The call has ended.

Key takeaways

Consolidated sales rose about 14% to ₹2,910 Cr and EBITDA margin reached 22.97%, inside the 22-23% guided band. Management reiterated FY27 guidance without a raise.

Guidance and delivery
EBITDA Margin: guided vs achieved	22.97% achieved Guided 22.00%–23.00%, -0.1% above the top of the range

Highlights
Revenue growth	Consolidated ~14% YoY, mostly volume-led in Zerodol franchise.
Margins	Consolidated EBITDA 22.97% vs 21.68%; standalone 26.6% vs 25.46%.
Demand visibility	Chronic IPM ~17%; Ipca chronic ~20%, acute ~11%, at par.
Management confidence	Confident; reiterated FY27 guidance without revision or upgrade.

Growth

Consolidated sales +14% YoY (₹2,557 to ₹2,910 Cr). Standalone exports +32%. Zerodol growth is about 8-9% volume and 4-4.5% price.

Outlook

Reiterated FY27 guidance: 14-16% revenue growth and 22-23% consolidated EBITDA margin, with no revision. Institutional sales may reach ₹325-340 Cr.

Risks

Freight, energy and input inflation persist. Unichem margin may stay at 11-13%. Pisgah remains loss-making. Institutional business may decline next year.

Last quarter's promises, checked

Delivered

Domestic FY27 growth 12–13% → +14% (= BEAT)
Institutional growth single-digit → +45% (= BEAT, lumpy)

Partly delivered

Consolidated revenue growth 14–16% → ~14% (= PARTIAL, at floor)
Consolidated EBITDA margin ~23% → 22.97% (= PARTIAL, just short)
Year-end term debt ₹70 Cr → tracking ₹70–75 Cr (= PARTIAL, not yet due)

Missed

Unichem EBITDA margin 13% → may stay 11–13% (= MISS)

Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published 6 Nov 2026, 5:33 PM IST. Open it on ALFA Filings ›