Q2 2026 Natco Pharma Ltd Earnings Call Transcript

Nov 14, 2025 / 11:00 AM GMT

Release Date Price: ₹812.65 (-1.63%)

Transcript

Key Points

Positve

Natco Pharma Ltd (BOM:524816) expects a revenue run rate of INR750 to INR800 crore and a PAT of INR135 to INR150 crore for the next six months, aligning with their annual guidance.
The company has successfully won a government tender in China, expanding its presence in the Chinese market.
Natco Pharma Ltd (BOM:524816) is actively pursuing innovative investments, such as the eGenesis project for kidney transplants, which could lead to significant breakthroughs.
The company has a strong pipeline with several First-to-File (FTF) opportunities, including semaglutide and irbutinib, which could drive future growth.
Natco Pharma Ltd (BOM:524816) is planning to de-merge its agro-business, potentially unlocking shareholder value by listing it separately.

Negative

The tender won in China is at a cutthroat price, making it financially immaterial.
There is heavy competition expected in the market for semaglutide, which could impact margins and sales volumes.
The company faces challenges in expanding within India due to high asset valuations, making acquisitions expensive.
Natco Pharma Ltd (BOM:524816) anticipates a drop in contributions from development for the next two quarters.
The market for some of their niche products, like the one for spinal muscular atrophy, is small and not expected to significantly impact overall revenue.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NATP.NS - Natco Pharma Ltd
Q2 2026 Natco Pharma Ltd Earnings Call
Nov 14, 2025 / 11:00AM GMT

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Conference Call Participants
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* SC Gupta
- Individual Investor
* Thadavati Sai Surendran
- Retail Investor
* Rishi Kesh
BNK Securities - Analyst
* Deepak Ajmera
IGE India - Analyst

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Questions and Answers
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Unidentified Company Representative [1]
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will be very happy. Obviously, there will be some disruption, but overall, the opportunity is fairly large.

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Unidentified Participant [2]
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Secondly, sir, there was recently this news report came about you all winning a

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