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Wockhardt Q2 FY27 results: net profit down 11.0% to ₹73 crore, revenue up 23.9%
Wockhardt Limited reported consolidated Q2 FY27 revenue of ₹969 crore, up 23.9% from ₹782 crore in Q2 FY26, while net profit fell 11.0% to ₹73 crore. EBITDA was ₹173 crore and the EBITDA margin declined to 17.9% from 22.8%, with basic EPS of ₹4.85.
Key points
- Consolidated revenue rose 23.9% year on year to ₹969 crore and increased 4.3% from ₹929 crore in Q1 FY27.
- EBITDA fell 2.8% to ₹173 crore from ₹178 crore, while the margin declined 4.9 percentage points to 17.9%.
- Net profit was ₹73 crore, down 11.0% from ₹82 crore in Q2 FY26 and 31.8% from ₹107 crore in Q1 FY27.
- Basic EPS was ₹4.85, compared with ₹4.81 in Q2 FY26 and ₹6.55 in Q1 FY27.
- For H1 FY27, revenue was ₹1,898 crore and net profit was ₹180 crore, against revenue of ₹1,520 crore and a net loss of ₹26 crore in H1 FY26.
How did Wockhardt perform in Q2 FY27?
Wockhardt’s consolidated Q2 FY27 revenue was ₹969 crore, up 23.9% from ₹782 crore in Q2 FY26 and 4.3% from ₹929 crore in Q1 FY27. Total income was ₹980 crore, compared with ₹803 crore a year earlier and ₹960 crore in the previous quarter. On the standalone basis, revenue was ₹580 crore and profit after tax was ₹100 crore.
Consolidated EBITDA was ₹173 crore in Q2 FY27, down from ₹178 crore in Q2 FY26 and ₹192 crore in Q1 FY27. The EBITDA margin fell 4.9 percentage points year on year to 17.9% and declined 2.8 percentage points from the previous quarter. Profit before tax was ₹73 crore, against ₹91 crore in Q2 FY26 and ₹116 crore in Q1 FY27.
Net profit was ₹73 crore, down 11.0% from ₹82 crore in Q2 FY26 and 31.8% from ₹107 crore in Q1 FY27. Basic EPS was ₹4.85, compared with ₹4.81 in the year-ago quarter and ₹6.55 in the previous quarter. The profit attributable to owners was ₹79 crore, against ₹78 crore in Q2 FY26 and ₹106 crore in Q1 FY27.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 969 | 929 | 782 | +23.9% | +4.3% |
| Other income | 11 | 31 | 21 | −47.6% | −64.5% |
| Total expenses | 907 | 844 | 712 | +27.4% | +7.5% |
| EBITDA | 173 | 192 | 178 | −2.8% | −9.9% |
| EBITDA margin | 17.9% | 20.7% | 22.8% | −4.9 pp | −2.8 pp |
| Profit before tax | 73 | 116 | 91 | −19.8% | −37.1% |
| Tax | 0 | 9 | 9 | ||
| Net profit | 73 | 107 | 82 | −11.0% | −31.8% |
| EPS (₹) | 4.85 | 6.55 | 4.81 | +0.8% | −26.0% |
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 Wockhardt's costs and profit?
Total expenses rose 27.4% year on year to ₹907 crore, compared with revenue growth of 23.9%. Cost of materials increased by ₹84 crore to ₹243 crore, other expenses rose by ₹69 crore to ₹254 crore, and employee cost increased by ₹15 crore to ₹201 crore. Finance costs rose by ₹1 crore to ₹56 crore, while depreciation increased by ₹2 crore to ₹55 crore. The filing did not state reasons for these changes.
Other income fell by ₹10 crore to ₹11 crore from ₹21 crore in Q2 FY26, while tax declined by ₹9 crore to no tax expense from ₹9 crore. There was no exceptional item. Against the previous quarter, total expenses rose by ₹63 crore, other expenses increased by ₹40 crore, cost of materials rose by ₹10 crore, and finance costs rose by ₹4 crore; other income fell by ₹20 crore.
Compared with Q1 FY27, employee cost fell by ₹2 crore to ₹201 crore and depreciation was unchanged at ₹55 crore. Other income fell by ₹20 crore to ₹11 crore and tax declined by ₹9 crore to no tax expense. These movements accompanied a fall in EBITDA from ₹192 crore to ₹173 crore and in net profit from ₹107 crore to ₹73 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 243 | 159 | +84 | +52.8% |
| Employee cost | 201 | 186 | +15 | +8.1% |
| Finance costs | 56 | 55 | +1 | +1.8% |
| Depreciation | 55 | 53 | +2 | +3.8% |
| Other expenses | 254 | 185 | +69 | +37.3% |
| Total expenses | 907 | 712 | +195 | +27.4% |
| Other income | 11 | 21 | −10 | −47.6% |
| Tax | 0 | 9 | −9 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Wockhardt reported consolidated revenue of ₹1,898 crore, up 24.9% from ₹1,520 crore in H1 FY26. Total income rose 24.3% to ₹1,940 crore from ₹1,561 crore. Profit before tax turned to ₹189 crore from a loss of ₹18 crore, while net profit turned to ₹180 crore from a net loss of ₹26 crore.
Basic EPS for H1 FY27 was ₹11.41, compared with a loss of ₹0.72 per share in H1 FY26. The company therefore reported a turnaround in both profit before tax and net profit for the first half, alongside higher revenue and total income.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,898 | 1,520 | +24.9% |
| Profit before tax | 189 | −18 | turned to profit |
| Net profit | 180 | −26 | turned to profit |
| EPS (₹) | 11.41 | −0.72 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Wockhardt’s consolidated total assets were ₹8,902 crore as on 30 September 2026, compared with ₹8,615 crore as on 31 March 2026. Total equity was ₹5,500 crore against ₹5,281 crore, borrowings were ₹2,150 crore against ₹2,125 crore, and cash was ₹330 crore against ₹217 crore. Inventories rose to ₹973 crore from ₹887 crore.
Trade receivables were ₹632 crore as on 30 September 2026, compared with ₹588 crore as on 31 March 2026, while trade payables were ₹623 crore against ₹563 crore. In H1 FY27, operating cash flow was ₹237 crore, compared with ₹189 crore in H1 FY26. Investing cash flow was negative ₹2 crore against negative ₹417 crore, financing cash flow was negative ₹123 crore against positive ₹297 crore, and capital expenditure was ₹83 crore against ₹70 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 8,902 | 8,615 |
| Total equity | 5,500 | 5,281 |
| Borrowings | 2,150 | 2,125 |
| Cash and equivalents | 330 | 217 |
| Inventories | 973 | 887 |
| Trade receivables | 632 | 588 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 237 | 189 |
| Cash from investing | −2 | −417 |
| Cash from financing | −123 | 297 |
| Capital expenditure | 83 | 70 |
Source: Company's results filing (XBRL).
How has Wockhardt done over the last 8 quarters?
Wockhardt’s revenue rose year on year in each of the last four quarters. Across the supplied quarterly series, revenue peaked at ₹969 crore in Q2 FY27 and was lowest at ₹721 crore in Q3 FY25. The latest reading was above Q1 FY27’s ₹929 crore and Q4 FY26’s ₹965 crore, although it was below the preceding period’s higher level in the series’ peak quarter.
Profit attributable to owners bottomed at a net loss of ₹108 crore in Q1 FY26 and reached ₹164 crore in Q4 FY26 before falling to ₹107 crore in Q1 FY27 and ₹73 crore in Q2 FY27. The EBITDA margin bottomed at 8.6% in Q4 FY25 and peaked at 23.3% in Q4 FY26; it eased to 20.7% in Q1 FY27 and 17.9% in Q2 FY27. Revenue has continued upward, while profit and margin have declined in the latest quarter.
What else did the company announce?
Wockhardt filed with the BSE on 2 November 2026 that the board had approved the un-audited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The results were reviewed by the audit committee and limited review by the statutory auditors, MSKC & Associates LLP. The filing did not announce a dividend or fund raise.
A separate same-day filing said the board had designated Sumit Garg, Chief Digital & Information Officer, as Senior Management Personnel with effect from 2 November 2026. His appointment was on a full-time employment basis. The filing described him as having more than 30 years of technology and transformation leadership experience.
How did Wockhardt shares react?
After the filing appeared after market, the stock moved down 0.5% in five minutes, up 0.7% in 15 minutes and up 3.1% in 30 minutes. From the pre-results close of ₹1,897.5, the reaction-day close was down 2.0% at a base price of ₹1,851. By the next day’s close, the stock was up 0.3% from that pre-results close. The Pharmaceuticals industry’s median reaction-day move was 0.1%, leaving Wockhardt’s relative move at negative 2.1 percentage points; by the next day, the relative move was negative 0.8 percentage points.
Earlier results-day moves were mixed: the stock was up 1.2% on 17 July 2026, up 8.3% on 4 May 2026, up 1.7% on 10 February 2026 and up 8.7% on 3 November 2025. It fell 4.6% on 8 August 2025, rose 0.7% on 29 May 2025, fell 3.3% on 7 February 2025 and rose 1.4% on 13 November 2024.
| After the filing | Stock | Pharmaceuticals median |
|---|---|---|
| 5 minutes | −0.5% | |
| 15 minutes | +0.7% | |
| 30 minutes | +3.1% | |
| Reaction day | −2.0% | +0.1% |
| Next day | +0.3% | +1.1% |
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 |
|---|---|
| 17 July 2026 | +1.2% |
| 4 May 2026 | +8.3% |
| 10 February 2026 | +1.7% |
| 3 November 2025 | +8.7% |
| 8 August 2025 | −4.6% |
| 29 May 2025 | +0.7% |
| 7 February 2025 | −3.3% |
| 13 November 2024 | +1.4% |
Source: MarketPing price-reaction measurement.
How did other Pharmaceuticals companies do?
Among 59 other Pharmaceuticals companies that had filed for the quarter, the median revenue growth was 18.9%. Wockhardt’s revenue growth was higher than that of 35 peers and lower than that of 24 peers. Of the 53 peers for which profit was compared, 39 reported higher profit, as of 4 November 2026.
| Wockhardt revenue growth (YoY) | +23.9% |
|---|---|
| Median of 59 other Pharmaceuticals companies | +18.9% |
| Companies with slower revenue growth than Wockhardt | 35 of 59 |
| Companies with faster revenue growth than Wockhardt | 24 of 59 |
| Companies whose net profit rose | 39 of 53 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Wockhardt's revenue in Q2 FY27?
Revenue from operations was ₹969 crore, up 23.9% from ₹782 crore in Q2 FY26 (consolidated).
Did Wockhardt make a profit in Q2 FY27?
Yes. Net profit was ₹73 crore, against a net profit of ₹82 crore in Q2 FY26.
What was Wockhardt's EPS in Q2 FY27?
Basic earnings per share were ₹4.85, against ₹4.81 in Q2 FY26.
How did Wockhardt shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.0% from the previous close; the median Pharmaceuticals stock moved +0.1%.
When did Wockhardt announce its Q2 FY27 results?
On 2 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of The Meeting Of Board Of Directors Of Wockhardt Limited ('The Company') (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Financial Result For The Quarter And Half Year Ended September 30, 2026 (BSE, 2 November 2026) · PDF
- Quarter And Half Year Ended September 30, 2026. (BSE, 2 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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