Q4 2026 Natural Capsules Ltd Earnings Call Transcript
Key Points
- Natural Capsules Ltd (BOM:524654) reported a 55% quarter-on-quarter and 30% year-on-year growth in consolidated revenue for Q4 FY26.
- The company successfully cleared deferred dispatches from the Puducherry plant shutdown, contributing positively to Q4 FY26 margins.
- The new HPMC line, which increased capacity to 20.25 billion capsules per annum, is ready for production, with revenue expected in the second half of FY27.
- Commercial API sales commenced at the Tumkur facility, marking a significant milestone for Natural Biogenics Private Limited.
- A collaboration with Fermbox Bio is expected to improve utilization of the fermentation block and create an incremental revenue stream.
- Natural Capsules Ltd (BOM:524654) reported a net loss of INR24.66 crore for FY26, with EBITDA margins deteriorating by 1,119 basis points compared to FY25.
- The company faced operational disruptions due to the temporary shutdown of the Puducherry plant and pre-commercial costs of the API manufacturing subsidiary.
- Finance costs increased to INR10.95 crore in FY26, up from INR6.31 crore in FY25, due to term debt for the Tumkur API facility.
- The API segment faced industry-wide pressure on product realization due to significant excess capacities in China.
- The company is operating with a near-zero cash balance and is exploring options for fund-raising to address liquidity challenges.
Ladies and gentlemen, good day, and welcome to Q4 and FY26 earnings conference call of Natural Capsules Limited hosted by TIL Advisors. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Abhishek Mehra from TIL Advisors. Thank you, and over to you, Mr. Mehra.
Thank you, Nirav. Welcome, everyone, and good evening. Thank you for joining this Q4 and FY26 earnings conference call of Natural Capsules Limited. The results and investor updates are available on the stock exchanges. In case anyone does not have a copy of the same, please feel free to write to us, and we'll be happy to send it over to you.
To take us through the results of the quarter, we have with us today Mr. Sunil Mundra, Managing Director; and Mr. Raj Kishore Prasad, Chief Financial Officer. We'll be starting the call with a brief overview of the quarter from Mr. Mundra, which will be followed by the Q&A.
I would like to remind you all that everything said in this call that
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