Q2 2026 Anupam Rasayan India Ltd Earnings Call Transcript
Key Points
- Anupam Rasayan India Ltd (BOM:543275) reported a significant revenue growth of 149% year-on-year for Q2 FY26, reaching INR731 crores.
- The company achieved a robust 122% year-on-year growth in revenue for the first half of FY26, surpassing the total revenue of FY25 within just six months.
- The order book remains healthy at around INR43,646 crores, with significant progress in commercializing products expected to contribute approximately INR450 crores in revenue during FY26.
- The company successfully launched a new molecule in the pharma segment, demonstrating its capability in developing complex chemistries.
- Working capital efficiency improved significantly, with working capital days reduced from 409 days in FY25 to 247 days in H1 FY26, and further reductions expected.
- Margins were slightly subdued due to the liquidation of older inventory, impacting profitability temporarily.
- The standalone balance sheet remains bulky, with high trade receivables and inventory levels, raising concerns about working capital management.
- Despite significant investments in new plants, the increase in gross block has not yet translated into a proportional increase in profitability.
- Inventory holding period remains high at over 700 days on a standalone basis, significantly higher than industry peers.
- There is an increase in pledging of shares by promoters, which was attributed to raising money for participation in preference allotment.
Greetings, ladies and gentlemen, good day. Welcome to Anupam Rasayan India Limited earnings call.
(Operator Instructions) Please note that this conference is being recorded.
I now hand the consents over to Ms. Krishna Patel from EY.
Thank you, Sharvani, and good evening, everyone. Welcome you all to Anupam Rasayan India Limited Q2 FY26 earnings conference call. To take us through the results and to answer your questions, we have with us the Management of Anupam Rasayan, represented by Mr. Anand Desai, the Managing Director; Mr. Gopal Agrawal, the Chief Executive Officer; Mr. Amit Khurana, the Chief Financial Officer; and Mr. Vishal Thakkar, the Deputy Chief Financial Officer.
The discussion that we may have today may contain certain forward-looking statements relating to the future events and future performance. Numerous factors could cause actual results to differ materially from those in the forward-looking statements. Please note the audio of this call is a copyright material of Anupam Rasayan India and cannot
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