Q2 2026 Syngene International Ltd Earnings Call Transcript
Key Points
- Syngene International Ltd (BOM:539268) reported a 2% year-on-year increase in revenue from operations for the quarter, indicating steady growth.
- The company has been awarded its first global Phase 3 clinical trial by a US-based biotechnology company, marking a significant milestone in its capabilities.
- Syngene is expanding its clinical trial footprint across Australia, New Zealand, the UK, and Eastern Europe through strategic partnerships, enhancing its global reach.
- The company is investing in new modalities such as antibody-drug conjugates and peptides, with plans to expand its Biologics facility in Bengaluru and establish a GMP peptide facility in Mangalore.
- Syngene maintains a strong balance sheet with a net cash balance of INR 1,018 crore as of September 30, 2025, enabling effective navigation through industry cycles.
- Operating EBITDA declined by 18% year-on-year, with margins dropping to 22% from 27% the previous year.
- Profit after tax decreased by 37% year-on-year, reflecting challenges in maintaining profitability.
- The CDMO business was impacted by inventory adjustments in Biologics manufacturing, affecting overall performance.
- Employee costs increased by 13%, contributing to higher operational expenses.
- The company experienced a hedge loss of INR 11.8 crores, compared to a hedge gain in the previous year, impacting financial results.
Ladies and gentlemen, good day and welcome to Syngene International's second quarter and H1 FY2026 financial results conference call.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Ms. Nandini Agarwal. Thank you, and over to you.
Thank you and good afternoon to everyone. Thank you for joining us on this call to discuss Syngene's second quarter and half-year results for FY2026. To discuss the financial and business performance for the period, we have on this call today Mr. Peter Bains, Syngene's Managing Director and Chief Executive Officer, and Mr. Deepak Jain, Chief Financial Officer. After the opening remarks, Peter and Deepak will be happy to answer any questions you may have.
Before we begin, I would like to caution that comments made during this conference call today will contain certain forward-looking statements and must be viewed in relation to the risks pertaining to the business. The Safe Harbor clause
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