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Symbiotec Pharmalab Q1FY27 revenue grew 7 percent YoY

ICICIdirect Research 22 Sep 2026 DISCLAIMER

News: Symbiotec Pharmalab Q1FY27 revenue grew 7% YoY to ₹218.2 crore, driven by persistent traction from API Business to ₹215.3 crore. EBITDA for the quarter de-grew 22% YoY to ₹45.2 crore, a 781-bps decline in margins to 20.7% despite 342 bps YoY improvement in GPM to 65.4%. PAT for the quarter stood at ₹14.1 crore. 

View: The growth in API business, which mainly comprise corticosteroids and steroidal hormones,  is in line with the management’s long-term guidance of ~8%. The drag on EBITDA was mainly due to expenses from new businesses which are yet to generate significant traction (operating expenditure - ₹23 crore). Adjusting for this, the margins stood healthy ~31%. We believe company remains in good stead as revenues from capex of ~₹1000 crore invested in new businesses are expected to commence in the next 6-12 months wherein the management has multiple take-or-pay agreements and out licensing deals for two DCV injectable products in the US.

Impact: Positive

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