The call ran from 5:35 PM to 6:34 PM IST (58 min).

Key takeaways

H1 FY27 revenue of ₹667 Cr was slightly below ₹680 Cr a year ago. Management blamed a one-month government rate-contract delay and reiterated 25% FY27 growth guidance.

Guidance and delivery
Management target	Revenue 25.0% FY27

Highlights
Revenue growth	H1 revenue ₹667 Cr, down ~2% YoY; timing-driven per management.
Margins	H1 EBITDA margin 23%; FY27 guided 24-25%; OptraSCAN drags.
Order book	Central procurement orders in hand; no order book figure disclosed.
Demand visibility	Rate contract renewed; orders in hand; hepatitis demand building.
Management confidence	Confident; repeatedly reiterates 25% guidance despite soft H1.

Growth

Revenue fell about 2% YoY to ₹667 Cr, which management attributes to timing rather than demand. H1 PAT of ₹60 Cr was softer on OptraSCAN interest and amortisation.

Outlook

Guides 25% FY27 top-line growth and a 24-25% EBITDA margin. H2 is expected to contribute about 60% of annual revenue.

Risks

Government tender timing and rate-contract delays can swing quarters. OptraSCAN carries a ₹15 Cr H1 EBITDA loss, and FY27 targets depend on a heavy H2 catch-up.

Last quarter's promises, checked

Delivered

OptraScan not profitable FY27 → H1 EBITDA loss ₹15 Cr (= BEAT)
₹72 Cr automation from ₹200 Cr IPO → ₹72 Cr automation capex ordered (= BEAT)

Partly delivered

24–25% FY27 EBITDA margin → H1 margin 23% (= PARTIAL)
2,200–2,600 devices FY27 → H1 559 devices (= PARTIAL, H2-dependent)

Missed

25% FY27 top-line growth → H1 revenue ₹667 Cr, down ~2% YoY (= MISS to date)

Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published 11 Nov 2026, 6:04 PM IST. Open it on ALFA Filings ›