Fermenta Biotech Limited, a manufacturer of Vitamin D3 API and nutritional ingredients, reported consolidated revenue excluding real estate of Rs. 124.3 crore for the quarter ended June 30, 2026, down 12% year-on-year and broadly flat sequentially.

Consolidated EBITDA excluding real estate stood at Rs. 22.3 crore, declining 37% YoY and 10% QoQ.

The company said the year-on-year comparison was impacted by an exceptionally strong Q1 FY26, which included Rs. 2.7 crore of non-recurring insurance income and Rs. 1.6 crore from real estate value unlocking, neither of which recurred in the current quarter.

Including real estate, consolidated revenue stood at Rs. 126.2 crore, down 13% YoY and flat QoQ, while EBITDA was Rs. 22.4 crore, down 39% YoY and 11% QoQ. Profit after tax stood at Rs. 9.5 crore, compared with Rs. 21.6 crore in the year-ago quarter, a decline of 56%.

The company highlighted a stronger sequential performance in its human nutrition business, with volumes increasing 18% QoQ. Revenue from Vitamin D3 – Human Nutrition stood at Rs. 76.5 crore, up 24% sequentially, although down 10% YoY. The segment accounted for 61% of consolidated revenue. 

Animal nutrition remained a key area of weakness, with Vitamin D3 – Animal Nutrition revenue declining 41% YoY to Rs. 12.6 crore. Volumes declined 52% QoQ and 20% YoY, while average realisation fell 40% YoY.

Other businesses recorded growth during the quarter. Revenue from Other APIs and Intermediates increased 18% YoY to Rs. 11.6 crore, while the Others segment within nutrition grew 28% to Rs. 11 crore. Green Chemistry Solutions and Enzymes revenue increased 15% YoY to Rs. 2.3 crore, supported by customer acquisitions made over the past year beginning to generate repeat volumes.

Prashant Nagre, Managing Director, Fermenta Biotech, said, “This was a quarter of building rather than harvesting. The year-on-year arithmetic sits against an exceptionally strong April–June 2025 base and does not describe the direction of the business. Human nutrition volumes rose 18% over the preceding quarter, India moved to 47% of consolidated revenue from 35% a year ago, and every business other than animal nutrition grew.” 

He added, “Other APIs and Intermediates grew 18% year-on-year. Green Chemistry Solutions and Enzymes 15%, and the Others line within nutrition 28%. These are smaller businesses today, but they are growing on their own customer wins. Animal nutrition remains the soft spot, with realisations down 40%, and we have chosen volume discipline over chasing a weak price.”