Senores Pharmaceuticals Limited has reported its highest-ever quarterly revenue and EBITDA for the second quarter of FY27, with revenue climbing 24.9% year-on-year to Rs 192.3 crore, against Rs 153.9 crore in the corresponding quarter last year.

 

The research-driven pharmaceutical company, which develops and manufactures specialty, niche and complex products for regulated and emerging markets, also delivered a sharp improvement in profitability, with Q2 EBITDA rising 38% year-on-year to Rs 58 crore and profit after tax (PAT) increasing 22% to Rs 37 crore.

 

The strong quarterly performance capped a robust first half of FY27. Consolidated revenue for H1 rose 30% to Rs 372.5 crore, compared with Rs 286.5 crore a year ago. EBITDA surged 58% to Rs 111 crore, while PAT grew 31% to Rs 67 crore.

 

Profitability also strengthened significantly, with EBITDA margins expanding by approximately 290 basis points in Q2 and 530 basis points in H1 on a year-on-year basis.

 

The regulated markets business remained the biggest growth engine, with Q2 revenue rising 27.9% to Rs 136.7 crore. For H1, revenue from the segment jumped 34.3% to Rs 264.5 crore.

 

Emerging markets also maintained their growth momentum, posting a 21.2% increase in Q2 revenue to Rs 38.4 crore. H1 revenue from the segment rose 25.3% to Rs 76 crore.

 

However, the branded generics business remained under pressure, with revenue declining 20.5% to Rs 9.5 crore in Q2 and 13.4% to Rs 17.5 crore in H1.

 

The company said growth was supported by broad-based business performance, expanding product offerings and stronger execution across markets.

 

Senores has significantly expanded its regulated markets portfolio, nearly doubling its Abbreviated New Drug Application (ANDA) count from 34 in September 2025 to 64 in September 2026. Of these, 23 products have been commercialised, while another 41 launches are planned over the next 18-24 months.

 

The company is also advancing its manufacturing capabilities, including the scaling up of its Apnar facility, while expecting future contributions from Zoraya and Amerisyn.

 

Its CDMO/CMO opportunity pipeline comprises 41 molecules covering approximately 130 strengths, providing an additional growth avenue.

 

Cash generation also showed improvement, with cash from operations reaching Rs 38 crore in H1 FY27, compared with Rs 31 crore in the corresponding period last year.

 

The company acknowledged that initial set-up and operating expenses associated with Zoraya and Amerisyn weighed on profitability during the period, despite the facilities not yet generating corresponding revenues.

 

However, it expects the scale-up of these operations from FY28 onwards to improve operating leverage and support margin expansion.

 

The emerging markets business continued to grow alongside improving profitability and positive cash flows. Senores is also looking to expand its market access through its entry into Europe and anticipated PIC/S approval for its Chhatral facility.

 

In India, investments in field-force expansion and wider market reach are expected to support the company's critical care injectables business.

 

Commenting on the performance, Swapnil Shah, Managing Director, Senores Pharmaceuticals Limited said, "We delivered another robust performance in Q2 and H1 FY27, marking our 9th consecutive quarter of healthy double-digit growth. Strong execution, operational excellence and diversified business operations continue to drive growth and strengthen our business fundamentals.

 

"Our Regulated Markets business sustained strong momentum, with our ANDA portfolio nearly doubling to 64, including 23 commercialized products and 41 planned launches over the next 18–24 months. Strong launch readiness, the scaling up of our Apnar facility, and the upcoming contributions from Zoraya and Amerisyn provide clear growth visibility. Our CDMO/CMO opportunities and pipeline of 41 molecules covering approximately 130 strengths further strengthen our growth platform.

 

"Our Emerging Markets business continued to grow, with improving profitability and positive cash flows. Entry into Europe and the anticipated PIC/S approval for our Chhatral facility are expected to expand market access and support future growth. In India, investments in field-force expansion and market reach position our critical care injectables business for steady progress."

 

With a growing product pipeline, expanding manufacturing infrastructure and a strong pipeline of commercial launches, Senores is maintaining its FY27 guidance of 30-40% revenue growth and 50-60% PAT growth. The company is also targeting annual growth of 20-25% over the subsequent two years.