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Zenotech Laboratories Q2 FY27 results: net loss widens to ₹2.57 crore, revenue down 40.1%
Zenotech Laboratories Ltd reported standalone revenue of ₹6.13 crore in Q2 FY27, down 40.1% from Q2 FY26 and 36.1% from Q1 FY27. The company reported a net loss of ₹2.57 crore and an EBITDA margin of -49.7%, compared with a net loss of ₹0.84 crore and a 12.6% margin in the year-ago quarter. The Board approved the unaudited standalone results for the quarter and half year ended 30 September 2026.
Key points
- Q2 FY27 revenue was ₹6.13 crore, down 40.1% from ₹10.23 crore in Q2 FY26 and 36.1% from ₹9.60 crore in Q1 FY27.
- The company reported an EBITDA loss of ₹3.05 crore in Q2 FY27, compared with EBITDA of ₹1.29 crore in Q2 FY26, while the margin fell to -49.7% from 12.6%.
- Net loss was ₹2.57 crore in Q2 FY27, against a net loss of ₹0.84 crore in Q2 FY26 and ₹0.46 crore in Q1 FY27.
- H1 FY27 revenue was ₹15.73 crore, down 16.6% from ₹18.87 crore in H1 FY26, while the company reported a net loss of ₹3.03 crore.
- The reaction-day share price move was -1.6%, compared with a 0.6% median move for other Pharmaceuticals stocks, leaving the stock 2.2 percentage points behind the industry.
How did Zenotech Laboratories perform in Q2 FY27?
Zenotech Laboratories reported standalone revenue of ₹6.13 crore for Q2 FY27, down 40.1% from ₹10.23 crore in Q2 FY26 and 36.1% from ₹9.60 crore in Q1 FY27. Total income was ₹7.57 crore, down 36.6% year on year and 31.5% from the previous quarter. The figures are standalone; no consolidated result was given.
EBITDA moved from ₹1.29 crore in Q2 FY26 to a loss of ₹3.05 crore in Q2 FY27, while the margin fell 62.3 percentage points to -49.7%. Against Q1 FY27, the EBITDA loss widened by ₹2.90 crore and the margin fell 48.1 percentage points from -1.6%.
The company reported a loss before tax of ₹3.42 crore, compared with profit of ₹1.26 crore in Q2 FY26 and a loss of ₹0.60 crore in Q1 FY27. Net loss was ₹2.57 crore, against a net loss of ₹0.84 crore a year ago and ₹0.46 crore in the previous quarter. Basic EPS was -₹0.42, compared with -₹0.07 in Q1 FY27; no year-ago EPS was provided.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 6.13 | 9.60 | 10.23 | −40.1% | −36.1% |
| Other income | 1.44 | 1.45 | 1.70 | −15.3% | −0.7% |
| Total expenses | 10.99 | 11.65 | 10.73 | +2.4% | −5.7% |
| EBITDA | −3.05 | −0.15 | 1.29 | turned to loss | |
| EBITDA margin | -49.7% | -1.6% | 12.6% | −62.3 pp | −48.1 pp |
| Profit before tax | −3.42 | −0.60 | 1.26 | turned to loss | |
| Tax | −0.85 | −0.15 | 2.09 | ||
| Net profit | −2.57 | −0.46 | −0.84 | ||
| EPS (₹) | −0.42 | −0.07 |
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 Zenotech Laboratories' costs and profit?
Total expenses were ₹10.99 crore in Q2 FY27, up ₹0.26 crore or 2.4% from ₹10.73 crore in Q2 FY26. Employee benefit expenses rose by ₹0.89 crore or 23.4% to ₹4.69 crore, and depreciation increased by ₹0.04 crore or 2.2% to ₹1.82 crore. Other expenses declined by ₹0.66 crore or 12.8% to ₹4.48 crore, while cost of materials and finance costs were unchanged.
Other income fell by ₹0.26 crore or 15.3% to ₹1.44 crore from ₹1.70 crore in Q2 FY26. The year-ago quarter included an exceptional gain of ₹0.05 crore, while Q2 FY27 had no exceptional item. Tax moved from ₹2.09 crore in Q2 FY26 to a credit of ₹0.85 crore in Q2 FY27, a difference of ₹2.94 crore.
Against Q1 FY27, total expenses were lower by ₹0.66 crore or 5.7% at ₹10.99 crore. Employee benefit expenses fell by ₹0.23 crore, depreciation by ₹0.08 crore and other expenses by ₹0.35 crore. Other income was lower by ₹0.01 crore, while tax moved from a credit of ₹0.15 crore to a credit of ₹0.85 crore. The filing did not state reasons for the changes in revenue or costs.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 4.69 | 3.80 | +0.89 | +23.4% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 1.82 | 1.78 | +0.04 | +2.2% |
| Other expenses | 4.48 | 5.14 | −0.66 | −12.8% |
| Total expenses | 10.99 | 10.73 | +0.26 | +2.4% |
| Other income | 1.44 | 1.70 | −0.26 | −15.3% |
| Tax | −0.85 | 2.09 | −2.94 | |
| Exceptional items | none | +0.05 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Zenotech Laboratories reported standalone revenue of ₹15.73 crore, down ₹3.14 crore or 16.6% from ₹18.87 crore in H1 FY26. Total income fell by ₹3.55 crore or 16.0% to ₹18.62 crore from ₹22.17 crore. The filing approved the unaudited standalone half-year results along with the quarterly figures.
Loss before tax for the first half was ₹4.02 crore, compared with profit of ₹2.54 crore in H1 FY26. The company reported a net loss of ₹3.03 crore for H1 FY27, against a net profit of ₹0.15 crore in the year-ago period, while EPS was -₹0.50 compared with ₹0.03.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 15.73 | 18.87 | −16.6% |
| Profit before tax | −4.02 | 2.54 | turned to loss |
| Net profit | −3.03 | 0.15 | turned to loss |
| EPS (₹) | −0.50 | 0.03 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹109.88 crore on 30 September 2026, compared with ₹111.15 crore on 31 March 2026. Total equity fell to ₹92.12 crore from ₹95.12 crore, while cash and cash equivalents declined to ₹28.54 crore from ₹30.29 crore. The company reported no borrowings at either balance-sheet date.
Inventories were ₹1.55 crore at the end of Q2 FY27, against no inventory at 31 March 2026. Trade receivables fell to ₹1.87 crore from ₹8.78 crore, while trade payables rose to ₹4.56 crore from ₹3.70 crore. The Board approved the standalone balance sheet with the results on 28 October 2026.
H1 FY27 operating cash flow was ₹3.38 crore, compared with ₹8.33 crore in H1 FY26. Investing cash flow was a negative ₹5.13 crore, compared with a negative ₹3.29 crore, while financing cash flow was unchanged at no exceptional financing item. Capital expenditure was ₹5.93 crore, up from ₹4.24 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 109.88 | 111.15 |
| Total equity | 92.12 | 95.12 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 28.54 | 30.29 |
| Inventories | 1.55 | 0 |
| Trade receivables | 1.87 | 8.78 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 3.38 | 8.33 |
| Cash from investing | −5.13 | −3.29 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 5.93 | 4.24 |
Source: Company's results filing (XBRL).
How has Zenotech Laboratories done over the last 8 quarters?
Revenue peaked at ₹11.83 crore in Q3 FY26 and reached its lowest point of the listed series at ₹6.13 crore in Q2 FY27. It has declined in each of the last two quarters after that peak. The company reported a net loss of ₹2.57 crore in the latest quarter, following losses of ₹3.15 crore in Q4 FY26 and ₹0.46 crore in Q1 FY27.
The EBITDA margin peaked at 31.1% in Q4 FY25 and fell to its lowest level of -49.7% in Q2 FY27. It was -9.5% in Q4 FY26 and -1.6% in Q1 FY27, showing a lower margin in the latest quarter. The latest revenue and profit figures were the weakest in the listed quarterly series.
How did Zenotech Laboratories shares react?
The stock was up 0.8% after 5 minutes and 0.8% after 15 minutes from the price when the filing appeared, while it was unchanged after 30 minutes. From the pre-results close, it fell 1.6% on the reaction day; by the next day's close, the cumulative move was -1.1%.
The Pharmaceuticals industry median was up 0.6% on the reaction day and 1.1% by the next day's close, compared with Zenotech Laboratories at -1.6% and -1.1%. The stock therefore lagged the industry by 2.2 percentage points on the reaction day and 2.2 percentage points by the next day's close.
Earlier reaction-day moves were -2.2% on 28 July 2026, -3.3% on 29 April 2026 and -3.4% on 23 January 2026. The stock was also down 5.0% on 31 October 2025, down 5.2% on 23 October 2024 and down 5.3% on 26 July 2024; the move on 25 April 2025 was unchanged.
| After the filing | Stock | Pharmaceuticals median |
|---|---|---|
| 5 minutes | +0.8% | |
| 15 minutes | +0.8% | |
| 30 minutes | +0.0% | |
| Reaction day | −1.6% | +0.6% |
| Next day | −1.1% | +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 |
|---|---|
| 28 July 2026 | −2.2% |
| 29 April 2026 | −3.3% |
| 23 January 2026 | −3.4% |
| 31 October 2025 | −5.0% |
| 28 July 2025 | −1.6% |
| 25 April 2025 | +0.0% |
| 23 October 2024 | −5.2% |
| 26 July 2024 | −5.3% |
Source: MarketPing price-reaction measurement.
How did other Pharmaceuticals companies do?
Sixty other Pharmaceuticals companies that had filed for the quarter were compared with Zenotech Laboratories as of 4 November 2026. Their median revenue growth was 19.8%, while three grew more slowly than Zenotech Laboratories and 57 grew faster than Zenotech Laboratories.
Of the 54 peers for which profit was compared, 39 reported higher profit. Zenotech Laboratories reported a net loss of ₹2.57 crore for Q2 FY27, while the peer comparison covered revenue growth and profit movements reported by the other Pharmaceuticals companies.
| Zenotech Laboratories revenue growth (YoY) | −40.1% |
|---|---|
| Median of 60 other Pharmaceuticals companies | +19.8% |
| Companies with slower revenue growth than Zenotech Laboratories | 3 of 60 |
| Companies with faster revenue growth than Zenotech Laboratories | 57 of 60 |
| Companies whose net profit rose | 39 of 54 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Zenotech Laboratories' revenue in Q2 FY27?
Revenue from operations was ₹6.13 crore, down 40.1% from ₹10.23 crore in Q2 FY26 (standalone).
Did Zenotech Laboratories make a profit in Q2 FY27?
No. It reported a net loss of ₹2.57 crore, against a net loss of ₹0.84 crore in Q2 FY26.
What was Zenotech Laboratories' EPS in Q2 FY27?
Basic loss per share was ₹0.42.
How did Zenotech Laboratories shares react to the Q2 FY27 results?
On the reaction day the stock moved −1.6% from the previous close; the median Pharmaceuticals stock moved +0.6%.
When did Zenotech Laboratories announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering And Approving Unaudited Standalone Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026. (BSE, 17 October 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Unaudited Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026. (BSE, 28 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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