.34 crore, up 56.4% from ₹29.74 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 196.70 | 158.27 | 162.67 | +20.9% | +24.3% |
| Other income | 5.98 | 5.45 | 10.17 | −41.2% | +9.7% |
| Total expenses | 131.65 | 109.42 | 113.30 | +16.2% | +20.3% |
| EBITDA | 73.24 | 54.91 | 55.46 | +32.1% | +33.4% |
| EBITDA margin | 37.2% | 34.7% | 34.1% | +3.1 pp | +2.5 pp |
| Profit before tax | 71.03 | 54.29 | 59.53 | +19.3% | +30.8% |
| Tax | 19.22 | 13.71 | 12.76 | +50.6% | +40.2% |
| Net profit | 51.81 | 40.59 | 46.78 | +10.8% | +27.6% |
| EPS (₹) | 4.59 | 3.59 | 4.20 | +9.3% | +27.9% |
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 Sudeep Pharma's costs and profit?
Total expenses were ₹131.65 crore in Q2 FY27, up ₹18.35 crore from ₹113.30 crore in Q2 FY26. Cost of materials was ₹71.37 crore, up ₹0.89 crore, employee cost was ₹15.61 crore, up ₹1.51 crore, finance costs were ₹2.81 crore, up ₹0.53 crore, and depreciation was ₹5.38 crore, up ₹1.57 crore.
Other expenses increased by ₹6.17 crore to ₹38.34 crore from ₹32.17 crore in the year-ago quarter. Other income fell by ₹4.19 crore to ₹5.98 crore from ₹10.17 crore, while there was no exceptional item in either quarter.
Tax expense rose by ₹6.46 crore to ₹19.22 crore from ₹12.76 crore. Profit before tax increased by ₹11.50 crore to ₹71.03 crore, while profit for the period rose by ₹5.03 crore to ₹51.81 crore. Management said selling and distribution expenditure was approximately eight crores above the normal quarterly average, largely because of freight.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 71.37 | 70.48 | +0.89 | +1.3% |
| Employee cost | 15.61 | 14.10 | +1.51 | +10.7% |
| Finance costs | 2.81 | 2.28 | +0.53 | +23.2% |
| Depreciation | 5.38 | 3.81 | +1.57 | +41.2% |
| Other expenses | 38.34 | 32.17 | +6.17 | +19.2% |
| Total expenses | 131.65 | 113.30 | +18.35 | +16.2% |
| Other income | 5.98 | 10.17 | −4.19 | −41.2% |
| Tax | 19.22 | 12.76 | +6.46 | +50.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹354.97 crore, up ₹67.39 crore or 23.4% from ₹287.58 crore in H1 FY26. Total income rose 21.0% to ₹366.4 crore from ₹302.91 crore, while profit before tax increased 21.0% to ₹125.33 crore from ₹103.61 crore.
Profit for the first half was ₹92.4 crore, up ₹14.35 crore or 18.4% from ₹78.05 crore in H1 FY26. Basic EPS rose to ₹8.18 from ₹7.05, an increase of ₹1.13 or 16.0%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 354.97 | 287.58 | +23.4% |
| Profit before tax | 125.33 | 103.61 | +21.0% |
| Net profit | 92.40 | 78.05 | +18.4% |
| EPS (₹) | 8.18 | 7.05 | +16.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1328.63 crore, compared with ₹1174.88 crore at 31 March 2026. Total equity rose to ₹972.83 crore from ₹898.09 crore, borrowings increased to ₹187.67 crore from ₹148.29 crore, and cash stood at ₹53.79 crore compared with ₹26.74 crore.
Inventories were ₹274.95 crore against ₹216.05 crore at 31 March 2026. Trade receivables were ₹246.09 crore, compared with ₹227.54 crore, and trade payables were ₹97.63 crore against ₹68.43 crore.
H1 FY27 operating cash flow was ₹43.5 crore, compared with ₹17.73 crore in H1 FY26. Investing cash flow was negative ₹32.86 crore against negative ₹163.55 crore, financing cash flow was ₹16.12 crore against ₹160.84 crore, and capital expenditure was negative ₹0.19 crore against ₹28.71 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,329 | 1,175 |
| Total equity | 972.83 | 898.09 |
| Borrowings | 187.67 | 148.29 |
| Cash and equivalents | 53.79 | 26.74 |
| Inventories | 274.95 | 216.05 |
| Trade receivables | 246.09 | 227.54 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 43.50 | 17.73 |
| Cash from investing | −32.86 | −163.55 |
| Cash from financing | 16.12 | 160.84 |
| Capital expenditure | −0.19 | 28.71 |
Source: Company's results filing (XBRL).
How has Sudeep Pharma done over the last 5 quarters?
Revenue in the five-quarter series fell from ₹182.34 crore in Q4 FY26 to ₹158.27 crore in Q1 FY27 before rising to ₹196.70 crore in Q2 FY27. The Q2 FY27 level was the highest in the period shown, while Q1 FY27 was the lowest.
Profit for the period followed a similar path, moving from ₹48.54 crore in Q4 FY26 to ₹40.59 crore in Q1 FY27 and then rising to ₹51.81 crore in Q2 FY27, the highest level in the series. Q1 FY27 was the lowest.
EBITDA margin rose from 34.3% in Q4 FY26 to 34.7% in Q1 FY27 and 37.2% in Q2 FY27. The Q2 FY27 margin was the highest of the five quarters, while the 34.1% recorded in Q2 FY26 was the lowest.
Which businesses drove the quarter?
Pharmaceutical, food and nutrition generated revenue of ₹142.5 crore in Q2 FY27 and EBIT of ₹55.12 crore, with an EBIT margin of 38.7%. No year-ago revenue, EBIT or growth figure was provided for this segment in the filing data.
Speciality ingredients reported revenue of ₹54.2 crore, down 24.9% from ₹72.17 crore in Q2 FY26. Its EBIT was ₹12.74 crore, compared with ₹23.98 crore in the year-ago quarter, and the reported EBIT margin was 23.5%.
Inter-segment revenue was ₹3.15 crore, up 46.7% from ₹2.15 crore in Q2 FY26. EBIT was ₹0.0 crore, with an EBIT margin of 0.0%. The company’s presentation showed pharmaceutical, food and nutrition at 72% of Q2 revenue and speciality ingredients at 28%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Pharmaceutical, food and nutrition | 142.50 | 55.12 | 38.7% | |
| Speciality ingredients | 54.20 | −24.9% | 12.74 | 23.5% |
| Inter-segment revenues | 3.15 | +46.7% | 0 | 0.0% |
Source: Company's results filing (XBRL segment data).
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 on 28 October 2026. The same-day investor presentation reported Q2 FY27 revenue of ₹196.7 crore and EBITDA up 32%.
The company filed the Q2 FY27 investor presentation on 28 October 2026 and uploaded the audio recording of the earnings call held on 29 October 2026. The available same-day filings did not announce a dividend, fund raise or appointment.
What did Sudeep Pharma's management say?
Management expects commercial Nandesari supplies to begin in H2 FY27, with most contribution in Q4 FY27 as customer qualifications convert into orders. It targets approximately 30% NSS EBITDA margin in FY28 and expects NSS revenue to remain broadly flat in FY27 before growing in FY28.
Management said battery-grade iron phosphate commissioning remains targeted for April 2027, with details of firm, binding offtake contracts due in Q4 FY27. It referenced FY28 Nandesari utilisation of 15%-20% in one response and 10%-15% in another, followed by about 75% over three to four years.
How did Sudeep Pharma shares react?
| After the filing | Stock | Specialty Chemicals median |
|---|---|---|
| 5 minutes | +1.0% | |
| 15 minutes | +1.4% | |
| 30 minutes | −0.6% | |
| Reaction day | +0.9% | +0.4% |
| Next day | −4.2% | −1.7% |
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 |
|---|---|
| 4 August 2026 | +9.8% |
| 21 May 2026 | +1.5% |
| 6 February 2026 | +2.7% |
| 19 December 2025 | −2.9% |
Source: MarketPing price-reaction measurement.
How did other Specialty Chemicals companies do?
Fifty Specialty Chemicals companies that had filed for the quarter were compared with Sudeep Pharma as of 4 November 2026. Their median revenue growth was 28.3%, compared with 20.9% revenue growth for Sudeep Pharma in Q2 FY27.
Of the other companies, 13 grew more slowly than Sudeep Pharma and 36 grew faster. Among the 46 peers for which profit was compared, 40 reported higher profit.
| Sudeep Pharma revenue growth (YoY) | +20.9% |
|---|---|
| Median of 50 other Specialty Chemicals companies | +28.3% |
| Companies with slower revenue growth than Sudeep Pharma | 13 of 50 |
| Companies with faster revenue growth than Sudeep Pharma | 36 of 50 |
| Companies whose net profit rose | 40 of 46 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Sudeep Pharma's revenue in Q2 FY27?
Revenue from operations was ₹196.70 crore, up 20.9% from ₹162.67 crore in Q2 FY26 (consolidated).
Did Sudeep Pharma make a profit in Q2 FY27?
Yes. Net profit was ₹51.81 crore, against a net profit of ₹46.78 crore in Q2 FY26.
What was Sudeep Pharma's EPS in Q2 FY27?
Basic earnings per share were ₹4.59, against ₹4.20 in Q2 FY26.
How did Sudeep Pharma shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.9% from the previous close; the median Specialty Chemicals stock moved +0.4%.
When did Sudeep Pharma announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Adoption And Approval Of Un-Audited Financial Results (Standalone & Consolidated) For The Quarter And Half Year Ended 30Th September 2026 (BSE, 21 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 28Th October 2026 (BSE, 28 October 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended 30Th September 2026 (BSE, 28 October 2026) · PDF
- The earnings call (29 October 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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