Trump:
They say "We're going to impeach Trump for trying to stop Iran from having a nuclear weapon."
I said, "No, no, take the word trying out. For stopping Iran. We stopped them."
They say "We're going to impeach Trump for trying to stop Iran from having a nuclear weapon."
I said, "No, no, take the word trying out. For stopping Iran. We stopped them."
🍌4
SUN PHARMA – Q2 FY27 CONCALL HIGHLIGHTS
📊 FINANCIAL PERFORMANCE
• Revenue: ₹16,100 Cr (+11.8% YoY).
• Gross Margin: 80.8%, supported by better product mix and favourable currency.
• EBITDA: ₹4,744 Cr (+4.8% YoY).
• EBITDA Margin: 29.3%.
• Adjusted Net Profit: ₹3,162 Cr.
• H1 FY27 Revenue: ₹31,284 Cr (+11% YoY).
• H1 EBITDA Margin: 29.1%.
• Net Cash Position: $3.3 billion.
📊 FINANCIAL PERFORMANCE
• Revenue: ₹16,100 Cr (+11.8% YoY).
• Gross Margin: 80.8%, supported by better product mix and favourable currency.
• EBITDA: ₹4,744 Cr (+4.8% YoY).
• EBITDA Margin: 29.3%.
• Adjusted Net Profit: ₹3,162 Cr.
• H1 FY27 Revenue: ₹31,284 Cr (+11% YoY).
• H1 EBITDA Margin: 29.1%.
• Net Cash Position: $3.3 billion.
SUN PHARMA – Q2 FY27 CONCALL HIGHLIGHTS
🌏 SEGMENT-WISE PERFORMANCE
🇮🇳 India Formulations
• Revenue: ₹5,552 Cr (+17.3% YoY).
• Contributed 34.5% of total sales.
🇺🇸 US Business
• Revenue: $455 million (-8.2% YoY).
• Sequential growth of 6.5%.
• Decline mainly due to lenalidomide erosion.
🌍 Global Innovative Medicines
• Revenue: $356 million (+6.9% YoY).
• Contributed 21.1% of total sales.
🌐 Emerging Markets
• Revenue: $350 million (+7.6% YoY).
• Growth driven by branded generics and innovative medicines.
🌏 Rest of the World
• Formulation revenue: $241 million.
🌏 SEGMENT-WISE PERFORMANCE
🇮🇳 India Formulations
• Revenue: ₹5,552 Cr (+17.3% YoY).
• Contributed 34.5% of total sales.
🇺🇸 US Business
• Revenue: $455 million (-8.2% YoY).
• Sequential growth of 6.5%.
• Decline mainly due to lenalidomide erosion.
🌍 Global Innovative Medicines
• Revenue: $356 million (+6.9% YoY).
• Contributed 21.1% of total sales.
🌐 Emerging Markets
• Revenue: $350 million (+7.6% YoY).
• Growth driven by branded generics and innovative medicines.
🌏 Rest of the World
• Formulation revenue: $241 million.
SUN PHARMA – Q2 FY27 CONCALL HIGHLIGHTS
🌏 SEGMENT-WISE PERFORMANCE
🇮🇳 India Formulations
• Revenue: ₹5,552 Cr (+17.3% YoY).
• Contributed 34.5% of total sales.
🇺🇸 US Business
• Revenue: $455 million (-8.2% YoY).
• Sequential growth of 6.5%.
• Decline mainly due to lenalidomide erosion.
🌍 Global Innovative Medicines
• Revenue: $356 million (+6.9% YoY).
• Contributed 21.1% of total sales.
🌐 Emerging Markets
• Revenue: $350 million (+7.6% YoY).
• Growth driven by branded generics and innovative medicines.
🌏 Rest of the World
• Formulation revenue: $241 million.
🌏 SEGMENT-WISE PERFORMANCE
🇮🇳 India Formulations
• Revenue: ₹5,552 Cr (+17.3% YoY).
• Contributed 34.5% of total sales.
🇺🇸 US Business
• Revenue: $455 million (-8.2% YoY).
• Sequential growth of 6.5%.
• Decline mainly due to lenalidomide erosion.
🌍 Global Innovative Medicines
• Revenue: $356 million (+6.9% YoY).
• Contributed 21.1% of total sales.
🌐 Emerging Markets
• Revenue: $350 million (+7.6% YoY).
• Growth driven by branded generics and innovative medicines.
🌏 Rest of the World
• Formulation revenue: $241 million.
SUN PHARMA – Q2 FY27 CONCALL HIGHLIGHTS
💊 KEY PRODUCT & PIPELINE UPDATES
• Illumia faced a slowdown in the US due to market and execution factors. Received US approval for psoriatic arthritis; soft launch planned for November.
• ONLOXIT received preferred recommendation in NCCN guidelines. New long-term data showed efficacy and tolerability.
• Launched 5 new generic products in the US during Q2.
• Partnership with Leap Therapeutics for Liraglutide to expand the innovative portfolio for cholesterol management outside the US and China.
• Generic Semaglutide launched by a partner in Brazil. Already commercialised in India and South Africa.
• Launched 15 new products in India during Q2.
🔬 R&D AND INNOVATION
• Q2 R&D Spend: ₹778 Cr, representing 4.8% of sales.
• Innovative R&D accounted for 32.4% of total R&D expenditure.
• Management expects R&D spending to increase significantly in H2 FY27.
💊 KEY PRODUCT & PIPELINE UPDATES
• Illumia faced a slowdown in the US due to market and execution factors. Received US approval for psoriatic arthritis; soft launch planned for November.
• ONLOXIT received preferred recommendation in NCCN guidelines. New long-term data showed efficacy and tolerability.
• Launched 5 new generic products in the US during Q2.
• Partnership with Leap Therapeutics for Liraglutide to expand the innovative portfolio for cholesterol management outside the US and China.
• Generic Semaglutide launched by a partner in Brazil. Already commercialised in India and South Africa.
• Launched 15 new products in India during Q2.
🔬 R&D AND INNOVATION
• Q2 R&D Spend: ₹778 Cr, representing 4.8% of sales.
• Innovative R&D accounted for 32.4% of total R&D expenditure.
• Management expects R&D spending to increase significantly in H2 FY27.
❤1
SUN PHARMA – Q2 FY27 CONCALL HIGHLIGHTS
🎯 OUTLOOK & CORPORATE DEVELOPMENTS
• FY27 Revenue Growth Guidance: High-single-digit growth maintained.
• FY27 R&D Spend Guidance: 6–7% of sales.
• Organon acquisition expected to close by Q4 FY27; most regulatory approvals secured.
• Voluntary recall of 11 ophthalmic products.
• Temporarily halted manufacturing at Assam plant for remedial actions.
🎯 OUTLOOK & CORPORATE DEVELOPMENTS
• FY27 Revenue Growth Guidance: High-single-digit growth maintained.
• FY27 R&D Spend Guidance: 6–7% of sales.
• Organon acquisition expected to close by Q4 FY27; most regulatory approvals secured.
• Voluntary recall of 11 ophthalmic products.
• Temporarily halted manufacturing at Assam plant for remedial actions.
❤1
MEGA FLEX PLASTICS H1 FY27
• Net Profit: ₹3.31 Cr ↑100.22% (YoY) | ↓41.01% QoQ (QoQ)
• Revenue: ₹46.41 Cr ↑57.98% (YoY) | ↓4.69% YoY (QoQ)
• EBITDA: ₹3.46 Cr ↑252.75% (YoY) | ↓51.20% (QoQ)
• EBITDA Margin: 7.45% vs 3.34% (YoY) | 14.56% (QoQ)
• Net Profit: ₹3.31 Cr ↑100.22% (YoY) | ↓41.01% QoQ (QoQ)
• Revenue: ₹46.41 Cr ↑57.98% (YoY) | ↓4.69% YoY (QoQ)
• EBITDA: ₹3.46 Cr ↑252.75% (YoY) | ↓51.20% (QoQ)
• EBITDA Margin: 7.45% vs 3.34% (YoY) | 14.56% (QoQ)
RULKA ELECTRICALS H1 FY27
• Net Profit: ₹3.03 Cr ↑99.66% (YoY) | ↑70.91% (QoQ)
• Revenue: ₹75.21 Cr ↑36.36% (YoY) | ↑36.61% (QoQ)
• EBITDA: ₹5.00 Cr ↑83.04% (YoY) | ↑76.34% (QoQ)
• EBITDA Margin: 6.65% vs 4.96% (YoY) | 5.15% (QoQ)
• Net Profit: ₹3.03 Cr ↑99.66% (YoY) | ↑70.91% (QoQ)
• Revenue: ₹75.21 Cr ↑36.36% (YoY) | ↑36.61% (QoQ)
• EBITDA: ₹5.00 Cr ↑83.04% (YoY) | ↑76.34% (QoQ)
• EBITDA Margin: 6.65% vs 4.96% (YoY) | 5.15% (QoQ)
RULKA ELECTRICALS H1 FY27
• Net Profit: ₹3.03 Cr ↑99.66% (YoY) | ↑70.91% QoQ
• Revenue: ₹75.21 Cr ↑36.36% (YoY) | ↑36.61% (QoQ)
• EBITDA: ₹5.00 Cr ↑83.04% (YoY) | ↑76.34% (QoQ)
• EBITDA Margin: 6.65% vs 4.96% (YoY) | 5.15% (QoQ)
• Net Profit: ₹3.03 Cr ↑99.66% (YoY) | ↑70.91% QoQ
• Revenue: ₹75.21 Cr ↑36.36% (YoY) | ↑36.61% (QoQ)
• EBITDA: ₹5.00 Cr ↑83.04% (YoY) | ↑76.34% (QoQ)
• EBITDA Margin: 6.65% vs 4.96% (YoY) | 5.15% (QoQ)
URBAN ENVIRO WASTE MANAGEMENT H1 FY27
• Net Profit: ₹8.47 Cr ↓6.77% (YoY) | ↑46.30% (QoQ)
• Revenue: ₹94.17 Cr ↑8.67% (YoY) | ↓1.37% (QoQ)
• EBITDA: ₹17.83 Cr ↑12.63% (YoY) | ↑12.45% (QoQ)
• EBITDA Margin: 18.94% vs 18.27% (YoY) | 16.61% (QoQ)
• Net Profit: ₹8.47 Cr ↓6.77% (YoY) | ↑46.30% (QoQ)
• Revenue: ₹94.17 Cr ↑8.67% (YoY) | ↓1.37% (QoQ)
• EBITDA: ₹17.83 Cr ↑12.63% (YoY) | ↑12.45% (QoQ)
• EBITDA Margin: 18.94% vs 18.27% (YoY) | 16.61% (QoQ)
UPSURGE SEEDS OF AGRICULTURE H1 FY27 (STANDALONE)
• Net Profit: ₹3.32 Cr ↑30.95% (YoY) | ↓32.70% QoQ
• Revenue: ₹60.57 Cr ↑29.32% (YoY) | ↓4.76% (QoQ)
• EBITDA: ₹6.33 Cr ↑6.87% (YoY) | ↓22.72% (QoQ)
• EBITDA Margin: 10.46% vs 12.66% (YoY) | 12.89% (QoQ)
• Net Profit: ₹3.32 Cr ↑30.95% (YoY) | ↓32.70% QoQ
• Revenue: ₹60.57 Cr ↑29.32% (YoY) | ↓4.76% (QoQ)
• EBITDA: ₹6.33 Cr ↑6.87% (YoY) | ↓22.72% (QoQ)
• EBITDA Margin: 10.46% vs 12.66% (YoY) | 12.89% (QoQ)
ARUNAYA ORGANICS H1 FY27
• Net Profit: ₹1.98 Cr ↑2.80% (YoY) | ↑10.37% (QoQ)
• Revenue: ₹50.24 Cr ↓7.57% (YoY) | ↑2.74% (QoQ)
• EBITDA: ₹3.07 Cr ↓0.49% (YoY) | ↓5.58% (QoQ)
• EBITDA Margin: 6.11% vs 5.68% (YoY) | 6.65% (QoQ)
• Net Profit: ₹1.98 Cr ↑2.80% (YoY) | ↑10.37% (QoQ)
• Revenue: ₹50.24 Cr ↓7.57% (YoY) | ↑2.74% (QoQ)
• EBITDA: ₹3.07 Cr ↓0.49% (YoY) | ↓5.58% (QoQ)
• EBITDA Margin: 6.11% vs 5.68% (YoY) | 6.65% (QoQ)
❤1
ELEGANZ INTERIORS H1 FY27 (CONSOLIDATED)
• Net Profit: ₹7.06 Cr ↑206.68% (YoY) | ↓64.37% (QoQ)
• Revenue: ₹200.06 Cr ↑80.23% (YoY) | ↓30.83% (QoQ)
• EBITDA: ₹14.10 Cr ↑197.49% (YoY) | ↓52.38% (QoQ)
• EBITDA Margin: 7.05% vs 4.27% (YoY) | 10.24% (QoQ)
• Net Profit: ₹7.06 Cr ↑206.68% (YoY) | ↓64.37% (QoQ)
• Revenue: ₹200.06 Cr ↑80.23% (YoY) | ↓30.83% (QoQ)
• EBITDA: ₹14.10 Cr ↑197.49% (YoY) | ↓52.38% (QoQ)
• EBITDA Margin: 7.05% vs 4.27% (YoY) | 10.24% (QoQ)
W. S. Industries (India) Ltd-$ – CHANGE IN MANAGEMENT
Completion of second consecutive tenure of Independent Director:
- Mr. R. Karthik ceased to be an Independent Director effective 31st October 2026
- Cessation due to completion of second consecutive term under Companies Act, 2013
- Mr. J. Sridharan to serve as Chairman of Audit Committee and Nomination and Remuneration Committee w.e.f. 1st November 2026
- Mr. J. Sridharan to continue as Chairman of Stakeholders’ Relationship Committee
- Allotment Committee composition remains unchanged
Completion of second consecutive tenure of Independent Director:
- Mr. R. Karthik ceased to be an Independent Director effective 31st October 2026
- Cessation due to completion of second consecutive term under Companies Act, 2013
- Mr. J. Sridharan to serve as Chairman of Audit Committee and Nomination and Remuneration Committee w.e.f. 1st November 2026
- Mr. J. Sridharan to continue as Chairman of Stakeholders’ Relationship Committee
- Allotment Committee composition remains unchanged
Apollo Pipes Ltd – CREDIT RATING UPGRADE
ICRA has upgraded the credit ratings for bank facilities aggregating INR 150 Cr:
- Ratings upgraded to [ICRA]AA-(Stable)/[ICRA]A1+
- Total bank facilities upgraded: INR 150 Cr
- Total debt/TNW: 0.14 times as on March 31, 2026
- Interest coverage: 6.5 times in FY2026
- Consolidated tangible net worth: INR 893 Cr as on March 31, 2026
ICRA has upgraded the credit ratings for bank facilities aggregating INR 150 Cr:
- Ratings upgraded to [ICRA]AA-(Stable)/[ICRA]A1+
- Total bank facilities upgraded: INR 150 Cr
- Total debt/TNW: 0.14 times as on March 31, 2026
- Interest coverage: 6.5 times in FY2026
- Consolidated tangible net worth: INR 893 Cr as on March 31, 2026
AGI INFRA: CO RECEIVES RERA APPROVAL FOR GROUP HOUSING PROJECT 'UTOPIA BY AGI' IN NEW CHANDIGARH; PROJECT INCLUDES 3BHK, 4BHK, AND 5BHK FLATS WITH 31 FLOORS; VALID UNTIL MARCH 30, 2031
INTERARCH BUILDING SOLUTIONS: CO SECURES ORDER WORTH ₹67.56 CR FOR DESIGN, ENGINEERING, MANUFACTURING, SUPPLY & ERECTION OF PRE-ENGINEERED STEEL BUILDING SYSTEM FOR AIRCRAFT HANGER PROJECT IN NEW DELHI; APPROX. 8 MONTHS COMPLETION PERIOD; DOMEST
TWO PEOPLE KILLED, FIVE INJURED IN UKRAINIAN DRONE ATTACK ON RUSSIA'S BRYANSK REGION : GOVERNOR
INDIAMART INTERMESH: CO Q2 FY2027 REVENUE GROWS 10% YOY TO ₹429 CRORES; CUSTOMER COLLECTIONS AT ₹443 CRORES, DEFERRED REVENUE UP 16% TO ₹2,029 CRORES, NET PROFIT AT ₹91 CRORES.
BAJAJ ELECTRICALS: CO RECEIVES ASSESSMENT ORDER FROM INCOME TAX DEPARTMENT IMPOSING ₹112.32 CRORE DEMAND; MANAGEMENT EVALUATING LEGAL REMEDIES AGAINST THE ORDER.
CAPTAIN PIPES Q2 FY27 (CONS.)
• Net Profit: ₹1.13 Cr vs ₹1.32 Cr (↓14.48% YoY) | ₹0.75 Cr (↑51.52% QoQ)
• Revenue: ₹18.52 Cr vs ₹17.28 Cr (↑7.19% YoY) | ₹23.69 Cr (↓21.80% QoQ)
• EBITDA: ₹1.54 Cr vs ₹2.12 Cr (↓27.32% YoY) | ₹1.34 Cr (↑14.93% QoQ)
• EBITDA Margin: 8.32% vs 12.26% (YoY) | 5.66% (QoQ)
• Net Profit: ₹1.13 Cr vs ₹1.32 Cr (↓14.48% YoY) | ₹0.75 Cr (↑51.52% QoQ)
• Revenue: ₹18.52 Cr vs ₹17.28 Cr (↑7.19% YoY) | ₹23.69 Cr (↓21.80% QoQ)
• EBITDA: ₹1.54 Cr vs ₹2.12 Cr (↓27.32% YoY) | ₹1.34 Cr (↑14.93% QoQ)
• EBITDA Margin: 8.32% vs 12.26% (YoY) | 5.66% (QoQ)