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Clean headline: revenue +16% YoY, EBITDA 34%, PAT +14%. Growth leans on deferred sales and rising top-10 customer concentration (46%). US recovery is only hoped for.
Q2 FY27 consolidated revenue ₹2,145mn (+16% YoY), EBITDA ₹721mn (+20%, 34% margin), PAT ₹512mn (+14%). H1 revenue +10%, PAT +5%. Industrial bio-processing and animal nutrition lead growth.
Q1FY27 was muted with flat revenue growth and EBITDA contraction due to higher energy costs and standard revenue reversal accounting. Management maintains double-digit growth targets despite current geopolitical and US-market headwinds.