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Revenue
₹22.1 Cr
verified against source
Revenue YoY
27.1%
reported change
EBITDA
₹4.1 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Sanjivani Paranteral delivered a strong Q3 FY26 with consolidated revenue of ₹22.1 crore (+27.1% YoY) and EBITDA margin expansion of 230 bps to 18.5%, driven by favorable product mix and first-time contribution from the Pune IV fluids JV (₹1.2 crore). Standalone revenue grew 20.2% to ₹20.9 crore, with oral solids surging 153% YoY. Management guided FY27 standalone revenue of ₹90 crore and SPL Infusion revenue of ₹60-65 crore, implying ~50% consolidated growth. The Pune facility is ramping up (23-27% utilization) and targets 40-50% utilization by FY27. Risks include execution delays in product approvals and potential margin volatility from product mix shifts.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects base business (standalone) to reach ₹90 crore in FY27, implying ~20% growth over FY26 estimated ₹73-75 crore.
- The Pune IV fluids JV is expected to contribute ₹60-65 crore in FY27, up from ₹1.2 crore in Q3 FY26.
- Current utilization is 23-27%; management targets 40-50% by FY27 as product approvals ramp up.
- Management expects standalone EBITDA margin to remain in the 16-17% range for the full year, consistent with 9-month trends.
Risks flagged
- Ramp-up of SPL Infusion depends on obtaining approvals for 23-24 products; delays could impact revenue targets.
- Management acknowledged that quarterly margins can fluctuate due to product mix, which may affect predictability.
- Past logistics issues due to geopolitical tensions have been resolved, but any recurrence could impact export shipments.
- An analyst raised concern about promoter shareholding being low; management indicated gradual increases but no specific target.
Key quotes
- We are looking at somewhere around 90 crores topline from our base business and SPL infusion will contribute around 60 to 65 crores.
- The plant is practically new, so it is with a very slow... currently we are operating at 20-23% capacity but next year going forward to FY27 it will be around 40 to 50%.
- All our plants are compliant with the revised Schedule M... from our estimates in our country there are only 20 to 30% of the plants who will actually comply.
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