SUPRIYA Q4 FY26 earnings call.
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Revenue
₹277 Cr
verification pending
Revenue YoY
50%
reported change
EBITDA
₹98 Cr
latest reported figure
Source
manual review required
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Supriya Lifescience delivered an exceptional Q4 FY26 with Rs 277 crore revenue (50% YoY), driven by new product launches in cardiovascular intermediates and anesthetics, plus stabilized DSM volumes. Full-year FY26 revenue reached Rs 828 crore (19% YoY), in line with 20% guidance, with EBITDA at Rs 294 crore (35.5% margin). The USFDA EIR clearance with VAI status from a surprise 7-day inspection across 7 blocks underscores robust compliance culture. Key growth catalysts include the cardiovascular intermediate reaching full 300MT capacity utilization over FY27-28, Ambernath facility commercializing in semi-regulated markets, and Patal Ganga phase one groundbreaking with Rs 200 crore capex. The company reiterates Rs 1,000 crore FY27 revenue guidance with 20%+ growth trajectory, though quarterly growth will be non-linear due to August maintenance shutdown. Risk includes Ambernath generating minimal revenue in FY27 (full effect in 2-3 years) and EU GMP audit timing slipping to H2 FY27, which delays liquid anesthetic formulation ramp-up.
Colored figures show movement against the previous available record.
Guidance to track
- Company reiterates approximately 20% annual revenue growth guidance with the Rs 1,000 crore milestone achievable in FY27, underpinned by robust pipeline and planned 3-4 product launches annually.
- Management guides for sustained EBITDA margins within the 33-35% band, explaining that new product scale-ups initially serve semi-regulated markets before maturing to regulated markets over 2-3 years.
- Phase one development includes 2 API/advanced intermediate blocks and 2 formulation blocks; all clearances received, groundbreaking to begin in FY27.
- FY27 will see strengthening of anesthetics and ADHD portfolios with 2 new launches; contrast media launch deferred to H2 FY27 for process optimization.
Risks flagged
- Despite starting some revenue generation, Ambernath will only see full commercial impact in 2-3 years. Ambernath inventory has already added Rs 10-15 crore to working capital, pressuring cash conversion.
- EU GMP audit for Ambernath pushed to H2 FY27 with no confirmed dates; USFDA audit dates yet to be scheduled due to auditor unavailability. Without EU approval, liquid anesthetic formulation ramp-up is delayed 3-4 years.
- Management deflected questions on gross margin deterioration, attributing some EBITDA margin pressure to Ambernath expenses without revenue offset. New cardiovascular and anesthetic products scale through semi-regulated markets initially.
- Inventory days running at ~200 days for 2 years; net working capital extended to 170-180 days due to Ambernath inventory buildup and higher intermediate stocks for scaled-up products.
Key quotes
- The inspection resulted in only one minor observation which was proactively addressed underscoring the strength and our compliance culture, robust quality system and awareness to cGMP standards.
- We'll not be able to give any quarter-on-quarter guidance of the run rate. In FY27 we'll be able to achieve the 1,000 crore. All quarters might not be linear growth because in quarter two we are expecting some shutdown and refurbishing activities.
- The 300 metric tonnes what we indicated will not come fully in FY27. I said we'll get to maximum utilization in FY27 but that entire number to come will happen over the next two to three years time.
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