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Revenue
₹33.2 Cr
verified against source
Revenue YoY
36%
reported change
EBITDA
₹11.37 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Shree Ganesh Remedies reported Q4 FY26 revenue of ₹33.2 crore, up 36% YoY, driven by recovery from deferred shipments and improved execution. EBITDA at ₹11.37 crore grew 15% YoY, but margins contracted to 34.3% from 40.4% due to product mix and raw material volatility. PAT declined 5% YoY to ₹6.27 crore. Management characterized FY26 as a consolidation year, with groundwork laid for future growth. Key developments include successful pilot trials for graphene projects in Europe and Japan, progressing to commercial trials, and Block 7 expansion on track for Q2 FY27 commercial production. Guidance for FY27 is cautiously optimistic, expecting gradual momentum improvement and graphene traction. Risks include prolonged geopolitical uncertainty, regulatory approval delays, and domestic pricing pressure. The company remains focused on niche specialty chemicals and CDMO, avoiding commoditized segments.
Colored figures show movement against the previous available record.
Guidance to track
- Block 7 expansion is on track and expected to commence commercial production in Q2 of FY27, supporting niche molecules including graphene.
- Pilot trials for graphene projects completed; commercial trials expected to start in FY27, with commercial production later in the year subject to approvals.
- Management reiterated sustainable EBITDA margin range of 26-28% over the long term, though initial product approvals may yield higher margins.
- Block 8 capacity utilization is expected to reach its peak by the end of FY27.
Risks flagged
- War and geopolitical tensions are prolonging regulatory approvals for end products, pushing back commercialization timelines by 6-12 months.
- Increasing competition in domestic generic products is compressing realizations and margins, though the company is shifting focus away from this segment.
- Analyst raised concern that graphene projects may be lumpy; management acknowledged but did not provide specific revenue projections, indicating uncertainty.
- Crude oil price fluctuations impact solvent costs, affecting procurement decisions and margins across the portfolio.
Key quotes
- FY26 was never designed as a year of aggressive topline extension. It was a year of deliberate groundwork and on account of that, I'm pleased to say it has been a productive year.
- We have successfully completed the pilot trial for this project. This is an important milestone for us and one that we have been working towards over recent quarters.
- SG is not going to be involved in any of the finished pharmaceutical products or small molecules. SG definitely wishes to be a name in the specialty chemical manufacturing and as a reliable Indian manufacturing partner.
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