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Venus Remedies Q2 FY27 results: net profit up 27.4% to ₹25.65 crore, revenue up 13.5%
Venus Remedies Limited reported consolidated revenue of ₹218.76 crore and net profit of ₹25.65 crore in Q2 FY27. Revenue rose 13.5% and profit rose 27.4% from Q2 FY26, while EBITDA increased to ₹42.50 crore and the margin widened to 19.4%.
Key points
- Consolidated revenue was ₹218.76 crore, up ₹26.01 crore or 13.5% from Q2 FY26.
- EBITDA was ₹42.50 crore, up ₹11.54 crore or 37.3% from Q2 FY26, with margin at 19.4%.
- Net profit was ₹25.65 crore, up ₹5.52 crore or 27.4% from Q2 FY26; basic EPS was ₹19.19.
- Against Q1 FY27, revenue rose ₹39.90 crore or 22.3% and net profit rose ₹2.68 crore or 11.7%.
- In H1 FY27, revenue was ₹397.62 crore and net profit was ₹48.62 crore, up 20.5% and 63.5% respectively.
How did Venus Remedies perform in Q2 FY27?
Consolidated revenue for Q2 FY27 was ₹218.76 crore, up ₹26.01 crore or 13.5% from ₹192.75 crore in Q2 FY26 and ₹39.90 crore or 22.3% from ₹178.86 crore in Q1 FY27. EBITDA was ₹42.50 crore, up ₹11.54 crore or 37.3% year on year and ₹8.31 crore or 24.3% sequentially. The EBITDA margin was 19.4%, compared with 16.1% in Q2 FY26 and 19.1% in Q1 FY27.
Profit before tax was ₹33.47 crore, up ₹6.98 crore or 26.3% from Q2 FY26 and ₹3.43 crore or 11.4% from Q1 FY27. Net profit was ₹25.65 crore, compared with ₹20.13 crore a year ago and ₹22.97 crore in the previous quarter. Basic EPS was ₹19.19, up from ₹15.06 in Q2 FY26 and ₹17.18 in Q1 FY27.
On the standalone basis, revenue was ₹218.76 crore, while profit before tax was ₹19.24 crore and profit after tax was ₹28.96 crore for Q2 FY27. Standalone revenue grew 13.6% from the year-ago quarter. The board approved the unaudited standalone and consolidated results for the period ended 30 September 2026 on 26 October 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 218.76 | 178.86 | 192.75 | +13.5% | +22.3% |
| Other income | 0.51 | 2.62 | 1.71 | −70.2% | −80.5% |
| Total expenses | 185.80 | 151.44 | 167.97 | +10.6% | +22.7% |
| EBITDA | 42.50 | 34.19 | 30.96 | +37.3% | +24.3% |
| EBITDA margin | 19.4% | 19.1% | 16.1% | +3.3 pp | +0.3 pp |
| Profit before tax | 33.47 | 30.04 | 26.49 | +26.3% | +11.4% |
| Tax | 7.82 | 7.07 | 6.36 | +23.0% | +10.6% |
| Net profit | 25.65 | 22.97 | 20.13 | +27.4% | +11.7% |
| EPS (₹) | 19.19 | 17.18 | 15.06 | +27.4% | +11.7% |
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 Venus Remedies' costs and profit?
Total expenses were ₹185.80 crore in Q2 FY27, up ₹17.83 crore or 10.6% from Q2 FY26 and ₹34.36 crore or 22.7% from Q1 FY27. Cost of materials fell ₹9.12 crore or 8.6% year on year to ₹97.39 crore, while employee cost rose ₹3.56 crore or 15.5% to ₹26.53 crore. Depreciation rose ₹3.37 crore or 54.6% to ₹9.54 crore and other expenses increased ₹11.96 crore or 38.0% to ₹43.47 crore.
Other income was ₹0.51 crore, down ₹1.20 crore or 70.2% from ₹1.71 crore in Q2 FY26 and ₹2.11 crore or 80.5% from ₹2.62 crore in Q1 FY27. There was no exceptional item. Finance costs fell ₹0.01 crore from Q2 FY26 to no finance cost in Q2 FY27 and were unchanged from the previous quarter.
Tax expense was ₹7.82 crore, up ₹1.46 crore or 23.0% from ₹6.36 crore in Q2 FY26 and ₹0.75 crore or 10.6% from ₹7.07 crore in Q1 FY27. Despite the increase in expenses, other income and tax, consolidated EBITDA margin rose from 16.1% to 19.4% year on year, while net profit margin increased from 10.4% to 11.7%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 97.39 | 106.51 | −9.12 | −8.6% |
| Employee cost | 26.53 | 22.97 | +3.56 | +15.5% |
| Finance costs | 0 | 0.01 | −0.01 | |
| Depreciation | 9.54 | 6.17 | +3.37 | +54.6% |
| Other expenses | 43.47 | 31.51 | +11.96 | +38.0% |
| Total expenses | 185.80 | 167.97 | +17.83 | +10.6% |
| Other income | 0.51 | 1.71 | −1.20 | −70.2% |
| Tax | 7.82 | 6.36 | +1.46 | +23.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹397.62 crore, up ₹67.69 crore or 20.5% from ₹329.93 crore in H1 FY26. Total income was ₹400.75 crore, up ₹65.70 crore or 19.6% from ₹335.05 crore, while profit before tax rose ₹24.42 crore or 62.5% to ₹63.51 crore.
Net profit for H1 FY27 was ₹48.62 crore, up ₹18.89 crore or 63.5% from ₹29.73 crore in H1 FY26. Basic EPS was ₹22.24, unchanged from ₹22.24 in the year-ago period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 397.62 | 329.93 | +20.5% |
| Profit before tax | 63.51 | 39.09 | +62.5% |
| Net profit | 48.62 | 29.73 | +63.5% |
| EPS (₹) | 22.24 | 22.24 | +0.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹839.57 crore, lower than ₹853.71 crore at 31 March 2026, while total equity rose to ₹704.51 crore from ₹663.75 crore. The company reported no borrowings at either date. Cash was ₹18.14 crore, down from ₹25.12 crore, while inventories rose to ₹132.14 crore from ₹129.37 crore.
Trade receivables fell to ₹87.67 crore from ₹103.28 crore at the previous balance-sheet date, while trade payables declined to ₹53.24 crore from ₹113.49 crore. Operating cash flow for H1 FY27 was ₹26.27 crore, compared with ₹81.11 crore in H1 FY26. Investing cash flow was negative ₹18.71 crore against negative ₹126.86 crore, and financing cash flow was negative ₹14.56 crore against ₹12.67 crore. Capital expenditure was ₹25.86 crore, compared with ₹26.19 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 839.57 | 853.71 |
| Total equity | 704.51 | 663.75 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 18.14 | 25.12 |
| Inventories | 132.14 | 129.37 |
| Trade receivables | 87.67 | 103.28 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 26.27 | 81.11 |
| Cash from investing | −18.71 | −126.86 |
| Cash from financing | −14.56 | 12.67 |
| Capital expenditure | 25.86 | 26.19 |
Source: Company's results filing (XBRL).
How has Venus Remedies done over the last 8 quarters?
Revenue reached its highest point in the listed series at ₹259.4 crore in Q4 FY26 before falling to ₹178.86 crore in Q1 FY27 and rising to ₹218.76 crore in Q2 FY27. The lowest revenue was ₹131.9 crore in Q1 FY26. Venus Remedies reported year-on-year revenue growth in each of the last six quarters.
Net profit peaked at ₹47.49 crore in Q4 FY26 and fell to ₹22.97 crore in Q1 FY27 before rising to ₹25.65 crore in Q2 FY27. The lowest profit was ₹9.6 crore in Q1 FY26. The EBITDA margin reached its high of 24.4% in Q4 FY26 and its low of 7.7% in Q1 FY26, before easing to 19.4% in Q2 FY27. Profit rose year on year in each of the last eight quarters.
What did the auditors point out?
J.K. Jain & Associates stated that nothing came to its attention causing it to believe that the statement of unaudited standalone financial results had not disclosed the information required under Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, or contained any material misstatement. The review was conducted under SRE 2410 and did not constitute an audit; the conclusion was not modified.
The auditors drew attention to Note 5 and outstanding share application money of INR 2,859.72 Lakhs relating to Venus Pharma GmbH, a wholly owned subsidiary. Share allotment had been pending, and management said allotment was not mandatory under applicable laws of Germany. Management said the investment was strategic and intended to be recovered in due course following restructuring of European operations in FY 2026-27. The auditors noted that the subsidiary was facing financial challenges and that the parent company intended to provide financial and operational support during the transition period.
How did Venus Remedies shares react?
The filing appeared after market hours. The stock was up 0.6% after five minutes, then down 2.5% after 15 minutes and 2.0% after 30 minutes. From the previous close of ₹1,469, it fell 5.5% on the reaction day. By the next day's close it was down 9.1%, and by the fifth session it was down 10.5% from the pre-results close.
The Pharmaceuticals industry median rose 2.0% on the reaction day, 2.6% by the next day and 2.2% by five days. Venus Remedies therefore underperformed the industry median by 7.4 percentage points on the reaction day, 11.7 percentage points by the next day's close and 12.7 percentage points by five days. Earlier results-day moves included gains of 5.7% on 20 July 2026, 5.1% on 26 May 2026 and a fall of 10.9% on 29 October 2024.
| After the filing | Stock | Pharmaceuticals median |
|---|---|---|
| 5 minutes | +0.6% | |
| 15 minutes | −2.5% | |
| 30 minutes | −2.0% | |
| Reaction day | −5.5% | +2.0% |
| Next day | −9.1% | +2.6% |
| 5 days | −10.5% | +2.2% |
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 |
|---|---|
| 20 July 2026 | +5.7% |
| 26 May 2026 | +5.1% |
| 29 January 2026 | +4.9% |
| 10 November 2025 | +14.3% |
| 1 August 2025 | −2.0% |
| 26 May 2025 | +10.0% |
| 4 February 2025 | +19.8% |
| 29 October 2024 | −10.9% |
Source: MarketPing price-reaction measurement.
How did other Pharmaceuticals companies do?
Among 60 Pharmaceuticals companies compared for the quarter, the median revenue growth was 19.8%. Venus Remedies’ 13.5% revenue growth was below that median: 38 peers grew faster than the company, while 22 grew slower. The figures are based on peer disclosures available as of 4 November 2026.
Of the 54 peers for which profit was compared, 38 reported higher profit. Venus Remedies’ consolidated net profit increased 27.4% from Q2 FY26.
| Venus Remedies revenue growth (YoY) | +13.5% |
|---|---|
| Median of 60 other Pharmaceuticals companies | +19.8% |
| Companies with slower revenue growth than Venus Remedies | 22 of 60 |
| Companies with faster revenue growth than Venus Remedies | 38 of 60 |
| Companies whose net profit rose | 38 of 54 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Venus Remedies' revenue in Q2 FY27?
Revenue from operations was ₹218.76 crore, up 13.5% from ₹192.75 crore in Q2 FY26 (consolidated).
Did Venus Remedies make a profit in Q2 FY27?
Yes. Net profit was ₹25.65 crore, against a net profit of ₹20.13 crore in Q2 FY26.
What was Venus Remedies' EPS in Q2 FY27?
Basic earnings per share were ₹19.19, against ₹15.06 in Q2 FY26.
How did Venus Remedies shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.5% from the previous close; the median Pharmaceuticals stock moved +2.0%.
When did Venus Remedies announce its Q2 FY27 results?
On 26 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Notice Of Board Meeting Dated 26Th October 2026. (BSE, 14 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Date 26Th October 2026 And Unaudited Financial Results For The Period Ended On 30Th September 2026. (BSE, 26 October 2026) · PDF
- Unaudited Financial Results For The Period Ended On 30Th September 2026. (BSE, 26 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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