DIVISLAB / Q2-FY26 / claim-ledger

Audit the questions that mattered.

Divi's Laboratories · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ2-FY26 · 2025-10-30Back to quarter ↗

Questions audited

Answered directly

33%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Amey Chalke · JM Financial

declined

Volume linked to patent expiry for key CS project

I'm sorry, I cannot comment on any specific product customer impact or volumes because I am bound by confidentiality.

Amey Chalke · JM Financial

evasive

Revival timeline for generic API business

We are hopeful in the next few quarters it may stabilize and things may come back to normal.

Kunal Dhamesha · Macquarie

partial

CapEx guidance for FY26 and potential increase

Yes, it would be higher in FY 2026.

Tushar Manudhane · Motilal Oswal Financial Services

evasive

Gross margin stability and upside risk

This would completely vary on product mix.

Tushar Manudhane · Motilal Oswal Financial Services

direct

Constant currency growth rate for half year

Currently, the half year is about 10.79%, and we are assuming that for the rest of the year also, it would be around the similar number.

Surya Narayan Patra · PhilipCapital India Private Limited

partial

Margin upside limited despite mix shift to CS

I would say it's mainly to do with the product mix... we will see a hit on the margins there, which you see like a normal gross margin level across the entire product portfolio.

Surya Narayan Patra · PhilipCapital India Private Limited

declined

Revenue share of contrast media

We cannot individualize each segment. We look at it as a total whole and a product mix.

Harshit Dhoot · Dymon Asia

evasive

Is CS interest driven by China shift?

For me, it is very difficult to say, is this something they brought from China, or is this an old molecule they brought in?

Neha Manpuria · Bank of America

partial

Volume vs pricing growth in generic business

I wouldn't say there's a degrowth in this business. 7% is the growth that we've seen on the revenue side.

Shyam Srinivasan · Goldman Sachs

declined

Non-peptide GLP-1 projects in pipeline

We have several projects in the pipeline, but I'm not at the liberty to talk about what category, therapeutic category, and segment.

Girish Bakhru · OrbiMed

direct

Investments in peptide purification capacity

As of now, Divi's is only manufacturing MERs fragments. We are not in the purification of the API.

Nitin Agarwal · DAM Capital

partial

Timeline for three announced CS projects

All in all, we expect in the next one to two years, we will start seeing revenues into our books provided all regulatory approvals are in place.